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8 July 2024 | 2 replies
As a hard money lender who works with many investors in the Portland area, I can share some insights on maintenance costs for multifamily properties in this market, though individual experiences may vary:Lots of investors report a slight decrease in maintenance costs during winter months, bc of:- Fewer landscaping needs - Less wear and tear on HVAC systems (as heating is generally less intensive than summer cooling)- Reduced tenant turnover in winterWinter-specific issues can arise:- Potential roof repairs due to heavy rain or occasional snow- Gutter cleaning and maintenance to prevent water damage- Heating system repairs or maintenancePortland-specific factors:- The mild climate helps reduce extreme weather-related maintenance issues. - Older housing stock in some areas may require more upkeep. - Strict local regulations can also sometimes increase compliance-related maintenance costsCost-saving strategies I've seen help:- Preventative maintenance programs can help reduce overall costs obviously - Some investors report success with in-house maintenance teams for larger portfolios- Energy-efficient upgrades can help reduce utility costs in the long runYour specific costs will depend on factors like the age and condition of your properties, your management style, and the specific neighborhoods you're invested in, but hope this helps!
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9 July 2024 | 18 replies
That is if money is not an obstacle...
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7 July 2024 | 0 replies
Hard Money How did you add value to the deal?
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8 July 2024 | 16 replies
Its your money but I would drive the areas to get a feel for whats around what you are buying .
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7 July 2024 | 12 replies
Over the long run you will pay them MORE than you get that is why purchased warranties and insurances are HUGE money makers for those who provide them.
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7 July 2024 | 0 replies
Hard money How did you add value to the deal?
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7 July 2024 | 0 replies
Hard Money How did you add value to the deal?
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7 July 2024 | 0 replies
Hard Money How did you add value to the deal?
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8 July 2024 | 12 replies
Our market is the same way, either spend the money on a hot tub or expect much lower revenues!
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9 July 2024 | 28 replies
You run the risk of getting yourself in trouble at your level of knowledge about wholesaling or at the very least, wasting money and a lot of time.