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Mission Statement
Wasatch Property Managements success is based on the following
three fundamental operating tenets,
- Identify and acquire undervalued real estate
- Add value to existing and new real estate
- Service to Residents, Coworkers, Business Partners, Suppliers and Lenders
The first describes the birth of our business identifying
undervalued real estate. This real estate has typically lost value due to
inadequate management or management systems, underfunded capital maintenance and
repair, and over-financed or inadequately structured financing. When we
identify these elements in a market that is within two hours flight time of Salt
Lake City, Utah we review these as potential investment opportunities.
The second fundamental is to rapidly recover the acquisition and
rehabilitation capital invested. This rapid recovery is critical to business
growth since earned capital is rapidly reinvested in new opportunities. We seek
investments that will return invested capital in three years or less. The
earnings growth needed to accomplish this results from rejuvenating the
community with capital improvements, improving customer service, improving the
effectiveness of invested labor, and structuring debt to be most
effective.
The third fundamental is the most important to me personally and
gives us a unique view of our mission to our associates and community residents.
Wasatch Property Management exists to better the depth of human value of each
person who associates with us or is served by us. Seeking human dignity and
respect in all we do is the core reason we will prosper and endure as a company.
We have adopted Stephen Covey's "Seven Habits of Highly Effective People" as our
core trading in ethics principles and values to guide ourselves toward
richer personal connections with fellow associates, suppliers and residents. We
leave each person we touch with a true feeling of importance and self worth. We
will grow and prosper to the extent our principles are immovable in these
areas.
Our business of caring for our fellow beings housing and
security needs, performed with great respect, will leave a lasting mark on the
communities and people we touch. I expect our company to be associated with
great service companies like Nordstroms, Hyatt, Merck and others who have
mastered the principles of seeking to elevate all people we are given the
opportunity to serve.
Dell Loy Hansen
Chief Executive Officer
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