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Exchangor Meetings

Example Moderator Questions & Prompts

Property Details

  • Paint us a quick mental picture of the category of property being offered.

  • In about 3 sentences, give us a concise description of the property.

  • What is the current occupancy?

  • What is the primary cause of the current vacancy?

  • Are the existing rents at current market levels?

  • What are the current rents, what is the potential increase and how long will that take?

  • Is there management available to accommodate an absentee owner?

  • What utilities are to the property?

  • What utilities can be brought to the property and what would be the cost?

  • What deferred maintenance exists and what would be the cost to correct it?

  • What is the highest and best use of this land/site/redevelopment property?

  • What specific entitlements have to be obtained to develop the property for the proposed use?

  • How did you arrive at the presentation price of the property?

  • Is the debt shown on the package an existing debt or proposed new financing?

  • Is the property truly free and clear?

  • How readily saleable is the property?

  • What are the approximate terms of a sale if necessitate within 60-90 days?

  • What potential and/or opportunity may exist in the property that you feel can be achieved by a taker?  i.e. increased cash flow, fixer-upper, convert the use, develop, crank

  • Probe questions based on the type of property: a) units - income & expenses  b) vacant land          c) topography

  • Explain in detail the financing. i.e. due dates, crank-ability - how much? de-finance possibilities  where can current mortgages be moved?

Benefits

  • What is the primary benefit provided by this property?

  • What is the primary reason that someone would want to own this property?

  • When you say, 'UPSIDE", does that mean that the property will substantially increase in value in a matter of months or a couple of years? Why?

  • Is the cash flow benefit presented based on the current NOI?

  • Do you have market data or a market study to support the feasibility of developing the property?

Owner Details

Tell us specifically what you might do to help us complete a transaction.

In order to complete a transaction, do you see your client:

  • Carrying back Seller financing?

  • Adding cash (amount?)

  • Remaining on the existing debt?

  • Adding other equities or assets to make a larger transaction?

  • Helping a taker qualify for new financing?

  • Continue to manage the property?

  • Leasing back vacant space?

  • NNN master leasing back the property?

  • Leasing back the vacant land or developed vacant site?

  • Guaranteeing the NOI for some period of time?

  • Taking a problem property for equity?

  • Guaranteeing the cost of renovation or completion of a project?

  • Making the mortgage payments for some period of time?

  • Adding mortgage or other notes?

  • Dividing the property?

  • Remaining as a “Partner” in the property for part of the equity?

  • Adding services of value? What services?

  • Accepting “created paper” on other property for part or all of the equity?

  • Accepting an unsecured note for part or all of the equity?

  • Agreeing to an extended contingency period for a taker to obtain entitlements?

  • Obtaining the entitlements for the property?

  • Assisting in obtaining entitlements for the property?

  • Providing fill for the property?

  • Mitigating wetlands or other environmental restraints on the property?

  • Paying all the closing costs and/or commissions?

  • Lease-Optioning the property?

  • Closing at a reduced price with an option to repurchase?

  • Accepting a charitable tax deduction for all or part of the equity?

  • Accepting participation in another project for all or part of the equity?

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Relate facts about the client which will be of assistance for us to solve their problems:

  • Income

  • Keen interests

  • Family size and/or relatives - how can they help with money or working capital?

  • Type of employment

  • Experience in other properties

  • Relevant personal observations

  • How and why was the property acquired?

  • How long have they owned it?

  • Why does client wish to exchange the property as opposed to selling it?

  • To what extent is your client capable of adding cash?

  • What has your client indicated they would do to obtain their objective (solve problems, make a geographical move, etc.?

  • To what extent is your client geographically limited? Why?

  • What capabilities does your client have to sustain a reverse cash flow position?

  • What in the way of other properties, real or personal, will your client add to achieve his goal?

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Objective

  • What is the client's objective?

  • Why has the client chosen to dispose of the property

  • What does the client need?

  • What solutions have you formulated that would move your client toward their objective?

  • What offers has the client rejected/accepted?

  • How do you feel we can best help your client?
  • What benefits does your client feel they are receiving from the property?
  • Why did you bring the package to the NMCE meeting?
Solutions

  • Are there any part of the property/client objectives that are unclear before we go into solutions?

  • Who has a package that meets the benefits the client is seeking?

  • Who has a client seeking the benefits in this package?

  • What other creative solutions are available? Who can write to that solution?

  • How many are not writing?

  • What would you have the client do so you could write an offer?

Formulas

  • Add sweetener

  • Broker a taker

  • Build to suit

  • Buy back

  • Charitable Trusts

  • Condo out

  • Conversion
  • Creation of paper
  • Definance
  • Joint Venture
  • Lease back
  • Loan back
  • Option
  • Overtrade
  • Rezone
  • Separate the interest
  • Subdivide
  • Syndicate
  • Time Share
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