Need Advice Managing Family’s Strip Center
My uncle recently fell ill and I’ve been assigned to manage a strip center he owns outright. 10 tenants and 2 vacants. I’ve been at it for months and don’t hesitate to shell out money on software and courses. I spent $1,075 on an commercial property management course and it’s been a wealth of knowledge. This is my first time reaching out for help. A mentor if you will. I learned very early on in life that nobody’s time is free. I’m willing to reward generosity with generosity. It’s only right and will be respectful of your time. This isn’t financially motivated I just want to do a good job for my Uncle his daughters that are all too young to handle this responsibility. If it means anything I have really enjoyed what I’ve been learning and look forward to learning more. 

Thank you.
[{"id": "fjge0rp", "text": "What do you need help with?", "replies": [{"id": "fjge7t1", "text": "Administrative tasks. Creating budgets. Monthly operating statements income and expense reports. I now how to do most of this most of my questions can be answered with a simple yes or no.", "replies": [{"id": "fjjeuep", "text": "So in accounting there is this phrase SALY, which means same as last year. For the monthly statements, just got back to periods your uncle did and see what exactly he put in to each balance and take the same things and group them together in this period. What software is used? Does it not create some sort of financial statement report? What kind of budgets are you creating? If they are monthly operating budgets then just do the same except think about whats changed. A tenant's lease is expiring and the unit isn't filled then exclude that rent from that period's budget. Did he budget 3k to snow removal for the month of March last year? Then do it again this year. Commercial leases usually are years long and have built in escalators. Is anyone's rent scheduled to go up? Check the prepaid expense schedule to see what contracts might be expiring/need to be renewed. Look for amortization schedules to see if something's useful life is coming to and end and if a new one is needed.", "replies": [], "depth": 3}, {"id": "fjma0y3", "text": "You need to be more specific..you\u2019re not really asking anything", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fjge6no", "text": "First things first, don't do anything without some sort of ownership and or agreement in place that you have the legal authority to do xyz from whatever entity or person that owns the property.", "replies": [{"id": "fjh6u6o", "text": "I\u2019m on the payroll for whatever that\u2019s worth. It\u2019s family I have to do what I\u2019m told.", "replies": [{"id": "fjhqqij", "text": "fix it, lease it/Max out the rev, triple net it, and either refi it or sell it.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fjgmqa2", "text": "I mean where to begin? I\u2019m in asset management we have about 4b of retail under management", "replies": [{"id": "fjh6p1s", "text": "I\u2019ve been doing plenty of research on my own. Don\u2019t need to be spoon fed would just like to run somethings by someone that can say good that\u2019s the way it\u2019s done or no that\u2019s stupid.", "replies": [{"id": "fjhp5ag", "text": "Well shoot - what are some of your questions?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fjgtsvx", "text": "i can help out. DM me your questions. Also where are you located?", "replies": [{"id": "fjh6jxz", "text": "Thank you sir!", "replies": [], "depth": 2}], "depth": 1}, {"id": "fjh84xq", "text": "So you don\u2019t have a property management hired? Why not get one? At the very least, you can learn from them. And the fee is something you should be able to pass on to tenants (Around 4% where I\u2019m from; would need to review lease agreement to verify).  Best of luck! Pm me if you have specific questions.", "replies": [], "depth": 1}]