Introductions
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Your Name
Where You Work
Your Job Responsibilities
How long have you been in the Industry?
Have you ever been asked to research and
suggest solutions for a property problem?
• What are your expectations for this program?
Property Research, Analysis and Evaluation
Today’s Agenda
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Identifying Issues and Problems
Conducting Research
Analysis and Evaluation Techniques
Finding and Supporting Conclusions
Making Persuasive Recommendations
Property Research, Analysis and Evaluation
Overview – Cognitive Abilities
• The process of acquiring
knowledge by the use of
reasoning, intuition or
perception
• Perceiving conditions
around you, analyzing
problems and
recommending solutions
Property Research, Analysis and Evaluation
You Already know How to
Analyze!
Property Research, Analysis and Evaluation
Overview – Business Analysis
• Identifying
Business
Needs
• Determining
Business
Solutions
Property Research, Analysis and Evaluation
You will Get Answers to…….
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What current conditions present problems?
Where do I find relevant information?
How do I separate out meaningful facts?
How do I determine what the facts are
telling me?
• How should my property respond?
Property Research, Analysis and Evaluation
Chapter 1
Identifying Issues and Problems
Property Research, Analysis and Evaluation
Identifying Issues & Problems Topics
• Issue or Problem?
• Typical Rental Housing Issues and
Problems
• Identifying Present Conditions
• Link to the Owner’s Goals and
Strategies
• CLASS ACTIVITY
Property Research, Analysis and Evaluation
Definitions
Problem
Issue
A subject of concern;
the central or most
important topic in a
discussion or debate
A difficulty; a difficult
situation, matter or
person; a question or
puzzle that needs to be
solved
Property Research, Analysis and Evaluation
Industry Examples
• Issue:
New apartment property nearby in lease-up
• Problems: Increased need for visibility; inferior curb
appeal; poorly trained leasing staff; poorly
focused market outreach
• Issue:
Operating expenses exceed budget
• Problems: Poor purchasing strategy; failure to use
company- approved vendors; poor
maintenance skills
Property Research, Analysis and Evaluation
Some Typical Rental Housing Issues
Staff
Need for
Income
Residents
Issues
and
Problems
Physical
Structure
Market
Owner's
Strategy
Property Research, Analysis and Evaluation
Activity #1
Identify potential problems or missed
opportunities for your assigned issue.
Property Research, Analysis and Evaluation
Identify and List Present Conditions
Property Research, Analysis and Evaluation
Examples of “Present Conditions”
• Fantastic Weekly Activity
Levels
• Too much Delinquent
Rent
• Staff is not Energetic and
Engaged
• Shop is messy and parts
inventory is not covering
usage
• The neighborhood is
losing retail
establishments
• Building one has been
damaged by Fire
• Closing ratios are under
10%
• Maintenance follow-up
calls are not made
• Property siding is uneven
and warped
Property Research, Analysis and Evaluation
What are your Owner’s Goals for
the Property?
A specific rate of return
Regular cash flow
Tax benefits
Investment diversification
Quick profit
Increased property value
Improved management
performance
Pride of ownership
Property Research, Analysis and Evaluation
Goals can Change!
Original Goal:
Regular Cash
Flow
Market
conditions shift
and cash flow
diminishes
Property Research, Analysis and Evaluation
Revised Goal:
Quick Profit
Sample Strategies to Achieve
Goals
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Refinancing
Property Improvements
Renovation or Retrofit
Property Conversion
Property Exchange
Property Liquidation
Property Research, Analysis and Evaluation
Example Strategies
Quick
Profit
• Property
Improvement
• Retrofit
Increased • Conversion
Property • Property
Improvement
Value
Property Research, Analysis and Evaluation
Short Term Hold - - - Long Term Flooring??
Property Research, Analysis and Evaluation
Activity #2
Present Conditions & Problems
Property Research, Analysis and Evaluation
Chapter 2
Conducting Research
Property Research, Analysis and Evaluation
Conducting Research - Topics
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Gathering Information
Taking Notes
Multifamily Rental Housing Data
ACTIVITY: DATA GATHERING
Information Overload
Property Research, Analysis and Evaluation
Print Materials
• Libraries are great places to start
• As you read, stay on track by keeping
problem statement handy.
• Quick scan table of contents or index to
save time.
Property Research, Analysis and Evaluation
Interviewing People
• Capture experiences of people who
have had similar problems
• Compose your questions before the
conversation!
