Shooting the War

Anyone who has spent much time looking in junk shops will know that sooner or later a particular decision will have to be made. Is one to insist on buying only the perfect piece, the flawless jewel, which has come down to our time unscathed by time—that enemy of both man and his handiwork? Or is one to be content with something less than perfection, that which is flawed—though not irreparably?
If you take the first course and happen to have a taste for the best in furniture, pictures, pottery, glass, silver, or whatever, you will nowadays need a very long purse indeed. The fine things of the seventeenth and eighteenth centuries have soared in price to levels which would not have been thought possible even only five years ago. In the meantime collectors have turned their attention to the once despised nineteenth century; and Victorians is now as eagerly accepted for sale by great auctioneers like Sotheby’s and Christie’s as anything of earlier date.
Personally I have never felt especially impressed by ‘condition’ for its own sake. If a piece is what the trade calls ‘right’—that is to say genuine of its own kind, if whatever imperfections it may have do not seriously detract from enjoyment of it, I do not see why it should not take its place in a collection. After all, for a piece of china or furniture to have survived for two hundred, a hundred, or even fifty years without acquiring some sort of blemish, or show some signs of age, is a quite remarkable thing: it has certainly not happened to me. One suspects too, that those who seek perfection of this kind may be interested not so much in the appreciation of a particular objet d’art, as in appreciation of their investment—and I have always thought that there were many pitfalls in that kind of collecting.
A few years ago there came up for sale a famous collection of teapots, representative of the finest work of all the famous English factories. The reverend gentleman who put it together, however, could not possibly have afforded to do so had he not been content to accept the odd chip, crack or restored part. But these imperfections in no way spoilt the beauty and interest of the collection, which, though unique of its kind, had much instructive value for the general collector.
For me, therefore, if a piece has been skilfully and sympathetically repaired, with awareness of period and of the peculiar nuances of the original work, there would always be a place for it on my shelves or walls. And if you tell me that a repair or a repainting can be detected by ultraviolet radiation, I reply that one does not normally look at works of art through apparatus of that kind.
Before they buy, however, I think that collectors should inform themselves as to what can or cannot be done with anything which has been damaged or broken. Some things are really beyond all hope: they could never be restored in such a way as to give one the same kind of xsthetic appeal as the original, and the place for it—if there is a place for it—may well be in a museum. But there are many things which can be rescued, and ought to be before they deteriorate any further.
This, I think, is the value of a book like this. In showing how repairs can be done it tells one what repairs can be done, whether we do them ourselves with loving care or whether we leave them to the expert. There are not so many fine works of art about that we can afford to let them disappear without an effort of some sort.

What is junk? Something which its last owner discarded as worthless? Any old piece of furniture, china, metalwork, any old picture, print or scrap which has no intrinsic value? These definitions have no meaning today when the trade in ‘junk’ has reached international proportions and when some of the prices paid for hideous bits of bric-a-brac put them far beyond the reach of most amateur collectors. Once, a poke around a second-hand shop produced all kinds of unusual and interesting things for shillings and even for pennies. Pounds didn’t enter into it. Once you could go to auction sales and come away with car loads of discarded ‘rubbish’ which no one else at the sale wanted and for which the dealers, least of all the dealers, never bothered to bid.
Not any more. At every sale, in every junkshop, there lurks the man or woman with that indefinable look, that odd searching expression which proclaims that he or she is
‘in the trade’ and wi buy akinds of unlikely things just to turn them into other unlikely things or to restore them
and sell them as totally genuine survivals from the past, and as always, when the dealers get interested the amateurs have to get up very early in the morning!
The reasons why we have come to value these things are strange, but fairly simple. As we invent new designs for furniture, pots and pans, clothes etc. and enjoy new styles and fashions, yesterday’s style and the day before yesterday’s become hideous to us. How ugly now seems the clothes and furniture, the carpets and curtains, the chairs and the pictures of the thirties. And how ugly, in the thirties, seemed the things we designed in the twenties. Yet now, in the sixties, the things of the twenties become attractive again, some of them, and the Victorian excesses which we hated in the thirties, positively delight us now. Why does this happen? Is it because our modem designs get more and more simple and functional, with fewer curves and fussy bits, more and more straight lines and flat surfaces, more and more synthetic finishes, and less and less craftsmanship or hand work of any kind is done. The horrors of photographic wood veneers, which only need a wipe with a damp cloth, the plastic ‘working surfaces which every knife marks, are preferred to beautiful natural veneers which need a bit of polishing to keep them beautiful, and to scrubbed wood which needs a bit of elbow grease to keep it clean. So I believe some of us are coming to value the things which man has made with his hands out of natural materials as an antidote to our machine-turned, moulded, plastic world. And I don’t believe that the plastic rubbish of today will ever become the treasured junk of tomorrow or the day after tomorrow. We have gone right over the top, and many people are determined to salve what is left of the artifacts of our grandfathers. The very ugliness of some of the things has the appeal of individuality at the least. It may be claimed that a lot of Victorian and Edwardian and even Georgian junk was mass produced in the sense that numbers of copies of the same objects were made, and that any casting or turning or moulding techniques that were available were fully used. Nevertheless the materials themselves ensured that hand finishing was almost always necessary, and the machines were worked by men and not by other macliiiies. Designs were made by the minds of men and not by computers.
Ingenious people go to great lengths to make modem objects out of old junk, sometimes by taking things back to an even more original condition than they ever were before, when they were first made. I’m thinking of the vogue for stripping down wooden objects and oiling or waxing so that the grain alone decorates them; objects that were always stained or painted when they were first produced. It is only quite recently that we have realised that natural pine wood call be just as beautiful as natural walnut, or oak or mahogany. Our immediate forefathers thought that pine in its natural state was very ugly and only fit to be covered up. Anyone who had ever visited all alpine country knew differently, but nevertheless we remained very traditional. Taking the subject a stage further, there was a time when natural oak furniture was looked upon as being purely rural and only used by the yokels in the kitchen, and nothing could be elegant but inlaid mahogany or veneer or ormolu. All kinds of objects get turned into lamps nowadays, and old picture frames make fine mirrors and trays. Pianos turn into cocktail cabinets—there is a use for everything and anything. Is this because the hand craftsmanship, or even the time, that it takes to make these things cannot be found these days except at great expense? Labour was cheap when the junk was being made, and now we are taking advantage, years after the makers are dead and gone, of their sweated labour, their underpaid craftsmanship, which are just not available any more.
Lastly, as I discovered when I became involved in the art of restoring old cottages for modern living, you and I, amateurs in the sense that our jobs probably have nothing whatsoever to do with restoring things, get a great kick, an artistic satisfaction, out of mending something that seemed broken beyond repair, out of recreating something useful or decorative or interesting from something old, ugly and dull. The artist, the creator in all of us, can thus find expression even when we lack original talent. It may be in something as elemental as getting a good polish on a piece of filthy old brass.
