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Home Appraisal Services Hurricane WV

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.

Patty Sines
(304) 513-2253
748 Roxalana Hills Drive
Dunbar, WV
Company
Sines Appraisal Service
Appraisal Types
Residental, fha, hud, edi, erc
Licensing Information
License Number: 699
Insured
Counties Served
Cabell, Kanawha, Putnam, Cabell, Kanawha, Putnam

Data Provided by:
Jennings R Bradford
(304) 552-8327
803 Forest Brook Dr
Hurricane, WV
Licensing Information
State: NC

License Number: A3848
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Amy Dunkin
(304) 722-6643
902 S. B Street
Saint Albans, WV
Company
Dunkin Appraisals
Appraisal Types
Residential, EDI capable.
Licensing Information
State Licensed In: West Virginia
State License or Certification Number: LR0430
License/Certificate Type: Licensed.
Counties Served
Kanawha, Putnam.

Data Provided by:
Appraisal Review Specialists
(304) 760-2156
3058 Mount Vernon Rd Ste 12
Hurricane, WV
 
Appraisal Review Specialists Llc
(304) 768-6949
3058 Mount Vernon Rd Ste 12
Hurricane, WV
 
Marilyn Carte
(304) 342-7775
521 Churchill Drivde
Charleston, WV
Company
Carte Appraisal Service
Appraisal Types
Residental, Commercial, fha
Licensing Information
License Number: LR0319
Insured
Counties Served
Jackson, Kanawha, Putnam

Data Provided by:
R. Scott Barber
(304) 760-2156
3058 Mount Vernon Road, Suite 12
Hurrricane, WV
Licensing Information
State: KY

License Number: 4430
Company
Appraisal Review Specialists
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Valley Appraisal Services
(304) 201-2215
3845 Teays Valley Rd
Hurricane, WV
 
Keniman Belcher Prestige Park
(304) 757-0092
100 Prestige Park Dr
Hurricane, WV
 
Darby J Whitney Sra
(304) 776-3692
5509 Big Tyler Rd
Charleston, WV
 
Data Provided by:

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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