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24 August 2024 | 9 replies
I’d study competing units to see what they offer and think about a style and amenities that will make you competitive.
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27 August 2024 | 43 replies
If they cannot guarantee and lock that rate in signed and in writing you have nothing but a promise which is worthless.NEVER pay upfront fees especially for a promise.Almost 100% of the time it is a scam.
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27 August 2024 | 21 replies
Before you get any further, if you haven’t, I would highly recommend writing out your investment goals, your reason for investing, how active you want to be, if you want invest close to home etc.
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26 August 2024 | 24 replies
I see this mostly with new and inexperienced investors which is why I wanted to write this post to help newer investors avoid some of the pitfalls I see every day.
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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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24 August 2024 | 7 replies
Not sure how much that tells you, but might be better than nothing. also depends on the type of property if its a rental being sold then ya most realtors will have a good list of folks looking for a rental with teh right numbers if its owner occ this simply is not remotely possible unless its a certain school district or certain style of home..
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26 August 2024 | 13 replies
Can I write a letter explaining to the renters I bought this property and put a copy of the title with the letter and ask them to start sending me rent?
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25 August 2024 | 61 replies
I just wear so many hats...for example...I do the advertising, selling, hiring, firing, scheduling, payroll, taxes, product research, price negotiation, inspections, insurance meetings, insurance write ups, bank meetings, draw requests, and when I need to I can pick up any tool on any project and do the work better than the lead guy on the crew.
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25 August 2024 | 23 replies
@Brent Coombs you probably were writing you last post as I was writing my last post.The only part that surprises me, is the wholesaler expects the end buyer to pay for all 4 sides of a double close.
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23 August 2024 | 11 replies
The BIG issue is the EX-Wife who wishes to maintain a life style she clearly cannot afford and wants to STAY in the home with the Children BUT cannot AFFORD to make the payments on such DEBT that would allow for that (thus her need for $300K +/- in extra proceeds that would in essence be used to make those payments for the 3 years)Sadly yes there are consequences when families break up, separation's and marital divorce happens.