Advice Needed: First 100 Days Operating Plan post Multi-family acquisition

[Mohammed S.]

Hello All,

I am putting together an operating plan (the first 100 days) of a 20 -unit multi-family acquisition. Can any one can share their thoughts/insights of this First 100 Days plan such as the various elements and the prioritization of those elements. For example, I need to have (or design) a sample management report that i expect to see from my property manager.

Ideally, I would like to hand this plan to my property manager on Day -1 of the property acquisition so that he/she has clear direction on what he/she needs to delivery in the near term.

Can anyone share sample operating plan they have put together or share what other elements need to be considered for this First 100 day plan? Are there any resources that I can refer to that may provide a few examples.

Thank you,

Mo

[Jeff Greenberg]

I prefer to have the PM to be the face of the ownership. I have introduced myself as a representative of the owner. In fact, since, the investors are the owners in the syndicated deal, this is true.

On the other hand I like the idea of tenants having a source to go to if the issues are not being resolved by the PM. We found out the hard way that there were some upset tenants. The issue could have been resolved more quickly if the tenants would have had a way to let us know. We don't want to undermine the PM, or do their job for them, but we do want to know when they are not doing their job.