Hi everyone, welcome to my blog! I'm Tanmyaa Gupta, and this blog will be where I reflect on my senior project as it progresses from early February to April.
Before I begin, I should probably tell you a little bit about myself. I am small (at 5"1') but think big. I am currently a senior at BASIS Scottsdale, and when I'm not at school, I binge-watch Brooklyn 99 (or Downton Abbey with my mom), annoy my 12 year old and practice Krav Maga a couple of times a week (alright, who am I kidding? I either go every day of the week or not at all. Achieving consistency is one of my New Year's Resolutions).
But we should probably go onto the reason that you're here. For the third trimester of my senior year, I will be interning at Churchill Commercial capital, a local financial brokering firm, learning about real estate in a commercial context. I've always loved finance, and there isn't a better opportunity for me to explore my passions than the present.
As far as I know, I will be assisting with the brokering of a deal between two companies in order to construct an apartment complex in Tempe, near the light-rail. However, I like to think in terms of the big picture. Every decision we make has bigger consequences, and the construction of an apartment complex will definitely have a larger economic impact on the surrounding area. There might be further development in the area, whether residential or commercial. I want to understand the way that private firms work with local or municipal governments, residents of the area of interest, and other organizations in order to come together under a deal like this.
I hope to follow the progression of the deal as it takes place in order to see what factors play into financial brokering. I also intend on gauging to what extent it will affect economic development of the area. I think it'll be fun!
I plan on posting every week to keep track of the little details and big events that take place, and hopefully, at the end of this project, I will be one step closer to understanding finance and economic development in an urban context.
Thank you for reading my first post, and I'll see you next week!
Before I begin, I should probably tell you a little bit about myself. I am small (at 5"1') but think big. I am currently a senior at BASIS Scottsdale, and when I'm not at school, I binge-watch Brooklyn 99 (or Downton Abbey with my mom), annoy my 12 year old and practice Krav Maga a couple of times a week (alright, who am I kidding? I either go every day of the week or not at all. Achieving consistency is one of my New Year's Resolutions).
But we should probably go onto the reason that you're here. For the third trimester of my senior year, I will be interning at Churchill Commercial capital, a local financial brokering firm, learning about real estate in a commercial context. I've always loved finance, and there isn't a better opportunity for me to explore my passions than the present.
As far as I know, I will be assisting with the brokering of a deal between two companies in order to construct an apartment complex in Tempe, near the light-rail. However, I like to think in terms of the big picture. Every decision we make has bigger consequences, and the construction of an apartment complex will definitely have a larger economic impact on the surrounding area. There might be further development in the area, whether residential or commercial. I want to understand the way that private firms work with local or municipal governments, residents of the area of interest, and other organizations in order to come together under a deal like this.
I hope to follow the progression of the deal as it takes place in order to see what factors play into financial brokering. I also intend on gauging to what extent it will affect economic development of the area. I think it'll be fun!
I plan on posting every week to keep track of the little details and big events that take place, and hopefully, at the end of this project, I will be one step closer to understanding finance and economic development in an urban context.
Thank you for reading my first post, and I'll see you next week!
Wise words, Tanmyaa - you do think big! I'm eager to learn how you first became interested in business/finance. Is this a course of study that you intend to pursue in college?
ReplyDeleteAlso, on an unrelated note, what is Kraw Maga and how did you get started?
I'm eager to follow your project's progress. In your post, you mention the consequences attached to every action. I wonder how the complex's location near the Light Rail will impact the brokering. Is this something you plan to explore?
I grew up in a household where politics and economics head all of the conversations at the dinner table, so looking at big-scale things is something I've always done. I've known for a while that I wanted to do something along those lines, but I ended up looking into economics and finance because I learned I couldn't be president (I wasn't born here, and therefore, I am not eligible). I want to major in finance or economics, but I am open to wherever life takes me.
