Wisconsin

August 5th, 2019 by Pat Lytle

This week CUNA Mutual had its yearly case study competition, The Herring Cup. This year our prompt was concerning reaching more of our members and potential customers digitally. I am happy that my fellow intern and UW – Stout student Andy Mitchell took home the trophy for Stout. My idea for the case study focused on integrating CUNA’s insurance products into our member credit union apps while Andy’s idea implemented a system called Vitality into our members insurance policies. This system tracks fitness levels of each of members and as such will provide a discount based on how active they are. The implementation period for this would be around 4 months and it would generate around $2.5M/mo. in new revenues for CUNA Mutual based off the various fee’s and agreements that Vitality would pay to CUNA for access to our members. Overall it was really fun to be challenged in a way that was outside of the sphere of Real Estate and Mortgages for a change and to see what the other interns came up with.

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August 1st, 2019 by samuel schoenborn

This week I had my very first listing appointment. Someone was referred to me from another person in my sphere. They’re looking to potentially sell their home and they want to find the right realtor for the job. So this appointment was essentially an interview and a great chance for me to see the property. The next time I meet with them, I’ll be presenting all that my services offer and a potential price opinion on her property. I hope I get to list their home!

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July 29th, 2019 by Pat Lytle

This past week I was able to start working on evaluating new deals with the help of one of our full time analysts. The process starts when a Mortgage Broker sends us a submission packet that contains all the important information on the property. Some examples of the include information would be a summary of the property, the mortgage brokers underwriting, photos of the property, property financials, proformas, a copy of previous years rent rolls, and depending on the property a copy of anonymous personal financial statements. This is probably my favorite part of my internship up until this point because I am getting to see what goes into evaluating a deal in depth. It is also interesting to see the methodology that goes into determining how much we could realistically loan to someone without taking to much risk. Generally that means staying below 70% LTV and around 9%-12% Debt Yield which makes finding good deals a little harder but that also means when we do find something it is going to be on the safer side investment wise.

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July 24th, 2019 by Addie Kubitz

Welcome Home to Weidner! Throughout my internship I have been showing/leasing apartments. It is also important after receiving the lease signatures to follow up with a Welcome Home letter to confirm what needs to be done prior to picking up their apartment keys. Big points that are included in the welcome home letter include setting up utilities (gas and electric), renters insurance, and balance due. Another item prior to move-in is completing the move-in check list with any prior damages and placing a move-in gift in their apartment. 🙂 I love the check lists Weidner has in place to ensure a smooth move-in process for every new resident calling Swan Creek home!

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July 21st, 2019 by Collin Rice

Every Day I got to work around this beautiful lake named lake Walter. The lake is full  of wild life and has incredible views. When ever work started to get hot and hard it was so nice to take a quick second to relax and look at the lake.

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July 16th, 2019 by Addie Kubitz

Throughout my internship, I have spent time coding all of our bills and sending them to the corporate office in Seattle, Washington. This is actually one of my favorite things to do in the office. I love to code the bills into specific accounts and compare them to our budget for the month. It is very interesting to learn how much we spend in expenses compared to our revenue.

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July 16th, 2019 by Pat Lytle

This week I have been working more with my main project for the summer. The part of the project that we have entered now is the final valuation/data entry stage. At my job we use a program called PAM for Mortgages by State Street. It is a really interesting tool because it allows us to have all of the information on our individual loans in one place as well as Collateral Information on each of the loans. Right now I am using the valuation reports that I prepared earlier this summer, along with the rent rolls for each property, to come to a final value for each property. I have gotten through about 30% of the files already so I should be able to finish before mid-august when my co-op ends. This has been a very interesting project and I am happy that I have gotten this exposure to the investment side of real estate.

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July 14th, 2019 by Collin Rice

We brought in fill and a slab of concrete to make the site level for the new home. when the new home came we had to finish putting the home together because the home is double wide.

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July 11th, 2019 by samuel schoenborn

This week my license from the state of Minnesota was finalized and I am now a licensed realtor in both states! This was crucial for me as my office is located near the St. Croix River. Often times, agents work with buyers and sellers in both states. Knowing the laws that differentiate between the two is also very important. I plan to advertise myself with this achievement and hope that it separates me from the realtors in this area who are not licensed in both states, making my business more attractive to clients.

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July 8th, 2019 by Pat Lytle

At CUNA Mutual Group they believe in working from home if life gets busy. With this last week being the Fourth of July and with most of my coworkers being out of town myself and another Analyst, Dan, decided at 11am that we were going to go home for the day and work remotely. It was honestly so cool that they not only trusted me to work from home but also that they were open to allowing an intern to do this. I think that it shows a lot about this company that they trust their employees to do there work and also allow us to take ownership over our duties. I spent the rest of my day working on my project in Excel, underwriting a new possible deal with the help of Dan, and some other various duties.

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July 7th, 2019 by Collin Rice

This week I learned how to process  the rent for Lake Shore Landing. I learned a lot working with real numbers and seeing  how the entire process works. Its cool to see all the numbers come together and add up.

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July 6th, 2019 by Marco Arambula

Excited to have the opportunity to learn how make the perfect resident file!!

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July 1st, 2019 by Pat Lytle

Part of my duties here at CUNA is completing files that may be incomplete and reaching out to our loan servicers to get any files that we might be missing. Most of the time when I reach out I get a nice person from the company and they send me over the documents right away. Recently though I noticed that one of our servicers hasn’t sent in any of the info they are PAID to collect for the 5 properties that they service. Initially I reached out to my contact on the company and I was informed that I was going to have to be put in contact with someone else at the company. Instantly I knew this was not a good sign because this is a task that almost anyone should have been able to complete. After two days of waiting I finally information on one of the five properties that I had requested. I have now reached out again, in a decidedly less nice manner, requesting the remaining information by the Fourth of July. I have been keeping the analyst on our end updated and he has also indicated that this is a ridiculous occurrence.

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June 30th, 2019 by Collin Rice

I had the task of showing customers new and used manufactured housing units which Lake Shoe Landing has for sale on the property. I became very good at reading people and giving them the facts that they needed about the home.

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June 26th, 2019 by Addie Kubitz

One fun part of my property management internship with Weidner Apartment Homes is spending time planning resident events. The past couple of weeks, my team in the office has been busy getting our summer events planned and executed. I have really enjoyed creating the save the dates and marketing flyers for the elevators. The two resident events we are doing include a Qdoba bar and Madison Mallards baseball game. I cannot wait to see how our residents adore the events.

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June 24th, 2019 by Pat Lytle

For the past few weeks I have been going through our portfolio of loans and completing analysis and Proforma’s on each of the loans. Typically this process takes all summer but I decided to try something new. I created an Excel spreadsheet that mimics the worksheet that we were originally using and inserted formulas into that spreadsheet. It has made the process much faster and I am happy to say that last Friday I finished the first part of the project. This week I have been working with CoStar analytics to update information on CAP rates and Vacancy throughout our portfolio. CoStar sent me a welcome package and I have had training staff from CoStar reach out over the past couple of weeks. I will also be researching more about CMBS, RMBS, and CDX this week and try to shadow with some of our trading room staff to get a better idea of what they do.

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