Rick Ross’s approach to maximizing earnings involves never leaving money on the table. This principle means he negotiates terms based on the situation to ensure no opportunity for profit is missed. For instance, on a Friday night, he might charge $150,000 for a performance, but if he has an open slot on a Tuesday, he might accept $75,000 to fill that gap instead of missing out on the opportunity. Similarly, in a business like a cleaners, if someone offers $2 for a service that costs $3, instead of turning them away, Ross would accept the $2 and find a way to collect the remaining dollar later. The key takeaway is to maximize revenue by making the most of every opportunity, rather than letting any potential income slip away.
Applying this to mobile home park investing, always look for ways to optimize revenue. If a potential tenant offers less than your asking rent, consider negotiating a lower rate for the current vacancy if it means filling the spot and reducing turnover costs. Don’t let potential income slip away by sticking rigidly to initial terms; instead, adapt to circumstances to ensure maximum profitability over time.
