2017 sure has been a transformative year. I started out the year in Auckland, New Zealand and honestly the first part of the year I was still figuring out many aspects of what to do in this post-Citrix era. The 2nd half of the year really started clicking for me and at time I can’t believe I’m saying this, but I could genuinely use an assistant.

Professional – Real Estate

The way I look at our real estate activities, it breaks down to three parts–development for capital gains , property management for cash flow, and brokerage for transacting deals. In each aspect we made significant strides.

Development

We broke ground on the Fairview 3 unit PUD project. Despite the delay on foundation work due to rain, we have essentially finished all of the exterior work and start on the interior finishes. As we speak the cabinets are going in and so are the crown moldings. If all goes well, the units should finish late spring/early summer in 2018. We took a calculated risk in building larger units with 3,000+ sf, 3 car garages and 5 bedrooms vs traditionally smaller PUD units. So far the people who called me have really liked our approach. We’ll see if the resale price is consistent with that.

The Glendora horizontal mixed-use project also has much more clarity. We know who our anchor tenant is going to be in the food hall and that has helped exceptionally in signing up the other tenants. I’m so fired up about this project I literally started cold calling and emailing businesses to get them to tour our site. It’s been wonderful to hear others resonate the same belief in this project we had when we first purchased the property.

Property Management

We divested 2/3 of our holdings in Houston. They were purchased through a foreclosure and provided good returns. However, we continue to have difficulties with vacancies as we’re still too far ahead of the growth path in Houston and it’s hard to manage them remotely.

The remaining unit in Houston along with the rest of our portfolio performed well. We got a little aggressive with the rent for a unit in San Francisco. That along with a few prospective tenants that we are not exactly 100% comfortable with led to a slightly longer vacancy but we’re glad to have a quality tenant with raving previous landlord references that officially moved in last week.

The vacation rental unit did exceptionally well this year. It has been stressful though with the massive amount of snow hitting Tahoe this winter. Fortunately we properly documented all the damages and the insurance company covered most of the expenses. We benefited from a few holiday and long term rentals that significantly boosted our revenue. Another big step we took was to switch off the property management company we used to go all in with vacation rental sites like Airbnb and VRBO. The attention to details and marketing efforts have led to 40+ 5-star reviews and Super Host status. We did have a long term repeating tenant through that company but honestly they have been underperforming. Thank goodness for our GC and house keeper who provides invaluable service and keeping the entire operation running smoothly.

Agency

This side of the business certainly is new to us. Although having signed and reviewed tons of purchase agreements, having to go out and market myself is totally different. I decide to get into this to further my own deal flow and help others with everything I’ve learned in the 14 years in real estate. After passing my license exam I took my time interviewing brokerages and ask others in the industry for their opinion. Finally I decided on joining Berkshire Hathaway HomeServices.

I don’t particularly like to talk about how great I am; I just want to do good work and let my work speak for myself. It’s how I’m brought up so I’ve been a little conflicted about some of the approaches or tactics this industry practices. I’ve tried out a few ideas the 2nd half of this year with encouraging results to help guide me on where to focus in 2018. For all the clients I’m already working with, thank you for putting your trust in me. I’m immensely honored and I won’t let you down.

Professional – Manufacturing

This has been a down year for our manufacturing and it was expected. There was an EPA regulation related to aerosol propellant and lots of customers ramped up their inventory to stock the cheaper product, which led to the lower sales this year. We expect business for next year to revert back to normal level.

Our main focus this year has been on product development. The flagship patented product is set to expire soon. Much of our efforts have been to get ready for that day. We believe in our reputation and quality in this space, but we anticipate some loss of business and/or margin squeeze. Going forward our plan is to build out the marketing material, extend into other product lines and other markets.

Personal

On the personal front, it’s nothing short of wonderful. The most exciting part is getting engaged to Yoonie. I’ve never stressed too much about this aspect of my life. I’ve always felt like I should work on myself to be the best version I can before I get involved with someone and tried to find answers through another person’s lens. However, this amazing soul came into my life, and right away I can see the future with her (not literally, c’mon). It’s not always hunky dory and we’ve had our share of frustrating moments, but what made me so confident is our reaction to those moments. We have always been able to communicate, share, and most importantly listen and understand the other person’s point of view to come to a conclusion or course of action that’s the best for the BOTH of us.

I got the ring custom made by a friend. Prior to our trip to New York, London, and Munich we had an extra day to hang out in LA. I played it off like a regular day with it ending in Laguna Beach and found this somewhat private area by the water, asked her some questions to reflect about the time we’ve had and how she would feel about spending the rest of her life with me. In the interest of safety because we were standing on some sketchy rocks, I didn’t get down on one knee, which she still reminds me from time to time.

Here’s to you babe, and to 2018!