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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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18 August 2024 | 6 replies
The house we are in now is about $200k.
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23 August 2024 | 11 replies
I don't have personal experience, but I hear Charlotte is the fastest growing and has strong rent rates.
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20 August 2024 | 5 replies
This changes everything for house-hackers and investors seeking multi-units.
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23 August 2024 | 3 replies
I have invested as a LP in apartment communities where there is a partnership between a government agency and the ownership group to provide affordable housing in exchange for tax abatements and long-term, low-rate government funding.
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24 August 2024 | 1 reply
I just replace the whole house with laminate floors.
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20 August 2024 | 16 replies
At the end of the day, the purpose/use of the proceeds is for the borrower's personal home (i.e., personal, family, or household purposes), which puts this loan squarely in the consumer loan category.
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23 August 2024 | 54 replies
Does anyone have a tax person they'd recommend?
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21 August 2024 | 94 replies
It’s all about what you pull from the person.
21 August 2024 | 6 replies
They met in person and looked at the house.