Rafael Aleman MKTG 353 Lecture Notes: Professor for a Day

Sandra Vaughan-Acton Director of Real Estate Development, Real Estate vaughanacton@csupomona.edu Phone: 909-869-3154 Fax: 909-869-4549 Sandy joined the Foundation in January 2008 as its Director, Real Estate Development. Prior to her position with the Foundation, she owned and operated Sterling Asset Services, Inc., a real estate consulting and asset management business for 9 years. Her career started with Catellus Development after graduating with a degree in business from CSUF where she continues to be active, sitting on the advisory board of the Real Estate Land Use Institute. Sandy is a Certified Property Manager as well as a licensed Realtor. Sandy is active in the commercial real estate community holding membership in NAR, CAR, IREM and RCAOC. She is the past president of the Orange County Chapter of the Institute of Real Estate Management which was honored with the 5 Star Chapter award under her leadership and she has lectured and taught in the field of real estate management and development for many years. She graduated in 1984. It took her 5 years; it may take 6 to 7 years now. Its difficult to get through CSU system because it takes 5 years usually to get out 1st generation university Students work part-time or full time. Went to work for Builders Emporium while it was going through Chapter 11. Real Estate holding company Railroads came West to populate the Western United States. It really industrialized it. It didnt just take the 60 feet needed to make the road but acres and acres of real estate. Assistant property manager. Entrepreneurs always start at top, if you are going to be an employee you will start at a low position. Audit general contractors books Book an asset an depreciating the asset. How do you book land, building, tenant improvements. Financing projects, going to the lenders, give money to the project. She left development and moved to managing portfolios of real estate. Which are performing and which are not. Institute of Real Estate management.

Founders Financial Corporation Owned by Family that owned Forest Lawn Cemeteries real estate and mortuaries Vice President of Company in Glendale. The company was very family oriented. You will decide how to juggle having a family and focusing on your career, especially with the commute. They were family owned and decisions were not made based on publicly traded corporations. Endowment care fund? Invested to get a return. You can only spend the gains not the capital. They started to sell some of the holdings, started divesting and selling the portfolio. The company was folded but kept holdings in the endowment care, since they were investment dollars. It was 25% of what they had left. When she closed door and turned off the lights called and asked her to manage those properties. She set herself up to work at home, she had an office outside the home. CalPoly Pomona has 20,000 acres, and even an Arabian horse center. Its a huge place. She is director of Real Estate Foundation on campus. Innovation Village Temple and Valley (entry into the campus) 65 acre research park. Go to the farm store. She was going to be working for CalPoly Pomona Foundation, she got to understand and like the idea. Its sole mission is to support the university. Bookstore, kellog-west, housing, faculty staff housing, and innovation village. Give back to the university over a million dollars a year. Started on the Fall of 2007. The recession started, 123,000 square feet building was built and the recession hit so it was empty. Partner Trammel Crowe. Term carry cost? You are paying a lot of money debt service, water bill, insurance, air conditioner, etc. Developer had to pay rent and then sold the land to Edison. Higher risk you get bigger reward, tey are dealing with funds that cant be gambled, some gambled on real estate and lost. As landlord they are in a partnership and support their position in their partnership. Professional Association she was able to network and find a job. Find the association of whatever career you will be being part of. Get involved now. Baby boomers are starting to retire. The association tells them how to find you. They need youth and knowledge. You need a mentor, how do you get one? Find someone that will guide you. Find professional association, contact. Go online and find those that are in trade you will want to. CPM Certified Property manager Recognized in field in certification has the skill set and knowledge. She has a website and she gets customers through her website. One family member in Colorado and Kentucky. It was a diamond in the rough. Real Estate understanding and background. Save rent checks $14k a month. It will be constructed to multi family housing. She needs 10 years with someone to fill their shoes someday. You are head and heels from where she was when she graduated. We wont reinvent the wheel like she had to.

What do you wish you had known about real estate when you were a student and started your Real Estate Career? The University had problem hiring new PhDs. When they took a look at how much they had to spend to live in California versus another state. They got it from UC Irvine. Faculty Staff housing you build tract homes, you sell the homes but pull the land out of the deal. They hold the land and the buyer of the house holds the house as an asset and it makes it affordable. It takes 25% The PhDs have tremendous debt and its hard, so they dont have to stay on the MidWest.