#194: How To Make Your Multifamily Business Successful with David Hodges

podcast Jan 04, 2023

One of my successful clients, David Hodges also known as “The Million-Dollar Maintenance Man” walks you through how to make your multifamily business successful by teaching you how to increase your NOI.

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How To Make Your Multifamily Business Successful with David Hodges

In 1971 his first job in Multifamily was cleaning the swimming pool in the apartment complex where he lived. At 20 years old David was hired as onsite property maintenance staff at a Young Life Camp in the Sierra Nevada Mountains. He was responsible to maintain 28 houses, a large swimming pool, the drinking/freshwater system that daily provided water for 500 people, and the sewage treatment plant for the same population.

At 21 David was hired to manage a 60-unit Class B property in Santa Barbara California and stayed for 12+ years. His turnover recovery rate hovered around 80% with an annual turnover of 100% most years.

His apartments had the highest rent PSF in our Class B market and occupancy was usually above 88%. He was frequently sent to other properties managed by the same company to get things in order and train other on-site staff. David was also director of maintenance at a large commercial building with 17 staff and a $480k annual maintenance budget. There he saved $118K from the operating budget in the first year and simultaneously increased the level of service and equipment reliability. David did this by identifying and correcting inefficiencies in policy, procedures, and equipment.

He founded and operated a plumbing service and repair company with an HVAC division that served many Santa Barbara customers including two royal families and heads of major corporations. Included were Mike Love of the Beach Boys, Hale Milgram CEO of Capitol Records, and Leonard Bernstein Conductor Composer, and Pianist.

David held 2 California specialty contractor licenses and never had a complaint filed with the State Contractor's board. He was factory trained for Carrier, Bryant, Day & Night. and Payne HVAC equipment. He was a field consultant to York HVAC equipment company. As an HVAC business owner, he joined a consortium of owners who negotiated equipment purchasing contracts with major equipment manufacturers. As a result, he no longer paid wholesale prices but actually paid less for my HVAC equipment than regional wholesale suppliers bought it for. 

David is the multifamily maintenance professional who has seen almost everything in the business and successfully maximized multifamily profit by making daily operations highly efficient.

Connect with David:

David's company 

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