All,
I have been trying to move a few homes here in the Portland area for the last 6 months. It has been tough and I have been searching material online to give me an edge.
I found an online program that has been extremely effective for me in drawing foot traffic to my properties and I have even sold a couple of them now. I am using it as an FSBO, but a realtor friend of mine that I referred it to, says it works great for him too. It teaches you to write the advertisements as well as keep potential buyer's interest.
To check it out Click Here!
Also, I want to make it clear that I am not affiliated with this company in any way.
I want to keep all of you informed around that country that there are great things going on in the market here in Portland, OR.
Infill development has become very profitable here, even in a slower market. There seems to be incredible demand for new homes close in to town, which in turn is creating huge demand for new small lots divided from existing property. I was curious if this is a good business anywhere else in the country.
I have been involved in this business for a while and have been shocked by how well it has held up with all the strugles we have seen lately. There is a lot of opportunity for others to get involved with this in Portland.
If anyone would like more information on this, feel free to call me or send me and email and I can let you know what we are doing here.
A lot of our clients come to us undeducated on the difference between "hard money" and "private money".
However, we find many advantages with private money. First of all, most private money lender/investors to not have pre set guidlines. In most cases all borrowers and projects are looked at on a case by case basis. They do not have to fit a certain box. Hard money is much more like a conventional lender. They do have pre set guidlines in most cases and require minimum qualifications.
Secondly, private money investors can be much more reasonably priced. In some cases, they will even lend money with no fees.
However, there are many uses for hard money also. In some cases, a deal is very similar to a convential sittuation but the borrower does not qualify. In this case, hard money may be a better fit.
I have many clients often asking for an easement form they can use.
Here is a blank one that I have that works well.
EASEMENT
Between
XXXXXX
XXXXXX
XXXXXX
And
XXXXXX
XXXXXX
XXXXXX
After recording, return to:
XXXXXX
XXXXXX
XXXXXX
THIS AGREEMENT made and entered into on ______________________________, 200_ by and between XXXXXXXX, hereinafter called the first party, and XXXXXXXX, hereinafter called the second party, WITNESSETH:
WHEREAS: The first party is the record owner of the following described real property in Multnomah County, State of Oregon, to-wit:
GRANTOR PROPERTY DESCRIPTION
and has the unrestricted right to grant the easement hereinafter described relative to the real estate; and the second party is the record owner of the following described real property in that county and state, to-wit:
GRANTEE PROPERTY DESCRIPTION
NOW, THEREFORE, in view of the premises and in consideration of $_________________
by the second party to the first party paid, the receipt of which is acknowledged by the first party, it is agreed:
The first party hereby grants, assigns and sets over to the second party a private ingress, egress and driveway easement over the following described portion of first party's property, to-wit:
INSERT EASEMENT AREA DESCRIPTION
The second party shall have all rights of ingress and egress to and from the real estate (including the right from time to time, except as hereinafter provided, to cut, trim and remove trees, brush, overhanging branches and other obstructions) necessary for the second party's use, enjoyment, operation and maintenance of the easement hereby granted and all rights and privileges incident thereto.
Except as to the rights herein granted, the first party shall have the full use and control of the above described real estate.
The second party agrees to save and hold the first party harmless from any and all claims of third parties arising from the second party's use of the rights herein granted.
The period of this easement shall be in perpetuity, always subject, however, to the following specific conditions, restrictions and considerations:
NONE
During the existence of this easement, maintenance of the easement and costs of repair of the easement, if damaged by natural disasters or other events for which all holders of an interest in the easement are blameless, shall be the responsibility of the second party.
During the existence of this easement, holders of an interest in the easement who are responsible for damage to the easement because of negligence or abnormal use shall repair the damage at their sole expense.
This agreement shall bind and inure to the benefit of, as the circumstances may require, not only the parties hereto but also their respective heirs, executors, administrators, assigns, and successors in interest.
In construing this agreement, where the context so requires, the singular includes the plural and all grammatical changes shall be made so that this agreement shall apply equally to individuals and to corporations.
