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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 | 6 replies
Sometimes, I see people add bedrooms when it doesn't make sense.It's often not as simple as just putting up a wall because you need lights, outlets, and proper ventilation.
30 August 2024 | 70 replies
It was the best decision I ever made, and I am not saying this lightly.
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26 August 2024 | 28 replies
Typical "surprises" for investors are ELECTRICAL hard wired, interconnected smoke/carbon detectors - tamper free outlets and 20 amp GFCIs at kitchen counters, romex or bx wiring and covered closet lighting.
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26 August 2024 | 44 replies
I'd also see if they are doing things to help keep the house cool during the day-keeping windows closed, having curtains or blinds closed to reduce the amount of direct light coming in (ie literally the sun shining in through the windows-not simple daylight).
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25 August 2024 | 61 replies
Remove acoustic, paint walls light tans, use composite wood floors.
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23 August 2024 | 17 replies
In light of the fact that the leases are a scam I would not feel guilty but would still try to prove the leases are not valid first.
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22 August 2024 | 7 replies
But then again flipside, that may light a wildfire under her and make her go scorched earth on you.
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21 August 2024 | 5 replies
I plan on demolishing & doing ground up construction, with common areas including garden beds, light workout area & gathering space .
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21 August 2024 | 9 replies
They treat their employees really goodWhich I think is a green light