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Starting a Property Management Company: Getting Your Finances in Order

Member price:

$59.00

Your price:

$ 99.00

11/5/2020

11 am PT / 12 pm MT / 1 pm CT / 2 pm ET
*approximate length: 45 minutes to 1 hour

Presenter: Tiffany J. Stowers, CPM®, CCIM

We’ve all heard the saying, “The cobbler’s son has no shoes” or “The landscaper’s yard is the worse in the neighborhood”; similarly, as experienced property managers many of us know how to put together a multi-million dollar budget for a property but struggle to prepare a budget for our own personal expenses. This webinar will discuss the importance of putting a personal budget in place (and getting your own personal finances in ship-shape) before starting your own business. Additionally, we will discuss how to prepare a budget for your company so that before you accept your first phone call or have your first client, you have an idea of what it will cost to run that business before you leave the gate!

Attendees will learn:

  • Why it is so important to get your finances in order before you launch! (Especially, if you do not have partners/investors)
  • How to prepare a budget for your personal finances and why it is imperative you get your debt paid off (excluding mortgage and student loans) before you launch
  • How to prepare a budget for your company when you do not know what income you will have from clients or what expenses to plan for because you’ve never had a business before

Tiffany Jackson During her career, Tiffany has managed Class A/B high-rise office buildings, Medical Office Buildings, Retail Centers, Industrial Buildings, and Commercial Owner’s Associations. Over the years, she has managed properties from 5,000 square feet to over 300,000 square feet.  You may recognize her by her maiden name, Tiffany L. Jackson. Tiffany now resides in North Carolina and commutes regularly back to Colorado to meet with clients and check on her employees and properties there.

As a graduate of the University of Oklahoma, Tiffany holds a Bachelor of Arts in Administrative Leadership. She holds both an Employing Broker’s License and a Community Association Manager License from the State of Colorado as well as a Broker In Charge License in the State of North Carolina. She earned her CPM® designation from the Institute of Real Estate Management (IREM) in 2009.  Additionally, in early 2019, Tiffany set the lofty goal to take all four classes, and sit for (and pass) the exam, to achieve her CCIM® designation through the CCIM Institute; she achieved that goal and was pinned at the conference in San Diego in October 2019.  Before moving to North Carolina recently, Tiffany served five years on the Board for the “Greater Denver” Chapter of IREM, ultimately serving as the Chapter President in 2013. She also served as the Legislative Chair for her Chapter for 4 years, on the National Legislative & Public Policy Committee for IREM for 8 years, and as the Ethics Facilitator for IREM for the State of Colorado for 4 years.

Tiffany is the President & CEO of Compass Management, LLC, a commercial property management company, which she launched in Colorado, in April 2014. Her company’s current portfolio includes just under 1,400,000 square feet of office, medical office, industrial, retail, and commercial owners’ association markets, in Colorado and North Carolina.  In late 2019, Tiffany also signed a residential HOA client in the State of Florida. Tiffany intends to start developing commercial real estate in late 2019/early 2020 and will then self-manage those assets. 

 

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