“Focus on pressure points:
what are the client’s pressure points? And how can
we manage around those?”
RICHARD F. MUHLEBACH, CPM, SCSM, CRE, RPA
RICHARD MUHLEBACH, LLC
BELLEVUE, WASH.
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PROPERTIES: A
PRACTICAL GUIDE FOR
TURNING AROUND
“I always ask people three
things: What are we doing
that we should keep doing?
What are we doing that
we should stop doing?
What are we doing that we
should start doing?”
KATHLEEN HARMON, CPM, ARM
GREAT PLACES, INC.
MINNETONKA, MINN.
“What is your exit strategy?
Receivership can last from
45 minutes to 10 years.
Consider how you will use
your company’s assets to
take on properties before
you decide to take on a
troubled property.”
JOHN GALLAGHER, CPM
POLINGER SHANNON & LUCHS CO., AMO
CHEVY CHASE, M.D.
“Get everybody involved in
the management plan—all
of the different disciplines—
and then you have some-
thing by experts rather than
just one person’s opinion.”
KENNETH GOODACRE, CPM
GOODACRE FARMS, INC.
In the session titled, Where’s the Money, Turning
Around Troubled Properties, four expert panelists
defined the core principles of positioning a troubled
property.
The key to starting a new life for a property is “tak-
ing your expectations, knowledge and skills and put-
ting them into practice,” said Jack Gallagher, CPM,
with Polinger Shannon & Luchs Co., AMO, in Mary-
land. “Consider how you will use your company’s as-
sets to take on properties before you decide to go
that route.”
Ken Goodacre, CPM, of Goodacre Farms, Inc., in
Tempe, Ariz., stressed the importance of assembling
a team of experts to ensure the every area of the
property is firing on all cylinders.
“Always exceed expectations—a talent that will
serve you well. Under-promise and over-deliver,”
said Kathleen Harmon, CPM, ARM, of Great Places,
Inc., in Minnetonka, Minn.
