News
JUST 10 THINGS?
June 17, 2010
| The seminar title was '10 Things You Need to Know About Distressed Assets,? but we prefer ?How I Learned to Stop Worrying and Love the REO.? | |
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| On hand at the Atlanta Realtor Center yesterday with ideas for just under 100 attendees were Marcus & Millichap?s John Leonard, Trimont Real Estate Advisors? Chad DeFoor, Carter's Eli Green, and Coleman-Talley?s Harrison Coleman. Green says it's ?intuitively wrong? that some distressed assets have zero acquisition value after comparing current market value to replacement cost, time, and cost to stabilize the property, plus carrying costs. ?But that's what a lot of buyers are up against.? | |
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| Another tip (and not just for CRE brokers either): make friends with bankers, says Chad, center, after the event with Coldwell Banker Commercial's Jeff Davis of and KW Commercial's Holt Moore. With banks still holding billions of dollars in distressed assets, brokers should be building or leveraging relationships. ?When the lending wave comes back [banks] are going to have all these assets they won't know what to do with,? Chad says. | |