IN WITNESS WHEREOF, the parties have hereunto set their hands in duplicate on the day and year first written above.
I know this can be an uncomfortable subject for many business professionals. But I always recomend that all parties to any transaction sign a non disclosure for the benefit of the other party.
Here is a form we have developed that has worked very well.
NON-DISCLOSURE AGREEMENT
1. PARTIES. This Agreement is between Disclosing Party (Wilde Schneider and Associates LLC), the Disclosing Party of certain confidential information, and Receiving Party (), the Receiving Party of certain confidential information.
2. BACKGROUND AND PURPOSE OF DISCLOSURE.
Disclosing Party and Receiving Party are evaluating or are engaged in a business relationship (the "Projects"), during which Disclosing Party may disclose certain valuable confidential and proprietary information. Receiving party shall not do business with clients that disclosing party brings to receiving party without including disclosing party
3. DESCRIPTION OF CONFIDENTIAL INFORMATION.
Confidential Information, whether disclosed in written, oral, visual, or tangible form, disclosed by Disclosing Party to Receiving Party shall be subject to the provisions of the Agreement when: (a) the information is disclosed in written
form which is marked confidential; or (b) the information is disclosed orally or visually (such as through visits to facilities of the Disclosing Party) and is identified at the time of disclosure as being confidential, and within thirty (30) days thereafter, a written summary of such oral or written disclosures is provided to the Receiving Party; or (c) when disclosed in tangible form (such as product samples), it is identified at the time of disclosure as being confidential. Moreover, Confidential Information shall also include (whether marked confidential or
not) data regarding the quantity, price, delivery, or other commitments or proposals between the parties.
4. AGREEMENT TO MAINTAIN CONFIDENTIALITY. The Receiving Party agrees to hold any Confidential Information disclosed to it in confidence, to cause its employees, agents or other third parties to hold such Confidential Information in confidence, and to use the same standard of care used to protect its own proprietary and confidential information in protecting the Confidential Information. Receiving Party shall not disclose Confidential Information to others or use it for purposes other than the Project(s).
5. EFFECTIVE DATE AND LENGTH OF OBLIGATION. This Agreement is effective as of the last date of execution by both
parties and may be terminated by either party at any time upon written notice. Parties obligation of confidentiality and non-use of Confidential Information hereunder shall last for five (5) years from the date of such written notice.
6. EXCEPTIONS TO CONFIDENTIAL INFORMATION.
Confidential Information shall not include any information which (a) was publicly available at the time of disclosure; (b) became publicly available after disclosure without breach of this Agreement by either party; (c) was in parties' possession prior to disclosure, as evidenced by parties' written records, and was not the subject of an earlier confidential relationship with the other party; (d) was rightfully acquired by party after disclosure by the other party from a third party who was lawfully in possession of the information and was under no obligation to the other party to maintain its confidentiality; (e) is independently developed by the parties' employees or agents who have not had access to the Confidential Information; or (f) is required to be disclosed by the party pursuant to judicial order or other compulsion of law, provided that the party shall provide to the other party prompt notice of such order and comply with any protective order imposed on such disclosure.
7. RETURN OF CONFIDENTIAL INFORMATION.
At any time, requested by one of the parties, the other party shall return or
destroy all documents, samples or other materials embodying Confidential Information, shall retain no copies thereof, and shall certify in writing that such destruction or return has been accomplished.
8. DISCLAIMER OF OTHER RELATIONSHIPS.
This Agreement does not create a relationship of agency, partnership, joint venture or license between the parties. This Agreement does not obligate either party to purchase anything from or sell anything to the other party, and each party acknowledges the other party may enter into (a) other similar activities and/or (b) business relationships with third parties, provided no Confidential
Information is disclosed or used by either party.
9. GOVERNING LAW.
This Agreement shall be governed by and construed in accordance with the laws of the State of the Disclosing Party, without reference to conflicts of law principles. The parties hereby submit and consent to the jurisdiction of the
federal and state courts of the state referenced in the preceding clause for purposes of any legal action arising out of this Agreement.
10. AMENDMENTS.
This Agreement supersedes all previous agreements between the parties regarding the Confidential Information and cannot be canceled, assigned or modified without the prior written consent of the Parties.
