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27 August 2024 | 11 replies
If you're starting out, an LLC is probably your best bet—it gives you flexibility and protects your personal assets, which is key for real estate.
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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.
26 August 2024 | 17 replies
The standard sell it and rent it back for 4 years is probably the best bet.
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27 August 2024 | 21 replies
If the lender contests the funds release and don't choose to release the escrow funds back to you, it can get tied up in litigation and after 3 years will be surrendered to the state by the title company.Your best bet is to go with a legitimate company that will be up front and transparent with you about the terms and costs before you are already committed.Seems like everyone is telling you the exact same thing so I really do hope you make the right decision here.
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29 August 2024 | 33 replies
Your best bet is find a way to reject them for someone better.
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25 August 2024 | 4 replies
You can bet they do quality work or these huge companies would not be hiring them.
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25 August 2024 | 8 replies
A cattle guard was going to be my other suggestion, but I'm betting those are pricy.
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23 August 2024 | 2 replies
Your best bet to pricing the unit right is to look at the comps and see how fast they've been renting.
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26 August 2024 | 73 replies
@Andrew CarlsonSounds like she’s running a business and I bet that’s against your lease agreement.
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22 August 2024 | 6 replies
I have also bought from a neighbor and such but unless you have some boots on the ground, your best bet would be finding a realtor you like and/or search the MLS.