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Wealthy Way

This Investor Built a Property Management Company as a Side Hustle (YOU CAN TOO!)

Jul 23, 2024
Join Chris J. Luna, a seasoned real estate investor, as he shares tips on boosting NOI, reducing expenses, and utilizing software for property management. Discover innovative ADU building strategies and the importance of faith and starting small in real estate investments.
01:00:47

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Quick takeaways

  • Understanding NOI impact on property value is key for success in property management.
  • Effective expense reduction and revenue increase strategies are vital for maximizing property NOI.

Deep dives

Importance of Net Operating Income in Property Management

To be successful in property management, it is crucial to understand the concept of Net Operating Income (NOI) and how it impacts property valuation. NOI plays a significant role in determining property value, with even a small dollar saved directly influencing the property's worth. By effectively managing expenses and maximizing income through strategies like building back utilities to tenants, providing valet trash services, and optimizing parking, property managers can significantly increase the property's NOI and overall value.

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