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28 May 2024 | 11 replies
I don't see any reliable apps that focus on handling maintenance requests for small multifamily owners (2-4 units).
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28 May 2024 | 5 replies
That said, I'd recommend focusing on locations with high sales volume as you will have more options to choose from in these locations.So far this year, 240 multifamily properties (2-4 units) have sold in the Bronx - Source OneKeyMLSThe neighborhoods with the most sold properties are:- Wakefield and surrounding North Bronx neighborhoods (31 sold in '24)- Throggs Neck and surrounding Southeast Bronx neighborhoods (31 sold in '24)- Pelham Gardens (30 sold in '24)- Pelham Bay (28 sold in '24)These areas account for 50% of the recent Bronx multifamily sales... focus here to have more options!
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27 May 2024 | 1 reply
Housing IQ predicts a 9.3% increase in home prices over the next year, with the median sale price expected to rise from the current levels.Inventory and SupplyInventory levels have been gradually increasing but remain below demand, maintaining a seller's market.
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30 May 2024 | 17 replies
I think when you hire a PM you have 3 choices 1) A very small local provider (<15 units) and they tend to me 1-2 person operations, they are the one unclogging toilets, answering guests, etc and it is tough to do everything, so things lack. 2) A large/nationwide provider where you are only a number and they usually lack local resources 3) A mid size local provider who have resources and you are not just a number.Through effective revenue management with a revenue manager, and being listed on 15+ sites including Marriott Homes & Villas, JetBlue and Allegiant Airlines, Hyatt and Amex Travel (coming soon) we are bringing in more revenue than most can self managing, offsetting our fee.One of the top questions I tell people to ask their manager is the fees, who keeps them?
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28 May 2024 | 8 replies
How many units or homes are you managing?
28 May 2024 | 19 replies
Best of luck.Dimitrius Kiritsis hit it right on the head, if I had to add anything from my experiences, learn what a CAP rate, NOI ROI is in your, of course you'll need to look at rents for similar size apt units, I say the main thing is knowing how much the property is bringing in and how much is going out.
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29 May 2024 | 18 replies
I would recommend using a calculator to evaluate future rates and determine at what point in time/rate would you cash-flow at a comfortable level (after capex, repairs, vacancy, pm, etc).
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28 May 2024 | 4 replies
We paid for some FB Marketing for leasing up units in our apartment.
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30 May 2024 | 25 replies
Photograph or video the empty unit and get the place ready for the next tenant.
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29 May 2024 | 21 replies
I have been investing in Single Family and am now looking for multi-family 10-30 units.