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Home Appraisal Services Aberdeen SD

The first thing to remember when trying to convince a seller to sell at a 10% cap is to make him think that it is still a 7 or 8 percent cap or less. The seller has no right to know your numbers -- they are yours because you have taken the time and effort to learn them.

Joel Frink
(605) 225-7300
1021 South Washington St #2
Aberdeen, SD
Licensing Information
State: ND

License Number: CG-2901
Company
Aberdeen Appraisal
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Craig Sommers
(605) 225-1030
1228 Norwood Dr
Aberdeen, SD
Licensing Information
State: SD

License Number: 117CG
Company
Farm Credit Services Of Amer
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Sheryl Erickson
(605) 225-1985
Po Box 937
Aberdeen, SD
Licensing Information
State: SD

License Number: 274CG
Company
Erickson & Associates Llc
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Amy Frink
(605) 225-7300
1021 S Washington St
Aberdeen, SD
Licensing Information
State: SD

License Number: 661CR
Company
Aberdeen Appraisal
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Robert Severson
(605) 885-6357
39650 Sand Lake Dr
Columbia, SD
Licensing Information
State: SD

License Number: 115CG
Company
U S Fish & Wildlife Service
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Delbert Bierman
(605) 225-5400
712 5Th Ave Sw
Aberdeen, SD
Licensing Information
State: SD

License Number: 183CG
Company
Bierman Appraisals
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Marvin Siebrecht
(605) 725-7000
Po Box 1826
Aberdeen, SD
Licensing Information
State: SD

License Number: 148CG
Company
Siebrecht Agency Inc
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Ryan Mohr
(605) 229-5202
12980 387Th Ave
Aberdeen, SD
Licensing Information
State: SD

License Number: 581CR
Company
Dl Mohr Appraisals
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Bruce Frink
(605) 225-7300
1021 S Washington St
Aberdeen, SD
Licensing Information
State: SD

License Number: 120CG
Company
Aberdeen Appraisal
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

William Mulvaney
(605) 885-6357
39650 Sand Lake Dr
Columbia, SD
Licensing Information
State: SD

License Number: 620CG
Company
Us Fish & Wildlife Service
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

How to Convince the Seller to Sell at Your Price

PARK INVESTOR TIP: How to convince the seller to sell at your price
Sun 10/18/09 01:26:49 pm
Dave Reynolds Archive

The first thing to remember when trying to convince a seller to sell at a 10% cap is to make him think that it is still a 7 or 8 percent cap or less. The seller has no right to know your numbers -- they are yours because you have taken the time and effort to learn them. You are putting these numbers together to represent your best estimate of the income and expense you will incur when you take over. You will not run the park the same way as the seller. Therefore you base your decisions on these numbers (just as the Seller would if he were buying the park).

Once you have completed your diligence and have a tight, 100% accurate budget, you know what the park can really produce in cash flow. Normally, this is much less than the seller told you. Sometimes, in rare cases, it is higher. In any event, to achieve your 10% cap, you are probably going to have to get the seller to reduce his price.

The first step is to "cook the books" yourself. Look at any expense item that the seller gave you that is higher than what it should actually be. Leave all of those numbers at the seller' s level. Next, tack on some more expenses for the "grey area" numbers such as administrative, travel, and management. And then add on a ton of proposed "essential" capital expenditure items, such as re-building the roads and utilities -- even if you have no interest in ever replacing them. You are about to enter in to a negotiation, and you need room for the seller to enact some negotiating.

Once you have all the pieces, arrange to meet with the seller. Have a complete set of your numbers to show him (bring two sets). Pick a neutral area to meet, like at a restaurant, so that you have his sole focus. If you meet at his home or office, you may get constantly interrupted.

The first key is to get him in the habit of saying "yes". Go down the numbers with him, starting with the revenue numbers. Start with easy assumptions like "the rent is $200 per month, right?" And get him to say "yes". Get him to say "yes" many times before you hit the "increased" expense items such as administrative and capital expenditure reserves. He may start disagreeing with you at this point, that ' s only natural. Be sure not to put a final tabulation on the sheet you have given him. He'll go straight to the bottom and know what you are up to.

Once you have gone down all the numbers, show him a second, new page. This one will have the totals and also the amount of debt these numbers will support. Use the bank as your negotiation weapon. Tell him that you would like to pay him more, but the bank will only loan so m...

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