All Forum Posts by: Andrew Syrios
Andrew Syrios has started 74 posts and replied 10135 times.
Post: What are the most cost-effective add-ons/repairs to raise rent???
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Originally posted by @Rohan J.:
I just had a tenant move out of one of the units in my duplexes (in Kansas City if that matters), and it looks like there is some repair work that needs to be done on the cabinets, paint, carpet, door handles, etc.
While I certainly will take care of those issues, I also want to use this opportunity to do things inside the rental that would increase rent.... but I'm not sure where my money would be best spent.
I would love to hear what BP thinks are the best things to focus on when trying to fix things that could cause a higher rent value in the tenants eyes?
What's the order of importance usually?
And do you use any specific material for certain items?
Some really small things that just improve the appearance (and smell for that matter) of the property can really help. I wrote an article on this you may find interesting: https://www.biggerpockets.com/renewsblog/13-ways-increase-rent-add-rental-property/
Post: New member - hoping to learn a lot of new info!
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome aboard Dana and best of luck investing!
Post: Newbie from Lancaster, PA, now living in Redondo Beach, CA
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome to BiggerPockets Alison and good luck investing!
Post: What's the best way to sell a small package of rentals?
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
In those areas, if it's just a couple, I would sell them individually. If there are a bunch (over 5) maybe sell them as a group or at least offer them as a group and also off them individually. By the way, those are my areas, so if you have prices and addresses, please PM me.
Post: New guy from Washington DC looking to wholesale!
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome to BP Donte and good luck wholesaling!
Post: Newbie from New York
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Welcome to BiggerPockets and good luck investing Matija!
Post: Isnt hard money same as cash?
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Hard money loans are still considered loans. Sellers who want cash only are looking for that because they want a guaranteed close (i.e. they don't want to risk the financing falling through, which can potentially happen on a hard money loan just like a bank loan). That being said, cash only sellers will sometimes take financed offers (assuming it's not an institution with rigid rules). Everything is negotiable.
Post: The BiggerPockets Podcast - 25 MILLION downloads - and counting
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
That's awesome, congrats!
Post: Can I buy a condo from myself?
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
Have you talked to any local banks? They're usually the best when it comes to things that federally insured type mortgages won't lend on and they'll certainly give you a better rate than 9%. Although many of them don't like condos in my experience. But you only need to find one.
Post: If forced to restart..how would you do it?
- Residential Real Estate Investor
- Kansas City, MO
- Posts 10,502
- Votes 5,099
I think I would start building capital, probably with a job, while simultaneously looking to find private lenders that could help finance a flip or maybe even a hold.