DeleteKrav Maga is an Israeli form of martial arts that was originally developed as defense training for Israeli special forces. To be honest, I don't remember how I started entirely, but I'm pretty sure I saw it in some movie and wanted to give it a try.
I think that location of the apartment complex will definitely play a part in the brokering of the deal, because location of the project can often determine how successful future development of that project will be. I will definitely be looking into the impact of its location into how the deal plays out.
Great introduction! My real estate experience is limited to giving up two hours into games of Monopoly; hopefully your experience is more fun than that!
ReplyDeleteI'm interested in learning more about the deal being brokered. What are the two companies? I'm imagining one company own the land and the other wants to build on it. When do you expect the deal to be complete?
Hi Trey!
ReplyDeleteAs of right now, I haven't been told what the two companies are, but I will know starting next week. The deal is supposed to complete sometime in April, but the timeline can shift depending on how negotiations go.
Hi Tanmyaa! I truly enjoyed reading your blog post; it really felt as though you were talking right to me. I just wanted to know how exactly will you measure how the financial brokering deal affects the economic development within the area. In all, I wish you all the best throughout your journey!
ReplyDeleteThanks Ameya! Economic development, especially in real estate, is measured through property value and income, and I will basically be looking at how those two are affected after the execution of a deal, and to what extent they are good indicators of economic development.
DeleteHi Tanmyaa! Great first post, I feel like I know more about you even though we've known each other for so long. I was wondering about how you are looking at the "big picture", and what you hope to see through these business deals. How do you think these business deals will impact the community or the economy? I look forward to reading your posts.
ReplyDeleteHey Mimi! I think the business deals, especially commercial residential deals like apartment complexes, will bring more income to an area and effectively cause both increased urbanization and gentrification, but we'll have to see how that plays out in specific cases.
DeleteHey Tanmyaa!
ReplyDeleteI love your introduction! I can't wait to hear more about how deals are brokered between companies, because I think the true complexities of corporate interactions are often overlooked by depictions in news/popular culture.
I'm especially interested in the big-picture approach you're taking in studying the impact of the deal on the surrounding community, not just the two companies involved. Do you know how you'll be forecasting/measuring that impact yet?
Good luck!
Grady Day
Hey Tanmyaa!
ReplyDeleteLoved your introduction! I'm very interested to hear about the negotiations made between the two companies. Are you going to be allowed any input during the negotiation process? Also, have you considered looking at the city's future plans for development? Knowing such information will help you to interact between the two companies. How do the current residents in the area feel about the new apartment complex being developed? Looking forward to following you activities!
Best of luck!
Jakob Krygier
Hi Jakob! I will more or less be an observer for any deals that I am allowed to take part in. As for future plans for development, the company that I'm at doesn't directly work with cities but instead with private groups that want to build or refinance something. Instead, I will be looking at the legal obligations that all interested parties have to fulfill. Lastly, I don't know how the current residents feel; most likely, the execution of this deal will lead to a gentrification of the area of mind, which is something that will directly affect the residents of the area, but that's all I know as of right now. Thanks!
DeleteHi Tanmyaa!
ReplyDeleteGreat work with your blog so far! I'm excited to see how the deal progresses. I think it is wonderful you have a passion for finance and community development. Are you planning on majoring in economics or finance? Also, do you know how much of an input you will have regarding the actual deal or will you be mostly observing and supporting it?
On a side note, what exactly is Kraw Maga? I know from the previous comments that it is a form of martial arts, but could you tell me more? It sounds really interesting.
Good Luck with your Project!!
Gabriela Wodka (9th)
Hi Gabriela! I am planning on majoring in Finance, because I find it to be a less theoretical field than Economics, and I like more concrete things. I will mostly be observing and assisting in the prepwork for the details rather than the actual negotiations.
DeleteKrav Maga is an Israeli form of martial arts developed by their special ops, and it's more or less really brutal street fighting. There isn't any ceremony in it or any real belt system like other forms of martial arts, and it's meant to build on your instincts of survival. It's a part of my daily routine and I love every moment!
