Creative Real Estate Podcast

May 8, 2020

In this podcast, you'll learn:

• What are Party Walls?
• In a HOA, the board is required to every certain number of year to have a comprehensive reserve study
• Not tracking all the large scale capital items will make a huge impact on your overall profit on the building
• Main items that people defer that would cost them more in the long run
  • Roofing is huge.
  • Painting
  • Tracking the life of the water heaters

• Identify your equipment and figure out if its going to make an impact
• Water heaters can go 10-15 years. They typically have machine problems within the 12 year mark
• What is a Cost-Benefit Balance?
• Flat roof can last about 20 years
• At about 15 years in any roofing system you should have a roofer go out and check the seals around and vent pipe
  
  • Issues that a flat roof can have
    -Draining
    -Framing
    -Pay attn to where the water exit
  • How to take care of Boilers and Chillers
    -Have a maintenance plan
    -Having someone who check it that specialize in that equipment
    -Take care of the equipment regularly will extend it life
    -Systems vary that you can't put a standard life span on it
• Establish relationships with the property manager and maintenance people.

Book Recommendation: Emerging Real Estate Market by David Lindahl and The 10X rule by Grant Cardone

To connect with Scott, email him at scott@tcibuildingservices.com

Sponsor:
FREE GIVEAWAY: Learn how you can implement the Fix & List strategy by watching Eric Young’s free video lesson at (https://www.fixandlistsecrets.com)

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