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Podcast: The Best Ever CRE Show
Episode: JF3385: 3 Ways to Reduce Expenses on Multifamily Properties ft. Matt Picheny
Description: Matt Picheny, a real estate investor and coach with a portfolio of over 4,500 multifamily units, shares his strategies for navigating around increasing expenses, including evaluating your budget for potential savings, creating additional income where possible, and contesting property taxes when appropriate. Key Takeaways: Expense Reduction Strategies: Matt emphasizes the importance of scrutinizing every line item in the financials, questioning vendor relationships, and seeking opportunities to reduce expenses. He highlights negotiating insurance and taxes, renegotiating contracts, and in-house hiring for specific trades as effective methods to cut costs. Property Tax Contesting: Matt shares his experience with contesting...