Logan M.
Pre-Lease Signing Incentives
19 April 2024 | 5 replies
I want to put in place some incentives for new tenants and want to know if anyone on BiggerPockets has done something similar.Here are a few ideas I have had:First Month Free: Sign a 13-month lease and get your first month freePets: No pet fee for the first 6 months, year, etcRent Discounts: Offer a discounted rent for the first month or two fortenants who sign a pre-lease agreement before a certain date.Waived Fees: Waive application fees, administrative fees, or securitydeposit for tenants who pre-lease.Free Utilities: Offer to cover utilities such as water, electricity,or internet for a certain period for tenants who sign a pre-lease.Upgrade Packages: Provide upgrades or amenities such as free parking,access to a fitness center, or a smart home package for those whopre-lease.Gift Cards or Vouchers: Offer gift cards or vouchers to localbusinesses such as restaurants, cafes, or grocery stores as a signingbonus.Flexible Lease Terms: Offer flexible lease terms, such as shorterlease lengths or the option to renew at the same rate, to incentivizetenants to pre-lease.Refer-a-Friend Program: Encourage current tenants to refer friends orfamily by offering them a reward if their referral signs a pre-leaseagreement.Early Move-In: Allow tenants who pre-lease to move in a few days earlyat no additional cost.Guaranteed Parking: If parking is limited, offer guaranteed parkingspots for tenants who sign a pre-lease agreement.
Alex S.
Escrow shortage, so Mortgage going up to cover it, and losing cashflow on Rental Prop
19 April 2024 | 9 replies
Mortgage all in was $1300Mortgage for Apr 2024-Apr 2025 w/ additional escrow coverage = $2150.
Joy D.
Garage Conversion to Living Space
21 April 2024 | 41 replies
Not saying you should, check first of course.Depends heavily on the AHJ where you're located and whether or not you have a pre-existing relationship with them.
Lulu Lue
203K Loans Impossible (!) Says the Lender
19 April 2024 | 3 replies
The last lender I’ve tried to get a pre-approval had a, imo, patronizing response saying,”Although lots of people talk on social media about buying a three or four unit property with only 3.5% down in practice it almost never works.”All lenders who I’ve tried to give a pre-approval for has tried to sway me to switch to a 5% conventional instead.
Abdul King
Proof of Funds
20 April 2024 | 22 replies
In that case, you'd show a pre-approval letter from a lender instead of POF.
James Wise
NAR Lawsuit Settled! Offering Buyer Agent Commissions in the MLS now Illegal!!!
25 April 2024 | 209 replies
We have a pre inspection done, then list with a clean report as any minor item as been fixed.
Matthew Masoud
What Percentage of your reservations come from Airbnb?
18 April 2024 | 36 replies
Our ski in/ski out STR in Colorado only went online late Dec. 2023 so my data is very limited.
Tomoko Hale
Hold or do something?
17 April 2024 | 4 replies
There are ski resorts close to our property, and the lake is a very popular destination for families and friends to visit during the summer and fall.
Julian Colvard
Which bank allows for multiple accounts?
17 April 2024 | 18 replies
Quote from @Daniel Johnson: I think the thing that is being missed here is the Profit First method of allocating revenue to different “buckets” there are banks that do this automatically for you, whereas, with a traditional bank you would manually have to do this.Are these buckets brand new accounts withe one bank for the same business, or are the buckets new accounts under a pre-exsing account?
Tyler Austin
Question about wholesaling
17 April 2024 | 12 replies
It might just be a mute point. if you had a pre existing relationship with a buyer it should take care of itself.