In this insightful episode of our podcast, we’re joined by our esteemed guest, Tiffany Mittal, the CEO of UtilityRanger.com. Tiffany sheds light on her unique journey from managing her own sizable real estate portfolio to innovating a groundbreaking solution for utility billing.
Tiffany moved from the sunny coasts of California to Florida, where she brought UtilityRanger.com to life to tackle the complexities of ratio utility billing in her 36-unit property. Her solution presents a dual advantage: it paves the way for substantial increases in net operating income (NOI) by transferring utility costs from owners to residents, and it promotes environmental sustainability by encouraging responsible water usage.
UtilityRanger.com operates on a simple model. For a nominal fee of $3 per unit per month, owners can pass on the utility costs to their residents. They can even increase this fee marginally to raise more revenue that can offset other expenditures, such as property management software.
What sets Tiffany’s solution apart is the significant increase it brings to the NOI. The figures are astounding — adding around $36,000 a year, which equates to an additional million dollars in property value. This financial advantage has opened new doors for Tiffany, enabling her to refinance her properties and undertake new investment ventures.
Join us, your hosts Jake and Gino, as we delve deep into Tiffany’s success story, discussing the immense benefits UtilityRanger.com brings to small apartment owners and property management companies. This episode is a must-watch for those keen on boosting their NOI, improving efficiency, and making a positive contribution to the environment. Tune in now!
00:00 – Intro
01:25 – How Tiffany Mital Started her Business Career
03:20 – What was the Gap that Tiffany Mital’s Company Fill?
05:37 – The Creation of Tiffany Mital’s Company
08:00 – Pushbacks on the product
11:00 – What Pushbacks And Doubts Are Owners Having about the Product?
12:17 – How Will Utility Ranger Expand as a Program
12:45 – Suggested Features
14:09 – Tips From Tiffany on Raising Capital
15:21 – Does the Program Work with Single Family Investors?
16:09 – Where Does Tiffany See the Company Growing?
18:24 – Thoughts on Vertical Integration from Tiffany Mital.
19:26 – Is Tiffany Practicing what She Preaches?
22:36 – Tips For Scaling a Company
23:46 – Book Reccomendations
24:41 – UtilityRanger.com | And Contact Tiffany
25:48 – Gino’s Wrap Up
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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.
Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/
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