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Ep 59 - Building Resilient Properties: Practical Tips for Cost-Effective Management with Andy McQuade
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In this episode, Marty and Andy engage in a detailed conversation about the intricacies of property management and real estate investment. They talk about the importance of planning for the lowest common denominator when choosing materials for properties, discussing the long-term benefits of investing in resilient products and materials that may reduce maintenance and operational costs over time. They explore the challenges of implementing such strategies in a market focused on property flipping and syndication.
Tune in to this episode for more details!
Here are 5 keys you'll learn from this episode:
1. The importance of choosing durable materials and products for property management, planning for the lowest common denominator, and considering the total cost of ownership.
2. How investing in resilient products and materials can pay for itself over time, reducing maintenance and operational costs for property owners.
3. The challenges and advantages of implementing cost-saving measures in the property flipping market, particularly in the context of syndicators.
4. The significance of asset management in real estate and the differences in control in third-party property management organizations.
5. The concept of Total Cost of Ownership in real estate and its application in saving money.
Episode Highlights:
00:35 - Importance of planning for the lowest common denominator in property management.
02:17 - Long-term benefits of investing in resilient products and materials for property savings.
04:15 - Implications of such strategies for vertically integrated property management.
08:12 - Importance of involvement of Andy's expertise in property projects for cost-effective decisions.
10:40 - Financial and time costs associated with maintenance calls.
14:20 - Challenges with implementing cost-saving measures in a market focused on property flipping.
16:55 - Considerations for asset management in real estate.
19:10 - Importance of networking and information sharing through Twitter.
21:45 - Insights into restructuring and CMBS stuff.
26:10 - Impact of property maintenance on insurance rates.
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https://www.webuyhomesroc.com/
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