First 100 Days

Welcome President Obama.

What a speech!

http://www.youtube.com/watch?v=3PuHGKnboNY&eurl=http://www.whitehouse.gov/blog/inaugural-address/

What a program!
Check it out...

http://change.gov/

Now its time for action.

Over the next 100 days the Obama administration will be making the most ambitious changes in America since the New Deal. I look forward to seeing the results of these changes; I am a big believer that he is going to bring us out of the economic mess that we are in. It will not be easy and will not be a quick process but what happens over the next 100 days will set the pace for our country for years to come and possibly for the next generation.

We at NWJ/Signature Community need to do the same. I don't do elegant speeches with hope and fear in them, but I can present challenges to you. Challenges that I am confident you can reach. Goals that will set the course for our company to sail through these difficult economic times and into the future as an industry leader.

My challenge to you for the first 100 days:

Overall stabilized portfolio occupancy rate 97%. I know the market is lower, economy is bad, residents are losing jobs, etc , etc but at Signature Community we don't understand the word NO so lets not have this word hold us back now. Today we are operating at 94% occupancy which is a few points above our competitors and is impressive, but lets make use of these bad economic times to show our strong positioning as a value lifestyle brand and grow our occupancy.

Acquisitions -$50,000,000 in new deals closed in the next 100 days. Many companies are being governed by fear and have stopped all their growth. I don't think this is the time to stop the growth, its time to start the growth. As Warren Buffet says, "you buy when there is fear and sell when there is optimism on the street". Now more than any time in my career do I see fear in the eyes of our competition and opportunity for growth.

Stabilization group - As I look around our portfolio I see amazing profitable results from all but just a few assets. My challenge to you is to find ways to bring these assets to full occupancy which will turn these assets once and for all into profit centers. We are down to just a few assets with these problems and with a concerted, focused effort we can accomplish this goal.

Wilshire Portfolio - This is my big rock to move across the finish line. Over the next 100 days I intend to close this deal. It’s my job to Make It Happen.

Finance division - $45 Million in new funding within 100 days. Simple enough, we can make that happen.

Equity investments - we are in the unique position within our industry of having a group of investors still committed to funding our new acquisitions. We have $20 Million on the sidelines ready to deploy into new deals lets deploy it now.

I heard a great Abraham Lincoln quote over the weekend - “If I am given four hours to cut down a tree I would make sure that the first 2 hours were spent sharpening the ax."

Let's start planning to hit these goals over the next 100 days.

We can Make It Happen.Thanks.
Nick