How To Manage The Cash In Your Multifamily Business

Jake and Gino Multifamily Investing Entrepreneurs

Jake & Gino

Buyingapartmentbuildings, Investingsmart, Multifamilyrealestateinvesting, Business, Smartinvesting, Jakeandgino, Apartmentinvesting, Investing, Commercialrealestateinvesting, Makingmoney, Buyingrealestate, Realestateinvestment, Wheelbarrowprofits, Realestateinvesting, Cashflow

5 • 831 Ratings

🗓️ 12 September 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you're looking for tips on how to manage the cash in your multifamily business, this video is a must-watch. From understanding your financials to establishing a budget, Jake and Gino share their best advice on how to keep your finances in check. So hit play and get started on keeping your multifamily business financially healthy! Want to change your life? Attend Jake & Gino's flagship annual conference with 1,000+ like-minded individuals, entrepreneurs and investors! Learn more: https://jakeandgino.com/mm5 About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Subscribe to this channel: https://ytube.io/3McA Sign up for free training: https://jakeandgino.mykajabi.com/freetraining The resources you need to succeed at every level of apartment investing: https://jakeandgino.com/resources/ Apply for Mentorship: https://jakeandgino.com/apply/ #realestate #multifamilyrealestate #multifamilyinvesting #investing #apartmentinvesting Jake & Gino Facebook: https://www.facebook.com/jakeandgino/ Jake & Gino Twitter: https://twitter.com/JakeandGino Jake & Gino Linkedin: https://www.linkedin.com/company/jake-and-gino-llc/ Jake & Gino Instagram: https://www.instagram.com/jakeandgino/ More ways to engage with the Jake & Gino Investor Community: MM5: https://jakeandgino.com/mm5/ Rand Cares: https://jakeandgino.com/randcares/ The 100 Year Real Estate Investor: https://www.dualassetstrategy.com

Transcript

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0:00.0	All right, Gino, you hear these guys out there saying cash is trash.
0:03.8	Is that the case?
0:05.3	Jake, cash is king, my friend.
0:09.1	All right, more to come.
0:39.5	Yeah. February, Jake and Gino here, and today we are discussing how to manage the cash.
0:45.9	Gang, we started out in 2011. We didn't have a blueprint for managing the cash. But at that time,
0:52.6	the cash was all that mattered. We either had the cash or we didn't. And we really didn't care much about our software accounting or our accrual
0:56.0	numbers. Again, the cash was there or it wasn't. So we built our businesses around managing the
1:03.9	cash, not the accrual accounting or the property management software. And we're very pleased we
1:09.3	started out this way. Our biggest KPI,
1:11.8	our biggest key performance indicator is PPU. What does that stand for? Profit per unit.
1:18.6	This is simply calculated by dividing the monthly profit by the number of units and the
1:24.6	properties. Let me give you an example. Your property had a monthly cash draw, monthly profit of 20,000, and has 100 units.
1:34.1	Your PPU in this example would be $200 profit per unit for that month.
1:42.3	Gang, it's a cash business, all right?
1:45.4	I'm just kidding.
1:46.3	But ultimately, we got the G daddy here.
1:48.3	He's going to take a deeper dive into how we manage the cash and why it's so important.
1:54.5	So Gino, Cashmaster, enlighten us here.
1:57.0	Before I do that, I want to take everyone, especially you down memory lane. And we're talking
2:02.3	when I'm at the restaurant, you know, picture and imagine, 1995, 2000, 2005. I live in the cash
2:09.0	world. And cash is very hard to deal with because it's something where if you're not diligent and
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