8 May 2024 | 0 replies
Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.
19 September 2022 | 41 replies
For basically everything we are measuring right now (not even just real estate related), we need to know how it compares to the 2019 baseline, because without that we cannot tell a "return to the baseline"Â from other patterns (& IÂ suspect most things that are up/down eight zillion percent YoY are just returning to the 2019 baseline -- which is a good thing).Â
19 April 2018 | 91 replies
Net worth and even useful net worth are cool to talk about and they do have their uses, but at a certain point tracking and measuring it becomes a self licking ice cream cone.Â
12 April 2019 | 1 reply
As I have heard said, a person’s success in life can usually be measured by the number of uncomfortable conversations he or she is willing to have.
12 May 2018 | 11 replies
Also, just for good measure, I use MileIQ to track mileage.
8 September 2018 | 60 replies
Tasks: Measuring WindowsOrder WindowsDay 7: Tuesday May 22 2018 – Fix Floor JoistsWhen we first looked at the house we noticed the floors at one spot were sagging.
13 April 2017 | 16 replies
Let him measure physically the risers before you pour.
18 January 2020 | 21 replies
My Menards rep will go to my flips and measure for cabinets, count light fixtures, etc and get a material list together and set up for us to approve.
4 November 2018 | 14 replies
We talk nearly every day because as a vertically-integrated organization our acquisitions and operations divisions are a cohesive team, sharing information on markets, assets, performance, etc because this information is not only valuable in measuring performance on the portfolio but on forecasting the viability of potential acquisition targets.Â
17 May 2024 | 2 replies
While this affiliation might bring certain advantages like integration and streamlined services, it’s also worth noting that many tech entrants in the property management sphere sometimes miss the intricacies of real estate management, focusing heavily on financial aspects instead.If you're looking for alternatives, you might want to consider other established platforms that specialize in property management, like AppFolio or Buildium, which are paid services but widely recognized for their comprehensive features and security measures.