The final podcast in the making the most of your investments series is here!
Today we wrap up the series with a discussion of tailoring your strategy of finding buyers for your property to your specific situation. Let’s take a look!
René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker
Making the Most of Your Investment Properties – Part 11
Marcia Edwards: Let’s talk about commercial real estate investment properties and finding the buyers, what do you do? You have a customized marketing strategy, I understand that seems extraordinarily successful in your niche in the market. René, talk to us about that.
Rene Nelson: So when a seller wants to sell for top dollar, what I wanna do is help them put their best foot forward, so what I’m gonna do is create a custom marketing package or an offering memorandum for your property.
Now, I specialize in five units and larger, Marcia does one to four family, I do five units and larger and my real niche is about 10 to 20 units because that’s typical in the Eugene, Springfield market. And what I do is I put together a comprehensive… I basically paint the picture of your property to the buyer and here’s why I do that, because we do not want a bunch of buyers calling saying, “Oh, I just have to have this property, but I wanna walk through every unit before I make an offer.” The answer is, “No, not happening.”
Marcia Edwards: Well, that comprehensive memo is priceless. I’ve been on the other end of that when someone has good, valid information, they’ve done the property inspection or gotten eyes on the units for you, you could have your buyer qualified really well and specifically before having an offer and the more qualified the buyer is before the offer, the less likely you’ll miss a real opportunity for a false one.
Rene Nelson: Absolutely. And I was a lender for 23 years before I joined the dark side into commercial real estate, and I’ve really learned how to talk to a lender to confirm that that buyer is pre-approved and solid. So I’m gonna make sure that that buyer does not waste your time and that the deal falls out in 30 days.
So part of my job is to, A, make sure that there’s no deferred maintenance that the lender is gonna call out and then once we go under contract and we have an accepted offer, I wanna pre-screen and talk to the lender that has said that buyer is pre-approved, I wanna talk to that lender and find out how deep are they into the loan approval process.
Marcia Edwards: Let’s talk a little bit about the platform we live on now, which is online. Investors are not necessarily local, so what’s the platform you use for marketing the properties online?
Rene Nelson: I use several national and regional platforms, one is CoStar, it’s a proprietary software but it blasts out to every commercial real estate broker that’s a CoStar subscriber. I also use RealNex, same situation. It goes over to 60,000 brokers nationwide.
Marcia Edwards: So if you hit a broker you probably hit more than one buyer, so you’re getting a lot for your bang on the buck there.
Rene Nelson: Yeah.
If you’re looking to part with your investment property, René can help you make the most from your property’s sale. Schedule a 15-minute discovery call to better understand your investments and the market today.
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