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23 August 2024 | 5 replies
I’m relatively new to this with minimal knowledge from listening to the bigger pockets podcast, but would be grateful to meet any new connections to help me in this journey.
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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 | 4 replies
But I’d like to be cash flow positive even if minimal.
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23 August 2024 | 4 replies
After that, the LLC could potentially gift or sell the property to you, which would likely trigger capital gains taxes.Another option could be to transfer ownership gradually through gifting shares of the LLC to you over time, which may help minimize tax impacts.
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22 August 2024 | 7 replies
She is open to seller financing the house and we would like to make sure that I covered all the necessary requirements for this type of transaction and to minimize any tax implications on her end as well.
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22 August 2024 | 0 replies
Also negotiated seller concessions so I had minimal cash out of pocket.
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26 August 2024 | 44 replies
We educate our guests the difference between 68, 72 or even 78 is minimal when the temps are 110 plus.
24 August 2024 | 55 replies
For folks with high number of votes, the difference is minimal.
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21 August 2024 | 1 reply
1) Significant Rate Decrease2) Minimal Rate Decrease3) Keep Rates Steady
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22 August 2024 | 0 replies
This will help to minimize legal liability and any concerns that could arise regarding employee theft (We plan to retroactively count the RV rooftops present at noon each recorded day (every 30 days), and compare it to the park management software/bank statements as a system of checks and balances.