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When it comes to calculating Debt-Service Coverage Ratio, or DSCR, many landlords look for ways to increase their monthly cash flow in order to get the best interest rates. Optimal cash flow is a key component of being a profitable landlord, and there are several ways to maximize your monthly profits. One area, from our experience, we strongly advise not cutting is insurance. Having adequate insurance is the best way to protect yourself and your lender from financial loss due to unexpected damage. Fortunately, there are several other ways to increase monthly cash flow. Here are five of our favorites:
These are just some ideas to get you started on maximizing your rental income. We always advise consulting professionals for financial planning and decisions. For some ideas on affordable property upgrades, see the “Property Upgrades” section of our blog.