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23 August 2024 | 54 replies
My returns also got a bit too complicated with niche REI stuff for the great tax guy I used for many years and still does my parents and sisters taxes.They handle other REI guys and attend some REIA groups I went to and knew about bonus depreciation, K1, cost segs, schedule E and HELOC junk used for investing and private lending.
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23 August 2024 | 29 replies
They have mostly been young guys (in their 20's) looking to save money.To determine what to list at, we checked the listing sites we used and looked for similar offerings (Roomies.com, Facebook Marketplace, Roomster.com, etc).
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22 August 2024 | 0 replies
The management of the park will be handled by the property management division of Adam Campo Real Estate {Limited liability company established in 2006/Managing countless properties professionally (as a sole proprietor) since 1999}, and we will be employing a full time on-site manager.
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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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20 August 2024 | 18 replies
Nothing accomplished except to add confusion, complication, and make transactions potentially more difficult to close.
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23 August 2024 | 11 replies
Situation: Tenant is at the local park (not on site at the rental property) and the dog bites someone... are you aware the property owner will be named in the lawsuit?
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22 August 2024 | 2 replies
I've been finding the foreclosure / pre foreclosure site but not owners who still own the property.
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23 August 2024 | 7 replies
You can literally find answers to all of your questions within the confines of this site.
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24 August 2024 | 55 replies
@Timothy Harbison Hey Tim, my wife and I just bought our first 2 duplex in Washburn and was introduced to this site.
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20 August 2024 | 4 replies
No need to over complicate it :D