Condo Media - February 2022 - 32

Ask a Busy Person
Condo Media
Board Member
GETTING TO KNOW DAN PICHA
Director of Digital, Payments and
Specialty Lending, South Shore Bank
YOU HAVE A BIG JOB TITLE.
WHAT DOES IT MEAN?
I oversee a few areas of the bank. One group is
the condo lending, which is the specialty lending
piece. That's what tied me into the condo world and
Condo Media. Then I oversee our digital banking
team and the deposit operations group-all the fun
stuff that has to happen to make the banking system
work. I also manage our Cash Management Team.
The last group I oversee is called document imaging.
WHAT MAKES THE CONDOMINIUM WORLD UNIQUE?
It's interesting because no two requests are the same. Each community is
unique, meaning: does everyone own their home or does a large percentage
have rentals; is it a community where people have lived for 25 years or is it a
starter-home type of community; what type of maintenance has happened at
the community in the past; how's their relationship with their property manager;
what's the composition of the board? So, it's a lot of fun to try and put together a
lending package that appeals to the property.
WHAT ARE SOME OF THE LESSONS
YOU'VE LEARNED FROM THE INDUSTRY?
Always make sure you understand the complexities of the project
you're looking at fi nancing because loan types have evolved over time.
or maybe a 10-year loan. Now, a good portion of condominium communities
When I fi rst started in the industry 15 years ago, you typically did a fi veor
more invasive and larger in complexity, and communities haven't always
are 30 or 40 years old. The projects are sometimes becoming a little bit bigger
So, learning to ask a lot of questions has been probably my biggest eye opener.
been guided with a plan to prepare for how large-of-scale those projects may be.
AND WHAT DO YOU SEE AS
SOME OF THE CHALLENGES
FACING THE INDUSTRY NOW?
LIKE I SAID, I THINK IT'S THE
COMPLEXITY OF THE PROJECTS.
EVEN FOR THE COMMUNITIES THAT
HAVE DONE A GREAT JOB BUILDING
THEIR RESERVES, WITH THE COST
OF GOODS AND SERVICES GOING
UP AND A LABOR SHORTAGE,
IT'S EXPENSIVE TO GET THIS WORK
DONE. THAT'S DEFINITELY A BIG
OBSTACLE.THAT AND COMMUNITIES
SIMPLY COMING OUT OF COVID,
ESPECIALLY THOSE THAT HAVE A
LARGER PERCENTAGE OF SHARED
AREAS-HOW THEY COME OUT OF THE
PANDEMIC AND REBUILD COMMUNITY.
32 CONDOMEDIA February 2022

Condo Media - February 2022

Table of Contents for the Digital Edition of Condo Media - February 2022

Contents
Condo Media - February 2022 - CT1
Condo Media - February 2022 - Cover1
Condo Media - February 2022 - Cover2
Condo Media - February 2022 - Contents
Condo Media - February 2022 - 2
Condo Media - February 2022 - 3
Condo Media - February 2022 - 4
Condo Media - February 2022 - 5
Condo Media - February 2022 - 6
Condo Media - February 2022 - 7
Condo Media - February 2022 - 8
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Condo Media - February 2022 - 11
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Condo Media - February 2022 - 38
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Condo Media - February 2022 - 48
Condo Media - February 2022 - Cover3
Condo Media - February 2022 - Cover4
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201912
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201911
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201911_v2
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201812
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201811
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201611
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