Hey Tanmyaa! I'm totally excited to follow your journey through real estate as my mom is actually a broker herself! Regarding your internship at the brokering firm, what does it involve? Are you expecting to just act as the passive middleman for two parties, or are you expecting huge disagreements between the two parties and having to create compromises? It sounds like it would involve a great deal of experience in public speaking.
ReplyDeleteFinance is such an crucial aspect of adult life, yet it's often left out of school curriculum. I look forward to hearing more about your project!
Hi Brian! The company that I'm interning at prepares loan requests for several kinds of real estate deals, and so far, I have been learning how to put together those packages. I haven't seen major disagreements so far, because ultimately the deals that I've seen benefit both participating parties. I haven't had to do any public speaking so far, but I figure it will eventually come in handy. Thanks!
DeleteHi Tanmyaa,
ReplyDeleteI am totally excited to see what you do in your journey of being a real estate agent. I was wondering how your decisions will influence the economy and social structure?
Mateo
Hey Mateo! In terms of economic impact, it really depends on the deal. Construction or refinancing of office buildings is different than that of an apartment complex, or that of an industrial complex. The general trend seems to be that the construction of one thing in an area leads to an increase of the value of that area and therefore more development. It gains momentum. In terms of social structure, I don't really know much yet, but I will as work progresses. Thanks!
DeleteHello Tanmyaa,
ReplyDeleteI am extremely interested in what you are about to embark on, this being a very interesting subject and i think that I'm going to learn a lot! It sounds like fun and wish you the best of luck! And a question, how did you decide on joining the Churchill Commercial capital? Are they in Tempe? Talk to you soon,
Kenneth Hodson
Hi Kenneth! I've always been interested in Finance, and the president of Churchill Commercial Capital is one of my best friend's moms. She offered to have someone intern at her company back when everyone was looking for site placements, and I immediately asked, because I already knew her and she knew me. Things worked out. They are not in Tempe, but in Paradise Valley. However, I've learned, after spending time with them, that their work is not limited to just the Phoenix area, but also Tuscon, Utah, and California, if not more. Thanks!
DeleteHi Tanmyaa,
ReplyDeleteYour Senior project is very interesting, I also have a passion in real estate and money. In College i'd like to major in finance and real estate. Maybe I can learn a thing or two from your blogs.
Ismail Hamed
Thanks for the nice comment Ismail! I hope that as this project continues, you can get more than a few glimpses into something you're passionate about.
DeleteHi Tanmyaa!
ReplyDeleteI think your project is really interesting in that it takes a typical business interaction and shows the grander impact it has on the community around them. I'm really looking forward to checking on your progress each week and also on how your research applies to what I'm currently learning in AP Econ.
Best of luck.
Adam Hoffmeister
Hi Adam! I think that as your AP Econ class moves through Macroeconomics, you'll find that some of the terms that I casually mention in my future posts will be recognizable. Finance, after all, is based on economic principles, and so far, I've been really grateful to have taken AP Econ in the past (it helps me be not so lost). Thanks!
DeleteHi Tanmyaa,
ReplyDeleteI stumbled upon your blog and found it to be quite interesting.
With that in mind, what has been the most challenging aspect of financing and analyzing the possibility of real estate in Tempe.
Thank you for considering my question and keep up the great work,
Zand.
Hey Zand! The most challenging aspect so far has been understanding how all of the little pieces of information fit together to form a big picture. I'm slowly putting it together- I think I understand sales comparables, all of the different taxes and their schedules, and a few other things, but I still have a long way to go before I can call myself proficient in everything. Thanks!
Deletehello Tanmtaa how was your spring break? And I have a quick question about your opinion about your senior project. And that is if you would recommend me to do this sorta stuff if i like economy and how money influences the economy?
ReplyDelete