The end of LCAP

[GammaZeta]

I just also wanted to bring up an old point of mine, why do we INSIST on hiring for positions in our fraternity EXCLUSIVELY to brothers of our fraternity.

Why the hell were the leaders of LCAP put into the positions in the FIRST place?

No property experience.

No real estate experience.

No construction experience.

No legal experience.

No landlord experience.

Would you hand over the keys to your BRAND NEW, $120,000 Porsche to a 15 year old student driver? NO!

Then why the HELL would we hand over management to someone who had NO EXPERIENCE managing a national property portfolio?

Plain and simple, we don't always NEED to hire within the fraternity for eveyr position, ESPECIALLY IF THEY ARE NOT QUALIFIED!

If we simply would have hired a national property management firm, with open books, we would not be in this cluster fuck.

[boz130]

Since I started my alumni communications firm in '01, I've been licensed by a number of GLOs (LCA & 14 others, both NIC & NPC). Just for the sake of research, tonight I went through each of their web sites to see how many offer housing programs like LCAP. Here's the breakdown (keep in mind that I'm not a financial whiz):

NIC groups - 3 yes, 9 no (I marked LCA as a "no")

NPC groups - 1 yes, 2 no

On a percentage basis, this extrapolates out to around only 25% of all GLOs. That tells me that this sort of operation's not terribly popular. This also begs the question: what are the 4 GLOs w/housing programs doing that the others aren't?

In ZAX,
BF

[lenoxxx]

Im no financial real estate whiz myself, however to answer your question Bill- some of the things done at Shippensburg made absolutely no sense at all. At one point in 2004 the local alumni asked for a change in leasing and billing that would have taken a slight change in the lease and wording that might have taken 30 minutes to change and review that would have lowered the monthly billing, but made it a 12 month lease as opposed toa 9 month lease that would have made the renters happier, closed a loophole of summer living (all the kids lived there for free anyway) and made the house more rentable- AND WOULD HAVE INCREASED REVENUE 15-20%.

We were told that this was too much work to do, and not how they ran things.

Also leases were never sent to us until december, despite asking many times to up this into august so we could rent and lease more effectively-

We were told that this was too much work to do, and not how they ran things.

At one point a student failed out, and called LCAP to be let out of his responsibilities- and was told "ok", until the local alumni called and reamed out the staff member who approved this, and the offer was revoked.

We were told this was a misunderstanding.

This all goes beyond not having massive real estate knowledge to having zero common sense.

In fact we were also told that the Shippensburg house was actually one of the few MAKING MONEY for LCAP. And now the house is for sale, with no buyers, and get this.... no renters for next year. That's right no renters for next year. After the surprise "we're selling" announcement we told LCAP you would not be able to get renters if we told the kids to move out in NOV of 2008. Several of us got an email in MAY of 2008 asking for help in contacting the chapter to look for 8-10 renters?!?

So now the alumni investment is totally gone, the house will probably sit empty and vandalized in the next few months, and will generate no income and be sold for next to nothing.

Nice