PCSD

Who did you meet with today?

Today, I met with Scott Thomas, who holds a Bachelor of Science degree in Biology and Mathematics from Georgetown University, a Master of Science degree in Cellular Biology from New York University, and a Master of Business Administration from the UCLA Anderson School of Management. Scott loves reading books in his free time, and enjoys dealing with math problems as he once was a Math teacher.

Where do they work? What does the company do?

Scott works as the Project Finance Coordinator at Blueprint, which is a non-profit organization that partners with charter schools to help give students a better opportunity with a new school or a remodeled version of it.

What did you learn today? What were some highlights?

Today I learned that the flow of money for a project–it has to go through many different steps and that it must start at a lender, then to a borrower, and finally to a vendor–as well as the different roles of a Finance Director, a Project Finance Coordinator, and a Project Manager. Some highlights consisted of tracking budget and the changes they lead to if not followed properly.

What insights did you gain into the field of real estate development?

Some insights I had were just how much budget can change throughout the process of managing a project, and that sometimes it varies if the final costs end up high or lower than expected. Also, if the budget goes over, the conversation with the client might not turn out pleasantly.

What did you find the most interesting about the field after today?

What I found most interesting about the field after today was that the original approved budget is usually never the final total at the end of the finished project.

Who did you meet with today?

Today we met with Crystal Langdon, a Managing Director of Investments at Blueprint. Her key responsibilities at Blueprint include assessing the affordability of construction projects for schools, managing a team that identifies sources of financing for school construction projects, and overseeing Blueprint’s investments in projects. Her reason for taking on this role is that she believes every child should have access to an amazing school where they are safe and loved as there has been a negative history of unequal education in the United States. Also, she believes everyone deserves an affordable home and equal housing. She has a strong belief in trying to do what’s right when something is unfair.

Where do they work? What does the company do?

Crystal works at Blueprint as the Managing Director of Investments. Blueprint is a full-service nonprofit real estate development firm that manages the aspects of site search, construction, design, and financing. This company partners with charter schools to improve learning environments and even create new ones to provide more learning opportunities for all students, regardless of their background, in various under-resourced communities.

What did you learn today? What were some highlights?

During our meeting, I learned many more concepts related to financing, expanding my knowledge of different kinds of loans, such as student, home, car, business, and payday loans. Even the basic parts of loans, like the principal, interest, and term, all play a role. I needed to remember there is less interest if more principal is paid monthly, and longer loan periods increase interest paid even if the monthly payment itself is less. A highlight was watching a clip of the movie It’s a Wonderful Life, which is a favorite for or is known to many. Another highlight was the game “Shady Sam,” which helped us think more about how the basics can come into play in real-life situations, and how loan sharks can take advantage of many when they do not understand financial concepts.

What insight did you gain into the field of real estate development?

The insight that I gained from this session into real estate development is that projects will always need to be financed. There are various basics of loans, like collateral, which can be secure or unsecured, and the interest rates that can be predictable or unpredictable. I learned how people have to manage all of this and be able to understand this for personal gain. Financing plays a very important part in real estate development as it impacts the cost of the overall project.

What did you find the most interesting about the field of real estate after today?

I found the concept of loans the most interesting in the field of real estate after today.  I did not think interest had as big of an impact as it does when getting a loan. When you want to purchase anything and take a loan, you should really pay attention to the details to ensure you are not losing money. There is a loan, most of the time, taken out when purchasing something large, and there are many parts to it that contribute to its price and how the process can work.

 

Who did you meet with today?

Today we met Mary Grace Houlihan who graduated from UC Berkeley and studied geology there.  She loves travelling and the outdoors. She enjoys working with Blueprint and working to create positive learning environments that improve education. She has a lot of experience as she has worked for land developers and worked 17 years in local government. Mary Grace is registered as a Civil Engineer and Land Surveyor in the State of California.

Where do they work? What does the company do?

Mary Grace works for Blueprint as a Project Director. Blueprint is a full-service nonprofit real estate development firm. This company partners up with charter schools to either build a new school or remodel an existing one giving many kids an opportunity to have a better education.

What did you learn today? What were some highlights?

I learned that there are many requirements to developing a property including compliance with CEQA guidelines and local codes, which I didn’t know before today. Another thing I learned was that Agency Permitting can take pretty long. Some highlights of today were that if you want to build in a community, one of the best ways is to go talk to neighbors and businesses in person.

What insights did you gain into the field of real estate development?

Some insight that I gained into the field of real estate development is that not everything goes as planned because of one of the questions asked to Mary Grace was, “Have you ever had a bad experience while doing your job?” She responded by saying that many years ago there was a lot of controversy with a project since they were making too many houses and the community voted against it.

What did you find the most interesting about the real estate field after today?

The thing that surprised me about real estate after today was that you need to have a good connection with the community. For example, if they don’t really agree with the project, they can bring up their issues. And that was really interesting to me. Now I know that you should build support from the community by reaching out to groups that are involved in that area.