Page 231 - Trump University Commercial Real Estate 101

Y ou’ll Never Get Rich by Y ourself

Your maintenance specialist should be HVAC certifi ed . This will
save you a lot of money on subcontracting. It would be good if he

held electrical certifications as well. A good maintenance staff will
not only save you money, but will keep your tenants happy. They ’ ll
get repairs done quickly, which will help to justify above - market
rents. In turn, that will enable you eventually to sell the property for
top dollar.
Now do you see why you ’ ll have no time to lick envelopes and
answer the phone? You must get people to do those tasks, so that you
can focus on crafting your team in each market.
Some investors make the mistake of putting only a couple of team
members in place before they move on to another market. That ’ s no
way to extract maximum dollars from one of your target markets. Fin-
ish what you start. Get that team fully developed, and you can harvest
profits from that market for years to come.

In the Next Chapter

It has been said that you make your profit when you buy a property.
That may be true, but it ignores a very important source of additional
profi t — the way your property is managed while you own it.
In the next chapter we explore in more detail the steps you take to
work with the property manager to maximize your current and ulti-
mate paydays.

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