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Home Appraisal Services Waterville ME

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.

Richard Mitchell
(207) 634-5957
63 Main Street P.O. Box 241
Norridgewock, ME
Company
Mitchell Appraisal Company
Appraisal Types
Residental, fha, hud, edi, erc
Licensing Information
License Number: CR1477
Insured
Counties Served
Androscoggin, Cumberland, Franklin, Kennebec, Knox, Lincoln, Oxford, Penobscot, Piscataquis, Sagadahoc, Somerset, Wdo

Data Provided by:
Leroy Stinneford
(207) 872-5024
8 Timber Oaks Dr
Winslow, ME
Licensing Information
State: ME

License Number: CR000000001361
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Robert Nardi
(207) 873-1972
Po Box 458
Waterville, ME
Licensing Information
State: ME

License Number: CR000000000742
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Curtis Ziegler
(207) 763-4199
30 Szady Drive
Vassalboro, ME
Licensing Information
State: ME

License Number: CG000000000126
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Daniel Dwyer
(207) 623-2258
128 State St Ste 200
Augusta, ME
Licensing Information
State: ME

License Number: CG000000000276
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Linda Morin
(207) 623-8110
336 Old Belgrade Road
Augusta, ME
Company
Morin & Company
Appraisal Types
Residental, fha, hud, edi, erc
Licensing Information
License Number: MECR847
Counties Served
meandroscoggin, mecumberland, mefranklin, mekennebec, melincoln

Data Provided by:
Michael Mcguan
(207) 872-2979
41 Burleigh St
Waterville, ME
Licensing Information
State: ME

License Number: CG000000000180
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

David Cosgrove
(207) 873-0181
Po Box 377
Waterville, ME
Licensing Information
State: ME

License Number: CR000000000147
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Frank Rizzo
(207) 495-3365
Po Box 107
Belgrade Lakes, ME
Licensing Information
State: ME

License Number: CR000000000709
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Richard Mitchell
(207) 634-5957
Po Box 241
Norridgewock, ME
Licensing Information
State: ME

License Number: CR000000001477
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

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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