WS1895 The TCO Method For Property Management | Highlights Andy McQuade

In this highlight episode we feature Andy McQuade, a seasoned consultant in the commercial multifamily real estate sector. Andy shared his insights on common issues faced by operators and how his Total Cost of Ownership (TCO) method is revolutionizing the way they manage and increase their properties' net operating income (NOI) and return on investment (ROI).

Andy's background includes over two decades in the supply side of real estate, which has equipped him with a deep understanding of the challenges operators face. His transition to consulting has allowed him to leverage this experience to help operators enhance their portfolios by adopting best practices from across the industry.

Throughout the conversation, Andy emphasized the importance of looking beyond the initial purchase price of products and considering the long-term costs associated with maintenance, utilities, and disposal. He provided compelling examples, such as the choice between traditional smoke detectors and 10-year sealed units, and the decision to replace flappers in toilets with more durable options. These examples highlighted how operators can save significant amounts of money and time by making more informed purchasing decisions.

Andy also touched on the importance of process costing, which includes all expenses related to a maintenance task, not just the cost of materials but also the labor and associated overheads. He stressed the need for operators to think about the end goal and how every decision, no matter how small, should align with the overall business strategy.

Remember to like, subscribe, and share the Real Estate Syndication Show with friends interested in building wealth through real estate. For those ready to start investing, visit lifebridgecapital.com to begin your journey today.

Click the links below to tune in to the full episodes.

https://lifebridgecapital.com/2023/10/03/increase-your-net-operating-income-with-the-tco-method-andy-mcquade/


https://lifebridgecapital.com/2023/10/02/this-model-could-help-you-save-money-on-every-property-andy-mcquade/

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