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Home Appraisal Services Washington DC

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.

Mark Bernstein
(301) 439-8888
Takoma Park, MD
Company
Mark W. Bernstein Appraisal Service
Appraisal Types
Residental, fha, hud, edi
Licensing Information
License Number: 1420 MD/CR11116 DC
Insured
Counties Served
Anne arundel, Howard, Montgomery, Prince georges, District of columbia, Anne arundel, Howard, Montgomery, Prince georges

Data Provided by:
Larry
(703) 823-5020
220 Century Place Suite 3423
Alexandria, VA
Company
Livramento Appraisals
Appraisal Types
Residental, fha, hud, edi, erc
Licensing Information
License Number: 4001 008849
Insured
Counties Served
exandria city, Arlington, Fairfax, Fairfax city, Fls church city, Prince william

Data Provided by:
Bruce Flanagan
(301) 254-8220
4829 Broad Brook Drive
Bethesda, MD
Company
FLANAGAN ASSOCIATES
Appraisal Types
Residental, fha, hud, edi, erc
Licensing Information
License Number: 03-20159
Insured
Counties Served
Montgomery, Prince georges

Data Provided by:
David Knight
(301) 946-4333
4100 Culver Street
Kensington, MD
Company
Freestate Appraisal, Inc.
Appraisal Types
Residental, fha, edi, erc
Licensing Information
License Number: 1423018
Insured
Counties Served
Anne arundel, Howard, Montgomery, Prince georges

Data Provided by:
Ron Slurkanich/Jane Bishop
(301) 595-1116
12912 Bay Hill Drive
Beltsville, MD
Company
Home Appraisal Service, Inc.
Appraisal Types
Residental, fha, edi
Licensing Information
License Number: 171697
Insured
Counties Served
Anne arundel, Btimore, Marroll, Howard, Montgomery, Prince georges

Data Provided by:
Warren Cole
(301) 899-2835
5510 Henderson Way
Suitland, MD
Company
D & W Appraisals
Appraisal Types
Residental, fha
Licensing Information
License Number: 20486
Insured
Counties Served
Anne arundel, Mvert, Mharles, Howard, Montgomery, Prince georges,

Data Provided by:
Marcia Novak
(703) 585-2615
3212 N. Tacoma St.
Arlington, VA
Company
Marcia Novak & Associates, LLC
Appraisal Types
Residental, fha, hud
Licensing Information
License Number: 4001 005857
Insured
Counties Served
exandria city, Arlington, Fairfax, Fairfax city, Fls church city, Voudoun, Manassas city, Manassas park city, Prince william

Data Provided by:
Steve
(703) 853-0948
6157 Fuller Ct.
Alexandria, VA
Company
Appraisal Services
Appraisal Types
Residental
Licensing Information
License Number: 4001 007288
Insured
Counties Served
exandria city, Arlington, Caroline, Fairfax, Fairfax city, Fls church city, Fauquier, Fredericksburg city, Ving george, Voudoun, Vouisa, Manassas city, Manassas park city, Orange, Prince william, Spotsylvania, Stafford

Data Provided by:
Danny Walsh
(703) 536-3660
210 E. Broad St., #100 Falls Church, VA 22046
Falls Church, VA
Company
Daniel B. Walsh, Inc.
Appraisal Types
Residental, fha
Licensing Information
License Number: 4001000402
Insured
Counties Served
exandria city, Fairfax, Fairfax city, Fls church city, Prince william

Data Provided by:
Jeffrey N. Johnson
(703) 329-8375
1107 Cameron Road
Alexandria, VA
Company
Jeffrey N. Johnson, Appraiser
Appraisal Types
Residental, fha, hud, edi, erc
Licensing Information
License Number: 4001002932
Insured
Counties Served
exandria city, Arlington, Fairfax, Fairfax city, Fls church city, Voudoun, Manassas city, Manassas park city, Prince william, Stafford

Data Provided by:
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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