A few extra ways to increase your NOI! :)
When you are out and about looking for properties, always look for those "hidden" value add potentials to be able to juice your NOI (net operating income) in addition to rents!
Some of the potential areas for value add include:
🔒 Creating basic individual storage lockers/cages for extra space to rent for each unit. (I have seen these many times just made of plywood, chicken wire, and a lock!)
🪙 Installing a coin op washer/dryer set up in a basement/common area if applicable.
🚙 Renting out extra parking spots/garage bays if applicable.
There are many ways to be able to increase your net operating income in your properties, try to monetize any extra space that you have 😁!
Have a kickass Wednesday guys!
-Kyle
#Worcester #Lowell #Boston #Leominster #Gardner #Fitchburg