AAA382 The Importance of Building Upkeep Long Term Property Management Planning-Scott Isacksen

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] 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) *And please go to iTunes to leave us a rating and write a review. Each review helps us reach a larger audience with your episode (The Creative Real Estate Podcast)