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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.
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.
This week I was fortunate enough to have my very first closing on cabin that I got to show to a client of mine a couple of weeks ago. It was very interesting to see how the procedure works. Everything ran quickly and smoothly, and am hoping that all future closing go as well as this one did. The rest of my week was spent setting up much of my marketing material!
One of the main duties I fulfill as a Weidner Apartment Homes Intern is showing our available apartments to prospective residents. As my community is typically over 98% occupied we are experiencing a number of lease expirations and notices during this time of the year due to our residents purchasing houses. This has been a great opportunity to schedule showings and get new residents living at Swan Creek. This past week I even made the leasing superstar list put out by corporate with 3 leases!!!! I am super proud of myself! From the initial phone call to personal showing, I love being able to share why Swan Creek Apartments should be their next home.
The second week was an exciting one as I received my first lead and client. Someone in my sphere contacted me and had interest in a cabin on a small resort in Wisconsin. With the help of my Team, we set up a showing to see the listing with the client.
After seeing the cabin, the buyer decided to put an offer in on the property and it was accepted by the seller. It was great to see how all of the legal paperwork is completed and how communication is done between the parties.
My first week in Real Estate consisted of submitting my exam results, fees, and education proof to become a licensed Real Estate Agent in Wisconsin. After this process was over, Coldwell Banker – Burnet hired me as a Sales Agent. My next step was to get signed up for the Board of Realtors, and sign up for course work that will allow me to receive my MN license.
Coldwell helped set me up with my marketing, site, and email logins. The rest of my week was spent gathering contacts for my “sphere.”
This week I am spending some time getting to know the competitors in the area. Swan Creek Apartments is located in a growing new development area of Fitchburg, Wisconsin. We have several competitors in our area in which I was able to secret shop. It is important to understand your competitors and what they have to offer for potential residents. I looked at studio and one bedroom apartments at Waldorf Astoria, the Addison, Elan, Riva, and Prima! All of the properties were beautiful as most are new developments.
For the start of my second week at my internship I have been moving along quickly through my appraisal project. I have about 400 loans to get through that should last for the entire summer. I decided to try and automate some of the processes that go along with the project. So far in a week I have finished about 1/4 of the project using a couple simple formulas through excel. It is nice to see the project coming along nicely and I think I am going to begin to ask for additional projects to work on!
I am now one month into my internship experience with Weidner Property Management in Fitchburg, Wisconsin. I am located at the beautiful Swan Creek Apartments which is 151 units. I have loved every minute of my experiences I have had with Weidner. I started my 12-week experience May 13th. My favorite part so far has been the “Pickle” which is gifts or cards for residents celebrating something special. We have given flowers for weddings, gift-cards for graduations, and cupcakes for birthdays. I cannot wait to continue to share my experiences throughout the next 8 weeks at Swan Creek. For those who know me, my favorite shoes are my Crocs. I had to trade them in for my business professional heels the next 12-weeks 🙂
This summer CUNA Mutual took on 75 new interns! With the exception of a few of us most of these interns have traveled from as far away as Texas to participate in the program. As such CUNA has put together a pretty extensive list of events that will be happening throughout the summer. For example, last night my unit went out to a local Madison golf course and had happy hour out on the driving range, TopGolf Style. It was a lot of fun and great to get to interact with the entire team. Tonight there is an event just for the interns at the apartments where most of the other interns are staying. There will be food and drinks and we will all get the chance to network with one another. Should be a pretty good time!
This week I started my internship at CUNA Mutual Group in MEMBERS Capital Advisors in Madison, WI. During the course of my internship I will be reviewing the entire portfolio of commercial mortgages and analyzing the health of the portfolio. Currently there are approximately 450 mortgages for me to look into and provide an evaluation of. The total value of these mortgages comes to about $3B so this is going to definitely be a project that takes all summer! This internship is very different from the previous two internships that I have completed at Weidner, and Oaks Properties but the change has so far been a good one and I am excited to learn more about real estate finance this summer.
This is another example of the awesome artwork that the Mandel Group has furnished the North End with. This was done by a local Milwaukee artist and it’s made entirely from sawed logs. This is located right in the lobby next to the package room and elevators. This is something that residents see every day. I love the naturalistic look they’ve given the building and residents love the artistic touch Mandel gives their buildings. Incredible art!
This is a new innovative transportation system that was installed in the Milwaukee area. It is great for people looking to rent a bike to drive from place to place. They are almost always available and require $3-$6 for a 30min-hour ride. It is perfect for anyone looking to get from point A – B or looking to enjoy an afternoon ride. They can be rented from one location and dropped off at any other available location. Our particular station is located right outside our Aperture building which makes it easily accessible for residents.
My sister visited this past week and brought some Wisconsin cheese curds. My coworkers had never tried Wisconsin cheese before so we utilized the club house and fried up some cheese curds. We even shared some with a couple residents and prospects!