Zack childress reviews-Real estate requires lot of funds for investment, but that can be saved using the following strategies of Zack Childress.
Zack Childress reviews on how to reduce you real estate expenses, how to save money
- Make a list
The list will comprise all the expenses you have spent annually which should include repairs, insurance, electricity; this is to check the consistency you have maintained. Identify the expenses which are varying and curtail them. Landscaping contract can be renewed if it has expired which can be negotiated. Scrutinize your property taxes; take the help of financial advisor, accountant, tax advisor to prepare this list. There should be a fall in the property tax if not then you are paying more. Insurance also can be applied only if necessary.
Don’t include commission when you sell a property. It reduces the ability to cut down expenses. Choose a property or condominium with less security deposit.
- Reduce the operating cost
When you opt for energy efficient, eco-friendly homes you save a lot in the longer run and people prefer to occupy such homes faster. Green homes are emerging and it would be nice if your homes also built in such a way. Operating expenses can be of two types: verifiable and non-verifiable expenses. Verifiable expenses are those that occur on frequent basis and can be verified by 3rd party. Property tax comes under verifiable expenses.
Creating office setup with minimum space. This can save you some money. Spacious office with less number of employees is anyway not a good idea. You need not occupy entire office as well. There can be vacant space as well which means there will not be any energy consumed.
Already there real estate companies have taken steps to cut down expenses. The following areas can save you money
- Advertising and media: there are many ways to promote freely. So research and find them.
- Employment screenings, salary
- IT and telecommunication
- Utilities and energy: use motion sensor lights and turn off computers, lights when not in use. Optimize thermostat settings.
There are audit companies who can help you out to save money and re-structure your budget strategies.
For commercial real estate
- Lease: You can negotiate the price by extending your lease periods as landlords would cut down the price if same tenants continue to stay in the same place. He need not seek any tenant or do repair often. Take help or advice of the commercial real estate brokers while negotiating the price.
- You pay rent every month, so see to that you are really in need of that space. If any of your branches in the franchise is not operating, close the entire office setup. Need not pay rent for those unnecessary space.
- CAM (common area maintenance) – get the exact bill every month as it varies because of different services come under this bill.
To know more about on saving real estate expenses and how to prevent from real estate scams read the blogs on Zack Childress quick REI cash system, the investors can make use of it as it gives so many ideas.