Montclair auctions off Label Street property

They looked more like a couple of guys on their way to bowling, not two real estate investors hoping to acquire another property.

Jeffrey Posner, 33, of Montclair, and Eric Van Auken, 32, of Ridgewood, were two of the four individuals sitting in the Township Council Chambers this past Tuesday morning to bid on a piece of municipal property.

Dressed casually – Posner in jeans and flip-flops, and both men wore baseball hats – the two own a number of properties, mostly residential but some commercial lots, they told The Times. They run a Web site that lists foreclosed properties in the state.

Posner, who usually scoops up homes at Bergen County sheriff sales, said before the auction he wasn’t sure whether the two would ultimately win the Label Street lot.

“It depends. There’s an EPA question, so we’re not really sure we can take it,” he said.

The property, an 11,920-square-foot rectangular lot on the corner of Label and Forest streets, is the former home of a motor vehicle inspection station that closed in May 2008. It’s been used as municipal storage since then, and is now for sale to help narrow a budget shortfall.

The May 11 auction was the first sale of municipal property since June 2006, when Montclair sold 16 Portland Place, an old Fire Department facility.

Posner and Van Auken were going up against developers Steve Plofker and Bob Silver. Plofker controls LLCs that own a number of Montclair properties, including the soccer dome on Label Street and the Bloomfield Avenue home of Elevation Burger. Silver is an owner of the former Katherine Gibbs School, and is co-founder of The Bravitas Group.

Plofker and Silver were in casual business attire: jackets, no ties.

Though these four men were the only registered bidders for the May 11 public auction, once Township Manager Marc D. Dashield – acting for the first time as municipal auctioneer – started the proceedings, it was strictly a Plofker and Silver affair.

Silver bid first, a $100,000 offer immediately countered by Plofker. The bids increased in $50,000 increments – see-sawing between Silver and Plofker – until it reached $750,000. It sat there for a minute or two as the manager attempted to wring a few more bucks out of the two developers.

“I know somebody out there wants to give me $800,000,” Dashield said, rubbing his hands together with just a hint of glee.

But Plofker’s $750,000 bid was the last, and when Dashield closed the auction, Plofker leapt up from his first-row seat and immediately wrote a certified check for $75,000, 10 percent of the winning bid.

The bid, which needs to be approved by the Township Council at its May 18 meeting before it is formally accepted, is a bit more than the property’s assessed value, according to Dashield.

After the auction, Plofker declined to specify what he intends to do with the property if the council approves the sale. He has “some ideas,” he said. “I’ll let you know.”

Posner, who didn’t make one bid for the Label Street property, said he was surprised at the amount of Plofker’s winning bid. The lot could still have some environmental issues related to its previous use, Posner said.

Though Plofker is a household name in Montclair, Posner said he had to Google him to find out exactly who he is. An amateur real-estate mogul by comparison, Posner nonetheless said he would have attended the auction even if he were going against Donald Trump.

“Auctions are opportunities and if you never show up, you’ll never know,” he said.

Contact Terrence T. McDonald at mcdonald@montclair-times.com.

You can view the original article here

Business Intelligence (BI) refers to skills, processes, technologies, applications and practices used to support decision making

Business intelligence is relatively a new term being thrown around in business these days. When I think of what it means, I think of a quarterback and/or coach for a team. It’s a skill that can not be taught fully, it has to be layered with experience to really hold some weight. For a while I was wondering what my true skill was…I have a vast background in technology as well as real estate so I figured those were my strongest points, until recently.

What I realized about myself was no matter what industry I am in, I am able to envision or develop systems that will work and save time. It’s not that I couldn’t do other things, but my real skills involve the practice of business intelligence. The art of seeing where to take a business and how to get it there. I use the word art because business is an art; making the right decisions is like painting the correct brush strokes on a canvas…or calling the right plays in the huddle. Whatever sounds right for you!

These days it’s a lot about making things better and improving upon existing products. This is why business intelligence is so important! Small changes in process and structure can result in big profit differences.

Do you have the right Business Intelligence for your team?

It is in these times where you have to really power through your emotions and believe in yourself. Sometimes just taking a break from everything for a bit can help you see things in a new perspective. I personally get frustrated when money runs low and feel like I am wasting time cause many friends of mine have high paying jobs… or maybe you have a friend in business who just gets helped out by their family all the time and now they are doing great… it’s easy to begin comparing yourself to people who you think have it better…

Here is the point where you just stop. Relax and remember. Life is a game. You have made the choices that put you where you are today, whether they have worked or not, you still made choices and you are sailing the ship.

aye, aye…captain!

My business partner and I recently did a Channel 9 News (WWOR) interview with Christine Persichette about foreclosures and buying properties at sheriff sale. It was a great opportunity for us and we had a lot of fun helping her put together the story. It is a “how to” piece following myself (SheriffSalesOnline) and Eric VanAuken (Broker – HomeSmart Realty) on the deals we are currently working and our daily property hunting. I hope you like it!

Do you know your paperwork?

