Norman Neinchel attended the University of Rhode Island undergraduate school of electrical engineering and mathematics followed by graduate school at Stanford University in the 1950s.
Because of his extraordinary capabilities in advanced applied mathematics, he joined the Computer Research Laboratory of the General Electric Company in Palo Alto, California (Silicon Valley) in 1960 and was a contributing member of the team that designed and built the world’s first completely transistorized main frame computer (without vacuum tubes). It was the first computer ever for the banking industry, and was designed and built for the Bank of America to process their checking accounts. At the time, the Bank of America was the largest bank in the world.
Although Mr. Neinchel began acquiring income properties in the mid 1950’s, he was involved in several very successful commercial real estate ventures during Silicon Valley’s infancy in the 1960’s. That prompted him to pursue that endeavor full time and obtain a broker license.
In the early 1970s, he developed a completely new, and much more relevant, mathematical process for valuating the income properties he was acquiring. His intention was to incorporate a unique risk/reward factor into the process. In 1978, he wrote a micro-computer program which incorporated that math. He calls the process Performance IndexingTM and has continuously honed and polished it since then.
In the early 1980s, the California Department of Real Estate asked Mr. Neinchel to advise them on creating standards for continuing education requirements involving computers for all real estate licensees. He then created the very first computer-aided real estate seminar for continuing education.
After PC Magazine published a rave review of his software in 1984, several chains of computer stores asked to carry it on their shelves, including ComputerLand stores, which was the largest computer store chain in the country at that time.
Mr. Neinchel then began a nationwide tour, flying his own airplane, demonstrating the program’s process and capabilities. He eventually became a traveling lecturer and a paid advisor to numerous investors around the country. His process makes him an effective national income property advisor.
In October 1988, Mr. Neinchel received an unsolicited request from the Santa Clara County, California (Silicon Valley) tax assessor’s office to conduct an exclusive seminar on the Performance Indexing process for their entire appraisal staff. They were apparently so impressed with what they had seen, they contacted the Assessment Standards Board in Sacramento to request that the seminar be accepted for their continuing education. It was approved not only for them, but for all appraisers in all assessors’ offices in all 58 counties in California!
Recently, the California State Office of Real Estate Appraisers approved a Performance Indexing seminar for continuing education for all licensed appraisers.
Mr. Neinchel recently made some major improvements in the math and the concept and then applied for a patent on the process, which is now pending.
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Income Property Advisor
190 Rose Court, Suite 3
Campbell, CA 95008-2894