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24 August 2024 | 3 replies
Every quarter we get the QCEW (Quarterly Census of Employment and Wages).
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24 August 2024 | 9 replies
For Example, maybe you can add a line to your lease agreement that says, tenant will take care of the lawn upkeep and if it is damaged, they will re sod it at their cost, you could add quarterly inspections
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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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23 August 2024 | 54 replies
Allen, I recommend finding an accountant who specializes in real estate taxation over one that is local.
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22 August 2024 | 4 replies
Is it still a good time to invest in the last quarter of 2024?
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21 August 2024 | 28 replies
You will pay tax at some point in the future.
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23 August 2024 | 11 replies
You can increase income by adding additional "rental units" whether that being an ADU, garage conversion, renting out extra living quarters, renting by room, etc.
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23 August 2024 | 21 replies
It shows you're committed to growing your investment, and that’s exactly what a good property manager (PM) should be helping you with—they are stewards of your hard-earned money.I would suggest approaching the conversation like this: “Hey, I’ve noticed that maintenance expenses this past quarter seem a bit higher than usual.
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23 August 2024 | 10 replies
As an LP in syndications your work is very minimal (review the deal up front, read quarterly update).
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20 August 2024 | 9 replies
The best advice is consulting a cross border tax specialist who also have a good understanding of US real estate laws and taxation.