Mike Brewer
About Mike Brewer
My mission is to tease out the human potential in the multifamily space.
Smart Expense Management: The Multifamily Untapped Goldmine
Multifamily types often overlook the most crucial aspect of value creation: operational efficiency. We can’t do it through rent growth alone—every penny saved directly boosts your bottom line. The fastest way to increase NOI is smart expense management.
Renegotiate every contract—ongoing. Never leave this to chance; it will get overlooked! Make sure someone on your team OWNS this responsibility. And make it a standing bullet point in your Monday Morning Meeting (3M).
Unchecked service providers equals fee creep.
Maximize energy efficiency; utility bills are eating away at profits.
And here’s the hard truth: down unit vacancy is the silent killer.
Someone must OWN down units.
Mandate: No cannables. Don’t cherry-pick the down units for parts, pieces, and whole appliance changeouts. Once more, for good measure – DON’T Cannabalize Down Units.
But rent growth still matters. Every unit is unique. Price as such!
Finally, the real secret weapon is resident retention. Stop bleeding money on turnovers. Create a personalized resident experience in which they are emotionally invested. Near-instant responses to maintenance, flexible lease terms, and minor upgrades go a long way. So does using a resident’s name, asking about their pet(s), family, work, life, etc. So does dropping a random act of kindness on them.
“Cutting costs without cutting corners is the most underutilized path to profitability in multifamily.” —Mike Brewer
If you’re not laser-focused on expense management, you’re leaving money on the table. It’s time to challenge the status quo and make every dollar count.
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Busy vs. Productive: Understanding the Difference
I think it’s easy to confuse being busy with being productive.
In my head, productivity is about effectiveness.
It’s not an aimless activity.
“Busy is a state of motion; productive is a state of purpose.” – Mike Brewer
As a quick exercise, take a minute to reflect on the tasks on your to-do list. Do they align with your goals and values?
To be pithy, do you have stated goals? Do you have clearly defined values?
If not, it might be time to set clear objectives.
A roadmap helps you focus on the stuff and things you want to accomplish.
Use tools like time blocking or the Pomodoro technique to enhance focus and efficiency.
Schedule intentional check-ins to gauge your progress; are your actions leading to your desired outcomes?
Avoid multitasking; it’s a productivity killer.
Remember, quality over quantity matters; a few impactful tasks yield more remarkable results than a long to-do list.
Cultivating productivity requires intentionality—focus on results, not just busyness.
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Money Isn’t About Money: It’s About Emotional Value, Not Economics
Try this on for size: Money is strictly a numbers game. Of course, it isn’t. For residents and team members, money is a proxy for emotional value. It’s about security, status, and trust. I sense too many C-suite executives focus solely on total income or payroll expenses without understanding the psychological currency.
Want to retain your best residents? Stop treating them as rent checks and start recognizing the emotional value they place on your community. People pay for what makes them feel secure and appreciated. The same goes for team members. Competitive wages are important, but creating and nurturing a workplace culture that values emotional well-being is priceless.
If you measure success only through income statements and balance sheets, you’re blowing the opportunities to build loyalty—both from your residents and your teams. The emotional value far outweighs the dollar signs when creating loyalty.
“Money is a trust-building tool. If you’re not using it to create emotional value, you’re wasting it.” — Mike Brewer
Shift your focus from purely economic decisions to ones that increase emotional investment. After all, loyalty doesn’t have a price tag, but it sure can drive higher returns.
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What Are We Capable Of? The Power of Collective Potential
You are capable of amazing things.
The better question is, what are we capable of together?
Individual strength is powerful.
Know you are capable of more than you give yourself credit for.
More than your mind thinks you are.
But collective power changes the game.
When three or more gather…
“Lone wolves survive. Packs thrive.” – Mike Brewer
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Business Is Only Worth Doing If It Enriches Lives
“Business has to give people enriching, rewarding lives, or it’s simply not worth doing.” – Richard Branson.
Branson hit the nail on the head.
A business that doesn’t enrich lives will eventually die on the vine.
If people feel valued, they’ll go the extra mile.
Chase impact over income.
True business success is measured by the lives you improve, not just the money you make.
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