Investments of Interest
W.T.F (Watch the Forecast)
Real Men of Genius
Set the "Stage"
Wildcard
100
This person is responsible for calling ICOM members to preview an opportunity, prior to bringing it to the meeting for approval.
The DI
100
What's most important? Meeting proforma rent, having high occupancy, or something else?
Revenue, Revenue and resulting NOI trump all else!
100
This former DI once tore down garages to create more parking...
Ted Collie!
100
A model should be advanced to what stage for a Best & Final Offer?
Stage 3
100
Your expense report should be submitted by when?
The 30th of the month.
200
What should not be demolished before obtaining building permits?
Clubhouses, but basically anything that is going to require a permit to renovate.
200
You only live, this many times.
Twice!
200
When there are "zero" assets on the market in your coverage area, you should use this to aid in prospecting for opportunitie.
Stage Zero!
300
How long should it take to convert all contract allowances to hard costs?
Within 90 days.
300
What is our average bad debt across the portfolio over the last year?
2.5%
300
How many assets have we successfully added bedrooms to in the last several years?
Three
Cortland Flatirons - Hallway Encapsulation
Cortland Sabino Canyon - 2 to 3BR
Cortland North Tucson - 2 to 3BR (loft)
300
A model should include an insurance quote and tax opinion by what stage?
Stage 4
300
Cortland's Promote in Fund VI is what?
20% over a 9% IRR, with a 50/50 catch-up
400
You're performing a simple pool renovation, should you have a set of design documents for the contractor to build based upon?
Yes! Simple renovations often wind up becoming a mess because we don't follow the same process, we need to change that.
400
This Cortland Legend introduced us to the popular digestif, the Carajillo.
Jacob 'El Jefe' Saour
400
When an asset is brought to Final ICOM for approval, what is the appropriate model stage?
Stage 4
400
What is the average in place rent across the portfolio today, Term Rent, Not effective (within 5$).
$1,865
500
You are well ahead of occupancy, and resulting revenue and cash flow on a wholly owned value-add asset. You have additional uses (new scopes) that you can now fund from your excess cash flow - who is responsible for orchestrating the transfer of cash to the renovation account?
The DI!
500
On a value-add asset, how long should operations "hold units" to give to build?
24 hours or less! If CB cannot accept units, then they should be made-ready and leased as classics. Anytime this is occurring, notify the lead CM and Clay.
500
Cortland invested this much fresh capital as our Co-Invest in the Parkwood Portfolio.
Technically $0, we flipped contracts on several assets and performed simultaneous closings that funded our co-invest in the portfolio!
500
DI who has run the most Stage Zero Models this year.
TBD
500
Which Fund's T-24 Chart is this?
Fund IV