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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 | 12 replies
I know I could drive all over the place and price shop and save money, buy my free time is worth more than the savings- most of the time.
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28 August 2024 | 39 replies
.- best chance of near term success is local to you, somewhere you can drive roundtrip with time to spend at the property in a day. - reality is MLS listings using realistic expense estimates at high LTV is cash flow negative
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24 August 2024 | 3 replies
It looks like transaction activity has finally bottomed, but we’re still deep in the trough.
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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 | 5 replies
Limited space for expansion ensures a housing shortage, driving up property values and rents.
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26 August 2024 | 25 replies
Those type of things drive rental revenue and attract more guests.
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24 August 2024 | 7 replies
The city has attracted substantial investments from companies like Intel, Google, Honda and more driving job growth, increasing housing demand and boosting property values.
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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.
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24 August 2024 | 10 replies
Will you hit the pavement and find them yourself through marketing, driving for dollars, cold calling?