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.
Luis De la Puente
How Do You Keep Your Fix-and-Flip Projects on Track in a Competitive Market?
21 August 2024 | 4 replies
Bonus, get the points from Lowes or HomeDepot.
Taylor Cook
Who manages your books for your rental?
24 August 2024 | 18 replies
A bookkeeping professional will "translate" the PM's data into your master accounting platform each month so all of those transactions are accounted for.This allows you to see how your business(es) as a whole is doing financially in addition to how each property is doing.We actually catch a lot of mistakes doing this for our Clients as an added bonus.
Ken Livingston
Anyone worked with Ohio Elite PM company?
22 August 2024 | 20 replies
ERA is trying to start sending us small referral bonuses but they have not figured out their tracking yet.
Chris Anderson
Selling 2nd position mortgage Portfolio
22 August 2024 | 3 replies
Mainly it was kind of a bonus to us since we sold for significantly more then we valued the portfolio at, and without an agent.
Monico Lorenzana
Understanding the market
21 August 2024 | 9 replies
@Monico LorenzanaThe types of units that attract long term tenants in multifamily are the townhome style units, and if they have garages, a big bonus.
Beth Julen
Can I amend my 2022 return to add rental and depreciation?
20 August 2024 | 13 replies
I used TurboTax - bonus points if you know how to make this change there.
Allen Tracy
California CPA Recommendation
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.
George Willey
Equity Options for Property in an LLC
20 August 2024 | 5 replies
Bonus points if you can suggest lenders in AZ...
Marcos Altamirano Toriz
what CRM do you use?
21 August 2024 | 18 replies
Bonus, don't have to pay additional if you have Zoho One.