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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 | 19 replies
His post high school plans the last couple of years was to get his real estate agent license, with the ultimate goal of investing.
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23 August 2024 | 3 replies
Ultimately, consider your long-term goals and financial stability when making your decision.
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22 August 2024 | 4 replies
Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.
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23 August 2024 | 1 reply
So my thought is to provide a summary to sellers of the 3 options on the front end which explain the pros/cons with each and ultimately provide them with an estimate of their proceeds based on the option they select.
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23 August 2024 | 11 replies
This streamlines the defense, reducing legal expenses which the owner (or their insurance company) is ultimately responsible for.
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23 August 2024 | 3 replies
You might have a good team, but ultimately it's your investment.
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25 August 2024 | 23 replies
That is just a good practice as ultimately it is your cash on the line.
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22 August 2024 | 5 replies
At one point I had the thought of trying to get into the weeds of the property myself but ultimately decided that it wouldn't be worth it, for me at least.Anyway, the point is that I want it to not look the way it does lol.
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23 August 2024 | 19 replies
Ultimately, someone will only mentor you if you are able to add value to their business.