Most of us are magpies at heart, and the collecting instinct which stimulates toddlers to collect little piles of stones, shells and sticks and string, the child to collect stamps or dolls and the teenager to collect gramophone records, stimulates the adult to collect whatever he or she can afford and finds pleasing. I know a man whose large Edwardian house (and lie needs one) is full of musical boxes, everything from tiny little singing birds to huge great mahogany things which come to coniplicated life and give out fantastic sounds in response to the necessary stimuli. Another man will collect powder flasks, buttons or little boxes, or flatirons, or porcelain. Most collectors begin by acquiring a piece of junk almost accidentally, perhaps by inheritance, or bought in with an odd lot, or just because it caught the eye, and that is the nucleus of a collection.
People can be divided into two groups; those who will take everything to the ‘expert’ to be restored or cleaned, and those who will go to great lengths to do the work themselves. I think that the true junk collector comes into the second category. The greater part of the fun for him is in the restoring—in being able to say, modestly: ‘yes, I mended that chair—it had three broken legs and six coats of paint, but the waxed natural wood does look rather nice, doesn’t it?’
There are limitations, of course, oil what can be done; limitations imposed by the necessity for expensive tools or materials, or processes which need equipment not usually found in even a well-equipped workshop (electro-plating tanks for instance). The one limitation that never seems to apply is that of knowledge, either of techniques or of materials.
Here another distinction has to be made. Properly speaking, restoration implies the recreating of an object so that it is exactly as it was when it was made. In the wider sense great arguments go on between the people and societies interested in the preservation of ancient things, and those who wish to restore them for actual use. To the purist, for instance, it is wrong when restoring a cottage to make structural alterations which are necessary to make it habitable in modern terms. To the purist it is wrong to restore an old piece of furniture by altering its original purpose, terrible to cut a whatnot in half and make two tables from it, even though it was useless as a whatnot. If a thing has intrinsic beauty then surely it is wrong to alter it out of recognition. There is a safeguard here in the sense that if you pay a lot of money for an antique you are unlikely to chop it about. Oil die other hand you might undervalue some inherited piece and destroy it by altering it.
How far is one justified in building up missing pieces of objectswith modern epoxy resins instead of restoring the missing part as nearly as possible with its original material? Museums do it all the time and are prepared to rebuild and remake shamelessly with modern materials to restore objects, although they make no secret of this. It is of course inipossible to lay down rules for these things. In any case the antique and jtuik trades are so full of fakes, composite objects, and reproductions with never any guarantee of authenticity, that it doesn’t matter a great deal, I suppose, how authentic your restoration work on junk is. The only thing that matters, it seems to me, is that the reproduction or reconstruction or restoration produces something which as nearly resembles the original as one’s capacities and the materials available allow. Never try to pass off any kind of restoration as original.
While in this book I have tried to include as many hints and ideas as possible, I have slued away from `tricks of the trade’. There are too many tricksters about
already.
Of course, with many perishable objects such as prints, preservation and protection against the ravages of the future is as important as restoration, and there seems to me to be no harm in using the most modem methods and materials available.
One or two general points must be made. First, that there is no substitute, really, for elbow grease, and this is in many cases the restorer’s most useful material, substance or technique! It may be easy to slosh acids and solvents around, but the damage they do may well outweigh the time they save. Second, many chemicals used are poisonous or corrosive, and the greatest care must be taken when using them to wear protective clothing, gloves etc. Such materials should be confined to the workshop and never used in the kitchen. All bottles and jars must be carefully labelled, and poisons should be kept under lock and key. A fire extinguisher must be part of every workshop’s equipment and a bucket of sand for extra fire protection isn’t out of place. Plenty of fresh water should be available, and a sink is almost essential. Electrical equipment must be used properly and wall plugs etc. should be professionally installed and maintained. Never use electric tools with two-pin plugs. Use three-pin plugs which include an earth. Never unplug electrical equipment without first switching off the main. Never use electrical equipment with wet or even damp hands.
Lastly, I must point out that although all the recipes and suggestions in this book are tried and tested, the success of each and every one depends to some extent upon the user. It is like cooking. Give two people the same recipe book and materials and ask them to cook the same dish and the results will invariably differ.
Because of the enormous variety of materials involved, and because it is not possible for the writer to know exactly what it is that the reader is intending to treat, there can be no absolute certainty that methods and treatments will work exactly as planned. The contents of this book are meant as a guide, to be intelligently used. I have left out some techniques that call for the use of highly toxic chemicals (with the exception of the bleaching box), and I have left out or only briefly described techniques which do require practical instruction, althoughi the borderline between skills which can be self-taught and developed by practice and those which have to be imparted on the spot by an expert, is impossible to define. It depends so much on the capacity and talent of the individual.
But it is junk you will be handling; it won’t be world-shattering if you do make mistakes. ‘There is so much pleasure in doing a good job that it is always worth a try. If you fail, well, that is too bad. If you succeed, that is wonderful, and oh, so satisfying.
Thanks. To write a book of this kind without picking other people’s brains is impossible, for one cannot bc.ui expert on everything; in fact the junk restorer must be a jack of all trades. Thanks are due, therefore, to all those who let me ask them questions about their working methods, and who gave me so much useful information. Thanks also to Ginette Leach whose help with the making and checking of the book was invaluable.
Using the book. The text is not divided into chapters, but set out with subjects in alphabetical order. I suggest that you look first in the indices for references to any specific subject, or material. There are two indices: the first refers specifically to materials and tools, and includes page references and names of suppliers and sources of the materials, so that in effect it replaces appendices; the second refers to the subject headings and methods, and is intended to lead you directly to the subject itself where you can find full details on cleaning and restoration.
Where various things come into the same general category they have been grouped together in that category rather than scattered through the book in alphabetical order. For instance the section headed Stone includes subsections of various kinds of stone. The sections on China, Furniture, and Metal are also comprehensive. This seems to me to be a more convenient way of arranging things than exact alphabetical order would have been.

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When the revolver, or pistol with a revolving chamber, was first adopted in the British Army, the principle was by no means a new one ash gateleg extenstion table. As far back as the middle of the seventeenth century John Dafte of London had made a revolver-carbine with a cylinder, turned by hand, containing six chambers johnson “antique card table”. Powder and ball were inserted into the front of each chamber, and a spring catch on the barrel engaged in slots to hold chambers in turn in the firing position bookcase islamic style.dwg. Each chamber had a 17th century dutch small cupboard value. separate flash-pan, with a sliding pan cover which was opened by a link attached to the cock, as the latter struck the steel 18th century chambersticks. The lock was of the snaphaunce variety with a separate steel 19th century dressers.
Nevertheless) after a certain initial popularity in the seventeenth century, little more was heard of revolver-pistols or carbines until the appearance on the gunmaking stage of Elisha Hayden Collier edwardian c19th construction buildings. Collier was an American gunsmith of Boston, Massachusetts antique english knights dining tables. In about 1810 he succeeded in making a practical pistol with a revolving cylinder, which was turned by hand china made in czechoslovakia. He was not, of course, the first to do this, but the Collier mechanism was infinitely superior to anything which had preceded it coop dresser. The priming mechanism was ingeniou§ meissen harlequin kandler. There was only one flash-pan, instead of one to each chamber, and this was recharged automatically from a magazine after each shot walnut versus maghony drop leaf table. The magazine was fitted on the flash-pan cover and incorporated a ratchet and pawl mechanism which was actuated by the closing of the pan art deco furniture  antique shop california. Collier used a novel and ingenious system to align the chambers with the bore of the barrel antique furniture 1800. The front of each chamber was countersunk and fitted over a cone on the rear of the barrel pictures of antique spider leg tables. A spring held the cylinder in position, and to move the cylinder round, it was pressed back against the spring to free the chamber which had been in the firing position from its cone seating century hepplewhite walnut card table. During the actual moment of firing the pressure of the spring was augmented by a steel wedge operated by the movement of the cock antique small oval drop leaf table. This mechanism produced a very close and firm union between barrel and cylinder antique tudor furniture. All Collier revolver weapons operated on the same principle carved top gateleg coffee table.
