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24 August 2024 | 6 replies
I actually wrote down all the appliances and capex items and amortized it based on the projected life expectancy and it all comes to just over 15%!
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25 August 2024 | 12 replies
I would say it all depends on location.For me, Home Depot is the most convenient for building materials (wood, sheetrock, screws), but for finishes including appliances, cabinets, windows, and flooring, I shop around my local distributors.
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29 August 2024 | 43 replies
Are the appliances good enough?
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25 August 2024 | 10 replies
If it's the actual use, maybe you can narrow it down to a specific appliance?
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25 August 2024 | 10 replies
I get them to cover closing costs, add in amenities like appliances, window covering, water softeners, all the things we would have to pay for, they pay for, $ not out of our pocket is $ "discounted".
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24 August 2024 | 9 replies
I have found that a good rule of thumb is $10k for all your furniture appliances and essentials for an average unit, plus another $2k - $3k per bedroom.
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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
Our standard finishes typically include: - Stainless Steel Appliance Package (Yes, All Appliances Included) - Quartz Countertops in Kitchen & Bathrooms - Covered Lanai - Fully Tiled Showers - 9'4" Ceilings - 8' Doors - His & Her Walk-in Closets - Ring DoorbellThese are just some of the features that come standard in our homes, not as expensive upgrades.
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22 August 2024 | 9 replies
So you just need to decide if you want to run a 6 month rental where you provide utilities & appliances and maybe furniture, and if you do then what you want to charge for that service.
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22 August 2024 | 4 replies
What about insulation, trim, appliances, the wood floor, etc?