I help multifamily real estate operators get perfect books with zero internal effort | Accounting and bookkeeping | Handle $750MM+ in annual transactions
Would you pay $10,000 for someone just to tighten a screw? Maybe you’ve heard this story before: A major factory’s production line came to a halt. The factory was losing thousands of dollars an hour. They tried every fix. Nothing worked. So the manager called in an outside engineer. The engineer showed up with just a small toolkit. He walked around the machine, listened closely, and plunged his hand into his bag. He took out a single screwdriver. The engineer got on his knees, snaked the screwdriver through an opening, and tightened one screw. The machine roared back to life. “Incredible,” the factor manager said. “What do I owe you?” The engineer handed over an invoice for $10,000. “$10,000?? You only worked for a few minutes. How can you charge $10,000??” The engineer smiled. “The cost of tightening the screw: $1. The cost of knowing which screw to tighten: $9,999.” – I think about this story often in my business. Not from a cost perspective, but from an efficiency perspective. In multifamily accounting, the average accountant handles 8-13 properties. At REPAG, each of our accountants manages 40-70 properties. And even though this is a competitive advantage for us, I hesitate to share it publicly. “Why would we want to work with someone who has more properties per accountant?” And I think about the $10,000 engineer. We’re able to be much more efficient than the industry average due to our: -> Expertise. -> Processes. -> Technology. -> Multifamily specialization. And in the end, that means you save thousands of hours with your bookkeeping. To be clear, we’re doing a lot more with your portfolio than tightening a single screw. But knowing which screws to tighten means we can be ~5x more efficient than the industry average. And that’s something I’m proud of. -- P.S. We help multifamily operators with 1,500+ units get pinpoint-accurate books with zero internal effort. Schedule a 15-minute exploratory call here: https://lnkd.in/eib7-JrV
Gib Irons
2mo
Efficiency doesn’t just come from doing more, it comes from knowing exactly what to do.
Bill H.
2mo
Knowledge is power
Anthony Carlton
2mo
It’s not just about the time spent, it’s about knowing exactly where to make an impact.
Drew Breneman
2mo
I love that analogy, It’s all about knowing where to focus for the biggest impact.
Colin Behring
2mo
Love it, that efficiency is such a huge win for clients.
Spot on, true value comes from knowing what actually needs fixing.
Elijah Iung
2mo
Expertise makes all the difference.
Sam Longbotham
2mo
Makes sense! I've seen firsthand how the right team can make a huge difference in managing a real estate portfolio.
Yoni Liani CPA expertise is where the money is!
Leadership is more than just giving orders.
2moKnowledge is the key. In my past job, I was a buyer and was very conscious of my inventory levels. When my boss showed me a financial report that he was going to give his boss. I said Your numbers are off. He said How to you know? I know my inventory because I checked the numbers everyday. It's not the big numbers that can cause a business to fail. It's the small ones that drop through the cracks while no one is looking. It could be something as simple as a computer transfer from one location to another where the number of one single item was multiplied wrong. That .15 cent item could turn into a $234,000 mistake. If not caught in time, it can be buried in the paperwork and overlooked. Stranger things have happened. That is why you pay for the knowledge. Sadly not all the ones with the knowledge get $10,000 when they find the screwup. They only get the feeling of satisfaction of finding the mistake in time. 😊