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Marketing Investment Properties
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Marketing Investment Properties

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Take my tips to successfuly marketing investment properties.

Take my tips to successfuly marketing investment properties.

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Transcript

  • 1. Review of Investment Properties By Mark Larson Presented to: Investment Professionals
  • 2.
    • Responsibilities
      • Protect Owner’s Interest
      • Become Owner’s Real Estate Department
      • Become Owner’s Marketing Department
      • Be Owner’s Trusted Advisor
      • Make Life Easier For Owner
    Owner Representation
  • 3. Getting The Business
    • RFP-Request For Proposal
      • Lease Comps
      • Sale Comps
      • Market Data
        • Vacancy
        • Absorption
        • Overall Market Conditions – Including Sub-market
      • Cash Flow Analysis
        • Most Important – 3rd Year Cash/Cash – 8%
  • 4. Getting The Business
    • PERCEPTION IS REALITY
      • Be On Time – Period!
      • Dress The Part
      • Owner Presentation = Buyer Presentation
        • Do Your Homework
        • Do Not Assume The Owner Knows Anything
        • No Detail Is Too Small
      • If You Don’t Know The Answer, Don’t Guess
      • Be Confident
  • 5. Getting The Business
    • Commissions
      • Don’t Be Greedy, Be Fair
      • Don’t “Cave”
      • Be Prepared To Support The Percentage
    • Listing Terms
      • Be Flexible On Terms
      • Be Flexible On The Length Of The Listing
      • BRING An Executable Listing Agreement
    • Get The Listing Executed!
  • 6. The Flyer
    • You Are Now On Automatic Pilot
      • All Of This Information Was In RFP
        • Price
        • Cap Rate
        • IRR
        • Summary Of Offering
        • Overview Of Market
        • Comps – Lease & Sale
        • Map, Aerial, Site Plan, etc.
      • Enough Information To Peak Interest
  • 7. Offering Memorandum
    • Enough Information To Make A Decision
    • More Detailed Information
      • Financial – Argus Run
      • Comps – 5+ Lease and Sale Comps
      • Market Overview – Vacancy, Absorption
        • General Market & Sub Market
          • Competitive Buildings
      • Building Information – Physical Description
        • Structure, TIs, HVAC, etc.
  • 8. Offering Memorandum
    • Area Information
      • Map, Aerial, Site Plan, Parcel Map
    • Most Important Aspect – The Story
      • Why Should I Buy It?
        • Upside Potential
          • Below Market Rents
          • Reposition – Office To Medical / Rehab
          • Below Replacement Cost
        • Long Term Financial Stability
        • Avoid Paying Capital Gains
  • 9. Bid Date For Offers
    • Pros
      • Makes Buyers Focus
      • Ideal For Larger Assets
      • Quantify Timeline
      • More Professional
    • Cons
      • 1031 Buyers Don’t Like It
      • Can Make Process Shorter, Also Longer
      • Have To Disclose Current Offer Activity
  • 10. Buyers
    • Where Do They Come From?
      • Neighbor
      • Local Area
      • Your Database
      • Other Brokers
        • Lee & Associates
        • Other Outside Brokers
  • 11. Offers
    • Field Offers
    • Prepare Matrix
      • Price, Terms, Broker, Deposit, Comments
    • Pre Qualify
      • 1031 Exchange Buyer?
      • Known Relationship – Buyer or Broker?
      • Active In Market
      • Motivation
  • 12. Quality Buyer
    • 1031 Exchange Buyer?
      • Has Up-leg Closed?
      • If So, When?
        • Must Identify Within 45 Days
        • Must Close Within 6 Months
        • Can Only Identify 3 Properties
      • Where Are Funds
      • Is Our Property #1?
      • Any Problem With Equity/Debt?
  • 13. Qualify Buyer
    • What Is The Buyer’s Track Record?
      • Number Of Properties Owned
      • Number Of Properties In Area
      • Contact Last Three Sellers
        • Does What Is Agreed To?
        • Does Buyer Re-trade?
        • Does Buyer Close?
        • What Is Buyer’s Reputation?
  • 14. Escrow Responsibility
    • Obtain Due Diligence Materials Up Front
      • You Will Need For Marketing Materials
      • You May Discover A Problem
      • Be Prepared To Deliver “Box” To Buyer
    • Order Title Report
    • Order Survey
    • Check On Potential Financing Up Front
      • Can Be A Major Problem
  • 15. Closing
    • Party Time
      • Lunch
      • Dinner
      • Event
        • Baseball, Football, Basketball, etc.
    • Gift
      • Very Important – You Will Be Remembered
        • Hockey Story
        • Weekend Get Away
        • Back Country Skiing