Ever wondered how to perfect your pro forma budgeting for real estate investments? This episode is a goldmine of valuable insights as we sit down with seasoned broker and senior managing director at Greysteel, Doug Banerjee. Doug generously shares his expertise on everything from calculating reserves to avoiding common pro forma mistakes, as well as the importance of vetting your general partner and management team before investing in a property.
As we dive deeper into the world of real estate investing, Doug enlightens us on the impact of scale, supply chain issues, and inflation, and why it’s essential to consult a tax expert when considering real estate taxes and insurance. We also explore the differences between in-house and third-party management, discussing the pros and cons of each, and learn about the dramatic increase in payroll growth over the past decade.
Closing out this information-packed episode, Doug shares his personal metric of finding a balance between work and family, while also touching on the significance of vendor connections, pricing power, and the size and geography of your business. We also delve into the typical amount of reserves operators have in place from day one, and the crucial aspect of budgeting for CAPX projects. Don’t miss this fantastic opportunity to learn from an industry expert and level up your real estate investment strategies.
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About Doug Banerjee
Experienced Senior Managing Director with a demonstrated history of working in the commercial real estate industry. Skilled in Sales, Analysis, Portfolio Management, and Real Estate Development. Strong professional with a Bachelor of Science focused in Materials Science and Engineering from Virginia Polytechnic Institute and State University.
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