"You will have to use the income from the last three years, you will need the seller to provide you with a profit and loss statement to do this.
The price should be based on the history of income and the projected future income.
The link below will help you figure out how to figure the Cap Rate."
In response to: How do you value a small, privately-owned, neighborhood grocery store?
Answered by Ben Edsall via LoopNet Answers on Mar 30, 2011 - Like"Internet, Internet, Internet... You gotta have Google juice.
You need a powerful web presence and you need to own certain keywords. That requires a lot of SEO work or you can pay for ads. Google Ads are OK, but there is a lot of click fraud and you will pay a lot of money.
Social networking, create a Facebook page for your business and promote it. One of my most effective tools right now is Facebook Ads.
Using Facebook Ads you can target people who's profiles contain words like "real estate investor" "real estate investing" . You can also target by location and any number of other factors.
Follow sales of property that fits your management portfolio type, if that is apartments then watch to see when a property sells and use the tax records to send mail to the new owner.
Contact real estate agents who do not manage property and offer them a percentage of the first months rent for referrals.
Follow expired listings on the MLS and send the owners information about your services, tell them that maybe now is not the best time to sell and you can offer them an alternative.
Market out of the box, get some press, offer something unusual to attract attention.
Google, Bing and Yahoo all rank sites differently, getting yourself in the news is a sure way to bump your ratings.
Join groups and associations that relate to your line of work, when you are a member they often link back to you and send you referrals. Check out NARPM, IREM, CCIM and NAA,
Best of luck."
In response to: I want to expand my property management company. Anyone with any ideas of the most effective way to do this?
Answered by Ben Edsall via LoopNet Answers on Jul 19, 2010 - Like"Overall the trend has been downward in occupancy, especially for many newer multifamily properties.
The largest sectors hit have been in the areas with the largest job losses. For the most part the most heavily affected portions of the market have been higher end, newer developments.
As people start looking to cut costs, housing is one of the first to be reduced. Many people find that paying more for amenities they do not use is no longer a viable option.
Downsized workers are often looking to downsize their monthly rent and looking to more affordable apartments, often in older properties.
The massive glut of foreclosed single family homes has opened up opportunities for investors to grab them at discounted rates and then rent them out. This has also dealt a blow to the multifamily industry, by creating more competition in the market."
In response to: area avg. occupancy - multifamily dwellings
Answered by Ben Edsall via LoopNet Answers on Apr 13, 2010 - Like"Samantha I would love to help you but I'm not sure from the question what you are asking. What type of building, how long a lease, how do you plan to use the building.
There are vast differences between the price of retail, office, warehouse and storage. There are also pricing differences based on location, type and accessibility.
Please explain.
D. Ben Edsall
Broker - ARM, AEREP
Turn-Key Properties LLC
7312 E 67th St.
Kansas City, MO 64133
816-313-8876
http://www.turnkeyproperties.org
http://www.batescountyrealestate.com"
In response to: How much a building about 600sf & need to know the cost of the building itself & per sf in Overland Park
Answered by Ben Edsall via LoopNet Answers on Apr 13, 2010 - Like
As a real
estate broker you come upon many challenges everyday, sometimes they
can be daunting!
A rep... » Read more
Posted by Ben Edsall on Apr 13, 2010 - Comment • Like
While the President was throwing out the first pitch, and the Royals
were going down 8-4 against the Tigers, for... » Read more
Posted by Ben Edsall on Apr 13, 2010 - Comment • Like
Got a house that you can't get rid of? That dilemma is a lot more common
now than ever before. After many ... » Read more
Posted by Ben Edsall on Apr 13, 2010 - Comment • Like
Attention Spans are growing shorter and shorter, so say's Maggie
Jackson, author of Distracted: The Erosion of A... » Read more
Posted by Ben Edsall on Apr 13, 2010 - Comment • LikeWhy you may have better results with a local agent than a big
commercial real estate firm!
Reprinted from K... » Read more
1 person likes thisPosted by Ben Edsall on Apr 13, 2010 - Comment • LikeAs the Kansas City Real Estate Examiner I recently wrote an article about buying and selling horse farms or equestrian p... » Read more
Posted by Ben Edsall on Mar 10, 2010 - Comment • Like
Selling or buying a horse farm? You need to know what to look for and so does your agent... » Read more
1 person likes thisPosted by Ben Edsall on Mar 6, 2010 - Comment • Like
Odessa, MO is a suburb of Kansas City, commercial real estate in Odessa took a hit when ... » Read more
Posted by Ben Edsall on Feb 17, 2010 - Comment • Like
This weekend I finally had the chance to visit the World War 1 Museum at the Liberty Mem... » Read more
Posted by Ben Edsall on Feb 16, 2010 - Comment • Like
While California slips deeper into recession people who can leave are leaving in droves!... » Read more
Posted by Ben Edsall on Feb 10, 2010 - Comment • Like
Big box real estate seems to be a huge portion of the commercial vacancy as we move into 2010... » Read more
Posted by Ben Edsall on Jan 4, 2010 - Comment • Like
Back in July Forbes.com chronicled the fact that Kansas City "tops our list of America's... » Read more
Posted by Ben Edsall on Dec 31, 2009 - Comment • Like
Real Estate Broker offers Free Gun to ClientsKansas City: a real estate broker offers a free ... » Read more
1 person likes thisPosted by Ben Edsall on Dec 20, 2009 - Comment • Like
Equestrian Real Estate is popular in the Midwest.Turn-Key Properties LLC Real Estate Related... » Read more
Posted by Ben Edsall on Dec 20, 2009 - Comment • Like
My last two articles here as the Kansas City Real Estate Examiner dealt with the future of Co... » Read more
Posted by Ben Edsall on Dec 16, 2009 - Comment • Like
So if residential real estate is in the tank and commercial real estate is struggling where i... » Read more
Posted by Ben Edsall on Nov 27, 2009 - Comment • Like