Bill Miller

Austin: Housing Costs Drop 2%, Listings Surge 36% #realestate #realtor #dreamhomes #homebuyers #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting #housingmarket

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A unique investment model that combines the best from common investment model. Book a call today to learn what makes S.C.D.C the best real estate investing model for both brand new and experience investors. https://lnkd.in/dhRuv_mC

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Remodel project is the main theme for “value-add” Multifamily investment, because it is the single most powerful lever for increasing the revenue, NOI , and the valuation of a property. High-profile Tenant will pay for it. The appraiser gives a thumb for it, the lender nods on it, the insurance carrier likes it. Also, any potential buyers (1031 exchanger) who don’t want the hustle of dealing with contractors and “surprises” tend to pay a premium during the exit of my investment. However, remodel project and general construction management work are not a easy job, and mostly “dirty work” actually that needs experience (learnt in a hard way) to navigate through. Recently, my team finished a cash-out refinancing for a property that we acquired 7 months ago, and we successfully remodeled 17 units during that period, and we could distribute $1.2M cash to my investors and myself (about 33% of our initial investment equity). We saved 45% of the original interior remodel project budget to finish all those works. It is a testimony for this business model and the strong execution of my team. I’d like to share some tips with my community in a series of posts. If you needs to remodel your primary home, I believe my tips are useful too. I will share the first tip in this post, and more when I have more free time during my trip in Hawaii in next few days. Tip #1: we adopt the approach in the reshared post below. The reasons ? Anyone who has been in this tough business for some time tends to agree that “the last 5%” of remodel project is the hardest, because those works are hard to standaize, e.g., sometimes from surprising discovery only when you tear down a drywall behind the bathtub, which means it is hard to include in the scope of work of a standard contract, it needs adhoc negotiation with the contractors, and it usually delays the day when your remodeled unit could bring the first check of rent payment. So, we tend to build the second crew of handymen, who are skilled to handle those “last 5% work” in a remodel project, and charge a much more reasonable price (usually by hours or by day, in a standard way how we work in the past projects). The “main work” contractors are happy to move on their next profitable project, and handyman thanks me for bringing jobs to them (and tend to respect and help my team when we need emergency fix, investors are happy to see the projects done on-time and with budget saving.

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Yesterday, the Federal Housing Administration and HUD Office of Housing (#FHA) announced plans to increase allowable leverage on FHA-insured #multifamily loans. As a rule of thumb for a 300-unit property in Texas, if these changes are adopted as proposed, they will: -         Increase Market-Rate new construction loans $1-2 million; and -         Increase Workforce Housing/PFC new construction loans $2-3 million. The proposed changes will also increase leverage for nearly all refinance transactions (including LIHTC properties). Even now, prior to these changes taking effect, FHA multifamily loans provide the highest leverage and lowest rate, non-recourse debt, available to multifamily owners and developers. #housing

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Rently is proud to partner with the 2024 Multifamily Innovation & AI Summit, happening December 4-5 in Phoenix, AZ. 🌟 Let's connect and discuss how AI is unlocking new possibilities for property management. See you there! Multifamily Leadership #MultifamilyInnovation #AIFuture #Rently #AI

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Zach Beck was put in the "hotter seat" at SFR West and he crushed it! 👏 Zach was part of a panel that analyzed how technology is reshaping property management, especially how we handle utilities. Thank you, Zach, for representing Conservice and driving the conversation forward! #Conservice #TheUtilityExperts #SFRWest #UtilityTech

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Austin Cuts Lot Size to Boost Housing #realestate #realtor #dreamhomes #homebuyers #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting #housingmarket

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Home inventory up in Austin: buyers search outside of city limits Contact me to discuss the latest scoop in real estate! #realestate #realtor #dreamhomes #homebuyers #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting #housingmarket

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Report: A quarter of Austin renters spend half their income on housing Contact me to discuss the latest scoop in real estate! #realestate #realtor #dreamhomes #homebuyers #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting #housingmarket

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Buy Real Estate in Austin; Be Rich in 10 Years #realestate #realtor #dreamhomes #homebuyers #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting #housingmarket

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