AREI 124: Unlocking Success: The Critical Role of CAPEX and Unit Turn Tracking in Multifamily Asset Management 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 124: Unlocking Success: The Critical Role of CAPEX and Unit Turn Tracking in Multifamily Asset Management

April 02, 2024 • Michael & Suzy • Season 3 • Episode 124

Welcome adventurous family!

In this episode of we share with you why maintenance matters and we look into the critical, but often overlooked, world of CapEx and unit turn tracking. Learn how strategic planning and smart tracking systems can maximize your ROI, improve resident satisfaction, and keep your budget on track. Come join us and listen in and unlock the full potential of your multifamily assets!

👉Watch the YouTube episode here!

CapEx Tracking

What is CapEx and why is it important to track it?
Categorizing CapEx for accurate financial reporting
Including a contingency budget for unexpected costs
Case study: Overspending on unnecessary unit turns

Maximizing ROI through CapEx Projects

Examples of CapEx projects that increase value (washer/dryer hookups)
Importance of planning and budgeting for CapEx projects
Tracking CapEx spending with a spreadsheet
Ensuring accountability for all parties involved

Unit Turn Tracking

Importance of tracking unit turns alongside CapEx
Data-driven approach to analyzing unit turn costs
Identifying areas for improvement in the turn process
Using unit turn data to hold property managers accountable

Benefits of Meticulous Tracking

Improved budgeting and cost control
Increased ROI through strategic CapEx allocation
Higher resident satisfaction through well-maintained units

Myth Busted: Does CapEx Tracking Really Matter?

Addressing the misconception that CapEx tracking is unnecessary
How neglecting CapEx tracking can lead to significant financial losses

Tweetable Quotes:

" Neglecting CapEx expenses will lead to significant financial losses in the long run."

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