AAA382 The Importance of Building Upkeep Long Term Property Management Planning-Scott Isacksen
Creative Real Estate Podcast · Jason Lewis
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Show Notes
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 [email protected]
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