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25 August 2024 | 5 replies
If I recall correctly the inspector indicated that the old black soiled insulation would be removed and new would be installed.
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24 August 2024 | 5 replies
@Abram Edawrd Inmanhire a PMlower the rentjust because you couldn't get ahold of their employer or landlord doesn't necessarily indicate a red flag. many employers and landlords won't talk to a random person
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24 August 2024 | 2 replies
Have more open houses to help minimize having to pay a realtor on the selling end Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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22 August 2024 | 16 replies
I have been toiling over investing in DST 1031 Exchange vs cashing out by paying capital gains. I have read many DST PPM's and have come to conclusion the Sponsors are the only one that can reliably profit from these ...
24 August 2024 | 7 replies
This is indicated in the net worth report (one of 75 reports available).
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26 August 2024 | 17 replies
Normally when acquisition indicates non-owner occupied, the escrow asks if there are any deposits to transfer but with 7 being refi they never asked if deposits should transfer.
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23 August 2024 | 5 replies
I’m relatively new to this with minimal knowledge from listening to the bigger pockets podcast, but would be grateful to meet any new connections to help me in this journey.
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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
But I’d like to be cash flow positive even if minimal.
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24 August 2024 | 23 replies
They responded just as you indicated @Ryan Murdock that it helps to cover the costs of them collecting the late rent.