Welcome, ladies, to the Real Estate InvestHER Show! In this episode, we are being blessed with strategies for reducing expenses in multifamily with the great Tiffany Mittal. Tiffany became a successful businesswoman early on. She owned a beauty spa at 22 and started an import business at 25. After the 2008 recession, she shifted to real estate technology, excelling in the industry for 13+ years. Tiffany led growth in startups, launched her own company, and secured a deal with 10X Incubator. She holds a Masters in Global Leadership and completed programs at Harvard Business School.
 
In this episode, we will be discussing strategies for reducing utility costs and increasing property valuation when refinancing. Tiffany explains why it's important to charge tenants for utilities in order to encourage conservation and modify their behavior, as well as how the use of a RUBS Calculator can help small investors get access to the same resources that big guys have been doing for years. She also shares how they created Utility Ranger; a software that helps investors manage their utility billing.
 
Quotes
 

“Be sure to trust your instincts. So many times, I didn't listen to that gut feeling and things didn't turn out the way I wanted. But when I finally did, the success I had from just putting faith in myself was enormous.” (02:10 – 02:38)

“Always check lease language. Many leases simply state 'utilities included,' but there are areas where services have skyrocketed. Unbundling services can help to adapt to price-conscious customers.” (12:40 – 14:19)

“It's not simply about billing your tenants. It’s about establishing a means to expand your portfolio. Every opportunity to boost your NOI is an opportunity for growth.” (21:22 – 21:38)

 
Connect with Tiffany:
Website: Utility Ranger
LinkedIn: Tiffany Mittal
Instagram: @tiffanymittal
 
Resources Mentioned:
 
·      The 10X Rule by Grant Cardone
 
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