Hire Derrick To Sell Your Building
Hire Derrick To Sell Your Building
It’s crucial to hire the right broker when it’s time to sell your apartment building. I created a report to give you some background on me, and why I may be the right broker to sell your building.
In 33 years of real estate sales I have accumulated a lot of specialized knowledge and experience including:
Although I don't focus on residential, my first 15 years in the business was residential sales. I still do a handful of residential sales, mainly probate and rental houses that my investors own.
I have focused on investment property sales for the last 18 years. Some of my specialized apartment brokerages knowledge includes:
Rent Control and Tenants
Unless your building is in Culver City or Inglewood, rent control is a fact of life for most LA apartment owners. I understand the byzantine rent control rules that often burden landlords and how to work around them. I know how to deal with even the most difficult tenants while I market your property and during escrow.
I rarely have issues with tenants. I’m always polite, fair, but tough with tenants and have a knack for getting them to cooperate with me. I always follow the letter of the rent control laws so you and I stay within the law. This is crucial because many deals have been derailed by difficult tenants who think they “own” the building because they have been there so long. With attorneys and tenant’s rights organizations, tenants often think they can extract money and concessions when you sell. Not on my watch.
I’m a Numbers Guy
Listing and selling investment property is all about the numbers. Investors considering your building are looking to me to supply pertinent and accurate numbers and analysis on how your building stacks up to the competition and why they should choose your building. When considering selling, you need an analysis of the right data to determine where it should be priced. Things like Gross Rent Multiplier, average dollar per unit, average dollar per square foot, cap rate, cash on cash, and upside rent potential, are critical metrics to understand when considering selling your building. Should you contact me to potentially sell I’ll prepare a very detailed spreadsheet to see how your building compares using these important metrics.
Understanding commercial finance is a crucial skill for an investment broker. I work closely with several top lenders and over the last couple of decades have come to really understand the commercial lending game. There are a lot of variables when it comes to financing a building and sometimes you have to be a little creative and know which lender to send the loan to.
One of the things I do upon taking a listing is to get a loan quote from my lender in order to let any potential buyer know the approximate down payment is required. This helps cut down on offers from unqualified buyers.
Probate and Trust Sales
Listing and selling probate and trust property is a niche that requires specialized knowledge and experience. You need a pro when you are tasked with selling an inherited home or building and distributing the proceeds to the heirs. I have a lot of inherited property experience and I am very familiar with the Los Angeles County Superior Court, how the probate courts operate, and how all the various arcane probate rules and regulations work. Baby boomers are inheriting billions of dollars of real estate from their “Greatest Generation” parents and those that choose to sell need an expert who knows how to handle inherited property.
If you are the executor or trustee and have inherited property to sell, call me and let’s talk. I’m sure I’ll have a lot of real world advice for you so that the process of selling goes smoothly.
The development world is another specialized niche market. For the last several years I have been working with landowners, architects, engineers, and builders analyzing potential development deals. Maybe you own a large parcel with the right zoning and want to know how much it is worth. Maybe you are in the entitlement process and want me to find a builder to purchase it and go vertical. Maybe you are a builder and you need me to find you a RTI project so that you can start building right away.
Give me a call and let’s talk. I’m sure I’ll have some great ideas about your potential project or how to find a good one for you if you are a builder.
Property Marketing Specialist
Here’s my philosophy on marketing your building: My job is to expose your building to the entire universe of potential buyers and generate multiple offers that gets you the highest possible price.
I do that by a combination of traditional, high tech, and high touch methods. Traditional methods like the MLS, LoopNet, Costar, direct mail, and custom signage. High tech includes social media, customized websites, and direct email campaigns to my investor database. High touch means creating a compelling narrative about your property that evokes emotion in a potential buyer.
I’m a Native Angeleno
I love my city. LA is the leader in so many ways and industries. People here are creative, dynamic, and driven to succeed. So many new things come out of our city and we set trends for the country and even the world.
I was born in LA and have lived in California my whole life. Does this matter? Some might say no, but I believe it does matter. I believe that my native knowledge of the “City of Angeles” absolutely makes me a better broker.
LA is huge. It takes years to learn all of the various areas. From the beaches to the Westside, to Downtown LA, to the valley, to the Eastside, to Silver Lake, to Hollywood, to the South Bay, to South LA, to Malibu, and Inglewood. I have experience in all of these areas of our great city. Don't miss part 2 of Hire Derrick To Sell Your Building:
Part Two - How I Market and Sell Your Building
Thanks for visiting my website, I really appreciate it. Hopefully you’ll decide that I’m the right guy to sell your property. Call me anytime and let’s have a conversation. Or send me an email at email@example.com. I’m here to help you. Thank you.