Beyond the Budget 7-23-25

Speaker: Rich George

Topic: Beyond the Budget

Section 1 Theme: Laying the groundwork – From income to cash flow to confidence.

Learning Objectives:

• Understand key financial terminology and how money flows in multifamily.
• Learn the cash flow formula and how each piece impacts operations.
• Connect the dots from transactions to the General Ledger (GL).

Key Topics:

• Income – Where it really comes from (not just rent).
• Expenses – Controllable vs. non-controllable.
• Cash Flow Formula: Income – Expenses = NOI.
• What the GL tells you (and what it doesn’t).
• Mastering Trends – Using trending to not only manage but to plan for the future.

Section 2 Theme: Plan with purpose – every dollar needs a reason.

Learning Objectives:

• Transition from reactive budgeting to proactive business planning.
• Learn how to set, align, and reverse-engineer operational goals to meet all elements of the business plan.
• Forecast renewals, turnover, marketing, and operational expenses with intention.

Key Topics:

• Start with the Goal: Target NOI and business objectives.
• Common budget misunderstandings.
• Unit-by-unit revenue planning (renewals, move-outs, new leases).
• Strategic marketing and leasing expense planning.
• Line-by-line expense forecasting – not just based on last year.
• Planning capital needs that support revenue preservation and growth, not just fix problems.

Bio:

Your NOI Coach is Rich George, a successful business owner and published author that has over 30 years of business experience. Rich brings a no-nonsense approach to strategic planning and a passion for building cultures.

Rich’s background includes the management of over ten billion dollars of real-estate assets, and over 800 million dollars of capital re-investment strategies. Rich has demonstrated successful acquisitions, dispositions, merger facilitation, and repositions. Key to his portfolio is the management of highly distressed properties, including those in court receivership and turning these into assets rather than liabilities.

Rich attended Wayne State University and he is a Licensed Real Estate Broker. He has been recognized by his peers as a leader in the industry, serving on the Board of Directors for the Property Management Association of Michigan (PMAM), and as the President of The Detroit Metropolitan Apartment Association (DMAA) and as many roles in the National Apartment Association (NAA). He was recognized as one of the first graduates of the Leadership Lyceum for NAA and has is a senior faculty member of NAAEI. Rich has received the honor of the CAPS, CHPE, HOM and ARM designations, and he is an in-demand speaker at many conferences and education events.

Known for his team building, culture changing, and change management skills; Rich leads the market in the development of talent and increases the value of organizations and assets.