About Tavio Hobson
Tavio Hobson is a seasoned business professional who has led a long, successful career in business, sales, marketing, and entrepreneurship. Throughout the course of his career, Tavio has worked to refine these core competencies and establish himself as a trusted and capable leader.
Recently, exploring the diverse business world, Tavio Hobson has acquired a new-found interest in real estate development. In 2006, Tavio teamed up with a long-time friend and business partner to begin investing in real estate projects throughout Seattle. The duo has worked to develop multi-family homes, townhomes, and apartment buildings throughout the city.
He has spent the past decade learning more about the space and uncovering new ways that he can add value to the team and the projects that they manage. Real estate is an industry where operational efficiency can be a huge advantage for developers, and Tavio prides himself on putting together business models and raising funds in a highly effective manner.
Real estate development is an industry with many diverse components dealing with buying, selling, and renovating homes, land, and other properties. Typically, a real estate developer works from beginning to end on the entire process of a real estate project, orchestrating each step. Because there is so much involved in real estate development, developers must be detail oriented with great communication skills and leadership experience. While developers often take the biggest risks in creating, renovating, and developing real estate, they are also most likely to receive the greatest rewards for their efforts.
Tavio Hobson also works for Los Angeles, CA based company, Dynasty Sports Management. Tavio is the Vice President of Basketball and Business development. His career combines his passions for business, sports and community outreach. He enjoys helping young athletes find their place in professional sports while still also satisfying his entrepreneurial spirit with business endeavors.
With a strong background in sales, marketing, and business, Tavio Hobson is excited to pursue new projects in real estate development and see where these experiences will lead him next in his career. As an entrepreneur and start-up consultant, Tavio encourages others to continuously work to define and refine their core competencies and absorb as much knowledge from others as possible.
Tavio Hobson received his Bachelor of Arts Degree from Sacred Heart University. He later went on to attend the Georgetown McDonough School of Business where he earned his Executive Masters in Leadership. In 2015, Tavio was selected as one of 34 of more than 700 nominations to represent the United States across the sectors of business, government, and civil society as a Marshall Memorial Fellow. The Marshall Memorial Fellowship is German Marshall Fund’s flagship leadership development program. Created in 1982 to introduce a new generation of leaders from United States to Europe.
Outside of his professional endeavors, Tavio is an energized and active member of the community. Hobson is passionate about education, leadership, and supporting kids in the local community. Some of the organizations Tavio Hobson has worked with over the years include The Breakfast Group, Los Angeles Southwest College Foundation, and Watts/Willowbrook Boys and Girls Club.
Company culture became a buzzword at the turn of the century as millennials shifted the corporate agenda as they entered the workforce. Whereas before work was work, now we see it as more of a transformative process, one that should help us engage, foster growth and expand on our passions. The new workforce wants to find a work-life balance. They value flexible schedules and working environments. These factors and many others have come to shape how we define our company culture. More than anything though, company culture has become a major factor for potential employees in their job search.
Start the Conversation
Start with how you picture your perfect office environment. As a business owner, it can be hard to acknowledge that things need to change. An infrastructure that worked when you were first starting out might not be the most suitable option now. Accept that there’s always room to grow and building a strong company culture is a great way to open the door for feedback. Survey clients, coworkers and potential new hires. Create an environment where feedback is encouraged and improvement is celebrated. Find out what is most important to people enjoying their work. Happy workers make a positive work environment. As Lara Morrow says, “It’s very important that company leadership doesn’t just decide strategic plans and let them rain down from on high. It costs $0 to ask your employees what kind of programs and work environment are best for them.”
Culture isn’t the Equivalent of Cost
With pet friendly workplaces and Amazon headquarters that look and sound more like gated communities, people often assume that building a company culture is going to be expensive. In reality, creating a strong intentional culture is an investment, but the potential opportunity cost of a poorly structured, unintentional culture, rooting itself in your company is far greater. If you want to recruit and retain talent, don’t overlook this step because you fear it’s more of an investment than it’s actually worth. As highlight by Arshad Chowdhury, “Many culture-changing initiatives have no direct costs to the company. In fact, when properly executed, culture-improving initiatives can lower company costs in both the short and long term.”
All Eyes on You
If your company is in the midst of a culture overhaul, odds are all eyes are on you even if you don’t realize it. Leading by example spills over into every aspect of business. As Jeffrey Hayzlett explains, “Every leader needs to internally and externally reflect the company’s values and be its strongest advocates. He or she shouldn’t recite the mission statement as a solution to everything, but should exemplify what the company stands for.” Make sure your managers and leaders believe in these values. It shouldn’t feel like a forced value system. You want a team that lives by these values to create a sincere brand.
Treat Others How They Want To Be Treated
A variation of the golden rule brings to light a common misstep. How you want to be treated is not necessarily how others want to be treated. Start with what motivates them. In the end, if you want to build a positive environment, remember that positivity is infectious. If you expect your employees to fulfill the written mission and vision of the company, first ensure they feel valued and respected.
