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Home Appraisal Services Mandan ND

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.

Jim Weisser
(701) 254-4900
104 S Broadway
Linton, ND
Licensing Information
State: ND

License Number: CG-1074
Company
Wiesser Appraisal
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Stuart Stenseth
(701) 355-4535
Po Box 7066
Bismarck, ND
Licensing Information
State: SD

License Number: 790CG
Company
Allied Appraisals Inc
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Ralph Leet
(701) 223-8940
1300 Ridgeview Lane
Bismarck, ND
Licensing Information
State: ND

License Number: CG-1099
Company
Leet Appraisals
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Gregory Doll
(701) 222-8215
528 West Boulevard
Bismarck, ND
Licensing Information
State: ND

License Number: CG-1002
Company
The Appraisal Centre
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Darrell Wetzel
(701) 255-3056
728 East Capitol Avenue
Bismarck, ND
Licensing Information
State: ND

License Number: CG-1137
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Mark Mcdermott
(701) 663-6487
Po Box 5001
Mandan, ND
Licensing Information
State: ND

License Number: CG-1047
Company
Farm Credit Services Of Mandan
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Todd Schmidt
(701) 258-7542
3333 E Broadway Avenue #1204
Bismarck, ND
Licensing Information
State: ND

License Number: CR-2920
Company
Lifescape Appraisals
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Charles Bosch
(701) 355-8515
3525 Miriam Ave
Bismarck, ND
Licensing Information
State: SD

License Number: 627CG
Company
Us Fish & Wildlife Serv
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Joseph Ibach
(701) 255-3181
P. O. Box 1235
Bismarck, ND
Licensing Information
State: WY

License Number: 420
Company
Dakota Appraisal & Consulting
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Bruce Knudson
(701) 223-2205
5934 Lariat Loop
Bismarck, ND
Licensing Information
State: ND

License Number: CG-2002
Company
Bruce Knudson
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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