I think about property management. It's fairly recession friendly. We tend to not be negatively

impacted by a recession. It can actually be good for our business. In that sense, it's

a very safe business to begin. Then you can make money while you're sleeping and you're

not going to have to earn every dollar, which is even better.

My name is Lisa Wise. I am the chief nester for NSTC, where a boutique property management

company in Washington, DC, we manage really high quality homes in the district proper. We

focus on a lot of single family residences, condos and spaces and co-ops. We also manage

single family homes. We focus on high density urban living environments. We look at neighborhoods

where there's a lot of pedestrian traffic and we focus on historic homes and spaces that

attract people that will generally live in the space for two to three years. These use

are pretty transient place. We have a pretty decent turnover rate to the extent that tenants

come in and take care of spaces that have gone on a few years so we can re-rent that space.

We don't own any of the property ourselves. We work with clients who are often foreign

service or stationed overseas or other places and they're using their property in the district

for investment income. We've been able to aggregate that business and manage about 725

properties right now or individual units. That's one business I've got. I have another

business and co-owner and co-founder of, which is Roost DC. Roost is a sister company to NST.

Roost manages homeowner associations and condo associations again in the district. The

difference between the two is one in first and foremost, where an employee owns a company.

There are 15 employee owners of Roost DC and Roost focuses on managing the governance aspects

and the envelope aspects of the buildings that we work with. We don't manage any of the

units in the buildings but we manage the buildings themselves. Right now, those are the two

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