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26 August 2024 | 73 replies
this is in our lease regarding prohibited conduct, aka violation of the lease, "criminal conduct, regardless of whether or where arrest or conviction occurs, including but not limited to: manufacturing, delivering, or possessing a controlled substance or drug paraphernalia; engaging in or threatening violence; possessing a weapon prohibited by law; discharging a firearm in the apartment community; or, except when allowed by law, displaying or possessing a gun, knife, or other weapon in the common area, or in a way that may alarm others"I'm no lawyer but the person who wrote this lease is a lawyer, "regardless of whether or where arrest or conviction occurs" leads me to believe that suspicion of illegal activity is enough.
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27 August 2024 | 43 replies
There are new rules about collecting fees that are not a function of delivering a bona fide mortgage loan.
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23 August 2024 | 2 replies
So I'm trying to learn everything I can as I search out my path to gaining the needed capital to get this train rolling.
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24 August 2024 | 3 replies
Let’s look at the impact those last two have had on the time it takes to deliver a new home (or apartment building).Stages in New Home ConstructionApplication for Construction PermitPermit Approval (2–12 months after application depending on where/what you want to build)Start (2.8 months after approval for MF, 1.3 months after approval for SFH)Under ConstructionCompletion (17 months after start for MF, 8.3 months after start for SFH)What does this mean?
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23 August 2024 | 181 replies
I know the sms are being delivered, or some number, I get replies.
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22 August 2024 | 0 replies
We deliver quality and value, ensuring our homes stand out.
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22 August 2024 | 2 replies
Don't shoot yourself in the foot, but in this market, deliver a good product that a buyer would consider a win.
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23 August 2024 | 4 replies
@Robert Rixer, I don't know how creative these are, as many are common plays:Valet TrashFencing in first floor yardsProviding washer and dryers for added rentReserved, Covered parkingTech PackagesInternet and Cable contracts, with reimbursementsPayment Plan rents, with small service charge (i.e. bill 1/4 rent each week)Reserved Rental cabanas at poolPrivate pool party rental optionGolf Simulator in clubhouse - fee basedOn site, self serve car wash (quarter feeder style)Charged group fitness/personal training servicesGame room in clubhouse with monthly subscription for tenants (Xbox, Playstation, etc)Changing out high maintenance grass for astro turf or lower maintenance/lower water use shrubberyBut ultimately, I think a lot of NOI increases come from deep dive into understanding EVERY expense and finding ways to minimize them, and/or no outsource them.Train maintenance team on basic HVAC and appliance repairs (find way to get them licensed as needed)Buy paint sprayers for faster, easier turns versus having to hire a contract painter, and possibly repaint whole unit each timeStandardize all finishes, so you can buy in bulk, everything from hinges and door knobs to cabinets, paint colors, and light fixtures.Potentially get leasing people onto lower base salary with higher bonus potentialBulk/bundled insurance across portfolio (even better at scale is to self insure)Regularly test sprinkler systems for leaks.Non-NOI, but benefit to you: partner with insurance agency to get referral kickbacks from your tenant base for renter insurance.
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25 August 2024 | 57 replies
Hardest thing to train real estate service providers on is when to turn down a client.
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23 August 2024 | 22 replies
That is for people trained to buy property the correct way, but most people aren't trained so they resort to the aforementioned options.