Expert Blogs

An FTE is a "full-time employee" or full-time "equivalent" employee.  When reviewing job creation we want to know the total number of FTE's that an employer is bringing into a community. Where things often get fuzzy is in the definition of FTE. An a-typical example is when an employer and community announces: 300 new jobs!  Well...this could represent 300 part-time jobs that equates to only 75 full-time equivalent jobs....

Perfect leverage means different things to different people. The best financial  leverage to place on an asset is financing that promotes an alignment between the objectives of ownership and the financial needs of the asset. Remember that property assets do not have feelings; but people do.  Unfortunately, too many investors allow their "feelings" to affect financial decisions. I am a firm believer in bringing in high quality expertise...

Double your personal productivity in 30 days?  Is it possible?  Absolutely!  This article will provide three important steps for making the best investment you have ever made…an investment in you!  Why is this critical?  Because a small investment made today will yield huge dividends for you in the future.  As a business coach since 1995, increased productivity is a popular topic with my property management clients. ...

The year 2013 could be the first year on record when the U.S. inflation rate is registered at zero. The closest we have come to the goose egg in recent times was 2009 when the official inflation rate was 0.1%.  According to U.S. Inflation Calculator, since 2010 inflation has ranged from 1.2% - 3.0%.  The year end number will likely fall within this range. There are five basic ways to make money in real estate; one way is with appreciation. Read...

Where did you grow up? Urban or rural there is a place (or places) that make you think of home.  What are they and what do they represent?  Collectively, they are more than just single address. There is home, of course, and places that represent a combination of the corner store, your favorite burger joint, the place where you always buy socks; your church, school and dentist.  Maybe its a park or favorite walking trail.  All of these...

Of course you know your revenue sources- rents and other income, or ancillary income.  But what's the next level of analysis?  Is each source being maximized?  Does your stated lease rent match collections on the rent roll?  How many ancillary income sources do you presently utilize? What can you add? On an asset-by-asset basis do you know year-over-year and quarter-over-quarter rent growth and revenue growth? Naturally we focus on...

The property management profession continues to be more complex and rapid planning seems to be a daily requirement.  When faced with a large project, when pressured to reach tall goals or even when you are trying to fix a reoccurring problem…Mind Mapping is the perfect tool.  In this article, you will learn the three steps for creating a clear and well-organized front-end approach to resolving your most challenging problems or developing your...

This post is a departure in that these "deal questions" I am asking you to consider have little to do with the nuts and bolts of buying a multifamily asset; they are specific to your long-term strategic thinking about your purchase.  We all know that anyone can buy a deal; it's what you do with it that makes or breaks the transaction. Best practices in acquisitions requires a plan of action pre-closing (of course).  Answer the...

You’ve hired a property management SuperStar and the classroom training for your new employee is finished.  As their manager, is training really complete?  Not a chance!  Field coaching is the next step and the most important part of a well-rounded and world-class property management training system.  In this article you will learn the three steps for building a powerful field coaching program and once in place, this process will...

Psychologist have had some time to  study the attributes of multitasking only to determine that in many instances the  potential gains are overshadowed by a lack actual productivity.  I submit that multitasking has limited value in our business as compared to  delegation.  In too many instances these two management tools are confused with multitasking gaining credit when delegation is the real productivity engine. A professional...

You may have heard there is plenty of money in the market for real estate acquisitions. Of course, like any other urban legend the facts are a difficult thing to come by as the lens becomes more focused. Like politics real estate is local. So, local to New York City there is a significant amount of money and property assets moving around. The same is true for most job center cities.  Yet as we begin to delineate at the transaction level the size and...

A rent roll, correctly assembled, is a distinctive document providing you with an array of information. When buying a rental property you are in essence buying the rent roll and the monthly income that comes with it. Why is it important to establish the amount of monthly income from the rent roll? Because this is the contractual re–occurring revenue established from existing, in–force leases. The rent roll is a snapshot of current income as...

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