We guarantee you will boost your NOI by at least $60,000 on a 100-unit property!
Whether you presently own a property or are in the pre-purchase process, identifying hidden potential and possessing strategies and procedures to realize greater NOI gives you a significant advantage.
The Million Dollar Maintenance Man will give you a custom-tailored NOI growth strategy that WILL NOT require a capital expense. Yes, that’s right. No more additional capital expenses. Your NOI growth strategy will be fitted to the condition, needs, and market of your property. It will reveal, enhance, and utilize your property’s hidden NOI growth potential.
We use many years of practical on-site multifamily experience to look beyond the present limits of your multifamily property. NOI growth targets will be achieved through identifying, quantifying, and clearly presenting goals and procedures to accomplish them. We will do this with clarity and simplicity that gets results…without replacing kitchens or bathrooms!
How to Keep Control of Your Multifamily Property and Maximize Profit
Who Is the Million Dollar Maintenance Man?
David Hodges
Operations Consultant
Savvy, smart multifamily owners and operators hire David Hodges, the “Million Dollar Maintenance Man,” because he uniquely combines his expertise in multifamily property management gained from years in the industry, with his professional experience in the trades including plumbing, HVAC, electrical, roofing, flooring, and glazing to recognize hidden value others cannot see. He then lays out simple steps to monetize what he uncovers, resulting in NOI increases in the tens of thousands of dollars and owners’ income by millions of dollars. And he does it without requiring major capital expenses or remodeling kitchens and bathrooms.
Why leave money on the table?
This hardware installed in the right place can save $1,000 to $2,000 per apartment! And less than 1% of apartments are using this method!
When your management implements our recommended procedures and achieves the clearly defined goals, your property will stand out to rental prospects. It will present as a more attractive dwelling that residents are willing to pay a premium for. Behind the scenes the property will be more efficient and costs less to operate.
Your client base will shift to those who are willing to pay more to live in an apartment that is costing you less to provide. The entire culture on the property will shift and its appeal will grow because you have a more attractive offering than before. Apartment turnover time and costs will plummet and turnover cost-recovery rate will soar because those who are willing and able to pay more tend to take much better care of themselves and their dwelling. You will also have few or no costly deposit account grievances.
The value your property offers will be unashamedly obvious when compared to your competition in three main areas: the grounds, in the units, and on your balance sheet!
Most importantly: Your operating costs will drop, your income will climb, and your NOI will increase!
Codes and The Million Dollar Maintenance Man
Building codes exist to promote safe building practices.
Plumbing codes exist primarily to protect the public health.
Electric codes exist to safely provide electrical service.
Each consist of minimum standards that, when followed, provide safe sanitary environments to live or work, buy and sell, educate or recreate in.
None of these minimum standards are created to maximize value in any building.
Going beyond minimum code standards can add a million dollars or more to a 100-unit Multifamily property’s value.
Fill out the Property Questionnaire and a schedule your free Property evaluation.
The Process
Every Multifamily property is the same. Every multifamily property is different.
All are all the same in that they have foundations walls roofs doors and windows. All have the potential to provide shelter in return for rental income.
All are different in shapes and sizes of units and the footprint, age, and condition of the property. All have different income and expense history and economic potential. All are in various locations in urban, suburban, or smalltown environments. And every multifamily property has unique history and an individual culture all its own. All these factors contribute to the economic potential of multifamily property.
A Preliminary Evaluation is Essential
The preliminary evaluation requires completing a Basic Property Information Questionnaire. It includes the location of the property, it’s age, any capital improvements and when those improvements were effected. We also require trailing 12 financials in detail. We keep this information strictly confidential and only use it to determine what to include in your custom-tailored NOI Growth Proposal.
Following receipt of the preliminary evaluation a full custom-tailored NOI growth proposal is developed and presented.
When the growth proposal is accepted a contract is executed and contract funds are placed in a third-party escrow. This eliminates any risk that monies paid up front will not be commensurately honored unless contracted services are fulfilled.
The Property Assessment
This in-depth detailed assessment requires access to the property, including its operating policies and procedures, its on-site staff, and the operating budget.
No one knows a property better than the on-site management and maintenance staff. On-site property evaluation includes interviewing office and maintenance staff and inspecting the interior and exterior components and mechanical equipment.
The assessment also includes a comprehensive study of the operating budget including forecasted and actual income and expenses.
The proposal will include a written review of the property’s financial and physical condition, NOI potential, proposed procedures, costs, and benefits. Included is a projected timeframe for implementation and the effects realized.
The entire report is typically contractually committed to be completed within 30 days of receiving full property access and all requested documentation.
Rate Guidelines
A minimum $60,000 NOI increase is guaranteed for most 100-unit properties. A corresponding $102,000 NOI increase would be guaranteed on a typical 170-unit property. Minimum NOI increase will be determined following the preliminary evaluation and become part of the NOI Growth Strategy Proposal Contract.
Every property is unique. Most NOI Growth Strategy Reports are $12,500 plus travel expenses for the first 100 units and guarantee a minimum $60,000 NOI increase. A 480% return on the $12,500 cost excluding travel.
Each additional unit is $100. For example, a 170-unit property will typically run $19,500, plus travel expenses and guarantees a $102,000 NOI increase. A 523% return on the $19,500 cost excluding travel.
I want to be very clear that this is not a passive investment. You are purchasing a custom-tailored NOI Growth Strategy.
The property management and maintenance staff must participate to implement the recommended actions and achieve each clearly defined objective.
It is obviously understood a diet book will not cause a person to lose weight. Neither will an auto repair manual fix a car. The information must be implemented to get the desired result. In a similar fashion, to achieve the desired NOI growth the prescribed strategic actions must be implemented consistently and accurately!
The NOI Growth Strategy will NOT include remodeling kitchens or bathrooms. The remodeling of kitchens and or bathrooms can increase NOI, but these are major capital improvements that are not typically considered a core function of operations. These normally fall into the category of Special Projects.
Take the first step now. Complete the basic property information questionnaire and find out just how much money is being left on your table! After all, why leave money on the table when it’s there for the taking?
SCHEDULE YOUR FREE CONSULTATION TODAY!
One tube will cost you thousands, and the other will save you thousands and make you millions.
