Wednesday, March 5, 2014

Fin 180 Blog Post #1

Informational Interview                                                                 Nathan Bertao

Blog Post #1                                                                                    March 1, 2014

This interview was with Scott Schuil who is a property manager in the Central Valley. Currently Scott manages about 83 single-family units that are spanned out from Madera to Bakersfield.

How did you get started in this field?
·      My father has always had his hand in real estate investing from the time I was young. Once I became old enough and had my own vehicle my dad gave me certain property management responsibilities over the local properties that he owned.

What was your educational background?  
·      I graduated from Immanuel High School in Reedley, CA. After High School I went to college at Azusa Pacific University and graduated with a Bachelor’s degree in Business Administration in 2009.

What are your major responsibilities?  
·      My main responsibility is to make sure that my father’s rental properties are always occupied with tenants. If somebody is moving out it’s my responsibility to have someone lined up to move in right away. If a property is sitting vacant then we are losing money. Other responsibilities include collecting rent money, maintenance that includes: mowing lawns and repairing general things that need to be fixed that I am capable of fixing with my very limited handyman skill set.

What is the most rewarding aspect of your job, least rewarding?  What might you change?  Would you choose this career again?  
·      The most rewarding part of my job is fixing something for a tenant or solving an issue in a short span of time and them feeling like you are just Mr. Handyman. The least rewarding part of the job is dealing with tenant’s pets. Particularly dogs leave a huge mess outside and tear up the house on the inside. I’m considering changing our policy of allowing pets into our properties or requiring a larger deposit because we lose money in my opinion by allowing pets. I would choose this career a hundred times over again. I love being my own boss and not having to report to anyone. There’s nothing like being your own boss in my opinion.

What is a “typical” day like for you?
·      Overall I would say that I never have a typical day. Each day is vastly different from the next and sometimes I don’t know what I’m going to do the next day when I go to bed at night. I’m always busy however and there’s never a dull moment in my day. An example of a typical day starts of with me mowing a few lawns, I prefer to do this in the morning. If a property has a pool I will clean and maintain that too at this time. Then after that I will report to any repair calls that I need to take a look at. If I can’t fix the issue I will set something up for a professional to come take a look at it. Everyday it seems like I’m dealing with a repair, and since my dad has properties from Madera to Bakersfield, some days I waste a lot of time traveling.

What are some common entry-level positions in the field?
·       I said that I graduated I but anyone can be a property manager. It also doesn’t require any certain licenses like being a realtor does. If you don’t have a connection like I do with my father it’s probably recommended and helpful that you have some type of general contractors license to be a property manager. When I hire people to help me out I like to see some experiencing in the construction field to make up for my lack of skills of working with my hands.

What is the best educational preparation for a career in this filed?
·      There’s not a specific class that I can remember taking in High School that has helped prepare me for what I do now. I would say however that High School sports helped prepare me for this job. Playing football our coach required us to wake up early and we were always working hard. Those traits I learned from my football coach were instilled to me and although I work hard it makes it seem easy since I’ve been doing it since High School now.

What have you found to be a major weakness of new hires in this field?
·      I have hired a few different guys on separate occasions to help me manage properties because as I mentioned I have to cover a large span of area. What I’ve learned from these hires is that most guys underestimate how much work actually has to be done. I have a repair or a concern with a tenant every day it seems like that I have to tend to. Most hired workers come into the job thinking they can do this job and have something on the side as well and that simply isn’t true. This job is very time consuming.

What is the future outlook for this career?  What are the areas of potential growth and decline?  
·      The future outlook on this job for me is very stable. All the properties that we own have no intentions of being sold anytime soon therefore my services will be needed as long as they are around. If anything my father is constantly looking for new properties to invest in and add to our collection. Potential growth and goals for my father is to obtain more multifamily units. Potential decline for us would be if it became easy for people to buy their own homes again because then it would be harder to find tenants.

Can you recommend any specific person for me to talk with and may I have permission to use your name?
·      My father is very knowledgeable in almost all aspects in regards to Real estate. Although he is a super busy man he loves educating younger people and loves to answer questions. His name is Michael Schuil and yes, you have the permission to use my name.

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