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26 August 2024 | 13 replies
Most markets have slowed down in the past year.
30 August 2024 | 70 replies
We have both generalized meetings where people will overview different strategies and other meetings where people dig deep into specific strategies.
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25 August 2024 | 13 replies
I'd sell it or at least slow exit with a lease option since it sounds like you can wait.
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26 August 2024 | 13 replies
I don't know the statistics behind Salt Lake, but I don't believe it is slowing down anytime soon.
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23 August 2024 | 6 replies
Nothing is like taking a dive into the deep end of the pool.
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26 August 2024 | 23 replies
They will continue to demand more and threaten more.I'm in a slow eviction city as well, so I understand the fear of losing money for a long period.
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24 August 2024 | 9 replies
I'm a slow and steady wins the race investor that has little by little bought single family rentals (combo of long term, mid term, and short term).
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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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22 August 2024 | 1 reply
Surely the mighty NY real estate industry has stakeholders with deep pockets and an army of attorneys to work on this thing, no?
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24 August 2024 | 18 replies
You might be surprised to see some tasks are taking a lot more time than you think they should and maybe you are diving a little too deep into those items or need some automation.I self-manage 13 SFRs with a set of linked Excel spreadsheets.