Expert Blogs

I have been to several real estate conferences this year and the common theme is optimism.  There is more capital in the marketplace today than since 2007.  Many investors are trying desperately to get their money into real estate.  Many lenders have increased their allocations for 2013 and are looking to lend on quality real estate projects. So who is lending in 2013?  First, Fannie Mae and Freddie Mac were directed to cut back their...

In property management "stuff happens".  Being in emergency mode all the time is an unsustainable posture. And while emergencies happen... that's no reason to be caught off guard. There is just no physical method to run at full tilt all the time without losing focus and having productivity drop off. Preparedness gives us that breathing room to respond at a pace commensurate with the issue. As an example, consider manufacturing businesses...

Can a person’s behavior and values really determine if they will be a future SuperStar for your property management company?  If you knew the formula for hiring SuperStars and could cut your recruiting costs in half, would you start today?  This article outlines three simple but critical steps for adding structure to your hiring process and raising your level of success. Strengthening the interview process:  Prepare a consistent...

What does oil have to do with multifamily? It (oil) affects housing choice. People, particularly renters, will relocate closer to job centers as the costs of commuting rises. The cost of oil also impacts rents and rent growth.  As the price of oil rises and people move closer to job centers the multifamily stock near job centers rises based on increased demand while apartments further away from job centers must reduce rents in an attempt to remain...

Going "low tech" in business?  What a concept!  In an era where  "apps"  response times are measured in Nano-seconds what chance does a low tech gadget have in this environment to promote your business? In an average day how many emails, text and tweets do you review before getting  out of bed in the morning?  Don't say you're not checking.  If not  its only because your significant other...

This mantra has been around for years.  I will always remember it being applied to the printing business.  It's a real pickle, isn't it?  You are wanting some high quality business cards to represent your business.  You need them now and at a good price.  What is the probability of getting quality, speed and price all on the same day?  Pretty low.  So how do you select the two? In multifamily acquisitions once a...

Why would an owner or property manager suggest creating vacancy?  Strategic vacancy is always planned and has a purpose.  Usually, that purpose is increasing rents, but it could be to retain customers in a tough market where absorption is slow. As you know, rent is not always about price; we provide a service and our customers are looking for a comfortable place, a peaceable place to reside and security.  If everyone in your market is at the...

What is a Poverty Trap?  Is there a solution to generational subsidized housing?  Is subsidized housing passed down from one generation to the next?  Does our society assist in perpetuating the poverty trap? A poverty trap is "any self-reinforcing mechanism which causes poverty to persist."[1] If it persists from generation to generation, the trap begins to reinforce itself if steps are not taken to break the cycle....

Over the last several years we have heard whispers that once the housing recover began there was a extra bullet in the gun of the recession; a huge number of bank owned foreclosed homes.  The premise being that on the very day that home prices considered increasing this hidden  inventory will dump onto the market, thus tampering any recovery in home prices.   Its great storyline, but untrue. The recession generated almost seven million...

What was the one continuous mistake  that Mr. Coyote made time and time again?  For  one, getting all caught up in his own " super genius".  Second, losing site of the goal of catching the bird.  Mr. Coyote was so involved in the creation of his ever-more-complicated "bird trap" that the objective was all too often left to last bringing with it his own demise.  How do we make sure not to get ahead of ourselves...

Submarkets are boundaries that define where a property competes.  Having specialized knowledge at the sub-market level is a significant strategic advantage over your competitors.  What defines a sub-market is:     An area with similar properties in terms of physical stock and rents     An area that reflects patterns of locational preference     Transportation patterns, natural barriers...

News is coming in from all directions that the construction economy is picking up. The New York Times just ran a piece about the US Homebuilding market’s surprising positive trajectory, and this lines up nicely by a recent report that Lennar Homes is planning 140 new homes in Clark County and February 2013 saw the largest gain in construction jobs in over six years. With all of this good news you may be curious about the fatalistic title to this...