Real Estate Manager

Jeffrey Rich Resume Document Transcript

JEFFREY RICH

* ********* **** 919-***-****, 919-***-**** [cell]

Chapel Hill, NC 27514 abpn17@r.postjobfree.com

SUMMARY: 23 years experience in real estate as broker and appraiser of residential, multi-

family and small commercial properties, including 11 years in property management. Seeking

role as leader or contributor to leverage expertise in evaluating single and multi-family

properties and small commercial for mortgage lending or asset disposition.

Recognized for skills in:

Acquisition, Leasing and Management of Multi-Family Rental Properties

Conducting Research Determining Acquisition Price Obtaining Bank Loans

Setting Rental Rates Tenant Screening and Evaluation Rent Collections

Negotiating Repairs / Improvements / Carrying Costs

Achieving Appropriate Debt Coverage Ratios Driving Profitable Sales

EXPERIENCE

Managing Partner/Principal Owner, Innisfree Properties, LLC, Chapel Hill, NC 1996-Present

NC licensed real estate firm that acquires, manages and sells single- and multi-family properties

in Central NC. Specializes in rehabilitation / resale of single-family homes, and acquisition /

management of multi-family properties. Offers brokerage services to home buyers and sellers.

Acquired 65 multi-family rental property units in Durham and Nash counties

Purchased, rehabilitated and re-sold several single-family properties for average profit/unit

of $12,000 in strict compliance with local housing code standards

Generated quick positive cash flows with three multi-family units

o Identified and secured qualified tenants on one, raised rents on other two

o Sold one unit four years later for substantial profit

Bought 16 rental income units with 100% financing

o Initial gross income provided small negative cash flow

o Within 12 months increased total gross to positive annual cash flow

o Sold four years later, netting profit >$75,000

Evaluated new property acquisitions using Durham GIS System, Tempo/Triangle MLS

System, Courthouse Retrieval System [CRS]

Co-Managing Partner, Lake North, LLC, Raleigh, NC 2005-Present

Real estate investment partnership specializing in multi-family and small commercial real estate

projects with annual revenues of $300,000+.

Since incorporation in July 2005, more than quadrupled Lake North value in net equity

o Conducted research, analysis and acquisition of income-producing properties, using

ProForma software, County GIS Systems, LoopNet.com and Multiple List Systems

Led rehabilitation / renovation of $400,000+ 16-unit residential apartment building

Achieved profit of $200,000 by acquiring, managing, selling daycare center

o Purchased at foreclosure; optimized appraisal enabling 100% financing

o Generated positive cash flow immediately with initial tenant

o Sold property 16 months later, netting substantial profit

Acquired vacant medical building and parking lot

o Directed renovation of building and premises

o Leased seven months later, generating positive cash flow

Solicited, reviewed contractors quotes on renovation/rehabilitation projects, established

budgets, monitored work, schedules, invoices and construction draws

Manager of Residential Appraisal Department, 1993-1996

Hastings & Associates Ltd, Inc. [now Spivey Group, Inc.], Orlando, FL

Real estate appraisal firm with $3MM in annual revenues, and 12 employees. Specialized in

commercial / residential appraisals to government municipalities and lending institutions.

Managed residential appraisal department, performed and reviewed appraisals of real

property throughout Central FL

Performed and reviewed Uniform Residential Appraisal Reports (URAR) and Relocation

appraisals according to Uniform Standards of Professional Appraisal Practice [USPAP]

Retained large relocation clients, increased volume from residential lender clients by 20%

Serviced appraisal needs of fifty mortgage lender clients

Supervised and reviewed appraisal work of three residential staff appraisers

PREVIOUS EMPLOYMENT

Residential Staff Appraiser 1989 1993

Great Western Bank [now Washington Mutual Bank], Orlando, FL

COMMUNITY AND VOLUNTEER INVOLVEMENT

Member, Durham Association of Realtors and Triangle Multiple Listing System Present

Past President, Triangle Real Estate Investors Association 1999 2001

Greater Durham Chamber of Commerce and Leadership Durham Graduate 2002

Member, Wake County Apartment Association Present

Member, University United Methodist Church, Chapel Hill, NC Present

Volunteer, Inter-Faith Council Shelter, Chapel Hill, NC Present

EDUCATION AND TRAINING

Bachelor of Arts, English Literature, Rollins College, Winter Park, FL

Licensed NC Real Estate Broker

Member, National, North Carolina and Durham Association of Realtors

Certified Residential Real Estate Appraiser in Florida for over 10 years

Appraised 4,000+/- units of residential and multi-family real property

Completed Real Estate Licensing and Certification courses

Appraisal Theory, Residential Valuation, Housing Inspection / Analysis, Basic Construction

Concepts and Uniform Standards of Professional Appraisal Practice

Contact this candidate