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Home Appraisal Services Minot 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.

James Szymanski
(701) 852-4609
Po Box 444
Minot, ND
Licensing Information
State: ND

License Number: CG-1040
Company
Northland Appraisal Service
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Bradley Whitmore
(701) 509-3617
Po Box 1505
Minot, ND
Licensing Information
State: ND

License Number: CR-21041
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Brent Haaland
(701) 852-8278
1008 29Th Avenue Se
Minot, ND
Licensing Information
State: ND

License Number: CR-2928
Company
Haaland Appraisal Services
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Gary Weydahl
(701) 852-1197
Po Box 2171
Minot, ND
Licensing Information
State: ND

License Number: CG-1024
Company
National Faith Appraisal & Realty
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Bradley Haugen
(701) 839-1451
3108 South Broadway, Ste I
Minot, ND
Licensing Information
State: ND

License Number: CG-1010
Company
Haugen Farm Realty, Inc.
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Nancy Smette
(701) 852-0318
2001 6Th Street Se, Suite 5
Minot, ND
Licensing Information
State: ND

License Number: CG-2313
Company
Us Fish And Wildlife Service
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Wade Iverson
(701) 852-1265
Po Box 70
Minot, ND
Licensing Information
State: ND

License Number: CG-1018
Company
Farm Credit Services Of Nwnd
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Kevin Ternes
(701) 857-4160
Po Box 434
Minot, ND
Licensing Information
State: ND

License Number: CG-2003
Company
City Of Minot Assessors Office
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Anthony Szymanski
(701) 852-0402
Po Box 863
Minot, ND
Licensing Information
State: ND

License Number: CR-2907
Company
Great Plains Appraisal Service
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Natalia Gutzalenko-Isurin
(323) 270-3339
1940 S Broadway #228
Minot, ND
Company
Natalia G. Isurin
Appraisal Types
Residential, FHA, EDI capable.
Licensing Information
State Licensed In: North Dakota
State License or Certification Number: CR-21144
License/Certificate Type: Certified Residential.
Counties Served
Ward.

Data Provided by:
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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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