This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. September Learn how and when to remove this template message The Solidere development of the Beirut seafront and harbor In the Netherlandsvirtually all housing is developed and built through property developers, including development in upmarket segments.
The telephone screening script was developed to provide a consistent way to build this rapport, in a nonoffensive manner, to obtain the information needed to make our buying decisions.
The phone screening is intended to be very conversational and informal. The conversation includes questions about the following topics: May I ask your name? Could you please tell me about your home?
What is size, square footage, lot size, garage?
How many rooms, what configuration, bathroom layouts? What special features or amenities, appliances?
What is existing financing, mortgage type, terms, interest, payments, assumability? Real estate company business plans you current on all payments to banks, contractors, taxes liens?
Are you willing to assist in the financing? How much cash is needed at close? Can the down payment be spread out? What is the asking price? How long on the market?
How long have you been there? Why are you selling? Are there any renters in the neighborhood and what are they paying for rent? It is anticipated that in order to find a home that meets our investment criterion, we will have to call on approximately 25 advertised listings.
Of these, only approximately 5 will justify a property visit, yielding 2 or 3 offers, and 1 purchase. Performing Appraisals A database is currently under construction to capture and report the sale price of all homes in our targeted neighborhoods for the past 12 months.
The data for this appraisal tool is available from 3 sources and is being used to build a profile of potential market value and budget for renovation investments.
The data sources include: This listing is created monthly and is only available to licensed real estate professionals or people they choose to share it with. The listing from each Sunday paper is downloaded and scanned into our computer into the appropriate city section of our database.
Financial Analysis Each property to be purchased will go through an extensive financial analysis in a spreadsheet that has been created for this purpose. This analysis will provide the decisionmaking data to determine the appraisal value, appropriate purchase price, detailed estimates of potential renovation, acquisition costs, and potential sale price as well as anticipated profitability.
Creative Financing Techniques One of the most difficult and critical components of our purchase strategy is the elimination or minimizing of the down payment required to obtain the property. Quite often, the down payment represents a significant portion of the out-of-pocket investment, which is used to calculate the overall rate of return of the transaction.
That is, the less money invested to turn the property, the higher the rate of return on the purchase. Several strategies will be employed to take advantage of money that is available from traditional, as well as slightly more obscure sources of funding.
The following sources represent opportunities to purchase property with lower initial costs: The seller—quite often a seller will finance some portion if not all of the purchase transactions, especially if the interest rate is attractive and the term is short Equity in other homes or vacant land can be used as down payments or collateral for future payments Land contracts or private mortgages on other properties can be discounted and sold for cash; Wolfe Partners professional skills and services could be used as "sweat equity" Real estate brokers will sometimes take their commissions on a note or as an account receivable Investors could be used when larger amounts or quick cash is needed Tenants of rental properties could be enticed to convert their lease to a lease with option and apply some money down at the time of lease creation Existing loans on the property can sometimes be cashed out or leveraged Conventional institutional lenders Banks and savings and loan institutions will typically be considered as a last resort.
This is due to their high closing costs and long delays in processing mortgages. When a seller is not in a hurry to close, and the property will carry the added costs, conventional mortgages might be an option, especially in the current low interest market. Renovation Process The investment strategy for Wolfe Partners includes a renovation for every property purchased.
Obviously, homes that can be purchased well below market value with very little repair required are optimum investments, but difficult to find. It is anticipated that every home will require at least cosmetic improvements to bring the home up to maximum value and allow it to be sold quickly.
To perform these renovations, Wolfe Partners will enlist the help of building trade contractors to perform each of the tasks needed.Retail Solutions is a retail and commercial real estate brokerage firm offering full tenant representation, property leasing, and investment sales services geared towards easing the process of leasing, selling & buying commercial real estate.
Discover what Retail Solutions is all about! Your Sarasota real estate expert. Browse Sarasota homes for sale at Michael Saunders & Company. REAL ESTATE. Recent and archived news stories on: Commercial real estate, residential real estate, housing, architecture, engineering, real estate brokers, construction, property development.
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Encyclopedia of Business, 2nd ed. Real Estate Renovation Company Business Plan Business Plan: Business Plans - Volume Indiabulls Real Estate is India’s third largest real estate company, incorporated in with its focus on construction and development of commercial, residential properties and SEZ projects across major Indian metros - Mumbai, Delhi NCR, Chennai, Hyderabad, Ahmedabad and London.