Bob Burns’ Neighborhood

Certified Property Manager® (CPM®)

Here I am day two of my five day asset management class in St. Petersburg Florida. It was a hard first morning. I was still recovering from a long weekend of familly fun at Disney, compounded by a lot of driving in the past few days. We kicked it off this morning with property valuations and capitalization rates. The capitalization rate is really the creme-de-la creme metric of measuring a property's value and overall rate of return. Some compare it to the stock markets price to earning ratio.

Basically cap rates are used by property managers and their clients to measure risk in making a variety of real estate investment decisions. The rate represenets the price paid for a given income stream. So if you are buying a brand new retail center with AAA tenants you might expect a cap rate of 6. If you are buying a property that requires you to take an armed escort to collect you rent you are probably going to want a 20.

The basica formula is CAP RATE= Net Operating Income/ Value of the property

Downtown St. Petersburg in an interesting place for sure. The city is beautiful and of course on the water. There are quite a few skyscrapers, but the streets are too quite. No traffic to speak off. I wonder why. Overbuiliding? Seasonal residents?

Its a little bit scary to see a city and buildings this densely put together so void of the hustle and bustle of a big city. I'm happy to enjoy it but even Downtown Gainesville has more going on.

This is my second full week course in a series of three on my to earn my CPM designation. If you missed it, I twittered ad nausem in Orlando back in March. Well trust me you didnt miss much!

Three and a half more days to go. All in all the class is fantastic. There are great colleagues to network with and the information is really powerful.

I already miss my kids though and I know Kim is stressing out being a single working mom of three!

Jack brought home his passover chocolates and goodies catalog already this year. Normally I'd be skeptical about posting something like this, but since Kim and I wanted to eat everything in the catalog I thought I'd give it a push. If this chocloate tastes half as good as it looks!

Hi: My student ID # is 9013985

http://www.misschocolate.com?id=9013985

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Thank you for your support!

Sincerely,

JACK BOSSHARDT and B'NAI ISRAEL RELIGIOUS SC.,GAI
Student ID# 9013985

I never got to send out thank you cards this year due to aggressive cutbacks and of course I planned to thank some of our best vendors before the year was over. So here we are and I'm going to thank Eileen and Professional Carpet Systems. They dont have a local website, and operate on word of mouth. Which is to say their work is so good and their reputation is so strong they don't need a website. Is that even possible. Apparently so. If you want a great carpet cleaner and the best service in Gainesville call Eileen at 495 3982. They say they are experts in spot removal. But for 15 years they have been experts in customer satisfaction!