03/27/2025
11 am PT / 12 pm MT / 1 pm CT / 2 pm ET
*approximate length: 45 minutes to 1 hour
Presenter: Salvatore Dragone, CPM®, CCIM
Happy New Year! Yes, the budgets are done and now it’s time to see how your crystal ball worked. A budget is only as good as the creator who manages it. Part of the process of executing a business plan or budget is to measure how your spending compares to your plan. Typically, after the 1st quarter (assuming fiscal and calendar years are the same), a manager will compare the property’s income and expenses to date against the budget and then forecast the remaining 3 quarters. This process is done again after Q2, mostly in preparation for the next year’s budget and again at the end of Q3 in preparation for the year end reconciliation.
This one-hour seminar will introduce you to the key aspects of reforecasting, the degree to which you need to forecast expenses and how to manage variances & expectations. In this course, real estate expert and IREM instructor Sal Dragone, CPM®, CCIM will:
- Explain what a budget reforecast is and how it is used
- Discuss what you need to prepare and complete reforecasts
- Share tips and strategies for managing past and future variances
- Discuss the impact of properly reforecasting during the year to help prepare for future budgets and year end reconciliations
Salvatore Dragone, CPM®, CCIM, is Principle and Director of Property Management for Rubenstein Partners, L.P. Salvatore oversees and manages property management efforts for all assets owned by Rubenstein Properties Fund and its affiliates. In addition, he is an Adjunct Instructor at Drexel University.