The CFA guy who is constantly trying to over complicate real estate...
The accountant who constantly leans on acquisitions guys for post closing things that are within their sphere of responsibility...
The guy who is only in his seat cause his dad and the [insert c suite title here] are golf buddies...
The small, irrelevant details guy...
The "processes" guy who adds no value to anything so resorts to bs processes that are insulting to a rookie investor so he can keep some type of job...
The "slow guy" who takes forever to complete simple tasks and still leaves at 4PM while the true value guys are churning like hamsters on a brand new damn wheel...
Passive-aggressive back office people who believe they are the pillars of the company...
You're all partially to blame for how this night is shaping up. Also, I'm to blame for being an arrogant asshole, but w.e..
feel free to add to the list if you'd like friends...
Ok...
I think if OP changed his post to "people that drive me bat shit nut" as opposed to "people I do not respect" there would be far less MS. No one is perfect and everyone can act in an annoying manner from time to time, especially when you're in close quarters for long periods of time. I feel you though OP
I'm sensing anger
Have you ever worked in a family office? I would beg to have someone who takes a strong analytical approach to underwriting as opposed to the typical "put 100% lease renewals, and 5% annual rent increases in the MLAs in the ARGUS run because it looks good".
Though I agree, I find these guys to be very annoying when underwriting a deal. The problem that I see with this is that a pro forma is anyone's guess. I work with a guy who drowns in details - underwriting multifamiy cash flows BY THE UNIT! It gets so annoying wasting so much time and energy on tiny details on a future that nobody can predict. I'm not saying be aggressive in your underwriting and hope for the best. I personally think that if the location is stellar and pro forma rent comps check out, it would be more important to focus on WINNING the deal.
I wouldn't even wish for my worst enemy to work with that guy....
Yeah, predicting rents for a specific property/unit 24+ months out is basically a shot in the dark. It's the true weakness of the DCF model that it relies on potential garbage future data to reliably predict today's value.
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