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    How to Buy, Sell or List a Small Apartment Building
    How to Buy, Sell or List a Small Apartment Building
    How to Buy, Sell or List a Small Apartment Building
    Ebook60 pages53 minutes

    How to Buy, Sell or List a Small Apartment Building

    By Pat Sims

    ()

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    About this ebook

    For Property Owners who want to sell. For new and experienced Investors who want to buy. For Realtors who want to list an apartment building professionally and successfully.
    This eBook will lift the curtain of mystery about investment property values by showing you the most common method of appraisal and the most common ‘Rules of Thumb’. It helps you talk the language of investors by explaining how income properties can produce much more money than the rent and how its potential can be realized.

    Learn how to examine a Rent Roll to discover hidden potential; how Income and Expenses Statements are prepared and may be reconstructed; and how Return on Investment (R.O.I.s) and Cap. rates are determined. See how a properly prepared listing and a marketing brochure will speed the sales process.
    These are things you really need to know about investment real estate.

    LanguageEnglish
    PublisherPat Sims
    Release dateNov 3, 2011
    ISBN9780987840912
    How to Buy, Sell or List a Small Apartment Building
    Author

    Pat Sims

    Pat Sims has been working in real estate nearly all his adult life in Europe, Australia and North America. He has worked as a leasing agent for residential and commercial investors, a real estate salesperson, an appraiser, a property inspector, a land surveyor, a property manager, a developer, and an investor. He has learned from some of the best and most successful minds in the business and has been an educator, author, course designer, and text-book editor for international real estate institutes, associations, and brokerages. He has owned a number of small businesses and was a co-creator of a weekly newspaper that morphed into a daily. His popular seminars have been attended by more than 20,000 people and have ranged across the entire real estate spectrum including residential marketing, commercial leasing and sales, and business brokerage. Today he is a full-time author and publisher of industry self-help eBooks and has dabbled in the uncertain world of fiction. He lives in Nova Scotia and travels widely.

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      Book preview

      How to Buy, Sell or List a Small Apartment Building - Pat Sims

      How to Buy & Sell or List

      A Small Apartment Building

      by Pat Sims

      Smashwords Edition

      Copyright 2011 Pat Sims

      http://www.fromadistancepublishing

      All rights reserved. No part of this eBook may be copied or used without written permission of the author or publisher.

      TABLE OF CONTENTS

      Introduction

      Chapter One: Commercial Real Estate & How do Investors Make their Money?

      Chapter Two: Preparing a Sales Brochure

      Chapter Three: Income & Expenses

      Chapter Four: Determining Value and the Cap. rate

      Chapter Five: Improving an Investment

      Glossary

      Introduction

      The aim of this eBook is to assist buyers, sellers and realtors in the process of making a transaction for a small apartment building or any other small investment property. It examines an investor's needs and motivations so that a good listing brochure can be prepared that will facilitate a sale. It also provides an explanation of current terminology in this sector of the real estate industry and discusses how a property’s value can be determined and how it can be improved.

      The examples and situations provided are for illustration purposes only and do not represent any actual property or person. Any similarities are entirely coincidental. To some people the figures used here may be unrealistically low or high but values are primarily determined by location and it would be impossible to provide any accurate values for every area. The reader is, however, not left dangling as directions are given on how to obtain values for their own locality.

      To many people, commercial real estate is a mystery. What is it? Who owns it? How is it valued? How are rents calculated? How do you measure it? How can a person invest in it? What are typical real estate brokerage fees? What is R.O.I.? What is a cap. rate? What is capitalization? What do all these strange terms mean?

      All these questions will be answered here but it cannot make anyone an expert in marketing investment properties overnight. Residential realtors are skilled in selling homes or land and possibly a small set of flats but few of them get the experience needed to properly market an apartment building, a warehouse, a store or an office building. This book will teach the basics of marketing apartment buildings and it will allow realtors to build on this knowledge to successfully and professionally market any kind of commercial property.

      Caution

      There is a pressing need to caution anyone who provides an opinion of value for real estate to clients. In some jurisdictions it may even be unlawful for anyone other than a professional appraiser to provide this service with or without charging a fee but in any case there is the problem of ‘professional liability’.

      To illustrate the importance of care and duties owed to a client, imagine a realtor is asked to list a group of properties that might include a six-unit apartment building, a corner store with an apartment on the second floor, a gas station, a warehouse, and an adjoining piece of land that is zoned for industrial use, the realtor is sure to be asked the age old question, So what do you think I can get for it?

      Without experience in the commercial sector of the market, the realtor may be tempted to take an ‘uneducated guess’ or just go along with the seller's suggested value of, let's say, 2.5 million dollars. The ‘lucky’ realtor may then list it at 2.75 million dollars in expectation of a an offer below asking price and eventually sells it for the owner’s original figure. So, what could possibly be wrong with

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