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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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23 August 2024 | 4 replies
You need to pay for water, sewer, and garbage removal in NJ.
30 August 2024 | 70 replies
I am willing to test the waters for awhile.
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22 August 2024 | 2 replies
If you are listing yourself, find comps that your subject property beats out the water and list around that benchmark.
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23 August 2024 | 10 replies
The owner pays for all the bills currently 575 per unit, which include water, electricity, internet, and cable.
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25 August 2024 | 23 replies
If I am buying directly from a property owner, I sometimes not only pay all closing cost but also back taxes, water bills etc.
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23 August 2024 | 11 replies
I charge a flat water fee to my ADU tenants.
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22 August 2024 | 0 replies
Water to the site was a challenge that has been overcome.
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21 August 2024 | 9 replies
My question is does this wooden retention wall constructed for the city catch basin rain drainage water not to enter into the property or does the retention wall support the foundation of a building which is around 20 feet away.
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21 August 2024 | 10 replies
I only have student loan debtI have a full-time remote jobI have no prior experience in real estate investingMy credit score is high 700'sHere are the details about the property in Zenda,WI:Asking price: $235KIt’s being sold by out-of-state heirsIt needs at least $50K in repairs and updatesThe neighboring house recently sold for $235K (though I don’t have details on its condition before the sale)A family friend who owns a construction company assessed the property and noted the following:Replacement Needed: Furnace, Water Heater, Water Softener, Floor (concrete replacement needed due to unevenness), Roof, GuttersUpdates Needed: 1.5 BathroomsConcerns: Black mold and water leak marks upstairsRemodel Suggestion: The staircase is very steep and narrow; recommended to relocate and extend it into the living spaceAdditional Work: The property slopes downward, allowing rain to flow into the house.