Everyone has herd the popular statement Cash is King, and it’s true for the most part…but I would like to expand that a little more. More and more these days you can say that Paper is now king. We see it everywhere; from contracts, permits, letters of intent, certifications…and the list goes on. The point here is that if you learn how to do your paperwork correctly it is pretty much as good as cash.

Most people I know start out in one of two ways, its either cash heavy and paperwork lite; or vice versa, cash lite paperwork heavy. Let’s dive a little deeper.

*Disclaimer – It is better to start period than to never start at all, I am making a suggestion as to a possible quicker less painful start. However it is far better to start and f*ck up, then to never take a shoot…

Cash Heavy – Paperwork Lite

This is how most people want to start out. A nice chunk of cash in the bank so that you can really make some moves. I mean you know the saying “it takes money to make money”, and a lot of times that may be true. The problem comes in when you don’t understand the value of money and or know your business enough to make these decisions, but that doesn’t stop people and it can end up being a disaster. It is easy to spend money, and that’s usually what happens. You put all your money into one deal and tie it up, then you spend all this time trying to make something of it. Seems a little backwards to me? Plus now all or most of your cash is on the street and you’re stuck. Even if you make it past the initial hurdles, you will still have to learn the paperwork side of your business…so learn it up front!

Cash Lite – Paperwork Heavy

This is how most people should start out. When I was first starting out on my journey to do my own “thing”, someone once told me; “In business you always have two assets, time and money. These usually work in a sliding scale mentality meaning you have more of one in proportion to the other, but they are both equally as strong if used correctly.”

Not only did I agree with that statement, it also made more sense to me, I almost felt that in my “gut”, it was the right way to proceed. That and the fact I had no money at the time! Some people like to call it due diligence, I like to call it knowing the paperwork… Use your time to learn everything you need to know, then leverage your money the best way possible! Some of the biggest deals by the biggest players have been done this way .

Example: Donald Trump sold the 33st rail yards in a deal where he didn’t even have the signed contract back to buy them yet. This is where the Jacob javits Center currently resides. Now that’s a sweet no money down deal!

The stakes go up as you business grows...

When you are first launching your business you have all the time in the world to experiment. Every day is an experiment and trying new things is a way you can gain ground and get ahead. If and when you start to gain traction your decision to experiment should come under more scrutiny. Your business is not just some cash machine, well it is, but it’s more than that. It is a direct releation of you and the type of person you are. Once you have begun to generate revenue, you need to protect the businesses image, and since you are connected to it; your image as well.

Now that you’re generating some revenue

Like I said above, the minute you start generating revenue and/or have some sort of following, things change. Don’t give in right away… Say you are approached with an opportunity to do something, the payoff is little or none but you are so excited to have an opportunity that you jump on it. We have all done it, but I encourage you to really think about your options in these situations.

1. Think how this may effect your image?
2. Is it something you would feel comfortable talking about to friends and family?
3. Are you compromising your ethics for a buck?

All these are questions you should think about as you grow and continue to experiment. Be strong and have the balls to experiment, but always do your due diligence first. Patience.

SMS Desk

mobile ninja

So a while back when twitter was starting to gain some traction I made a few twitter templates to give away and had some nice responses. I was looking at the old templates and I decided to make a few more since the old post still seems to pull in downloads here and there. This time I took a mobile phone angle since a lot is being done with twitter and mobiles. I hope you like them! Leave a comment if you have an idea of others you may want to see or just to say thanks!

or better yet:

follow me on twitter! @posna

download the full photoshop psd template files below

SMS Desk (180) Mobile Ninja (174)

credit: woothemes icons

Leave the Ego at the Door!

People talk about egos and business all the time and there are many different angles to the subject. There are times where having an ego may help you or get you ahead in business but for the most part they seem to do more damage than good.

I can really only think of one main example where an ego can play to your advantage in business and that is when the other party you are dealing with is unsophisticated or intimated in said area of expertise. I have seen it work on a small level of play, but when it comes to playing with the big boys you better drop that ego crap at the door.

There are a few main areas I have worked on in the past to tame my ego. I mean, you don’t have to get rid of your ego altogether, you just have to learn how to tame it; like the beast it is!

Confidence vs. Cockiness

The long battle of confidence and cockiness! How do you walk the fine line? Well, I don’t really have a strategy on this. It’s just one of those things you learn by doing (a/k/a messing up). The only way to really know if you’re being cocky is usually when it’s too late, but this is when you learn your boundaries. In other words, it will help you find that fine line that you can dance.

You want to learn how to be funny and serious when needed. Just practice, practice, practice! This is one of those things that have to be felt out through experience. No one can teach you how to master your personality; you must feel it out and learn this part for yourself. Take risks and learn from your mistakes.

Body Language

Unlike the previous section, Body language is something you can learn from others and start improving immediately. Most communication is expressed through our bodies and understanding the basics of body language will help you make great strides in face to face situations.

Here is a short list of body language tips that can be used in any situation…keep in mind, these are basics.

