checklist of corporate strategy and values

• Proven Successful and Repeatable Strategy
  
  Buy under managed buildings in decent locations
  (class “C” or “B” building in class “B” area) – some
  with immediate and some with medium-term upside.
  
  Improve property management/change property
  manager so that the property management is
  impeccable.

• 
  Well selected onsite manager/care taker who cares,
  who has sales skills and who is well compensated for
  results (such as low vacancies).
• 
  Improvements from the street to the suite:
  - Improve curb appeal
  - Improve common areas
  - Improve vacant suites (new appliances, carpet,
  lino, curtains, lights, switches, bathrooms,
  kitchens) and of occupied suites (to a somewhat
  lesser degree usually).
• 
  Raise the rents to market or slightly above market
  level, thus increasing the value of the building, as the
  main driver of a building value is the rental income
  stream it can generate.
• 
  Keep, re-finance, sell as one building or (possibly in
  the future, as condos), depending on (co)investor
  exit strategy/preference.
• 
  Aim for positive cash flow and equity growth.
• 
  
• Knowledge Is Wealth
  
  Knowledge through REIN (Real Estate Information
  Network), experience, project management skills, life
  experience, employees/contractors, and other courses.
• Ongoing property management education/courses for
  all employees and senior managers.

Large network of professionals – many inhouse but
also outsourced.

Delegation of what you do not love (and therefore, usually not good at) to professionals (like accounting, rent collection, repairing suites, property management except sales/marketing) and do the stuff you like and are very good at.

 

 

• Ethical, Intelligent, Open-Book Operations
  
  Fair, yet tough, treatment of tenants – sound tenant management principles (“tough love”)... treat your tenants as
  your best asset.
  
  Customer service orientation.

• 
  Ethical / Christian investment philosophy:
  ”tell people what you will do, and do it honestly”
  “walk the talk”
  “by thy fruit you shall recognize them”
  “no unwholesome lifestyle, no slander”
• 
  Thomas Beyer and/or Prestigious Properties executives,
  associates and staff often invests capital with investors to
  increase their comfort level.
• 
  We make the majority of our money only when investors
  make their money, very low base management fees/salaries
  for senior managers that are independent of performance.
• 
  Very low overhead.

• 
  Sound living principles: physically active, no drugs or
  excessive drinking, normal guys/gals with no “weird”
  or expensive hobbies, many with strong faith.
• 
  Win/win investment philosophy.
• 
  Open book investment philosophy – all invoices or expenses are available to investors or mortgage companies.
• 
  No uplifting of asset values going in (how some office
  tower, land and shopping centre syndicate managers
  make money before their investors).

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