11. BREACH.
If either party breaches the term(s) of this Agreement, the other party shall have the right to (a) terminate this Agreement and/or demand the immediate return of all Confidential Information; (b) recover its actual damages incurred by reason of such breach, including, without limitation, its attorneys fees and costs of suit as well as profits obtained by the breaching party as a result of misusing the Confidential Information; (c) obtain injunctive relief to prevent such breach or to otherwise enforce the terms of this Agreement; and (d) pursue any other remedy available at law or in equity. Failure to properly demand compliance or performance of any term of this Agreement shall not constitute a waiver of the parties' rights hereunder.
I thought by now that we would be seeing bank owned property going for 50 to 60 cents on the dollar. But I am not seeing it. Either the banks aren't desperate yet, or they just aren't ready to justify losses like that.
Are you other investors finding the same thing, or have you found that secreat source for half price property? I know that hedge funds and banks are letting them go that cheap if you can buy in numbers, but no single buys are going that way.
So far, I really like what I see on this site. I can see that there is definately a valuable networking resource here. Also, it seems that one could find advice about anything profesional here.
Anyway, I was wondering if a few of you vetrans could get back to me and let me know what other helpful qualities that you have seen in this site.
I have had a few of my clients ask me to post my commercial loan application online for them so that they don't have to keep asking for it. So for all of you, here it is.
COMMERCIAL LOAN APPLICATION
CREDIT REQUESTED
Amount Requested
Term of Credit Requested
Loan Type:
Line of Credit Business expansion
Equipment purchase Furniture or Fixtures
Refinance (please specify) SBA
Other (please specify):
App. #
Specify all intended uses of loan proceeds (if more than one):
Does borrower(s) have any unpaid taxes or judgments?
Yes No
If yes, please explain:
Ownership Percentage
Purpose of Credit Requested
Credit Request Applicant Only
Joint with Co-Applicant(s) ______ ______
It is our intent to apply for joint credit initials initials
COMPLETION INSTRUCTIONS FOR APPLICANT
Complete the Applicant information for the first Applicant. Mark the appropriate box to indicate whether the Applicant is applying as a Borrower, Guarantor, Cosigner, Grantor (of collateral), or Other for a different capacity. If the Applicant is a married individual, he or she may apply for individual credit. (Do Not complete Marital Status question below if application is for individual unsecured credit)
APPLICANT INFORMATION:
Applicant is a: Borrower Guarantor Cosigner Grantor Other
Name of Applicant (Business Name or Last Name if Individual
Applicant First Name (If Individual)
SSN/TIN#
Main Contact Phone Number
Filing Dates
Filing Locations
DBA Name
Please describe the nature of the business in which the borrower is engaged:
Check Appropriate Box
If you are applying for individual credit and are relying on your own income or assets and not the income or assets of another person as the basis for repayment of the credit requested, do not complete the section for marital status.
If you are applying for individual credit, but are relying on income from alimony, child support, or separate maintenance or on the income or assets of another person as the basis for repayment of the credit requested, complete all sections to the extent possible, providing information about the person whose alimony, support maintenance payments or income or assets you are relying.
If you are applying for joint credit with another applicant, complete all sections and attach joint application.