1. When someone new approaches your meeting table or enters a room – Stand up
2. When sitting in a chair – Sit up straight and don’t lean back or lounge
3. Slow the tempo of your voice
4. Look into people’s eyes when they are speaking
5. Look into people’s eyes when you are talking
6. Show a slight head nod here and there when you understand what someone is talking about
7. Do not show emotion to harsh or unwanted comments
8. Do not show emotion to positive and wanted comments
9. Do not touch or pick your face (very common)
10. Concentrate on keeping your hands in one place to avoid fidgeting

Diarrhea of the Mouth

You may have heard this term before and I feel it fits perfectly into managing your ego. See there are times that we just like to hear ourselves speak, like we enjoy showing everyone how smart we are. The problem with this is that we usually go overboard and say too much.

The more you talk, the more you have a chance to screw things up. One of my early mentors, my uncle, conveyed this to me when I was mentoring with him for a bit. You never know when you may bring something up in passing that will offend someone.

He used this example:

Say your deal is just about wrapped up on the verbal side. You are feeling comfortable and decide to say something about how your favorite “sports” team is the best and you are looking forward to the game. Now what happens if the people on the other end of the table hate your team? You have created this unnecessary uncomfortable situation that has nothing to do with your meeting! People loose deals like this all the time and then wonder, what went wrong?

Lesson:

Keep your mouth shut! Talk about things that pertain to the business at hand and that’s it! If they want to bring something up; fine…that’s different. Remember, less is more

Summary

Your ego is an important yet at times wild characteristic trait; if you learn how to tame and harness the emotions behind it, you may just be on your way to greatness!

Now that's Customer Service!

One of the many people I look up to just proves himself to me again. This guy is just plain cool. If you remeber his daredevil reality show from a few years ago you know what I mean. I even remeber flying Virign and talking to the flight attendants about him.

They spotted somone sitting in the back seat of coach by the engines and after a few passes they realized it was the one and only Mr. Branson. Turns out he was riding in the back to see what it was like for someone to have the worst possible seat. That’s quality assurance if you ask me! Not to mention that afterwards he flew the staff out to his private island for a quick get away.

Cheers to you Richard Branson!

(pic source)

Phone-to-Phone Combat

Due to the virtual world conference calls are becoming increasingly popular and are frequently where you make your first impression in business. Unlike meetings, there are a different rules to play by in order to have things run smoothly and the margin for error is higher.

I love relating things back to simple concepts to demonstrate strategies; since business is a lot like playing a game, it’s only fitting that I came up with a 4-point strategy that can help you with your conference calls…

Know the Players

You have to know who you’re talking to and what “they do” and their “role” as well. Look them up on the Internet beforehand, google them (I should not even have to say that!). As long as you find the right people this is usually easy to accomplish, but this concept is double edged. Even more importantly to knowing the players on the other team is knowing the players on your team.

Now you are probably saying, I know the players on my team and hopefully you do! But how well do you know them in a conference call setting? Meetings are different; we use eye contact, hand signals, verbal cues and even under the table leg taps sometimes. All these tactics are used to keep control of the meeting and call the plays. When you are on the phone in a group setting you loose all of these indication opportunities.

Call the Plays

So how do you call the plays? You have to go more on instinct here and a lot of that comes down to the first point…Knowing “Your” Players. Learn to focus and intervene only on your specialties and let your peers do the same for theirs. If you have built a good team and you work well together, this will eventually come together with time.

The second part of calling the plays comes down to knowing when to change direction. Conference calls work when only one person speaks at a time and the others pretty much wait their turn. The problem with this is that you can’t always tell if someone has a point or is headed for a tangent/brain fart. Calls can get boring and if you don’t pay attention you can miss these redirection opportunities and may end up on something sour that is really unimportant, but causes friction none the less. Have a plan and keep the call on track!

Watch for the Blitz

There is an art to discussion and we all know some people are smoother than others. In business there tends to be a lot of smooth people on the phone and this results in possible “trick questions”. What I mean by this is you may get asked a question just because they want to hear the way “you” answer it, not really what the actual answer is. Reason being is that they want to know something else but don’t want to ask you it directly. I call these blitz questions, sometimes you can see them and call a new play and sometimes you can’t and may get sacked!

Get to the Playoffs

Keep moving forward no matter how good or bad you think the call went. The whole point of these calls is to get to a real meeting that eventually results in some sort of deal. This may not apply to all calls since conference calls are done everyday for many different reasons, but here we are talking about the initial calls for obtaining business.

Try to identify and push towards the next step. Listen to what the other party thinks the next step is; maybe it’s better than yours! Stay open towards the end of the call and let people add their concluding thoughts before you push to hard in one direction.

Practice, Review and Learn

In conclusion, you need practice by being a part more and more conference calls, review the calls and then learn from your mistakes. My peers and I have a system for this; we do post conference call “conference calls”. Usually immediately after the call we all jump back on another call with just ourselves and discuss the previous call.  In the beginning you may want to even record the call so you can listen to it at a later time and hear where you possibly went wrong or missed and opportunity. I use a great service called freeconferencecall.com, it’s free and allows you to record conversations and then have them emailed to you in an mp3, pretty nifty.

Conference Calls about Conference Calls!?!?! Who said business is always exciting?