• Write or record everything
• Stay on Track
• Follow-up may be necessary
Property Research, Analysis and Evaluation
Using the Internet
• Know your Purpose
• Don’t believe Everything
• Smart Search Tactics
– Key words
– Gateway sources
Property Research, Analysis and Evaluation
Use Company and Property
Documents and Reports!
DON’T FORGET!
Property Research, Analysis and Evaluation
Other Factors to Consider
External
Internal
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Economics
Social Trends
Business Activity
Employment
Roads and Access
Building Codes
Regulations
Technology
New Applications
Products and Services
Reports
Company Best Practices
Competition
Your Own Property
Property Research, Analysis and Evaluation
Tips for Taking Notes
• Use index cards or word processing to sort as
you go
• Always identify the source as you note the
information
• Paraphrase for your purpose
• Using quotes
Property Research, Analysis and Evaluation
Activity #3
• Research Practice
Property Research, Analysis and Evaluation
Information Overload!!
Property Research, Analysis and Evaluation
Looking for Meaningful Material
• Keep your Problems and
Issues with you while
you research
• Keep asking your 4 or 5
questions about the
issue
• Keep notes separated by
the topics in your 4 or 5
questions.
Property Research, Analysis and Evaluation
Wrapping Up Research
• Underline Key Words
• Look for Specific Answers
• Think how Ideas might
Link Together
• Reject Information that is
too Detailed
• Gain Confidence in your
Conclusions!
Property Research, Analysis and Evaluation
Chapter 3
Analysis & Evaluation
Property Research, Analysis and Evaluation
Did your research change your suggestions?
Will your final recommendations change?
NOW ITS TIME TO ANALYZE
Property Research, Analysis and Evaluation
Analysis & Evaluation Topics
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Analysis Defined
Preparing and Using an Outline
Preparing and Using a Concept Map
Trend spotting
Critical Thinking
Property Research, Analysis and Evaluation
Definitions
• ANALYSIS – the process of breaking a
complex topic or substance into smaller
parts to gain a better understanding of it.
• BUSINESS ANALYSIS – the discipline of
identifying business needs and
determining solutions to business
problems.
Property Research, Analysis and Evaluation
Potential Solutions
• Process Improvement
• Organizational Change
• Strategic Planning
• Policy Development
Property Research, Analysis and Evaluation
Multifamily Business Analysis
Present Property
and Company
Conditions
Alignment
with Owner’s
Strategies
Property Research, Analysis and Evaluation
Support of
Suggested
Solutions
Preparing and Using Outlines
Working Outline
Vs.
Final Outline
Property Research, Analysis and Evaluation
Typical Outline Structure
I. Major Component of Issue
A. Smaller Factor of the Component
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2.
3.
Details
Details
Details
B. Another Smaller Factor of the Component
1.
2.
Details
Details
II. Second Major Component of Issue
Property Research, Analysis and Evaluation
New Construction Down the Street
Review Example
Property Research, Analysis and Evaluation
The Final Outline
• Add specifics to details
• Check for evenness – enough detail on
each element, or did you over focus on
one?
• With the right detail, this is almost your
final proposal if you are making it in
writing!
Property Research, Analysis and Evaluation
Sorting Major Topics
• Chronology
• Cause/Effect
• Compare/Contrast
Property Research, Analysis and Evaluation
Concept Maps
Property Research, Analysis and Evaluation
Numbers or Patterns?
Traffic
Drive By 25
Apt Magaz. 11
Website 20
Referral 6
Pref Emp 2
ILS-A 12
ILS-B 12
Billboard 2
Transit Ad 1
Renewal 6
Direct Mail 3
Property Research, Analysis and Evaluation
Concept Maps…..
• Establish Connections between Ideas you
Already Have
• Uncover new Connections
• Organize logically, but not rigid
Property Research, Analysis and Evaluation
Sample Concept Map
New Property in the Neighborhood
Traffic
Our Rents
Sources
Amenities
Curb Appeal
Qualify?
Flags
New Signage
Staff
Loss
Leader
New Bike
Pet Park
Shop
Comps
Training
Outreach
Shops
Closing
Contest
Our Units
Preferred Employers
Property Research, Analysis and Evaluation
Test Upgrades
Activity #4
Outline Or Concept Map?
Property Research, Analysis and Evaluation
TrendSpotting
Property Research, Analysis and Evaluation
Tips from Sonicbids
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2.
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Stop talking and listen
Look beyond your own business
Visit your alma mater
Kill your products before someone else
does
5. Think “yes,” not “no”
Property Research, Analysis and Evaluation
TrendSpotting in Reports
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Repetition
Once is a Charm
Knowledge is Power
External influences
Reporting
All alone
Property Research, Analysis and Evaluation
Critical Thinking
Lots of Data…
What’s important and why?
