Core concepts
Asset register
Track major systems (roof, HVAC, water heater) with install date and remaining life.
Reserve discipline
5–10% of gross rent monthly into dedicated capex account.
Bundling efficiency
Sequence multiple capex events to capture vendor and downtime efficiency.
Examples
- Roof, HVAC, and exterior paint bundled for 30-day project saving 15% vs sequential.
Practical applications
- Buy-and-hold operators.
Common mistakes
- Confusing R&M with capex.
- Underfunding reserves.
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