Robert Rixer
Creative Ways to Boost NOI
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.
Allen Tracy
California CPA Recommendation
23 August 2024 | 54 replies
BiggerPockets now has a CPA referral page:https://www.biggerpockets.com/...
Willis Yoder
Getting Stuck in Real Estate
23 August 2024 | 5 replies
Engaging with past clients through follow-up communications can rekindle interest and generate referrals.
Aaron Dennis
RE business concept - pros/cons
23 August 2024 | 1 reply
I'd like to position myself as a one stop shop for home owners with distressed properties where I'd: 1) Provide a cash offer on there home - (with all the close fast, no hassle things)2) Help them list it or refer them to an agent in their area (keeping in mind that I would likely get a referral fee)3) Renovate their house for them then help them sell - I've got the team and know what renovations move the needleI'm beginning a period of what I hope to be substantial growth and I'd like to increase my flips/rentals at the same time so I'm wanting to ramp up my marketing.
Carlos Lopes
Buying STR in Destin/Fort Walton Beach
26 August 2024 | 25 replies
We had a great realtor and lender if I can be any help with those (and I'm not related to either LOL - so not trying to promote anyone, just offering to help)!
Idalys Samuels
Texas Real Estate Investing
22 August 2024 | 3 replies
Research or get referrals for RE brokers or wholesalers you specialize in off market deals and develop a relationship with them.
Chris Murray
Navigating the 1st steps of REI
23 August 2024 | 14 replies
They should have some resources and referrals to use to get your feet on the ground and get your first deal done.
Ken Livingston
Anyone worked with Ohio Elite PM company?
22 August 2024 | 20 replies
ERA is trying to start sending us small referral bonuses but they have not figured out their tracking yet.
Chris Anderson
Selling 2nd position mortgage Portfolio
22 August 2024 | 3 replies
And soliciting for buyers or a referral to a buyer.
Ruben VanDusen
What's The Point
21 August 2024 | 73 replies
I then asked Mike if he might have a referral for me to a bank..