Jason Yarusi from Yarusi Holdings joins us today to give some practical advice for saving on controllable expenses. The first place where you want to start is with your utilities, and he shares how little adjustments in terms of water and electricity can make a big difference. Another area with cost-saving potential is contracts. When you have had the same service provider for years, it is easy to lose track of their rates and in doing so, you could be overpaying on services. That is why Jason advises listeners to renegotiate prices every year. When you start making these small upgrades to your property, be sure to include your tenants in the conversation and get their buy-in before you bump up the rent. The conversation concludes with Jason encouraging listeners to remain persistent in their real estate endeavors.
Key Points From This Episode:
- Get a quick overview of Jason and his wife’s multifamily syndication firm and where they invest.
- The biggest controllable expenses and what can be done to keep costs down.
- The importance of paying attention to utilities and strategies for keeping the water bill at a minimum.
- What Jason and his team are doing to save on the cost of electricity.
- Paying attention to your contracts to ensure that you are not overpaying on services.
- How they go about evaluating properties based on controllable expenses.
- Communicating with tenants and getting their buy-in on your vision for the property before increasing rent.
- Green strategies for saving expenses without compromising the property.
- The superpower of persistence, moving forward, and tracking what you do.
“Now is the time to get into your numbers and make sure that there are not things running wild.” — @JasonYarusi [0:05:06]
“You just need to keep consistent on it and really just be persistent.” — @JasonYarusi [0:10:46]
Links Mentioned in Today’s Episode: