When There Is No Wind -- Row!

When There Is No Wind -- Row!   Ancient Chinese sailing proverb

Times are tough for everybody right now and I am no exception. I have eternal optimism for the commercial real estate market but seeing college tuition on the horizon for our two children, I have officially announced the launching of Ted Klumb Owner’s Representative, LLC. www.tedklumb.com

Ted Klumb Owner’s Representative, LLC, “TKOR” will provide turnkey services to financial institutions for their non-performing commercial and residential real estate. Those services include simple board ups, repairs, cosmetic improvements, and property management while getting the properties on the market and sold quickly. It is also an opportunity for my Equity clients to have access to a much larger source of buyers.

TKOR’s objective is to provide a financial institution with a single source, low cost vendor to preserve the value of their non-performing real estate while selling it as rapidly as possible. “Property preservation” is the new term, used by many in the real estate world, to describe the process of keeping the value of a property by not letting bad things happen to it like pipes bursting, vandalism, etc. before you can sell it.

My plan is to give banks and credit unions more time to generate business and reduce or eliminate their duties as property caretakers. They have told me they want to concentrate on generating new business instead of fixing old business.

“Yes, we can do that!” is my company motto. “That” includes creating a strategic plan to move properties off the books while collecting rent, finding tenants, snowplowing, making cosmetic changes (so the properties show better), list the commercial or residential properties for sale and get them sold.