How can one maximize occupancy rate in their rental properties?
In this episode of The Real Estate Mindset podcast, we tackle the tricky terrain of property underwriting and asset management challenges with Mike Tarvella. He doesn’t just share the troubles you might face, he provides creative strategies to overcome them. From implementing a non-refundable move-in fee to setting up a surety bond to cover damages and delinquencies, Mike is a wellspring of knowledge.
Mike also shares his experience as an asset manager in Tahoe, where he battled various challenges but remained resilient and determined. He offers up valuable advice on real estate consulting and optimizing investments, utilizing his CPA background to identify stories behind the numbers. Mike’s experiences provide a treasure trove of tips for anyone interested in multifamily ownership and asset management.
What we discuss:
(05:15 - 06:00) Transitioning to GP, Building Income Slowly
(13:28 - 14:59) Rates, Insurance, Leasing, and Expansion
(18:04 - 18:56) Fixing Property Management Issues
(21:27 - 22:51) Creative Strategies for Increasing Occupancy
(25:33 - 26:16) Determining Cost-Effective Property Upgrades
(29:15 - 30:17) Optimizing and Supporting Distressed Groups
(33:54 - 34:47) Discussing Reports and Data Management
To learn more about Mike:
Website: https://www.miketaravella.com/