AREI 123: Maintenance Matters: Maximizing Multifamily Investments through Proactive Care Artwork

The Adventures of a Real Estate Investor

Welcome to The Adventures of a Real Estate Investor podcast. Your hosts, Suzy Sevier and Michael Barnhart, interview industry experts and chat with them about their passions and how they are leveraging real estate investing to create an impact in their world. What impact do you want to make? There are almost eight billion people on this planet. What if each of us started with ourselves, our family, our in our community? All we have to do is start with a manageable 1% action every day. The effect of those billions of 1% gestures would be astronomical. This is your place to reflect and believe. Let’s create the greatest ROI, Return on Impact. Join Suzy and Michael every Tuesday to start cultivating those ideas on the impact you want to make in your world! We are so excited you are here, let's get this adventure started.

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The Adventures of a Real Estate Investor

AREI 123: Maintenance Matters: Maximizing Multifamily Investments through Proactive Care

March 19, 2024 • Michael & Suzy • Season 3 • Episode 123

Welcome adventurous family!

Ever felt blindsided by a repair bill on your multifamily property?

In this episode we unveil the power of preventative maintenance. Discover how a proactive approach saves you money, keeps residents happy, and boosts your property value. Plus, a bonus way how tackle common myths about preventative maintenance!

Come join us and listen in and unlock the secrets to maximizing your multifamily investments!

👉 Link to YouTube episode Here

Highlight 1: Why Preventative Maintenance Matters

Importance of project management in business
Challenges of managing properties via reactive approach
Benefits of using preventative maintenance
Explain how preventative maintenance saves money in the long run and prevents future problems

Highlight 2:Case Study: Deferred Maintenance

Example of how deferred maintenance can lead to bigger issues

Highlight 3:Preventative Maintenance Plans

Interior and exterior maintenance
Frequency of inspections (monthly vs quarterly)
Property management company's role

Highlight 4:Benefits of Preventative Maintenance

Increased resident satisfaction
Reduced risk of major problems
Improved property value

Highlight 5:Preventative Maintenance for Single-Family Homes

Addressing the myth that preventative maintenance is only for large properties
Examples of preventative maintenance tasks for single-family rentals

Highlight 6:Recap

Importance of preventative maintenance for real estate investors
Why should you develop a preventative maintenance plan

Highlight 7:Bonus Segment: Multifamily Mythbusters

Myth: Preventative maintenance is unnecessary and too costly
Benefits of preventative maintenance: saves money, extends equipment lifespan, increases resident satisfaction, improves profitability
Call to action: Being proactive, asking about preventative maintenance plans

Tweetable Quotes:

" Overall preventative maintenance is going to save you money in the long run. This might be a long a hard thing to get set up at the beginning, but we promise you it's going to be a fraction of the cost to perform and to execute now, than if you wait for things to progress in the future and it'll make your asset better for selling than disposing of in the future."

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