The interns work most closely with Stewardship’s Investment Team
The Mission of
Investment • Construction • Management • Maintenance
The mission of Stewardship Properties is to
SERVE PEOPLE IN THEIR HOUSING NEEDS
as well as enhance the livability of properties and
our communities for generations to come.
This will happen as we
expand growth opportunities—
personally, professionally, and financially
for our staff in our
Investment Team—Construction Team—Management Team—Maintenance Team
Investment Team—Develop into highly competent real estate investors
by enhancing the skills of marketing directly to motivated sellers and buyers,
creating win/win purchasing situations, and buying properties with untapped potential.
This team will also secure the needed capital for the purchase and remodeling of new properties.
Construction Team—Build increasingly skilled remodeling crews who work very efficiently,
helping to assess properties before purchase and adding the most value per dollar in their remodel.
Management Team—Grow in excellence in serving our residents through out the rental process.
This includes accurate accounting and keeping rents at competitive rates in order to grow our business.
Maintenance Team—Satisfy residents’ ongoing maintenance needs and retain property values
through continually prompt and quality service with the most cost effective repairs possible.
Stewardship Properties includes the following four teams:
||Investment Team—Acquire Value
through wise purchases/sales
Retain Value through
|| Construction Team—
Enhance Value through
Management Team—Realize Value
through outstanding administration
Our BHAG—Big, Hairy, Audacious, Goal
|Beginning January 1, 2005
SP set a fifteen-year BHAG—
Big, Hairy, Audacious Goal—
To grow ten times larger
than our present size.
The Goal & The Means
|To reach such a BHAG we must
cultivate the energy and talent of
our staff in each of the four teams.
Such an effort is critical if we are to
become an enduring great company.
Such a BHAG will require us to pay particular attention to the growth of those who are in our…
individuals who are
real estate investors
This group focuses on enhancing their skills of creative deal-making, finding motivated seller, and purchasing property with untapped potential for short-term cash flow or long-term value.
Stewardship’s Investment Strategy
Up until recently Stewardship has typically bought, remodeled and held onto properties. This is the best method for long-term wealth building—strategy #1 below. With a strong emphasis on expansion there comes the need to generate more cash. So, we are beginning to use strategies #2 and #3 as well.
1) Hold—Buy, remodel, and rent out
2) Flip—Buy, remodel the property as necessary, and sell
3) Lease/Option—Buy, remodel as necessary and lease with the option to buy
Hold—This house was purchased while in probate. It is near were Sacred Heart is building the new River Bend Hospital. We feel the area has a high potential for appreciation and so we are renting it.
Flip—This property was in foreclosure and the bank was willing to sell it on a “short sale,” which means they took less for it than they were owed. We paid cash for it, put a minimal amount of cosmetic work into it, and then immediately put it back on the market for a quick sale and solid profit.
Lease/Option—Unlike the property above, this house proved to be a bad deal because we underestimated its considerable remodeling expense. Also its relatively poor location limits appreciation. A lease/option gives the highest possible rental income and the highest sales price but necessitates waiting up to two years to get our cash back when the tenant/buyer exercises their option to purchase by getting bank financing.
New Salem Office—Go With The Opportunities
In April of 2006 we purchased an office in Salem. This is the first step to increase our geographical reach beyond Lane County. Our investment team, along with the summer interns, will increasingly shuttle up and down the I-5 corridor seeking to establish property values and look for good deals. Thus far we have bought properties in Salem, Corvallis, and the Coos Bay area. We want to go wherever the opportunities present themselves… and there are plenty of opportunities!
Having a second home base in Salem will allow us to more effectively target such cities as Salem, Corvallis, Albany, Lebanon as well as the Portland area. Spreading ourselves out presents challenges—especially related to construction, property management and maintenance, but we are learning as we go. One day soon we hope take our first step outside of Oregon.
So Here’s The Bottom-Line
We want to find serious interns who are teachable and open to work hard. We will train them to become skilled investors with the potential of joining with us in Eugene, Salem, or other locations. The ultimate hope is that our interns eventually multiply their efforts, becoming seasoned mentors who are capable of creating teams of interns themselves.
If coming on staff with Stewardship Properties does not make sense for your immediate future, then you can still bet the
|summer will add up to be one informative and challenging experience. It will go a long way in equipping you to become a real estate investor in your own right.