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.
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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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About Andy McQuade:
Andy McQuade, the Managing Principal at The ARM Companies, uses his extensive experience to guide real estate businesses. With 25 years in the field, he’s worked with a wide range of developers, investors, and operators. He’s not just an experienced consultant, but also the creator of the ‘TCO method’, a unique approach to real estate investment. His specialty lies in commercial multifamily operations, specifically in buy & hold and value-add strategies. These strategies help businesses boost their Net Operating Income (NOI) and Return on Investment (ROI). McQuade holds certifications from esteemed institutions like the National Association of Home Builders and the US Green Building Council. Besides his professional accomplishments, he contributes to his community by serving on the boards of directors for his local home builders association. Moreover, he’s actively involved in running the local chapter of the National Real Estate Investors Association (NREIA).
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