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2 March 2017 | 0 replies
Has anyone had any luck renting out a storage for one of your rentals separately from the rental itself?
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10 February 2017 | 17 replies
But part of it was that the market for people who want a duplex on their property in that area is very small.Feel free to offer any options I'm not thinking of, but my main question is this: Is there a relatively easy way to modify the duplex apartments so that they count as storage (or just not count as income-producing apartments) so that financing would be easier for a prospective buyer?
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24 January 2017 | 19 replies
Add the total INCOME from all units (including any laundry and storage income)Add all expenses (listed below).Income - Expenses = Net Operating Income (NOI)NOI - Debt Service = Monthly Cash FlowDebt Service = Monthly/Yearly mortgage payments(Annual Cash Flow) / (Cash Invested) * 100 = Cash on Cash Return (10% or above should be good - Try for 15% plus)Cash Invested = Down payment + Closing Costs (total money out of your pocket)Cap Rate = NOI / Property Value (8% or above should be good - Try for 10% plus) Bank Charges Advertising Insurance Hazard Janitorial Legal Licenses Miscellanious Repairs and Maintenance Supplies Maintanence Taxes - PropertyVacancy Loss (usually 5% to 8%)Property Management (usually 10%)CapEx (any future big ticket item replacements like Roof, HVAC, Floors etc) -- may be 5% to 10% Water/Sewer Electricity Gas Fuel Oil Other Utilities
2 February 2017 | 7 replies
Both units have private decks and access to basement for storage/laundry.I guess my questions are:How much do I want to spend on sprucing thing up before getting tenants in?
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10 January 2016 | 5 replies
I was in Las Vegas at a self-storage convention (when I thought my life path was going to be owning a self-storage facility rather than being a real estate investor), and I met a guy there who was in town from Miami.
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14 January 2016 | 10 replies
I do some classic car restoration, so for the time being, I'm going to use it as my restoration shop and storage facilities for my rehab tools and supplies.
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27 October 2016 | 4 replies
I think converting into storage units would be a great idea.
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3 July 2015 | 4 replies
Frame the boards and put hinges on them and you have accessible storage area for outdoor items like a grill, chairs...
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17 June 2015 | 7 replies
How to turn the property around - Ways to increase NOIRaise RentsCharge for Extra Parking SpacesCharge for Storage SpaceRent Out the Clubhouse for Parties/EventsInstall Vending Machines OnsiteInstall Coin Operated Laundry FacilitiesSelling Ad Space in Your Community NewsletterAdd an Onsite ATM MachineInstall an Internet WiFi Network and Charge for AccessRaise Rents (The Ideas Above from my friend Susan Lassiter-Lyons)
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16 December 2014 | 0 replies
The Home has the following:First Floor and Finished Basement:(Owners Area)First Floor: 2 Bedrooms, 1 Bath, Office, Kitchen, Living Room, Dining Room, Enclosed Porch Finished Basement: Full Bathroom, Laundry Area, Living/Recreational Area, Tons of Closets/Storage, Mechanicals RoomBasement In-Law: (Tenant)Separate Entrance, 2nd Shared door with Owners finished basement, Kitchen, Bathroom, Living Area/Bedroom, Closet SpaceSecond Floor: (Tenant)Shared Side Entrance with 1st floor owner, 2 Bedrooms, 1 Bath, Eat-in Kitchen, Living RoomMy issue is this:Currently the owner rents out the 2nd Floor and also rents the In-Law suite to a "relative".