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25 August 2024 | 30 replies
I do not know anyone, I had to do the repairs myself.
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24 August 2024 | 11 replies
You'll have to compare the value now to what you think it'll be after the repairs to see if it makes sense to do a HELOC and refi.
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20 August 2024 | 11 replies
As Brandon Turner, one of the BP OG's advises, evaluate at least 10 properties per week to see if they are worth investing in/flipping/whatever your focus is because this builds your "investor muscles" so you will know a good deal when it comes up.
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24 August 2024 | 9 replies
They would still be responsible for repairing any damage above normal wear and tear.
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24 August 2024 | 9 replies
Repair my credit, build capital with W2, continue to educate myself, make smarter and educated steps.
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27 August 2024 | 43 replies
Instead of getting 100% financing, I would have only ended up with a couple thousand in hand for repairs.
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22 August 2024 | 4 replies
Many times when working on a problem its difficult or sometimes impossible to make a repair without causing additional damage that needs repair.
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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 | 0 replies
The foundation was completely rotted out and the house was falling in on itself, but after repairs it has made a great home to two different families.