OfflineWhat are good trikcs on saving money on multiple rental properties and what are goog way on increasing your property counts. New to this and just trying to get enough info before i start my journey on hopefully owning multi-family homes an even moving up to small complexes so if you have any good info, please feel free to share.
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I can't stress this enough. Purchase your supplies (general items) in surplus and similarity. Keep it simple.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
The best way to save on expenses for rentals is to buy at your big name home improvement places in contractor's bulk. Alot of them will sell different items especially for contractor's. I buy alot of the oops paint that are neutral colors. I find your basic antique white or linen, stock colors are best for rentals in a satin or eggshell fininsh, semi gloss for trims and doors. All washable finishes. You can buy these items in 5 gallons, so that it makes retouching easier. I always look for floor samples or discontinued items. For example lowes in particular have to lower the price every month until the item is gone. I was able to get 10 200 priced storm doors for 10 dollars each! As for appliances they are great with their floor samples. Sear also has a clearance store for their discos and scratch and dents. Or places such as PC Richards have certain items they sell at a crazy low offer just for contractors if you are buying multiples. Continued success......Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Here is a great site that can help you with the management side.
www.buildium.com
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Find a contractor that you can trust and that you can take with you when viewing properties. Ask around and see if you can find an honest one, this can help you a lot! If you are going to be owning multiple units then it might be worth it to have a property management company that will collect rents for you and take care of things that need to be done.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen