All Forum Posts by: Robert Rixer

Looking to the BP community for creative ways to boost NOI. I'm looking for the most creative things people have seen or can think of, irrespective of how impactful it actually is to the bottom line or how much it would cost CapEx-wise. The more creative the better!

Examples to kick it off: adding solar panels, vending machines, advertising space, allowing credit card rent payments w/ fee. 

It may not be possible, but if you're going to go the appreciation route (versus cashflow), then you're best off targeting 5+ unit properties where you can force the appreciation by driving NOI. With the 2 and 3-flats, you're at the mercy of comps, which is pretty much pure speculation.

Typically you're going to need your own cash. There aren't 100% hard money financing options in multifamily like there are in fix n flip SFH's, is what I think you're asking. Most common way to do it without partners is getting a juicy enough value-add deal where you can refi out your down payment. Another option is finding a deal where the owner will seller finance some or all of the down payment portion and is okay being in 2nd position.

In general, anywhere across America right now with interest rates as high as they are, there are very few deals that will cashflow with 75% leverage. Those that claim to cashflow well are either a) full of it or b) old and in a class C area where your probability of being able to achieve those cashflows are low.

I understand what you're trying to do. It depends how many months are left on the current lease. If 3 months, you could look to have closing stretched out so the loan parameters would assume you would take over the occupied unit. If it's 11 months left, your hands are pretty much tied.

Most buildings of this size often only appear on the website of the listing brokerage. Sometimes they will post it to Costar/Loopnet. Almost never the MLS.

This sounds like a common story of out-of-state investors buying up class C with local third party management. It's best chance at survival/turnaround is with an experienced, local class-c operator.

In high interest rate environments, most deals are negatively leveraged so they won't pencil out with high LTV's.

There are a ton of strategies. Most people don't do them because they take a lot of time and effort - and hence those who do it are usually rewarded. Direct mailers, calling expired/cancelled listings, attending landlord/investor meetups, cold outreach, social media groups, fsbo platforms.

I think it's pretty clear the answer is no.

In most places, water/sewage is a landlord expense. From experience, you definitely want electric and gas submetered as tenants will abuse a flat fee. Look into RUBS as an alternate to submetering, which can get expensive.