The Collier revolvers were extremely good, but, unfortunately, very expensive to manufacture czechoslovakian lusterware. Collier was unable to interest either American private capital or the United States Government, and, accordingly, he left for England in 1811 robert jupe table. There he established a shop at 45 The Strand, London, and was granted a Royal Patent,
In England Collier seems to have made a number of revolving arms for the forces of the East India Company, including both pistols and carbines “english cabinet”  dining  antique  amsterdam. The pistol was 14 inches long, with octagonal smooth-bore barrel, 61 inches in length and with a calibre of ‘47 inch trestle table lyre base. In 1852 he returned to the United States and reopened his old gunshop in Boston francois linke.
During the first decade of the nineteenth century Samuel Colt was born in Hartford, Connecticut, in the United States finest candelabras. The son of a merchant, he was destined to become the most famous maker of revolving pistols: so much so that the terms revolver and Colt were at one time almost synonymous art deco antique dresser. Samuel Colt, however, does not seem to have had any ambitions to become a gunsmith in his earlier days anantique pembroke tables with two drawers. Indeed, at a comparatively youthful age he announced his intention of becoming a lecturer revolving bookcase drum table. Even in the United States lecturing cannot have offered a promising career, and one does not imagine that Colt’s parents greeted the idea with any enthusiasm regency ironstone marks blue. Nevertheless, he chose the somewhat original subject of laughing gas, and whilst still below the age of twenty gave platform demonstrations of his subject art deco furniture dining table  copy of the duke. He travelled under the name of Dr painted antique wine cooler. Coult of New York, London and Calcutta, and his lectures really did take him to these places antique oval dutch table. Whilst in Calcutta, in fact, he took notes on a Collier arm wooden arm chair pedestal castor antique oak. This was probably one of the revolvers which had been made by Collier for the East India Company pine “coaching table”.
It may have been this Collier weapon which first really aroused Colt’s interest in firearms stone china george jones stoke on trent. At any rate he took careful note of its construction and complex mechanism indian interior low seating drawing room. During the voyage back to America Colt whittled away at a piece of wood, shaping the design of a model of a revolver which should be based on Collier’s system but have a much simpler mechanism antique table top wooden book stand.
After his return to the United States, Colt took his wooden model to a pattern-maker of Hartford named Anton Chase, From this Chase made Colt’s first revolver english antique consoles. Whilst in many respects a great advance on the Collier arms, the first Colts suffered from a faulty cylinder design which could result in the explosion of one charge igniting all the others antique dutch rococo serpentine pine chest. In front of the cylinder was a plate which was intended to prevent the balls rolling out of the chambers scandinavian aesthetic. This plate, however, had the disadvantage that a lateral flame leak from the firing chamber was liable to be deflected by it to another chamber, resulting in a chain of explosions in all the remaining chambers in the cylinder french gesso painted 18th century console. Apart from the damage to the weapon, the random discharge of bullets was, at the least, disconcerting antique carved trestle table.
Colt’s laughing-gas show was apparently still a very profitable source of income; for he used it now to finance his revolver experiments german buffet furniture. Indirectly, too, the laughing gas was responsible for Colt revolvers being ultimately adopted by the United States Army fake ironstone pottery. Colt was booked to give his lectures at the Baltimore Museum, and there he met and interested Joseph Walker the director tilt top bird cage table 1740’s. Walker had a relation of the same name who was a captain in the Army; and some time later it was his influence which led the military authorities to accept Colt’s invention art deco sideboard legs.
Colt’s first essay at production seems to have been in conjunction with a gunsmith named Pearson, who was to receive a fixed salary in return for paying the rental of a shop and forge antique ceramic wine coolers. The combination resulted in a small number of revolving pistols and rifles 12 arts and crafts dining chairs. Colt’s income, however, was not yet on a very sound basis, and the partnership broke up somewhat abruptly owing to Pearson’s salary being chronically some months in arrears arts and crafts furniture, antique collectors.
The flame leak trouble in Colt’s arms was finally remedied by removing the frontal plate, and providing a loading lever which drove a slightly oversize ball into the chamber reproduction quality 19th century louis xv fauteuil (armchair) with a rococo hand-carved, floral-scrolled, giltwood frame,. This both prevented the nuisance of the bullet rolling out accidentally and sealed the charge biedermeier gothic commode.
Colt obtained patents in Great Britain, France and the United States in 1835, and his fortunes began to improve hepplewhite revival foldover dining table. The Patent Arms Manufacturing Company of Paterson, New Jersey, set up a plant for the production of Colt rifles and revolvers barker brothers furniture. The revolvers were turned out in a number of different models vienna-style trembleuse. There were three different sizes of frame, and a variety of different barrel lengths and calibres antique french ormulu furniture. In the smallest category the barrels ranged from 21 inches to 4J inches in length, and there were calibres of -28, -31 and ‘34 inches drop leaf table stable base. The next size frame was intended to be carried on a belt, and embraced barrels of from 4 to 6 inches and calibres Of -31 and ‘34 parts of chambersticks. The largest size was a holster weapon with barrels ranging from 4 to 12 inches, all with a calibre of ‘36 etling france 110 “opalescent glass”.
In 1840 the Patent Arms Company failed financially, and five years later the Colt plant was forced to close antique oak drop leaf table with casters. Samuel Colt art deco ceramics. was now back on the rocks with no establishment, no machinery and precious antique pottery matt green tea decanter. little money opalescent etched glass. At this juncture, however, fortune presented Samuel Colt with a war; for in 1846 hostilities broke out between the United States and Mexico sedish design daybed. Ten years previously Captain Walker had used Colt revolving rifles in one of the Indian campaigns, and had been very favourably impressed with them czechoslovakian antique porcelain. He now obtained authority from the Secretary of War to order i000 Colt revolvers hankerchief table mahogany. To meet this order Colt persuaded Eli Whitney, Junior; to undertake the manufacture, and embodied some improvements suggested by Walker as a result of practical experience kent extending antique table.
These first military Colts were of -44 calibre with a barrel length of nine inches table octagon marquetry drawer. Their immediate success resulted in an order for a further i000 antique 17th century drop leaf tables. By this time Colt had established a factory of his own at Hartford, and was consequently able to manufacture the revolvers for the new order himself european antique lectern pedestal table. They differed from the 18th century austrian porcelain. earlier batch in having shorter barrels of 71 inches, and the length of the cylinders was reduced by a quarter of an inch “french trestle tables”. They were subsequently known as ‘Hartford Dragoons’ antique desk makers collector.
In 1848 Colt produced the best known and most successful of all his muzzle-loading revolvers antique draw table trestle. This was the so-called `Navy Colt’ oriental writing bureau cabinet. It had the same barrel length as the ‘Dragoon’ but was a much lighter weapon, with a calibre of only -36 inch josef hoffmann chair. It had a rifling of seven grooves and a six-chamber cylinder secretaire art deco. The mechanism was single action, and cocked by the thumb antique rosewood dining table lion feet. On the earlier models, at any rate, the cylinder was engraved with the picture of a fight at sea, and this is supposed to have been the reason for the popular name of the weapon pictures of early to mid 1800 dressing tables.
The Navy Colt was not without its faults “lit en bateau”. Certain of the components were very liable to break, but Colt overcame this drawback by supplying an enormous quantity of spares for the weak parts, and distributing them to all the establishments of contemporary American civilization where they were likely to be requested art nouveau sideboard.
The Great Exhibition at the Crystal Palace was opened in 1851, and Samuel Colt, now a Colonel, seized the opportunity to assault the English market serving sideboards. Subsequent events have been most entertainingly described by Mr antique dresser with turned leg. R silver forks. Scurfield in his outstanding article, ‘Early British Regulation Revolvers’, published in the Journal of the Society for ,Yrmy Historical Research porcelain butterfly: french symbolist poets, verlaine. He says:
`It is notable that (except in America) all revolvers were regarded with suspicion before 1851—the year of the Great Exhibition—although they had been in fairly wide circulation from the x82o’s, when the first hand-rotated “pepperpots”, built on the bodies of centre-hammer percussion pocket pistols, appeared end table ivory inlaid india wwii. The reason for this distrust was a two-fold one: in the first place, all the pre-1852 English types (with perhaps one exception) had radial nipples (i antique desk when thay were made.e rectangular oak gateleg table., nipples at right-angles to the bore), and the result was that in the small calibres generally used fouling accumulated in the chambers under the nipples and caused miss-fires; in the second place, the actions were so defective in design (and often in workmanship as well) that they could not be relied upon to work properly; result, more miss-fires, especially in the very numerous self-cocking pistols double roll antique desk. Thus, so far as the armed forces were concerned, the authorities found their inevitable reluctance to introduce a new weapon for the rank and file supported for once by well-founded practical and technical considerations, while officers (although a few did experiment with larger calibre “pepperpots” and “transition” revolvers, the latter mostly thumb-cocking) hesitated for the most part to discard their powerful and trustworthy single or double-barrelled pistols telescoping dining table. The net result was that the revolver was ignored, or condemned as a new-fangled toy, in the Army and Navy indian vernacular furniture. `But the Great Exhibition changed all that pennsylvania dutch antique china cabinet hand painted pictures. Not only was the Colt revolving pistol on show, in several calibres and barrel lengths, but the great Colonel Sam Colt himself came to London, equipped with a large number of presentation revolvers (engraved, silver-plated, and ivory-butted) for distribution in interested and influential quarters, and exercising his undoubted talent for commercial publicity (of which dubious art he can be regarded as the father); and to everyone’s surprise the English gun trade produced, and exhibited, a rival to the Colt—a rival at least as good, if not better art deco inlay dresser. This was the Adams revolver, the invention of Robert Adams, a partner in the firm of Deane, Adams & Deane, of King William Street in the City birmingham silver finial designs. Adams, too, had a very good idea of the value of publicity and surprise, for he appears to have kept his new arm perfectly and completely in the dark until the Exhibition opened; it was not even patented until February, 18 5 1 17th century japanese imari porcelain.
`But there was to be no more indifference to the revolver in those circles interested in firearms decoart. The value of the Adams and the Colt was plain to all, and the old objections no longer held good; but a prolonged and most entertaining controversy, based essentially (apart from personalities, especially the personality of Sam Colt, who seems to have made as many enemies as friends) on the relative excellence of self-cocking (Adams) and thumb-cocking (Colt) actions went on intermittently until it was eventually decided (for Englishmen, at any rate) in favour of the Adams antique hanging corner display cabinet. The most amusing event in the squabble seems to have been a public lecture on his revolver by Colonel Colt, which was interrupted by a partisan of the Adams (some say Robert Adams himself) leaping to his feet brandishing a specimen of that make of pistol, and shouting to make himself heard in its praise-, after which the proceedings degenerated into a wrangle which soon became a free-for-all german cabinet-makers of the 18th century.’
Robert Adams, who had produced such a dramatic challenge to Colt, was associated with his brother John and John Deane in the firm of Deane, Adams and Deane 3 tiered dessert table mahogany antique rectangular. The partnership was only formed in 1851, presumably to manufacture the Adams revolvers, and was dissolved again five years later victorian tripod small table pillar and claw. In this short period, however, both the original revolver and all the various modifications to it appeared imatation marble antique bedromm suit.
At this stage, before describing Robert Adams’ designs, it would be well to consider the terms single-action and double-action as used in connection with revolvers; for their meanings seem to have altered during the course of the years antique victorian wood stool chamber pot. Originally `thumb-cocking’ was applied to an action in which the hammer was cocked by hand, and the movement at the same time actuated the pawl which rotated the cylinder to the next chamber and locked it in position while the shot was fired 1970s ashtray “art deco” style. `Self-cocking’, on the other hand, was used of an action where the pull on the trigger first cocked the hammer, at the same time performing the other actions mentioned above, and then released the hammer to fire the shot new deco furniture. Both these types were called single-action ebonized aesthetic movement credenza. A double-action revolver implied one which could be either self-cocked or thumb-cocked george ii burr walnut tallboy. But now, in the Fighting Services at any rate, thumb-cocking is described as single-action, and self-cocking as double-action antique bed acanthus paw feet. The future use of these terms in this work will refer to their modern meaning candelabra made in england.
Samuel Colt used single-action, whilst Robert Adams’ revolvers were double-action delatte nancy. Single-action was popular since only a light pull was required to release the hammer: a great help to accurate shooting antique coffee tables carved with romans playing instruments under oval glass. In addition it permitted very rapid fire, by ‘fanning’ the hammer 18th century chest antique. This method of shooting consisted of tying back the trigger, or holding it in the fire position, and flicking the hammer back with the palm of the free hand wedgewood porcelain swan base for pots de creme. An expert could fire six aimed shots in under three seconds, which made this method of using a Colt very popular in those parts where the American way of life was still somewhat uninhibited antique mahogany satin wood inlay and metal tray antique mahogany satin wood inlay and metal tray.
Double-action, on the other hand, had many advantages in the heat of battle when targets might present themselves quickly and from unexpected* directions doucai ming. It was then simpler and safer to pull the trigger only, rather than to co-ordinate the actions of finger and thumb cabriole iron legs table. Further, if slower than `fanning’, double-action could produce a much faster rate of fire than single-action antique dressing table with mirror for women ( designs).
Adams’ revolvers differed most-strongly from Colt’s in being double-action oval lacquer tea table. In addition, however, they were far more strongly made, since the barrel and body were forged in one piece english ironstone pottery. The cylinder, on the other hand, only had five chambers as compared with six in the case of the Colt bentwood rocking chair 1880 uk.
There were five models of the first Adams revolvers english hepplewhite revolving rent table. The largest had a 71-inch barrel of -50-inch calibre antique furniture 1800. The next size was much smaller with a 543-inch barrel and a calibre of ‘45 inch louis xv dining tables 8. Following this, a slightly longer barrel of 6 inches was combined with a smaller calibre of ‘38 inches antique commode on legs. Then came-a 41-inch barrel with -32 calibre; and a very small weapon with 3-11 lions paw on antique furniture.- inches of barrel and only -24-inch calibre royal vienna porcelain signed meyer.
In 1854 the ‘Government set up a Select Committee on Small Arms, and this body arranged for tests at Woolwich Arsenal to assess the relative merits of the Colt and Adams revolvers checkoslovakian glass decanter. The tests do not seem to have established a marked superiority by, either weapon gate leg drop leaf tables. The Select Committee preferred the Adams, but their report presumably showed that the margin value for antique china made in austria.of preference was very narrow, for the War Office purchased a large number of Colts in the following year cylinder bureau german. Most of these were issued to the Navy how to repair veneer table on couch.
In 1855 a great improvement was made in the Adams revolver by the incorporation of an invention by Captain F 19th century english cabinet makers. B staffordshire pearlware figures french revolution. E english george iii hepplewhite satinwood bedside cabinet. Beaumont, R paul de lamerie reproduction.E louis sue furniture dressing table 1933., by which the weapon could be used for either single- or double-action antiqu. This pattern of revolver was accepted for the Army, since it obviously embodied the advantages of both the Colt and the original Adams gateleg table imperial furniture. The following year it was succeeded by a similar but slightly improved model, and the last revolver which Robert Adams designed mid centru drum side table.
The Beaumont invention ruined Colt’s English market, and in 1857 the new Pimlico factory and the shop and show-room at No “brass drum tables”. i Spring Gardens, Cockspur Street, London, were closed down, and the American technicians recrossed antique rococo figurines. the Atlantic antique gate legged drop leaf table. The Colt connection was retained by a sales and show room which was established at 14 Pall Mall, where Colt arms made in America could be purchased rosewood chaise lounge 19c. Nevertheless, in spite of the short life of Colt’s English establishment, his revolvers lasted for a long time in the Navy art nouveau france origins. They remained as standard arms until 1862, and some may have remained in use until after 1880 can decorative moulding be antique bookcase.
The Adams revolvers were purchased by the Government, rather oddly, in two different calibres: -So and ‘45 inches; and were apparently issued quite indiscriminately; though there were far more of the smaller calibre serving tables.
In 1856 the Deane and Adams partnership split up antique tambour dining table -clock -desk. Robert and John Adams formed with the assistance of John Kerr (of Kerr & Co arita imari mark., gunmakers, in which he was in partnership with his brother James) the London Armoury Co arita kraak. This new firm took over all the Adams patents antique double pedestal dining room table. In 1858 Kerr & Co antigue oak mid century dining table with draw out leaves. produced a single-action revolver with a 51-inch barrel and made in two made in czechoslovakia initials. different calibres of ‘44 and ‘38 inches fire screen table. A year later they made a double-action revolver late pembroke breakfast table value. The Kerr patents were taken over in turn by the London Armoury Co antique spiral leg oak dropleaf table., and the revolvers were adopted officially by the Portuguese Army and purchased by the Confederate States of America berkey and gay.
In the meantime John Deane had opened his own establish-ment in London Bridge Stfeet, in London; and in 1858 had taken over the percussion revolver patents of William Harding 1930s drop leaf sofa tables. The weapon which was subsequently manufactured was known as the ‘Deane-Harding’ revolver antique 6 ft. st. louis credenza values. It was a double-action piece made in two calibres of ‘44 and -32 inches collapsible antique wardrobe. It had a very complicated lock, and for this reason was rejected as a Service weapon 16th century trestle refectory table. It was, however, much purchased privately by officers of both the British and ‘John Company’s’ Armies what types of materials were used in george hepplewhite furniture. In addition, the Confederate Government purchased a number of Deane-Hardings antique 19th mahogany hepplewhite card table.
Closely associated with the Adams brother’s was a relation or connection named William Tranter; a Birmingham gunsmith who later opened an establishment in London antique talavera for sale. There he manufactured many of the Adams revolvers grand furniture russia. In 1853 he patented a revolver of his own antique trestle refectory table. This had the peculiar feature of two triggers vilas furniture antique. One was for cocking the hammer and the other for firing rookwood nursery tiles. Three years later he brought out an improved type which had only, one trigger and double-action leopold stickly table 1959. There were three classes of this model: the ‘Dragoon’, of -So calibre and a barrel length Of 71 or 8 inches; the ‘Navy, ‘44 calibre and barrel 51 or 6J inches; and the small ‘Pocket’, ‘32 calibre and barrel 4 inches pattern for making victorian wash stands. Of these, the ‘Dragoon’ could be supplied with a detachable carbine stock 18th century antique gate leg table.
In 1858 Tranter secured a Government contract for his `Dragoon’ and ‘Navy’ models italian,furniture,maker,address.

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Presenting the Plan d3sf4wr6gk

Joe had created a business plan for a new gourmet mustard venture. He had spent a great deal of time developing the business initially and very little time putting together a business plan itself. It took Joe a good long while to learn the importance of the look of the plan. It almost cost him everything.
Joe’s plan was a visual mess. The margins were only half an inch wide. Joe had learned in school that wide margins on term papers meant you didn’t have anything to say. In the world of academia, the narrower the margins, the more words per page. More words per page meant more content, which to his professors meant that more work had gone into the effort. And by this measure (instead of an actual reading in some cases) a better grade was received. And so, consequently, Joe felt that with narrow margins and a cramped style the brilliance of his plan would be revealed.
Instead, the opposite was true. The first venture capitalist to receive the plan took one look at the tightly spaced and crowded first page and set the whole thing aside. All Joe received was a letter saying the investment didn’t fit their profile. He never learned it was the presentation of the plan itself that didn’t fit their standards.

The second venture capitalist to receive the plan was a stickler for consistency, neatness, and grammar. Joe’s plan was inconsistent in the formatting of tables, charts, and section headings. It was stapled together in a fairly sloppy fashion. Joe had not bothered to spell-check. By the time the second venture capitalist saw his second spelling error, he had had enough. The whole plan was set aside, and Joe again received a letter saying the investment did not fit their profile.
Joe was perplexed. He had done a great deal of work putting everything in place. He was ready to start shipping cases and cases of the product. He felt like he wasn’t getting a straight answer. He needed to know why the venture guys didn’t relish his gourmet mustard.
One of Joe’s friends offered to hook him up with a venture capitalist who would give him a straight and honest appraisal of the plan. Joe jumped at the offer and overnighted the plan that afternoon,
In three days, Joe met with Jessica, a well-dressed, no-nonsense professional investor. Jessica got right to the point. Joe’s plan was a disaster. It was difficult to read because it was too cramped, without any relieving white space. It was a jumble of type styles and inconsistent formats. The binding with off-centered staples was not neat or professional. Jessica said the entire product reflected poorly on Joe and his business. And in a game where first impressions are crucial, Joe’s current first impression would never lead to a second one.
Joe was crestfallen but thanked Jessica for her candor. He muttered he would probably lose his orders for 100,000 cases. Jessica immediately picked up on the comment. What 100,000-case order? Joe elaborated that he had received several purchase orders from the likes of Safeway and Wal-Mart. The buyers loved this gourmet mustard and were awaiting shipment.
Jessica asked Joe why the purchase orders weren’t included in the supporting materials. Joe didn’t realize the documents themselves were important. He had mentioned the orders at the bottom of page 27. Jessica scoldingly told Joe he was hiding his light under a bushel. Orders of that magnitude should be mentioned on page 1 and attached as supporting material exhibits.
Joe smiled. Did she think he had something? Jessica was now tearing through the financials, the management section, and all her other favorite parts of a business plan. She was starting to appreciate the opportunity in front of her.
As it turned out, Jessica’s firm invested in Joe’s business. And in the process, and very  fortunately, Joe came to fully appreciate the importance of plan presentation and the inclusion of important supporting materials.
Your First Impression
The first impression many people will get of your business is your plan’s appearance. Do you think a potential investor or lender will look differently at a business plan that is neatly bound and formatted for ease of understanding compared to one that is written margin-to-margin in purple crayon? What impression do you want to give? Here are a few hints for a good-looking plan:
•    Use white (or very light-colored) paper.
•    Margins should be at least one inch (but less than two inches) all the way around.
•    Font styles should be kept to a minimum (no more than three).
•    Colors should be used conservatively (photos and complicated graphics are exceptions). Black print and one or two accent colors are best.
•    Pages should be printed on one side only.
•    The entire document should be single-spaced with double spaces between paragraphs.
•    Don’t be afraid of white space.
•    Use bulleted points whenever you can.
•    Be consistent with formatting of tables, graphs, charts, titles, and section headings.
•    Use neat, professional binding—no staples.
•    Use a spell-checker.
•    Get someone you trust to look through and read the plan.
•    Include a table of contents at the beginning and an index at the end.
Your cover sheet should include all the information a reader will need to get ahold of you (company name, address, and phone number; names, titles, addresses, and phone numbers of owners) as well as the company logo, the date the plan was prepared, and the name of the person who prepared it.
Length
It’s ironic that it takes a 200-page book to explain how to write a succinct business plan. Typical business plans average between twenty to forty pages, including support materials. (Others, of course, maybe longer.) On the surface, it may seem unnecessary to do all the research and planning and organization we suggest, but think of your business plan as a crucible. The research, planning, and organization are the components you focus on in order to create a successful business. A winning business plan not only maps out the keys to a successful business but, more important, addresses the unique aspects of your business in a way that will serve your unique temperament, goals, and experience while simultaneously meeting the needs of investors and financiers.
So how long should your business plan be? The answer is simple: as long as it needs to be. How do you know how long it needs to be? You do the preliminary footwork. This book is an excellent first step. Then start writing. As you write it all out, you’ll get a sense of how long feels right. And again, have trusted friends review your work. They’ll help you determine which areas need to be fleshed out and which ones need to be pared down.
Presentation
Business plans are meant to be seen. Whether you wrote your plan to attract funding or to help with management, you will need to show the plan to someone.
•    The plan’s appearance reflects your commitment to creating a winning business plan.
•    The plan’s content is far more important than its appearance, but it won’t be read if it lacks a professional look.

If you wrote your business plan in order to attract funding and/or investment, you will need to get the plan into the hands of the people who can decide whether or not to give you money Most of us are uncomfortable when it comes to talking about money. Many of us were taught that it is rude to talk about something so crass. But if you want someone to give you a loan or invest in your company, you will have to get over your upbringing because you can’t just mail out your plan and hope for the best.
If you want loan or investment approval, you will need to schedule meetings to present your plan. Don’t think that just having the meeting and leaving the plan for the decision makers to read will cut it. Don’t leave something as important as your business’s future to chance. Decision makers may promise to read your plan and give it consideration, but you can’t be sure they actually will. The only way to be sure that your potential investors or funders get your message is to present it.
The presentation of your business plan should be a business meeting, a formal presentation. Even if the potential investors are your parents and your little brother, you want to present your plan in a serious and professional manner. (Remember, you can’t advertise for people to come to this meeting.) But for your preexisting audience—your friends and family and any professionals you’ve been in touch with—you might want to use a conference room. This room can be at the potential investor’s or lender’s office. If not and you lack the facilities, try borrowing space from a friend or renting a conference room. You might want to use presentation equipment, such as a computer/projector for your PowerPoint presentation. You should give your audience hard copies of your plan as well. When is up to you.
You can have the plan delivered before the meeting so that your audience will have time to formulate questions, though you run the risk of them making a negative decision before you have a chance to highlight all your positive points. Try having the plan delivered just the day before the meeting so your audience can become familiar with it without enough time to make a decision. Or you can hand out the plan at the beginning of the meeting, though here you run the risk of your audience reading while you are trying to present. Either way, have copies of your presentation slides to hand out so your audience can follow along.
Your slides and their corresponding handouts should contain short, bulleted points and be in the same visual style as your plan. Your presentation should be less formal than your plan in that you don’t want to sound like you are reading. Try to make it as much like a story as you can. Practice your presentation and get feedback from people you trust to give You honest opinions before you go before people who can make or break your business. Keep in mind that your audience can read—your slides and your handouts—so you don’t have to. Let your slides be reminders for your talk. Let them remind you what points you want to make and then expand from there.
If you wrote your business plan to aid in management, who sees the plan will depend on your business, your style, and your goals. Obviously, if the whole business is comprised of you and your spouse, there don’t need to be a lot of secrets. But if yours is a business with a rigid hierarchy with decisions made only at the top level, you might want to limit access. You might choose to share your plan with management only or show employees on a need-to-know basis. You might distribute a version of the plan (say, a version without financial detail, but with graphs and percentages instead), or you could include sections of the plan in your employee manual. It is entirely up to you. Odds are you will want to consider the twin needs of protecting sensitive information and building a sense of ownership, and only you know how to do so.
While people involved with money will have a pretty good idea why you are showing them your business plan, employees might not. You might include your business plan presentation as part of a company retreat or have a special meeting just for the plan. Maybe you want to introduce the plan to everyone at once or department by department. Wherever you choose to have your plan unveiled, be sure you are present. You may choose to deliver the entire message yourself, or you might be better served using a team approach, with appropriate managers discussing different sections. Again, it comes down to your particular approach and your particular business. Regardless, be sure to explain what a business plan is and how it should be used, why you are showing it, and what you expect listeners to do with it. Similarly, if you use the plan as part of your training program for new employees, be sure that they are not just handed the plan cold but are given the same message you gave the others.

As your business and your business knowledge grow, take some time to check back in with employees to see how the plan is being used and how employees feel it is working. Get suggestions and comments from employ ees and then use that input to improve the plan. Let the plan work as a road map, a checkpoint, and a management tool.
Your Plan Is a Living Document
A business plan is an ever-changing, never-completed document. It is always in a state of revision. With the passage of time, expertise grows, markets change, customer bases alter, and technology continues ever onward. Anyone who reads your plan should get the most up-to-date and complete information you are capable of providing. This means that even after you write the last section of your plan, you need to continue to study the markets and stay abreast of industry, market, and economic trends. Just as your business will be in a constant state of flux, so, too, should your plan be.
Anticipating Problems
Ideally, any business plan, whether written for management purposes or to attract funding, will help anticipate problems that could strike your company. Are costs of supplies going up? Is technology getting cheaper? Is competition increasing or decreasing? What is the motion (if any) of your labor pool? What advertising trends seem to be coming around again? Where is the economy in its current cycle? Are your best-selling products peaking, or are they on their downward slide? Which products are showing new strength? Use your plan to draft alternate budgets so you will have some sort of road map if good times get bad or bad times get better. Use your plan to assess whether or not your current circumstances (good or bad) are short-term or long-term.
Supporting Materials
Supporting materials are all the documents that can help convince readers of your business plan that your business is worth their time and/or money.

The documents should be introduced or referenced in the text of the previous sections so that they can stand alone in this section. These documents should need no introductory or explanatory text in this section and therefore can be simply arranged and attached to the final plan or offered as a separate document to serious investors or appropriate personnel.
As you go through the process of writing your business plan, you will think of a host of materials that can help you make the argument (to yourself, your management team, or potential lenders and investors) that your business is a good risk. These documents give credence to your arguments, and they back up your numbers. They help show how you came to your decisions and how you will make your plan work. As you prepare the plan, you should keep a notebook close by to jot down the supporting documents you reference in other sections or that you think you might want to include. Be sure you include every document that you mention in your plan. Don’t make your readers search for the information they need in order to make an informed decision (ideally, the positive decision you want them to make). Some of the support materials you should consider are these:
•    Resumes. Ideally, resumes are one page and include work history, education, professional affiliations and honors, and special skills. Include resumes for all owners/partners and corporate officers (whatever applies to your corporate entity).
•    Letters of reference. Your letters of reference can come from past investors, lenders, or business acquaintances (people you’ve worked for or with, suppliers, distributors, etc.) or from nonbusiness acquaintances (but avoid letters from friends or relatives) and should be assessments of your business skills.
•    Personal finances. While some practitioners suggest including a balance sheet of your personal financial history as well as that of other owners/partners, I am not keen on it. Keep your personal information as private as possible.
•    Leases. Include any lease agreements you have for your business (such as those for buildings, vehicles, equipment).
•    Contracts. Include any contracts for your business (such as loans, purchase agreements, service contracts, even maintenance agreements).

Remember Joe’s 100,000-case gourmet mustard order? That type pe of business validation is well placed in this section.
•    Other legal documents. Include any other pertinent legal documents, such as copyrights, patents, trademarks, insurance policies, and articles of incorporation.
•    Other attachments. Include any other documents or information that you have referenced in the body of your plan but that do not fall into any of the above categories. These would include demographic information, maps, and the like.
Depending on your business and the information available, you might also consider attaching:
•    Glossary of industry terms
•    Product information
•    Additional or more specific marketing data
•    Marketing materials (brochures, catalogs, etc.)
•    Financial analyst reports
•    Newspaper or magazine articles
•    Company history
•    Press releases
•    Web pages
Not all plans will need the same information. Those written for management purposes will not need the resumes, letters of reference, or credit reports. Even plans written to attract funding will differ as different lenders or investors will want to see different information. It is best to prepare as much information as you can so that you can easily tailor copies of your plan for various readers and institutions. And please note that the plan found in the appendix is a somewhat abbreviated version for reasons of space. Your plan may have much greater detail.

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Not All Property
Management Companies
Are Created Equal
In the summer of 2002, owners that we already managed one property for approached me to manage another property for them—the very same property I briefly talked about in my introduction. The 100-unit building was in a very rough part of town. I went out to the property and was shocked on my initial walk-through. Very rarely had I ever seen a property that was so disastrously managed.
There is no doubt that the property faced challenges given its location, but it seemed as if the manager had given up on the building. I could immediately tell that managing this building was going to be a challenge of the first order. Luckily, I enjoy challenges. Because of my relationship with the owners, I elected to take on the management of the property.
The first problem the owners had was they had signed a property management agreement that was fee-based rather than based on a percentage of the income collected. As I indicated earlier, if you are going to use a third-party management company, you should always make sure they collect their income based on the property’s income. It is just too easy for someone to become complacent if they know the money will come in no matter their performance.
Even though I enjoy a good challenge, I still had huge reservations about taking on the task of managing this property. For over two months, the owners and I went back and forth on negotiating terms that would be fair for me to accept the job. There was such a large amount of outstanding unpaid bills that I made it a condition that the owner bring all accounts up to date before we even stepped foot on the property, which they did. We needed this to happen to even have a fighting chance of fixing the problems the property faced.
When we finally did take over the property in March of 2003, we were shocked at the condition and state at which it was operating. Immediately, we walked each of the 100 units. We found significant deferred maintenance. Nearly every unit on the property required a large amount of renovation work, including the occupied units. Not only that, the deferred maintenance was so significant in about forty units that the previous manager had not been able to rent them. The property was only 60 percent occupied. Many of the vacant units required $2,000—$4,000 each just to be rent-ready. In the end, ninety-eight units needed work of one variety or another with a total bill of $106,000!
Because the property was in such a state of disrepair, rents were significantly below market, and once we began to dig into the financials we found some pretty astonishing things. Shockingly, the rent income was about $145,694 below market. Based on a 6 percent capitalization rate, that alone devalued the property by $2.4 million.
Operating expenses were too high as well. The previous manager had not explored any ways to save money. A couple quick phone calls on our part saved about $20,000 annually in operating expenses. Unfortunately, that savings and some others had to go toward expenses to make the property rentable. Even worse, we discovered that the mortgage had been intentionally paid short by about $20,000 by the previous management company, and the lender was threatening foreclosure.
It was the owners’ intention to sell the building since it was such a burden. This, however, was a futile effort. The actual cash flow for the financial year ended up being negative $166,373! That was an operating loss that equated to 4 percent of the entire value of the building. That means that the building was actually unsellable, since as we’ve discussed, value is based on operations. Had they tried, I think the owners would have had a hard time giving the building away.
Once a manager gives up on a property, as the previous manager had, the resident profile will inevitably slip. Such was the case with this property. Desperate to just fill apartments, the manager stopped doing background checks and rented to anyone who came through the door, a last-ditch effort to increase occupancy. Criminal activity got to be so bad on the property that the standard street beat police wouldn’t go there. Instead, they had actually set up a police substation inside the property itself because of the incessant drug activity. Additionally, the police department had rented an apartment and was conducting sting operations on the residents.
As I mentioned in my introduction, one resident was so involved in drug trafficking that he had been paralyzed from one of the many gunfights he had been in and was wheelchair-bound, and he had his wheelchair custom-built so that he could hide an automatic weapon in it. When we first took over the management of the building he was very nice and very interested as to what we were planning on doing to increase security. He was worried how it might affect his business!