I am not a realtor or broker nor do I pretend to be, but I am surprised by how many people assume that you need to have one of those titles to dip your feet into the real estate investing pool. Real Estate is a smart investment. I’m not the first person to say this, and I am sure I won’t be the last. Having said that, if you are new to it like if you were new to any venture, you need to do a bit of research. I think the biggest barrier for first-time investors becomes not having a proper understanding of the language and terms used surrounding investment properties, so I hope to provide a bit of clarity.
As Ken Horst explains, PITI or the Principal, Interest, property Taxes and Insurance “is basically the “bottom line” or the minimum you need to calculate when thinking about purchasing an investment property with a loan.” These components essentially act as the parts of a mortgage. By calculating your PITI, it helps to generate a rough estimate of how much capital you need to afford the property. Like most investment calculations, there are a few variations. Some mortgage programs don’t include interest or taxes. Make sure you know what your lender stands on this, so payments aren’t mishandled.
Real Estate Owned or REO predominantly refers to bank-owned foreclosure properties. Knowing whether a bank or financial institution owns a potential investment is important because there’s no emotional attachment if the institution has even seen the property and as a result, the negotiation typically plays out a bit differently. That being said, there are some obvious pros to this approach. As explained on RealtyShares, “The lender may be highly motivated to sell the property. If that’s the case, you would have a bargaining chip of sorts when it comes to negotiating things like the final purchase price and closing costs.” The lack of emotional attachment helps you avoid any emotionally driven negotiations.
NOI & DCR
NOI stands for Net Operating Income. While cash flow accounts for the general back and forth that is invested into maintaining a viable operation or the profit brought in as a result of the said operation, NOI accounts for the profit after operational costs. After subtracting all the monthly expenses associated with a rental operation, the Net Operating Income total remains. As Matt Faircloth says, “For larger deals, you want to see a NOI that is between 40 and 50% of the Net Rental Income.” Then your rental profits can account for more of the initial investment while also covering the payments associated with PITI. NOI leads us to the next term.
DCR or Debt Coverage Ratio confirms whether or not the NOI brings in enough profit to cover the debt. As James Kobzeff explains, “DCR is a ratio that expresses the number of times annual net operating income exceeds debt service (i.e., total loan payment, including both principal and interest).” Lenders use these two numbers when developing loans for income-generating property investments.
As we enter a new year, it’s important to keep in mind the takeaways from the prior year, and 2017 was chalked full of business lessons and warning signs.
The gender gap is no joke.
The Women’s March kicked things off, reminding the United States and the world, that they equate to roughly half the world’s population and shouldn’t be taken lightly. Sexism remains prominent in most industries, but 2017 met the divide head-on with some much-needed publicity. In fact, two female entrepreneurs made headlines when they created a fake male cofounder to get respect and acknowledgment from their peers after “A web developer they brought on to help build the site tried to stealthily delete everything after [cofounder] Gazin declined to go on a date with him,” along with a few other gender-based issues. Their fake male cofounder and the fact that they felt the need to do so, is a symptom of a larger problem. In the coming year, expect employers to raise their level of awareness and action on this issue.
If you don’t try to understand millennials, you don’t understand business.
With roughly 92 million millennials, it is the largest generation in United States history. Putting it bluntly, businesses can’t afford to ignore this age group. Growing up surrounded by technology, it shaped how they shop, which changed how many corporations engage with consumers and share their products. Given this generations’ demand for corporate social responsibility, “The leaders behind any brand now have a choice: adopt corporate philanthropy as an important part of their brand’s philosophy and business strategy, or get blown away by competitors who were quicker to see ‘the shape of things to come.’” Expect more emphasis on how businesses give back no matter the size, millennial targeted marketing tactics, and more technology integration to reach this sizable consumer bracket.
Better safe than sorry.
2017 was the year of hostile software. While malware cyber attacks like ransomware are nothing new, the number of cases have increased astronomically. As of May Newsweek was already reporting a 250 percent rise in attacks in 2017. As a result, cybersecurity became top of mind for big business and government alike. With 72 percent of infected companies losing access to their data for two or more days on average, many companies are making cyber security a top priority.
Not to mention, cloud-based software presented its own host of problems. As Gene Marks says, “More and more of our business applications are hosted in the cloud, so more and more of us are exposed to the loss of data by those giant cloud-based providers we oftentimes trust blindly.” While this new tech offers flexibility, too many businesses forget that it’s still not a fail-safe place for storing files.
Shock value is valued.
In the era of “no new ideas,” creativity is seriously valued in every industry. Augmented and virtual reality are commonplace. A robot gained citizenship. There’s a company entirely devoted to sending dying and rotting flowers to unloved one. In short, if you don’t have a stand out idea and more than a little finesse it’s hard to make your mark.