Property/Asset Manger

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ERIC SANCHEZ

** * ***** **** ** • Holmes, NY 12531

***********@*****.*** • 845-***-****

ASSET MANAGEMENT

Financial Analysis / Asset Management / Budgeting, Forecasting & Planning

~ Extensive Real Estate Industry Experience ~

High-caliber professional with a proven ability to drive cash flow, maximize budgets and ensure compliance in business, property management, accounting and finance. Successful career combines solid education and progressive experience as a financial leader and problem solver. Broad-based knowledge of real estate industry operations and asset management, including valuation, due diligence, financial modeling, trend analysis, risk management, GAAP, lease administration, account management, process innovation, legal affairs and capital improvements. Areas of expertise include:

Financial Analysis

Budgeting & Variance Analysis

Lease & Contract Administration

Financial Statement & Report Preparation

Project Analysis, Valuation & Management

Financial Planning & Forecasting

Analytical Reporting & Recommendations

Procurement & Contract Negotiation

Legal Affairs & Compliance Issues

Property Management

PROFESSIONAL EXPERIENCE

ARGO REAL ESTATE – New York, NY

Director of Procurement (5/1/2018 to 10/18/2019)

Revamped Procurement Protocol to be significantly more efficient while providing better oversight and accountability of all operating expenses and capital expenditures for the over 100 million dollar operating and capital budget. Prepared project specifics, bid out, negotiated pricing and provided project management for over 300 different projects ranging from small jobs such as new intercoms to million dollar major capital improvements. Created and executed development plans for the 4,000 unit 30 building family owed portfolio and assisted 18 property managers in developing and executing plans for 4,000 more Condos and Coops. Selected Contributions:

Negotiated better pricing for apartment renovations and major capital improvement for the family owed 4,000 units portfolio and the 4,000 unit condo portfolio saving the company, boards and owners over 3 million in operating expenses and capital expenditures.

Audited, analyzed, created and executed a development plan for a 1,000 unit 21 building asset in response to the new Tenant Protection Act to legally and effectively raise the value of the property 25% over the next 3 years.

HIRSCHFELD PROPERTIES – New York, NY

Senior Asset Manager (9/1/2017 to 3/2/2018)

Selected Contributions:

Analyzed and tracked performance of apartment renovations and leasing efforts for 536 Luxury and Rent stabilized apartments.

Found operating inefficiencies in the management of 18 commercial spaces and 17,000 total sq ft and worked with management to adjust operations, leading to an annual net income increase of 500,000. Prepared and filed MCI for Backflow preventers in all 7 buildings totaling 400K in construction cost.

FAIRSTEAD CAPITAL – New York, NY

Asset Manager, Savoy Park Apartments (7/11/2016 to 2/2/2017) Selected Contributions:

Prepared Closing Statement and spearheaded the Yardi transition of the 2016 sale of Savoy Park to Fairstead Capital.

Prepared and filed MCI for Backflow preventers in all 7 buildings totaling 400K in construction cost. L&M DEVELOPMENT PARTNERS– New York, NY

Asset Manager, Savoy Park Apartments (12/2012 to 7/11/2016) ERIC SANCHEZ Page 2

Provided financial expertise and direction with full accountability for financial analysis, accounting, AD-Hoc analysis, budget and variance analysis, and all financial reporting for Savoy Park. Created Financial Models and Budgets. Managed, analyzed, and reported cash position to ownership on a weekly basis. Ensured full compliance with policies, legal requirements, contracts and negotiated agreements, judgements, and GAAP standards. Managed and maintained monthly financial analytic reports for ownership. Selected Contributions:

Used Market Data, Leasing History, HPD Regulatory Agreement parameters, AMI restrictions, Legal Rent restrictions, DHCR restrictions, and other Unit Specific data to build an Income Model which predicted Two Year Cash Flows within .5%

As a part of Due Diligence, leveraged historical Rent Rolls, Lease Abstracts, Vacancy, Move In, Renewal and Turnover data, and historical Rent Stabilization Guide Lines to Reconstruct Legal Rents initially over/understated on 1000+ units 5 years prior.

Tracked Unit Recovery data from Turnovers due to Early Termination, Eviction, Non-Renewal, Natural Attrition and Legal Skips and AMI Designation and Market Data monthly to determine future Turnover and Renovation Capital needs.

Valuated Electric Sub-Metering Project. Worked with Project Manager to determine scope and cost of work needed, utilized historical electric usage data, historical and projected energy cost, NYSERDA Energy Star Incentive Rebates, PSC regulation abstracts, DHCR Electric Surcharge guidelines and Service/Rent Reduction regulations to determine NPV, ROI, Expected Savings and Future Cash Flows.

While working with an architect, designed specific layout, put out to bid and acted as the GC for the construction of the Accounting and Administration office at Savoy Park.

Pinpointed and quickly resolved 24+ inconsistencies in 1,800+ tenant accounts and 3 commercial offices. Stabilized the financial position, accounting, and LT Litigation, HPD, DHCR and TPU legal exposure of the once-distressed multifamily asset. Doubled the Net Operating Income in three years and increased the value from 150 to 315 million.

Reduced rent arrears from 5 months to 15 days collecting over 4.5 million past due AR

Developed and managed the legal process in support and advancement of the organization's financial model and direction. Successfully recovered over 300 deeply stabilized units and renewed over 250 tenants occupying apartments without leases.

Identified and proposed strategies to streamline finance and accounting operations, expedite report writing, and ensure accountability, transparency, and timeliness in all fiscal activities. FORDHAM BEDFORD HOUSING CORPORATION – Bronx, NY

Financial Analyst (5/2009 to 12/2011)

Managed accounting functions for large portfolio of residential properties. Performed monthly analyses to track and monitor trends related to portfolio performance, collections, vacancies/losses, energy usage and major expenses. Prepared and filed corporate taxes. Generated detailed reports for investors and decision makers. Serviced internal loans to support new development and capital improvement projects. Ensured compliance. Maintained mortgage/escrow/reserve accounts. Process payments. Updated the general ledger. Selected Contributions:

Prepared detailed budget-versus-actual and variance reports (for cash and accruals) and performed in-depth cash flow analysis for 100+ buildings and 4,000+ units and 20 commercial retail spaces.

Partnered with the Director of Finance and audit teams in developing financial reports and introducing new accounting procedures that were adopted throughout the organization.

Developed a high-performing team of Accountants, Interns and support staff responsible for journal entries, bank deposits and other financial and administrative tasks. HOULIHAN PARNES REALTORS LLC – White Plains, NY

Junior Accountant (While attending IONA 3/2008 to 5/2009) Supported Staff Accountants in preparing annual budgets, performing budget-versus-actual analyses, and generating quarterly variance reports for commercial and residential investment properties. Prepared financial reports for internal and external stakeholders, including investors, Property Accountants, the Controller and CFO.

Selected Contributions:

Meticulously revised cash accounts for multimillion-dollar commercial and residential investment properties across the U.S.

Expertly balanced workload of 100+ national properties. SKILLS

Expert Level Excel, VBA, Macros, Yardi, Timberline, MRI, SQL, Python, ARGUS, DCF, Ad-hoc Analysis, Financial Modeling, NPV, IRR, Valuation, Due Diligence, Closing Statements, Transitions, LIHTC, GAAP, Exposure to SharePoint

EDUCATION

Bachelor of Arts in Finance (2009) IONA COLLEGE – New Rochelle, NY MBA in Business Analytics (May 2020) FORDHAM UNIVERSITY – NEW YORK, NY

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