Early on in my college years, I was introduced to the concept of Just-in-Time management, a concept embraced by foreign automobile manufacturers. The idea was that raw materials necessary to produce an automobile would be delivered to the factory 'Just in Time' to transform them into an automobile; thus, reducing waste and increasing efficiency. … [Read more...]
The Commoditization of the Commercial Appraisal Industry
In 1991, I flew from Dallas, Texas, to Dayton, Ohio, to appraise a self-storage facility for the first time in my career. The facility had cost around $2 million to construct but subsequent overbuilding had saturated the market and it was now worth around $600,000. "Excess profits breed ruinous competition." The truth of that maxim sank in as … [Read more...]
What Does The MAI Designation Mean?
An MAI designation is the most prestigious accomplishment an appraiser can achieve. By hiring a member of the Appraisal Institute with an MAI designation, a client will know that their appraiser has achieved the highest professional level of education and training available to commercial appraisers. What does the MAI Designation mean? To receive … [Read more...]
The Mystery of Time and Money
Many people will recognize this famous painting, The Persistence of Memory, by Salvador Dali. It was painted not long after Albert Einstein developed his Theory of Special Relativity that challenged long-held beliefs about time and how it relates to the world around us. Perhaps it shouldn't come as a surprise that money has very similar abstract … [Read more...]
Commercial Real Estate in Lexington, KY
Anyone looking for an excellent place to start a business should consider Lexington, KY as a top contender. Lexington has a diverse culture and a rich heritage, that continues evolving. Strong growth makes Lexington a good market for new commercial businesses looking to buy a building and establish a presence in the city. It's also a good market … [Read more...]