Property Research, Analysis and Evaluation
Ask Yourself
• Am I too vague?
• Do I have enough facts and figures to
support my plan?
• Have I thought of every roadblock or
hurdle?
• Do I have enough clear examples?
Property Research, Analysis and Evaluation
Critical Evaluation Skills
Use questions to
Clarify Critical Thinking
Property Research, Analysis and Evaluation
Chapter 4
How to Draw Conclusions
Property Research, Analysis and Evaluation
The Fourth Step…..
Problems
and Issues
Conducting
Research
Property Research, Analysis and Evaluation
Analysis &
Evaluation
“Assumption”
“An assumption is a statement that is
presumed to be true without concrete
evidence to support it”
INC Magazine
Property Research, Analysis and Evaluation
Some Typical Assumptions
• This slowdown is temporary – traffic will be back
to normal soon
• This resident loves us, so our decision is safe
• Our residents want “X”
• Our comps can’t beat us at “Y”
• We can’t afford to do “X”
• We tried “X” before and it didn’t work.
Property Research, Analysis and Evaluation
As you draw your conclusions…
Check for practices, results,
stereotypes and history that
you may be assuming has
or will happen!
Property Research, Analysis and Evaluation
Activity #5
Identify typical assumptions for each category
Property Research, Analysis and Evaluation
The Role of Logic
Are you relying on:
•Evidence?
•Facts?
•Observation?
•Inference?
Property Research, Analysis and Evaluation
Three Parts to a Conclusion
• Introduction
• Body
• Recap
Property Research, Analysis and Evaluation
Writing Effective Conclusions
• So What?
• Circle Back
• Synthesize
• Action?
• Broaden
Property Research, Analysis and Evaluation
Conclusions
Never – Ever
• Overused Phrases
• 1st Time for
Proposal
• New Idea
• New Evidence
Property Research, Analysis and Evaluation
Chapter 5
Writing Effective Recommendations
Property Research, Analysis and Evaluation
Effective Recommendation
Topics
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Recommendations or Conclusions?
Using Debate Skills in Recommendations
Tips for Writing Recommendation
ACTIVITY: Writing Recommendations
Property Research, Analysis and Evaluation
Research, Analysis
& Evaluation
Conclusions
Recommendations
Property Research, Analysis and Evaluation
Solutions
Our Example:
Conclusion:
Inadequate service
levels are costing
occupancy, income
and loyalty
Recommendation:
begin new
personalized service
program; conduct
focus groups
Property Research, Analysis and Evaluation
Solution! Customer
retention goes up,
occupancy improves
Consider Who your Audience is!
Property Research, Analysis and Evaluation
What do I want my Audience to get?
Property Research, Analysis and Evaluation
Wear the Stakeholder’s Shoes
Property Research, Analysis and Evaluation
Personal
Move-In
Visit?
Property Research, Analysis and Evaluation
Using Debate Skills to Sell
Recommendations
Property Research, Analysis and Evaluation
Debate Skills
Persuasive Verbal
Arguments
Confidence and Clarity
Property Research, Analysis and Evaluation
Debate Skills
Use Big Picture Perspective
Counter Opposing Arguments
Property Research, Analysis and Evaluation
Debate Skills
Logical & Analytic Thinking
Time Management Skills
Property Research, Analysis and Evaluation
Debate Skills
Research Skills
Reading the Audience
Property Research, Analysis and Evaluation
An Equal Balance
Research and
Organize Evidence
Make
Recommendations
Property Research, Analysis and Evaluation
Successful
Presentation
Not Accepted???
Property Research, Analysis and Evaluation
Your Recommendation Checklist
• Restate the Problem(s)
• Don’t Assume they think you have the
Answer!
• Double-check your research
• Prove your Conclusion(s)
• Financially Feasible
• Look and Sound Professional
Property Research, Analysis and Evaluation
The Multifamily Professional
YOU!
Property Research, Analysis and Evaluation
Activity #6
Writing Recommendations
Property Research, Analysis and Evaluation
Chapter 6
Research, Analysis and Evaluation
Workshop
Property Research, Analysis and Evaluation
Workshop Instructions
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Work in small groups
Select a scenario
Complete the Answer Sheet
Present your final Recommendations to
the Class
Property Research, Analysis and Evaluation
Thank You!
Begin to use Your
Cognitive Skills
TODAY!
Property Research, Analysis and Evaluation