When acquiring apartments, be skeptical of any and all statistics that are provided to you. That was one piece of advice given to the audience during a educational session titled “From Pro Forma to Performance: How to Make Your New Asset Hum in the First 90 Days.” The session was presented during the National Apartment Association 2013 Education Conference and Exposition held here this week.
Regarding investment sales underwriting, panelists quoted from Alexandra Jackiw, managing director of McKinley: “Assume all data is suspect.” This is not necessarily because there is malice or ill intent, but “owners may have their numbers wrong,” and these errors may be perpetuated over time, said Barbara Savona, CEO of Sprout Marketing.
Read more...SPECIAL REPORT: Key Advice for Underwriting Apartment Properties | Multi-Housing News Online
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