Need Format For A Proposal
i just got my CMCA certification to do community association property management and my company needs to submit a proposal to a condo association to try to win the business.
we have managed many of our own large apartment buildings, but this is the first condo association we are bidding on.
does anyone have or know where i can get a sample proposal so i can see what the format looks like?
any help with this would be greatly appreciated.
thanks so much!
fran
i was being told that multifamily deal always requires 20% down, is this true ?
i came across a Freddie Mac MultiFamily program and they say they can do 85%. is this true also ?
i am looking at a 10 units $300,000 apartment building, and another 16 units but $600,000 deal . which one has better chance to get 85% financing. if i can prove to them that it is going to be positive cash flow on the property.
wrt to seeing 4.99, I think that would be fiction. See 7.-7.9, I think would be more realistic.
cjmazur,
Did you get my response to your Private Message?
Have several development projects in process ..Would like to do my own homework prior to bringing hard figures to the forum...Any software you could recommend to run my REAL ESTATE DEVELOPMENT financial planning????
My sincere apology.... for multiple postings I thought was not connecting properly.....One must click submit only once ...SORRY AGAIN....
I use Investit. Relatively inexpensive at around $300, and performs everything I need VERY well.
If you really want to get the top-of-the-line program that all the big commercial firms use, buy Argus. But licensing runs into the thousands quickly.
Quote:
On 2007-10-25 20:57, expertllc wrote:
Have several development projects in process ..Would like to do my own homework prior to bringing hard figures to the forum...Any software you could recommend to run my REAL ESTATE DEVELOPMENT financial planning????
The seller clearly has a contract with the real estate agent so you will not be able to avoid the agent. Usually what I try to avoid is the running back and forth with offers and counter-offers. You will likely need to get the blessing of the agent for a face-to-face with the seller. This is usually not too hard.
I would want to look at the books and also tax returns. There is not much uncertainty in loan service, taxes, insurance and management fees. You will want to take a close look at vacancy history and repairs and maintenance. These are the items with large uncertainty.
The contract is between the seller and the real estate agent and does not involve you. Normally, the contract specifies a period of time where if the property is sold, the agent gets a specified percentage of the sales price. Actually this may be split between several parties including the real estate agence. This percentage is often 6%, but is subject to negotiation.
If you were to go to the seller while the contract is in effect and tell the seller to wait until the listing agreement expires, the agent may have a case that the sale was negotiated while the listing agreement is in place and claim that commission is due.
You may be able to do the deal without paying the agent. This all depends on the type of contract signed between the broker and the seller. The listing agreement should express what the terms are.
It depends on what you hope to accomplish and what stage of your investment plan your in. Also, how much are you looking to invest? Some investors on here believe that you should start out small and manage the property yourself. Others would tell you to buy the biggest property you can and have it professionally managed. Neither answer is wrong, it just depends on the investor. Lots of investors are going to places like Ohio, Texas, and the southeast because they can get properties to cash flow. I see you are from Idaho - Boise has been doing very well the past three or four years.
Nevada is a great place to invest right now.
We still have so many people coming here to work,
constuction is booming, and there are alot of forclosurs right now. People are also looking to rent.
Regardless of what the media is saying las veags is a great place to invest right now.
Mobile Alabama is a great place for Multi Family. They have a steel mill coming that will employee 27,000 people for the first 5 years during construction and then 3,000 permanent jobs. Also NASCAR track coming. I also have an awesome loan program for Multi Family if you are interested.
Greg,
There are some great deals here in Ohio. If you would like to partner on some let me know.
Just west of MSU in Lansing, MI there are deals to be had. East Lansing/walking distance to MSU too expensive, but 5-10 minutes away is cheap...
Chris
Stay as close to home as possible, maybe a state or
two away. once bitten, twice shy.