Best Real Estate Investing Advice Ever With Joe Fairless

Matt Picheny, a real estate investor and coach with a portfolio of over 4,500 multifamily units, shares his strategies for navigating around increasing expenses, including evaluating your budget for potential savings, creating additional income where possible, and contesting property taxes when appropriate. Key Takeaways: Expense Reduction Strategies: Matt emphasizes the importance of scrutinizing every line item in the financials, questioning vendor relationships, and seeking opportunities to reduce expenses. He highlights negotiating insurance and taxes, renegotiating contracts, and in-house hiring for specific trades as effective methods to cut costs. Property Tax Contesting: Matt shares his experience with contesting property tax increases, emphasizing that it's an ongoing process. He discusses the alignment of interest with consulting firms that work on a contingency basis, ensuring that they only take on projects where savings are achievable. Acquisitions in the Current Market: Matt outlines his ac