Will Mejia
Just sold a Rental Property. IRS is going to kill my gains help!!!
30 August 2024 | 29 replies
If you're unsure, I would say put a minimum of 30% of the funds you received aside for taxes and use the rest to invest towards that goal you want.If it helps set you at ease, none of our clients have ever been "killed" by the IRS, we haven't seen that dark side of them, yet.
James J Canull
Washington Blvd Cosmetic Flip
24 August 2024 | 2 replies
The kitchen cabinets were three different colors, so I knew unifying them would help visually.
Cheng Bin Zhang
How to ADU in Massachusetts
28 August 2024 | 5 replies
In total, we spent about 6 months ironing down the window size, materials, color, and any exterior changes visible from the street.Getting Exterior Changes ApprovedGETTING TO WORKOnce you get through historic and planning, the building department (ISD) is a whole different animal to wrestle.
Loren Howe
My Commercial purchase experience
29 August 2024 | 2 replies
SFH deal with schools, jobs, paint color, yard size, etc.
Andrew Acuna
What is everyone's obsession with hiring PMs!?!
4 September 2024 | 84 replies
Training them simply means you control the conversation and interaction not them.An example, a tenant calls and says, "can you paint my apt a different color, I don't like it".
James McGovern
How do you identfy an agent that has successfully negotiated steep discounts on New..
26 August 2024 | 15 replies
Things like wrong brick or brick color.
Michael Baum
Deep Theme Design Trends
25 August 2024 | 11 replies
So is the brightly colored over the top places.
Lawrence Barnes
Roof on house Flip Question
25 August 2024 | 8 replies
Shingle manufacturers change their colors every 5-8yrs, so you should be able to find the same matching shingle and blend it into the existing.
Corey Dutton
Are 100% Financing Loans for Rehabs a Scam?
27 August 2024 | 43 replies
Specifying colors, tile, cabinets or anything else in a rehab is directing the borrower.
Robert Rixer
Creative Ways to Boost NOI
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.