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26 August 2024 | 2 replies
@Nina PenuelaOne of the things we have seen, specifically in Ohio and Indiana is local building authorities target out of street owners with ridiculous fines and make life miserable.Had one where the porch light was out and charged a $50 fine.Another one claimed grass was not cut because it rained for 1+ week and did a $400 fine.
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28 August 2024 | 18 replies
As once they start reducing the Fed Funds rate, prime will come down and so will interest costs on HELOCs.
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24 August 2024 | 3 replies
We had a huge downward revision to the BLS jobs growth figures, the Fed minutes explicitly said that a rate cut on Sept 18 was likely, and average mortgage rates moved below 6.5% (and are now 1% lower than they were a year ago).July housing starts disappoint.
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27 August 2024 | 21 replies
the lady trying to borrow had this great notion but no experience and the property she was trying to buy I happened to know very well it was in Clear Lake CA no way it could be developed.. but she had a dream and Remington fed into that dream.
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23 August 2024 | 13 replies
There really isn't much yard and no grass for a landscaper, so would not need a landscape contract, but I was not anticipating the amount of maintenance for weeds and debris.
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24 August 2024 | 9 replies
Also, if I receive an application from a renter with a LARGE service dog, am I required to accept it, knowing that the grass in the small patch of lawn will not survive it (I am currently having to resod because of a departing renter's big dog).THANKS in advance.
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26 August 2024 | 34 replies
And the fed is making it pretty clear they're not dropping rates any time soon.
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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 | 5 replies
Here's why. 1) If you take 6K off the loan amount, it drops your payment $41.44 per month but, if you take the same 6K and buy down your rate by .375%, your payment drops $226.73 per month. 2) While experts are predicting the Feds will cut the Fed Fund Rate, that doesn’t have a direct correlation to mortgage rates.