A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers...
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Transcript of A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers...
![Page 1: A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers Becoming Lessors Speakers: Joe Andries – GreatAmerica Portfolio.](https://reader035.fdocuments.us/reader035/viewer/2022072015/56649ec15503460f94bcda9d/html5/thumbnails/1.jpg)
A Well Oiled Machine:Running Your Portfolio
Saturday, March 24, 2012
1:30 pm
Track: Brokers Becoming Lessors
Speakers:
Joe Andries – GreatAmerica Portfolio Services Group, LLC
Jack Harvey, CLP – Enterprise Financial Solutions, Inc.
Amy Spragg, CLP – Pacifica Capital
![Page 2: A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers Becoming Lessors Speakers: Joe Andries – GreatAmerica Portfolio.](https://reader035.fdocuments.us/reader035/viewer/2022072015/56649ec15503460f94bcda9d/html5/thumbnails/2.jpg)
Speakers
• Joe Andries – Vice President and General Manager of Great America Portfolio Services Group LLC, Cedar Rapids, IA.
• Amy Spragg, CLP – Owner and Managing Director of Pacifica Capital, San Juan Capistrano, CA.
• Jack Harvey, CLP – Owner and President of Enterprise Financial Solutions, Inc., Little Rock, AR.
![Page 3: A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers Becoming Lessors Speakers: Joe Andries – GreatAmerica Portfolio.](https://reader035.fdocuments.us/reader035/viewer/2022072015/56649ec15503460f94bcda9d/html5/thumbnails/3.jpg)
Invoicing
• Interim Invoicing/Rent– Fixed due date method– Proactive due date extension method
• Invoice Generation– Internally– Outsourced– Coupon Booklets– ACH– Email or US Mail
![Page 4: A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers Becoming Lessors Speakers: Joe Andries – GreatAmerica Portfolio.](https://reader035.fdocuments.us/reader035/viewer/2022072015/56649ec15503460f94bcda9d/html5/thumbnails/4.jpg)
Invoicing• Custom Invoicing
– Private label– Master lease consolidation– Individual schedules– Marketing solicitation
• Invoice Content– Billing information– Payment– Fees and taxes– Asset– Miscellaneous– Remittance stub with return envelope
![Page 5: A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers Becoming Lessors Speakers: Joe Andries – GreatAmerica Portfolio.](https://reader035.fdocuments.us/reader035/viewer/2022072015/56649ec15503460f94bcda9d/html5/thumbnails/5.jpg)
Cash Management &Payment Collection
• Forms of Payment– Check– ACH– Wire– Credit Card– “Western Union”
• Lockbox/PO Box– Major/Regional Bank– Local PO Box
![Page 6: A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers Becoming Lessors Speakers: Joe Andries – GreatAmerica Portfolio.](https://reader035.fdocuments.us/reader035/viewer/2022072015/56649ec15503460f94bcda9d/html5/thumbnails/6.jpg)
Sales Tax / Use Tax• Application
• Process returns– Online– Via mail
• Frequency
• Audits
• Accrual vs. Cash Basis
![Page 7: A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers Becoming Lessors Speakers: Joe Andries – GreatAmerica Portfolio.](https://reader035.fdocuments.us/reader035/viewer/2022072015/56649ec15503460f94bcda9d/html5/thumbnails/7.jpg)
Personal Property Tax
• Request Statement
• Process statement
– Declaration date (Jan 1st)– Report assets on statement– Invoiced by jurisdiction– Tax due– Default Account
![Page 8: A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers Becoming Lessors Speakers: Joe Andries – GreatAmerica Portfolio.](https://reader035.fdocuments.us/reader035/viewer/2022072015/56649ec15503460f94bcda9d/html5/thumbnails/8.jpg)
Personal Property Tax
• Bill Lessee’s– Estimated monthly amount on each invoice– Estimated annual amount in advance– Actual annual amount
• Conditional Sales/$1.00 purchase option• EFA• Audits
![Page 9: A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers Becoming Lessors Speakers: Joe Andries – GreatAmerica Portfolio.](https://reader035.fdocuments.us/reader035/viewer/2022072015/56649ec15503460f94bcda9d/html5/thumbnails/9.jpg)
Account Support& Collections
• Customer Service– Early payoffs/buyouts
• Collection Procedures– Call– Letter– Legal– Enforcement/Repossess– Remarketing
![Page 10: A Well Oiled Machine: Running Your Portfolio Saturday, March 24, 2012 1:30 pm Track: Brokers Becoming Lessors Speakers: Joe Andries – GreatAmerica Portfolio.](https://reader035.fdocuments.us/reader035/viewer/2022072015/56649ec15503460f94bcda9d/html5/thumbnails/10.jpg)
End of Lease
• Evergreen clause/month to month renewal
• Notification options
• $1.00 purchase option
• True lease collection
• Equipment Return/Remarketing