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Prosperity Asset Marketing, LLC
RAML Transactions Completed:
We have had hundreds of successful marketing assignments and sales; along with standard and creative acquisitions over the years some of which consisted of straight cash transactions. We creatively remove obstacles for lenders, buyers, sellers including property, finance, & title issues.
Business Transactions: From Golf Courses to Gas Stations from Industrial to Dress Manufacturing.
Business Owner Needed Bridge Loan and a Home: Buyer Representation
We found a home owner that owned their home free and clear of debt and wanted to carry long term financing because they wanted the interest income with their asking price. The homeowner wanted safety. The Buyer had a friend with substantial free and clear assets that would contribute the assets as security for the homeowner loan. The house was delivered free and clear at closing; which was used for a first mortgage home loan. The buyer was able to get a long term affordable owner carry mortgage secured by friend’s asset; and a long term affordable bank loan interest of new cash from a newly secured loan. This created a benefit of new cash for the business and a new place to live.
Real Estate plus Business Auction:
A client wanted to convert currency back to his native country and choose the auction route to get the cash quickly. We had never handled a golf course property like this before. We hired a golf course broker to assist in packaging, merchandising, marketing position, and use of his existing database. The owner suggested this far reaching marketing campaign; we told him his buyer was going to be within 50 miles. The buyer came from next door.
A transaction: A Dentist needed cash; had many commercial land parcels (non-income producing and could not get a bank loan). He quickly needed $40,000 to fund his employee pension fund. I had another financially strong owner that had a rental property with high vacancy in a town not geographically convenient and high unemployment.
• Owner made a loan to Dentist in the amount of $70,000 funded with $40,000 Cash and $30,000 rental property.
• The security was free and clear first mortgage on 80 acres of land near Las Vegas.
• Rate was 14% interest with no payments with interest accruing for 24 months
• The property was sold to a developer and the loan was retired on sale of asset.
• The Dentist never had to make a payment or write the check to pay off the loan.
o It got paid off from the sale of the land.
• The Dentist’s son lived in the same city and was handy
• The Owner made a sale of his rental property and invested his cash in a well secured property
Converting a Seller to a Buyer: No Sales in Four Years; & No Sales in Sight
The Owner had Non-Income Producing Assets (land) and to make matters worse it had debt on it. Payments were made from reserves; now the debt service on the new debt along with the existing debt was affecting the Owner’s lifestyle. The market study forecasted no sales for at least two years; the default future as filled with disaster. We suggested moving investments from non-income producing to Income producing. We made offers on income-producing asset that produce at least a 7% return using land parcels as down payment and placing 70% loans at 4% giving a positive leverage effect.
Luxury Home Assignment: Creative Marketing
Recent transactions include: a SELLER client with luxury home on the market for two years, no action, he was going to dump the property to a wholesale buyer. We came in and within 90 days marketed the property offering terms and trade options, we created multiple prospects, we had multiple offers, and closed all CASH without a discount on the 120th day. We use auction strategies to harness the multiple offers. We now have the assignment to market his additional homes.
Rebuilding Family Relations: Absolute Auction Solution
All closed in 60 days with above fair market value achieved. Property had been on the market for 2 years with no offers. The properties had fractionalized ownership with five siblings in a trust and with an uncle and a cousin, all in their sixties. The ownership had been in the family for over 80 years. An auction was a fair and just way to settle the disputes. The properties were various types, uses and locations. We created a land split combination auction marketing campaign. We offered terms and giving family members the right to bid with offset credits for their percentage interest. Some sold, some bought, new extended relatives bid. They can now focus on being a family.
We had a BUYER; needing seller assistance of a trade-in. As an alternative we negotiated an owner purchased note 10%, plus owner paid closing costs for the buyer, plus possession prior to closing. With the 10% owner investment our buyer could discount the trade-in property and convert to cash. We shopped the entire market picked the top five and got three owners to compete for our buyers needs.
• Owner got Fair Market Value for his property;
• Owner got 100% cash
• Owner invested $75,000 on a note at 6% interest only monthly due in 5 years
• Buyer got the property of their dreams
• Buyer can now sell the trade-in asset and get on with their life
Buyer Needed a Little Help:
Buyer found the home of her dreams. She made an offer. She back out 3 days later. After asking why, she could not get the loan she wanted, and she want to sell her home in another state first. We agreed to give her plenty of time to sell her house; therefore, we accepted a note secured by real estate with no payments, with interest of 6%, due in a year; if she paid off in six months we would not charge her interest. We accepted 65% of the cash plus a free and clear car. She paid off within the six months. We could have sold the note.
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