Marital Status (If Individual Borrower)
Married
Unmarried
Separated
Street Address
City
State
Zip Code
Mailing Address
City
State
Zip Code
Principal Office Address (if not listed above)
City
State
Zip Code
State of Organization
Applicant is:
An Individual
A Proprietorship
A Partnership
A Corporation
Non-Profit
An Association
A Trust
A Gov't Entity
A LLC
SCHEDULE OF COLLATERAL OFFERED BY THIS APPLICANT
Description
Value
Total Liens
Ownership Status of This Applicant
Creditor Name (if any)
$
Purchase Money
Presently Owned
$
Purchase Money
Presently Owned
$
Purchase Money
Presently Owned
Use Additional Sheet if Necessary
RELATIONSHIP INFORMATION - APPLICANT'S HISTORY WITH LENDER
New Customer
Existing Customer
Customer Since (MM-YYYY):
Last Financial Statement Date (MM-DD-YYYY):
Last Tax Return Date on File (YYYY):
Last Credit Report Date (MM-DD-YYYY):
Last Credit Bureau:
How Many Years in Business usiness:
Any bankruptcies in last 10 years? Yes No
Any current or pending law suits or judgments? Yes No (If yes, please explaing)
Liabilities with Lender
Deposits with Lender
Total Credit With Lender
Direct:
$
DDA Avg:
$
New Credit:
$
Contingent:
$
Other Avg:
$
Proposed Total:
$
Total:
$
Total Avg:
$
LIST ALL GUARANTORS AND/OR AUTHORIZED SIGNERS FOR THIS APPLICANT
Name
Title
Authorized Signer
Guarantor
SSN or TIN #
Street Address
City
State
Zip Code
Name
Title
Authorized Signer
Guarantor
SSN or TIN #
Street Address
City
State
Zip Code
Name
Title
Authorized Signer
Guarantor
SSN or TIN#
Street Address
City
State
Zip Code
Name
Title
Authorized Signer
Guarantor
SSN or TIN #
Street Address
City
State
Zip Code
Name
Title
Authorized Signer
Guarantor
SSN or TIN#
Street Address
City
State
Zip Code
Name
Title
Authorized Signer
Guarantor
SSN or TIN #
Street Address
City
State
Zip Code
Use Additional Sheet if Necessary
APPLICANT SIGNATURES
I/We hereby apply for the loan or credit described in this application on behalf of the applicant business. I/We certify that I/we did not omit any important information. I/We agree that any property securing the loan or credit will not be used for any illegal or restricted purpose. Lender is authorized to verify with other parties and to make any investigation of my/our credit, either directly or through any agency employed by the Lender for that purpose. Lender may disclose to any other interested parties information as to Lenders' experiences or transactions with my/our account. I/We understand that Lender will retain this application and any other credit information Lender receives, even if no loan or credit is granted. These representation and authorizations extend not only to Lender, but also to any insurer of the loan and to any investor to whom Lender may sell all or any part of the loan. I/We further authorize Lender to provide any such insurer or investor any information and documentation they the may request with respect to my/our application, credit or loan.
For anyone needing a great 24hr notice to enter property form.
Here is one that I have chopped up and developed.
Notice of Intent to Enter
Tenant Name:
Street Address:
City/State/Zip:
The terms of your rental agreement specify that the owner/property manager may enter the property you are renting to perform management duties. This is only done after giving reasonable advance notice of at least 24 hours.
This letter serves as 24-hour notice that the owner/property manager intends to enter the premises you are renting at the address noted above for the purpose of .
Date of entrance:
Approximate time of entrance:
Duration of stay:
If you will be available at the time above, please let the owner/property manager know. However, it is not necessary that you be on the premises at the time of entry. The owner/property manager will use a master key to gain entrance if no one is home.
Change of Lock Notice: If the owner/property manager is unable to enter because the Tenant has changed or rekeyed locks, owner/property manager will use a locksmith to open the door and locks will be rekeyed. A new key will be given to Tenant, who will be charged for the service.
If you have any questions, or if the date or time listed above is inconvenient, please notify us by , 20 , so that we can attempt to schedule an alternative time that would be better for you. You may call us at between a.m. and p.m. on the following days: .
We will need to enter your residence, however, no later than .
I get a lot of new comercial investors asking me to teach them how to value a property working backwards with a known cap rate and a known net annual income.
It is actually very easy.
First, figure your net operating income. This is your annual income from the property after all hard expenses; such as, management, vacancy, taxes, insurance, maintanance, etc. Remember, mortgage interest and principle should not be a part of these figures.
Example
Gross Annual Income: $ 100,000.00
Annual Expenses: $ 40,000.00
Net Annual Income: $ 60,000.00
After, you calculate you net annual income, divide the number by the cap rate you are using.
Example
Net Annual Income: $ 60,000.00 divided by 6.5% cap rate = a property value of $ 923,077.00
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
