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23 August 2024 | 2 replies
So I'm trying to learn everything I can as I search out my path to gaining the needed capital to get this train rolling.
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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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22 August 2024 | 3 replies
The plan: I am identifying on/off market properties that are targets, will do all of the real estate work (listing, showing, advertising, vetting, etc) and will split the cost of the purchase of the home and the material costs for any needed repairs.The contractor will be subbing out portions of the job and be on site mostly full time until the project is completed.
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25 August 2024 | 57 replies
Hardest thing to train real estate service providers on is when to turn down a client.
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23 August 2024 | 22 replies
That is for people trained to buy property the correct way, but most people aren't trained so they resort to the aforementioned options.
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23 August 2024 | 181 replies
If you train up reireply has a ton of features.
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23 August 2024 | 19 replies
If you want formalized training, your best bet is to take a course and then network like crazy to get in the orbit of other successful syndicators so that you can see how they operate.Here are some resources:Value Hound Academy with Craig HaskellSyndication and Crowdfunding WorkshopGene TrowbridgeJillian Sidoti
20 August 2024 | 2 replies
., off-street parking, on-site laundry, garage, etc).The ultimate plan is to BRRRR, and I'm able to secure verbal agreement from a couple of relatives and friends for financing.
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23 August 2024 | 12 replies
Our sales staff is highly trained in helping customers identify the best HVAC solutions for their needs, and we have technicians with prior installation experience who provide valuable support.Dual fuel systems combine a traditional furnace with a coil designed for use with a heat pump.
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21 August 2024 | 3 replies
If called due (I’ve done several thousand probate deals and it’s happened exactly once because of my early lack of training 40 years ago) you will run the risk of needing to pay of the old loan by refi or selling.