Profile: Employs Certified Residential Appraisers With Over Fifteen Years Of Experience.
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Ad/Listing Information
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Contact Information |
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| Seller Or Contact: |
Dave Haug, Broker
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| Primary Phone: |
858-391-3388 |
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| Alternate Phone: |
None Given |
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| Email Address: |
Email This Advertiser |
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| Date Started: |
11/3/08 |
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| Date Last Revised: |
11/3/08 |
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| BizBen Ad #: |
127968 |
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| Financial Information |
Detailed Information |
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| Asking Price: |
$75,000 |
| Down Payment: |
$75,000 |
| Annual Revenue: |
$177,496 |
| Annual Adjusted Net: |
$45,016 |
| Price Range: |
$0 to $100,000 |
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| Franchise: |
No |
| Relocatable: |
No |
| Home Based: |
No |
| Real Estate Included: |
No |
| Bkr To Bkr Coop: |
Call |
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Description:
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Summary
This Appraisal Company Recognizes That Performance Is Measured Through Quality And Customer Service. The Business Employs Certified Residential Appraisers With Over Fifteen Years Of Experience. The Mission Is To Provide Timely, Thorough, And Professional Real Estate Appraisals For Its Valued Clientele. The Business Services Single-Family Homes, Condominium Units, And Two To Four Unit Small Income Properties. Geographical Areas Covered Are The Counties Of Los Angeles, Orange, East Ventura, And Northern San Diego As Well As The Inland Empire. The Real Estate Market Has Been In A Slump For The Past Couple Of Years; Nonetheless, This Company Has Been Able To Maintain, Although Revenues Are Down Roughly 30-35% From The Peak Of 2005. This Business Offers An Excellent Opportunity To Purchase A Book Of Business While The Market Is In A Downtrend. It Has An Excellent Reputation In The Market And Offers An Enterprising Buyer The Opportunity To Expand At A Very Reasonable Price.
Marketing
The Company Does Appraisal Work For Mortgage Brokers, Banks, Attorneys, Accountants, And Real Estate Agents. Marketing Is By Word Of Mouth, By Long Standing Clients, And Referrals. The Company Has Also Done Numerous Appraisals For High-End Clients In Los Angeles. There Is Also A Website. The Seller Readily Admits That A Concentrated Effort At Marketing The Business Would Produce Positive Results Even In The Current Down Market Because Of Its Excellent Reputation In Its Field.
Strengths & Opportunities
The Strength Of The Business Is Its Superior Service, Strong Organizational Structure, And Turn-Around Time. While The Real Estate Market Has Been In Slump For The Past 2 Years, The Business Has Been Able To Stabilize Sales This Year Relative To 2007. Many Appraisers Have Either Gone Out Of The Business Or Closed Shop. The Company Has Been Able To Survive And Will Be In Excellent Position To Grow When The Real Estate Market Bottoms Out.
Hours & Staffing
Hours Are 8:00 Am- 5:00 PM Monday - Friday With Some Weekend Work.
Area, Facilities & Equipment The Office Is Located In A Strip Mall Where The Seller Currently Leases 1200 Sq. Ft. At A Gross Rent Of 2,096 Per Month; However, Part Of This Space Is Sub Leased Resulting In A Net Of 500 That The Seller Pays In Rent Per Month. The Current Lease Expires In September. This Office Complex The Business Is Currently Located May Be Demolished And Rebuilt By The Landlord. While This Is Not A Certainty, It Is A Distinct Possibility.
Company History
The Seller Started The Business In 1994 And Has Enjoyed Consistent And Above Average Growth Up Until 2006 When The Bottom Fell Out Of The Market. The Seller Has Forged Strong Relationships Over The Years, Thus Has Been Able To Weather The Recent Downturn In A Reasonable Fashion.
Financial Summary
The Business Has Experienced Declining Revenues 2006 Forward As Have Every Other Business Related To Real Estate. However, 2007 Was A Breakeven Year And The Seller Reduced Expenses For 2008 And Maintained Revenues To Show A Positive Bottom Line. The Seller Is Willing To Finance A Portion Of The Purchase Price At A Reasonable Interest Rate For A Period Of 12 - 18 Months.
Other Comments
The Seller Would Be Willing To Stay On For A Period Of Time In Order To Insure An Orderly Transition. Since The Majority Of Revenues Are Made Up Of Five Clients, The Seller Is Of The Opinion That His Presence Would Enhance Retention Of These Clients. In Addition, The Seller Has Done Minimal Appraisal Work Over The Last Couple Years And Has Left This Up To His Employees.
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For More Info Call: (Please Mention You Saw This Ad On BizBen):
Dave Haug, Broker at 858-391-3388 Non Disclosure Agreement |
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