Expert Blogs

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...

Like art, loans are sometimes critiqued as beautiful, ugly, abstract, well done or amateurish. Unlike in art, we use other words to describe mortgage loans; well secured, in compliance, in technical default, over-leveraged and exceeding disposition value.  But who most uses these words? The mortgagee, the lender. It's true; mortgagee's (lenders) are people too. But most are not real estate people, they are lenders charged with protecting the...

Recent Tenant story... "I'm in the parking lot at the grocery store and a parking spot comes open right in front! I swerve in and, at the very last moment, slam on my breaks. There is a goat tied to a shopping cart right in front of me.  A goat! Right there!  I get out my car and untie the goat and put it in the back seat of my car.  Where do you take a goat in the city?  Anyway, I go in the grocer to get a few thing and I come...

Multifamily's best kept secret is no secret at all; that long-term ownership provides significant financial rewards.  Why do I call this a secret?  Because  so few take advantage of the power of income compounding that is included in the rewards of long-term ownership. In it's simplest version, even if expenses keep pace with rents (rents rise 3%, expenses rise 3% year after year) then still, over time, debt is reduced.  ...

Consider the present interest rate environment as a window knowing there is no such thing as a window that stays open forever.  And, unfortunately but true, sometimes when windows close they slam shut unexpectedly. Financing multifamily holds no special place in the mortgage Eco-system; the same window shuts equally on us also. Are there commercial loan rate sheets in your email box?  Opened them lately?  See any changes?  Like maybe a...

Let's just say you are already over worked, understaffed and touching the limits of a stretched budget with your multifamily assets. As the comedian Ron White opines; "Let's just say".  Now what?  What do I have to add to my already overflowing, brimming  plate?  Hopefully, a few things that will lighten the load by freeing up some dollars and, eventually, staff time. Sustainable Landscaping. Landscaping is an...

Having to manage a difficult employee is never fun and can be the most challenging part of your responsibilities as a property management professional.  While never easy, this article will address a step-by-step way to consistently and confidently handle the most challenging employee situations. In addition, how you handle a difficult employee will send a strong and powerful message to those who still work for your property management...

In the wake of numerous natural disasters over the last decade, it has become sadly obvious that a large majority of the world is not only unprepared for the worst, but remains unconcerned at the possibility of being struck by a natural disaster. Granted it’s understandable most forget when natural disasters hit at random, however, as a major communal threat, it is imperative that your properties have a backup plan available. In aiming for the safety of...

Is it true that to be a good property manager you have to be a little like passion fruit; hard on the outside and soft and sweet on the inside?  Property management (PM) is hard work.  And while "Five Hour Energy" drinks are all well and good, who wants to drink two a day every day? Are we all gerbils on that never-ending wheel?  Granted, there are property's with full time staff devoted to sweeping common areas every...

Seller carry-back financing.  So simple, so eloquent.  So screwed up so often. This article will discuss seller carry-back from the sell side perspective. Most buyers are of the opinion that obtaining a seller carry-back is a good thing.  Most sellers are confused on the matter thus refrain from its’ consideration (as a confused mind always says no- to everything). The current day problem with seller carry-back financing is that most...