1031 Real Estate Apartments Tax-Deferred Exchange

Adams County Colorado 1031 Tax-Deferred Exchange Programs

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Adams County Colorado 1031 Real Estate Apartments Tax-Deferred Exchange

Property Presentation Checklist.

  1. YOUR NAME AND ADDRESS: Make sure you double-check all addresses and phone numbers.  If there is any reason not to provide your own name and address then use a broker or other intermediary.

  2. YOUR PHONE AND FAX NUMBERS: Do not forget the area code.

  3. PROPERTY LOCATION: The obvious information is the street address, city and zip code.  Not so obvious but important are directions on how to get the property.  A sketch or photograph is helpful if that information is a selling tool by showing proximity to important landmarks.

  4. DESCRIPTION: A clear description of the property is always a good selling tool.  "A modern, five-story, blue-glass-covered medical building, one block from Memorial Hospital, consisting of 55,000 square feet of rented offices....".  Descriptions should not oversell the property but be enough to pique the imagination.

  5. VALUE: Unless the property is very expensive, or some other kind of property where the price would be misleading in view of the other information (such as an apartment house priced at $ 200,000 per apartment with monthly rents of only $ 1,000 per apartment), you should always include the price.  By putting the price in a presentation you qualify the prospects.  The price you establish should be supported by the other information.  Overpriced property just sits on the market until someone comes along and makes you an offer you will take.   If you are in no hurry and have all the time in the world, you can, as conditions suggest, increase the price (value) of the property.

  6. DEBT AND DEBT SERVICE: How much is the mortgage and who holds it? If there are several mortgages on the property, list them all, for example: "as of July 31, 1991, the first mortgage of $ 250,000, payable at $ 2,500 per month at 12 percent interest only for a remaining 10 years is held by United First Federal Savings and Loan".  It is not necessary to go into great detail.  If there is a balloon payment, be specific as to the actual date of the balloon.  If there is a balloon payment of $ 100,000 due in three years with continuing interest-only payments until the last payment at the end of the 10th year, you would say "As of July 31, 1991, there is a first mortgage, held by United First Federal Savings and Loan, of $ 250,000 payable interest only at 12 percent per annum, monthly payments of $ 2,500 until July 31, 1994, at which time $ 100,000 of principal balloons.  Payments are then $ 1,500 per month (interest only at 12 percent) with the final principal due in full on July 31, 2001". Mention other details only if they are a sales tool, for example a mortgage that could be subordinated to additional financing without being paid off.

  7. BENEFITS: You may list all the benefits as you see them, or be more specific as to the potential taker you are making the presentation to.   You would approach a fast-food chain with different benefits than you would a car dealer, even though many of the attributes of the property would appeal to both.

  8. YOUR MOTIVATION: In essence, why are you disposing of this property? The obvious answer is that the property is not doing for you what you want it to accomplish.  This suggests something negative about the property; you need to be positive in your motivation.  "Owner wants to acquire larger apartment complex" or whatever goal you want to obtain is best.  By giving the specific directions you want to go, you open the door to other real estate investors who may have what you want and who are willing to take what you have to meet their own goals.

  9. PREFERENCE TO BUY/EXCHANGE: This is an extension of your motivation.  If you have a clear need then state it.   "Owner wants to open new fast-food restaurants in Denver Colorado and will take one or more commercial locations in exchange".

  10. STATE THAT YOU ARE THE OWNER: If you are making the presentation yourself rather than using a broker, be sure you make clear that you are the owner.  "For sale/exchange by owner" generally does the trick nicely.

  11. WHAT YOU CAN ADD: If you have other property or items, including cash, that you can add to acquire a larger property, list them.  For example, "To exchange up, owner can add other Colorado and California real estate, value to $ 550,000, plus up to $ 50,000 cash".  The word "cash" always attracts attention.

FOR ALL OF THE INFORMATION YOU WILL NEED, PLEASE CONTACT:

Dick Palmer

METRO DENVER COLORADO COMMERCIAL PROPERTY

Pathfinder

Investment Corporation

2953 S. Peoria St.

Suite 101

Aurora, Co 80014

DIRECT TELEPHONE: 303-759-8500

E-MAIL: sales@landoffice.com

FAX: 303-759-8400

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This material is designed only to provide information concerning I.R.C. Section 1031 Tax-Deferred Exchanges.  It is not intended to provide or replace legal, accounting or other professional counsel.

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