All Forum Posts by: Nathan Faselt

@Logan M.

Depending on your scale of units and issues

I would say buy a drain auger 1st if you don’t have one and that seems to fix a mass majority of our issues roots, grease, dipers, ect

Now you or a tech would need to learn to use the Machine, they can be dangerous but for us maybe about 2-5 % warrant needing a cam for deeper investigation.

Just a recommendation to make sure to put a coded door on the laundry room if posable with a different code than the building entry door and lock down the coin boxes or put cameras in the room if possible we have had theft in the past but now with these measures done down to nothing. 

This is a great question, and I'm eager to hear some others tips as well. In my experience in Iowa, we typically let it go after obtaining a money judgment and assigning it to a collections agency. From what I've gathered, many landlords face the challenge of not seeing the money, but having these two actions in place increases the likelihood that a tenant might settle the debt down the line.

There have been instances where tenants, even with judgments from three years ago, walked into the office and paid off a $1200 debt when they needed to clean up their financials for a new rental or other purposes. Realistically, you won't see any money, and the collections agency often takes a significant cut anyway.

If anyone else has valuable tips on this, I'd love to learn more. Dealing with collections agencies has left me somewhat disappointed, and it makes me wonder about the effort they put in and if there is anything the investor / management company can do to actually see this money.

grant or down payment asstiance from anything from developers to local governments or federal agencies . 

Love this creative approach to maximizing your ROI. and nice detail in the post

I'd recommend kicking things off by testing the waters for free. Craft a well-written email to your residents, complete with photos and ideas for freeing up some extra space. Gauge their interest and see how they respond.

If you receive positive feedback and it seems like there's genuine interest, then you can consider setting up a shed as you've described. It's likely to catch the attention of tenants, especially if you place a sign on the shed. This way, you can experiment without a substantial initial investment and see how well it works in your specific area.

I've personally have had varying success with renting out extra space, whether it's sheds, closets, or space above parking stalls. Ultimately, it depends on your unique tenant base. Starting with just one is a practical way to dip your toes in the water and assess its potential.

What legislation are you referring to? 

The Big Question: Can You Bury the Tax Burden (Literally) with Property Burials?

I know it might sound a bit unusual, but I've heard rumors about some savvy real estate investors or just a "Tic-Tok hype loophole lawyers" who claim you can take advantage of local regulations to save on property taxes by designating parts or the whole property as private burial grounds for their family or even as small cemeteries.  Also i have seen video and content on Trump buried Ivana on a golf course.  Did he get a tax benefit on this who knows. 

Now, I understand that this concept is highly dependent on local regulations and can vary significantly from place to place. But I'm curious if anyone here has ventured into this territory or knows someone who has.

My Questions:

• Has anyone successfully used this strategy to lower their property tax bill?
• What were the specific steps you took to make it happen, and what hurdles did you encounter?
• Did you face any legal or ethical considerations when pursuing this strategy?
• Are there any specific regions or areas where this approach is more likely to work?
• If you haven't tried this yourself, do you have any insights or knowledge about the feasibility of such a strategy?

Looking forward to hearing your thoughts and experiences on this unique tax-saving strategy! 🏡💰💀

As many here have mentioned 

Defiantly talk to the seller, highest up manager at the brokerage and or franchise, local Realtors association if that are apart of that, if not report to state sales association. 

thats very frustrating. 

Here's my two cents from the Midwest, specifically Iowa, and based on my personal experience with my company.

PM fees can vary widely, and what's considered customary often depends on factors like location, the number of units you have, and the rent rates. Here's a breakdown of your fees and some general insights:

1. Monthly Rent/Income Percentage: fees range from 5% to 11% 
2. The exact percentage can vary depending on the factors mentioned earlier.
3. Repairs Facilitation: Some property management companies charge a percentage (10%) on repairs they facilitate. However, many handle repairs in-house or have fixed fees for certain types of maintenance.
4. Late Fee Collection:  (often 10% of them) as part of other income.
5. New Lease Signing: $200 to one month's rent.  we have been doing a lot for $400 .
6. Lease Renewal: Half a month's rent for a lease renewal does seem high. We charge $40. 

I don't do mail but have always admired the broader casting of your net.  We seem to keep busy enough with targeting direct, organic leads and referrals.  This defiantly make me consider how much your making on a deal to make sure customer acquisition is inline.