We immediately evicted fifteen people when we took over the property because of their involvement in criminal activity, One of my employees went so far as to jokingly suggest we apply for federal funding to become a halfway house for convicted felons. That might have been easier.
We faced a mountainous volume of work when we took over the property. In trying to get the property back to a functioning level, the workload was so intense that I had my corporate office employees keep track of the time they spent on it. The results were astonishing. Following is the actual monthly time and cost of my corporate staff on just this one Time Commitment per Month Cost of Time
March
Asset Manager 60 $1,920
Accounting 56 $1,400
Training 12 $240
$3,560
April
Asset Manager 50 $1,600
Accounting 31 $775
Training 6 $120
$2,495
May
Asset Manager 50 $1,600
Accounting 31 $775
Training 6 $120
$2,495
April
Asset Manager 50 $1,600
Accounting 31 $775
Training 6 $120
$2,495
April
Asset Manager 40 $1,280
Accounting 31 $775
Training 6 $120
$2,175
Let me tell you why this chart is so significant. When I negotiated the property management agreement with the owners, I wanted there to be some safeguards because I knew there would be a lot of work involved. With that in mind, we settled on a management fee of 5 percent of the total income collected, or $2,500 per month, whichever would be greater.
When we took over the property it was generating about $31,000 in total
ncome each month. At 5 percent our monthly fee would have been $1,550. Thankfully, we had a safeguard and collected $2,500. Unfortunately, I still lost money.
Earlier in the book I talked about the things a property’s operating income pays for. One of them is the on-site staff: your manager, maintenance, housekeeping, and leasing agents. It does not pay for the property management’s corporate office staff. Take a look at the chart again. Do you see how on the first month we took over the property the total cost to my office staff was $3,560? That was a direct loss to me of $1,060. From then on it was basically break-even.
All of this was a direct result of the previous manager’s inability to manage the property correctly, and all of this could have been avoided if the owners had done a little more homework and been more prepared in their initial search for a property manager.
In the end we were able to get the building into a much better operating status. The difference was so dramatic that the owners actually changed the name of the building in order to shed the negative stigma of the previous name.
After our hard work, the owners were able to sell the property and even realize a little profit. That would have been unthinkable two years earlier. This is proof positive to me that there is nothing more important to the value of a property than good property management. Think of the stark contrast; one manager had driven the property so far into the ground that it was technically worth nothing, while we took the same property and created value just by implementing sound management principles.
To me there is nothing more tragic that seeing a property’s value destroyed by a manager’s bad performance. Unfortunately, this property’s story is not an isolated case. The responsibility rests on your shoulders to do your homework when hiring a management company. In this chapter we will discuss how you can avoid these mistakes and find a property manager that fits your investment’s needs and manages your property successfully.
What You Need
First off let me say the simplest definition of a good property management company is this: one that sends you a check and never calls. That is the dream of every real estate investor. One of the major advantages about hiring professional property management is that you no longer have to invest copious amounts of energy and time in your property. When you have a property management company that you trust, you let them take care of your asset and they send you the returns. If you feel the need to control every aspect of the property management process, you should just manage the property yourself. Otherwise, you defeat the purpose of hiring a professional company and you are wasting your money. However, this does not mean you should not be managing the property manager.
Though it is easy to blame a property management company if your property is underperforming, the responsibility ultimately is with you. Even if you are not going to manage your own property, you need to have a fundamental understanding of the work and principles that are needed in order to make your property a success and grow in value. You should choose your management company based on an informed decision.
There are many property management companies out there who are dying for your business. A lot of companies will take on your property, even if they don’t have the manpower or the know-how, because they are more concerned about growing their business than creating value for your investment. Not all property management companies will specialize in managing your type of investment. Later in this chapter we will go into detail about the various types of companies, but for now suffice it to say you shouldn’t hire a company whose expertise is commercial management to run your ten-unit residential building.
The first thing you should do when evaluating which company to hire is to evaluate your property needs. Sit down and think hard about what kind of property you own. Make a list of the needs of the property that will have to be addressed by the management company you hire. Some areas to focus on are:
Age
Structures
If your property is older it will need to have a higher level of maintenance in order to keep it competitive.
Some properties will have more than just one building. There might be fountains or sport courts. Another common building would be a laundry facility. All of these will require a company that has knowledge of how to care for these items.
Oftentimes a property will come with equipment that assists with the care of the property, I recently purchased a property that came with a snow plow, a truck, and a car. There were also boilers that provide hot water to the residents. These items are part of the property and will need to be managed and cared for.
The landscaping on a single-family home may take very little work. If you own a larger property, however, it is a major expense and takes a lot of time. If a company doesn’t have the resources to manage your landscaping, your property will suffer. Each state and the cities within those states have varying laws and regulations on the rental industry. Be sure that a company is not just familiar, but well informed about your market and its laws. If you own a larger property, you will have multiple amenities such as pools, fitness centers, and business centers that will need to be cared for on a continual basis.
Determine if your property needs an on-site or off-site manager. determine what kind of accounting functions and reports you will want to see. Make sure a prospective company can meet those needs.
Whether your property is a single-family home or a large multifamily apartment building, there are companies that will specialize in your type of property, Don’t make the mistake of hiring a company just because they want the business. Find the right fit.
Equipment
Grounds
Local laws
Amenities
Administrative Needs
Size
This doesn’t have to be anything extremely complicated. For example, if you own a 100-unit community, you don’t want to hire a company that doesn’t offer on-site management and trained maintenance technicians. Conversely, if you own a single-family house, you probably don’t want to hire a large company that will find it too easy to let your small property fall through the cracks.
Additionally, your property’s needs will vary depending on the region. You may own a large property that would benefit from a large property management company, but if it is in an area where that company’s presence is small, you could be better served by seeking out a company that knows the market and has a presence.
Something as simple as the climate can create dramatic differences in the needs of comparable properties. A property in Madison, Wisconsin, would need to have ways to manage snow accumulation, icy pipes, and slick sidewalks, something a property owner in Phoenix, Arizona, would never have to worry about. If you own a property in a cold weather climate like Madison, it wouldn’t make sense to hire a property management company that operates primarily in the Southwest. There is such a vast difference between the climates that there is no way the company could be as well versed in managing a property as a company that operates locally or regionally.
A good rule of thumb when evaluating a property management company is to make sure that it belongs to local and national trade organizations. Reputable companies belong to trade associations. Belonging to a trade association is an indication that the company is focused on improving its operations. These associations offer training for employees, networking opportunities, and valuable market research that a company can get nowhere else. You can find a list of prominent property management trade associations on the NAAHQ.org and IREM.org Web sites.
I have been involved in the Arizona Multihousing Association (AMA) for years. Every month I send my employees to any number of the training classes that they offer. These classes are invaluable. Additionally, our involvement in the AMA has created valuable networking opportunities with vendors that we have used to negotiate discounted services. This saves my clients money.
The AMA also keeps all its members up to date on changes and proposed changes in the Arizona legal system that would affect how a property is managed. They provide educational forums and seminars on property management law and help me ensure that my employees are empowered with the knowledge they need to comply with those laws.
Trade organizations also provide certifications based on intensive training.

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