Hey everyone! There's a lot going on this week, so I thought I would post a little earlier than usual.
I'd like to begin with a correction; loan reviews (thank you, Mrs. Hammond, for clearing this up) are actually for loans that have already been closed, and the purpose of loan reviews is to just give everything a once-over every year and make sure that nothing needs to be altered. For this week, I've mainly been working on several different loan reviews, including ones for various business parks, a retail center, and even a drugstore. I have five different spreadsheets open right now, and frankly speaking, the amount of money that is casually reported in income statements from property owners and operators is unimaginably large sometimes. Some of these properties have $100k worth of expenses on just external building management (like keeping the front of a store clean, for example) for one year.
I wanted to mention something that I haven't really talked about in the past. In the creation of loan packages, much of (not the majority, but still a significant portion) the work involved goes into the formatting of the package. As such, the information used in the package may be easy to find, but with the inclusion of various maps, market data tables, and property images, seemingly little things can cause problems (page orientation, headers, footers, text alignment etc). Of course, the creation of packages is mostly done in Microsoft Word, and while we are currently looking into creating a powerpoint template for packages, formatting has been one of those things that caught me completely off-guard- I never expected it to play such a large role. That can be said for a lot of things that I've encountered, I suppose.
As the days pass by while I continue my internship, I don't think I'm getting better at becoming an adult. If we make a list of good things that have happened so far today:
1) I have a gigantic box of papers to shred. You all know by now that it's a little joy of mine and I do it when the going gets rough, or my eyes start to ache a little after staring at spreadsheets for so long.
2) I finally bought enough drinks at Dutch Bros to get one free! I don't know what that says about me except that I probably spend too much money on coffee.
I'm still sort of floundering in adultiude.
1) I waved to the receptionist with the cool hair as I was walking into work this morning, and not only did I manage to hit myself in the face with my keys, I also dropped them and then just stared at the ground, sadly. Three people other than the receptionist saw me.
2) I bring my own lunch now to work, but today I grabbed the wrong box of food and I have a lemon and a package of fruit snacks (what a sophisticated snack- five star restaurant worthy) for lunch. It's ok; I have my Dutch Bros coffee to console me. Of course, I could go out to lunch and grab something, but I already have this gigantic coffee, and I wouldn't want to waste more time going out again.
3) I don't have that many professional clothes, and while I have slowly been going shopping and getting more, I had nothing to wear this morning except a floral yellow dress that is so bright that the sun reflects off it, making me look like a walking highlighter. Great.
Anyway, enough of me rambling. I'll probably post again this week to update you on how the loan reviews turn out, and what I end up learning from them. Thanks for reading, and see you then!
I'd like to begin with a correction; loan reviews (thank you, Mrs. Hammond, for clearing this up) are actually for loans that have already been closed, and the purpose of loan reviews is to just give everything a once-over every year and make sure that nothing needs to be altered. For this week, I've mainly been working on several different loan reviews, including ones for various business parks, a retail center, and even a drugstore. I have five different spreadsheets open right now, and frankly speaking, the amount of money that is casually reported in income statements from property owners and operators is unimaginably large sometimes. Some of these properties have $100k worth of expenses on just external building management (like keeping the front of a store clean, for example) for one year.
I wanted to mention something that I haven't really talked about in the past. In the creation of loan packages, much of (not the majority, but still a significant portion) the work involved goes into the formatting of the package. As such, the information used in the package may be easy to find, but with the inclusion of various maps, market data tables, and property images, seemingly little things can cause problems (page orientation, headers, footers, text alignment etc). Of course, the creation of packages is mostly done in Microsoft Word, and while we are currently looking into creating a powerpoint template for packages, formatting has been one of those things that caught me completely off-guard- I never expected it to play such a large role. That can be said for a lot of things that I've encountered, I suppose.
As the days pass by while I continue my internship, I don't think I'm getting better at becoming an adult. If we make a list of good things that have happened so far today:
1) I have a gigantic box of papers to shred. You all know by now that it's a little joy of mine and I do it when the going gets rough, or my eyes start to ache a little after staring at spreadsheets for so long.
2) I finally bought enough drinks at Dutch Bros to get one free! I don't know what that says about me except that I probably spend too much money on coffee.
I'm still sort of floundering in adultiude.
1) I waved to the receptionist with the cool hair as I was walking into work this morning, and not only did I manage to hit myself in the face with my keys, I also dropped them and then just stared at the ground, sadly. Three people other than the receptionist saw me.
2) I bring my own lunch now to work, but today I grabbed the wrong box of food and I have a lemon and a package of fruit snacks (what a sophisticated snack- five star restaurant worthy) for lunch. It's ok; I have my Dutch Bros coffee to console me. Of course, I could go out to lunch and grab something, but I already have this gigantic coffee, and I wouldn't want to waste more time going out again.
3) I don't have that many professional clothes, and while I have slowly been going shopping and getting more, I had nothing to wear this morning except a floral yellow dress that is so bright that the sun reflects off it, making me look like a walking highlighter. Great.
Anyway, enough of me rambling. I'll probably post again this week to update you on how the loan reviews turn out, and what I end up learning from them. Thanks for reading, and see you then!
