One of the business’s most recent acquisitions is a seven-unit apartment complex located at 2547-2561 Lee St. SE in Salem. Purchased through Snow & Kerley Properties, LLC, for $435,000, the property comprises several 1 bedroom/1 bathroom units and several 2 bedroom/1 bathroom units. All units include carports and fenced yards, and they share an onsite laundry room. The landlord is responsible for water, sewer, and garbage bills, while the tenant pays the other utilities, including electricity and gas. The transaction was financed through Precision Capital, with Chris Bettis acting as the mortgage broker and principal broker Gabe Johansen representing the buyer.
Salem, Oregon, resident Paul Kerley graduated from Montana State University and the Willamette University College of Law and has several decades of experience in real estate investment and the law. Paul Kerley is the president and owner of Commercial Property Resources, Inc, a real estate management firm in Salem, Oregon, which owns approximately 1,500 residential units throughout the state.
One of the business’s most recent acquisitions is a seven-unit apartment complex located at 2547-2561 Lee St. SE in Salem. Purchased through Snow & Kerley Properties, LLC, for $435,000, the property comprises several 1 bedroom/1 bathroom units and several 2 bedroom/1 bathroom units. All units include carports and fenced yards, and they share an onsite laundry room. The landlord is responsible for water, sewer, and garbage bills, while the tenant pays the other utilities, including electricity and gas. The transaction was financed through Precision Capital, with Chris Bettis acting as the mortgage broker and principal broker Gabe Johansen representing the buyer.
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Paul Kerley is a well-established Salem, Oregon, real estate entrepreneur who leverages more than 30 years of industry experience to lead Commercial Property Resources, Inc. Over the years, Paul Kerley has guided the acquisition, renovation, management, and sale of numerous value-focused holdings statewide. His noteworthy recent transactions in the Salem area include the purchase of Donnie Court Apartments at 2436-2464 Lee Street SE. The property comprises 20 total units, with half of the units featuring one bedroom and one bath, and the other half offering two bedrooms and two bath. The October, 2017, deal was financed through Banner Bank in Santa Monica. Another recent transaction in the same community involved the purchase of four single-family homes at 2900 Brooks Street NE and at 1340-1342 McDonald Street NE. With the buyer and seller both represented through the local Coldwell Banker branch office, purchase financing was arranged by PacWest Funding Inc. (dba Precision Capital). Drawing on over 30 years’ experience in residential real estate management, Paul Kerley owns and serves as president of Salem, Oregon's Commercial Property Resources (CPR). In addition to properties in Salem, Paul Kerley’s portfolio comprises close to 1,500 residential units in Oregon. CPR's portfolio of properties now includes a six-unit apartment complex located on Alder Street in Newport. Purchased on October 31, 2017, for $550,000 with financing through Precision Capital, this 4,637-square-foot property spans two commercial lots and has recently updated electrical, foundation, waterline, and plumbing with a private laundry area that includes coin-operated machines. In addition to the six units, the property includes a cottage. It's an ideal space for families with children, as the building is located within one mile of Newport High School, Newport Preparatory Academy School, and Newport Intermediate School, which, combined, service children from grades 4 to 12. It's also just over a mile away from the K-3 Sam Case Elementary School. As the owner and president of Commercial Property Resources in Salem, Oregon, Paul Kerley manages over 1,000 residential units. Also active in the field of real estate outside of Salem, Paul Kerley holds licensure as a realtor in Oregon. In late September of 2016, financial technology company SmartAsset released a list of the healthiest housing markets in Oregon. In compiling the list, it ranked the housing markets according to several factors, such as the average number of years individuals in each market live in their homes and the average number of homes in each market with negative equity. The firm also considered the number of homes that showed devaluation and the costs of homes based on homeowners’ incomes, among other factors. According to SmartAsset’s findings, the healthiest housing market in the state is Canby. It is followed by Scappoose, Gladstone, Corvallis, and Tualatin. Other markets, such as La Grande and Forest Grove, also made the list. Paul Kerley is a real estate manager and investor based in Salem, Oregon. His company, Commercial Property Resources, Inc., is also based in Salem, Oregon, but their dealings cover many properties across eight states. To stay ahead of the competition and ensure the economic life of their properties, Paul Kerley and his team have developed their own property management plan for their acquisitions.
Once a property has been acquired, the stipulations of their property management plan is accomplished within three weeks of closing and maintained thereafter. This includes a thorough review of the property, as well as initiation of repairs as noted on inspection reports. These reports are secured and conducted during the due diligence and loan process. The property management plan includes repairs of any electrical defects, plumbing leaks, and other deficiencies. This also includes roofing repairs and trimming of tree limbs, which are performed by a qualified party. A licensed HVAC technician handles heating and cooling repairs. All of these are done to ensure optimal performance of properties for the marketplace. Paul Kerley is a property owner and landowner from Salem, Oregon, with over 35 years of experience in the real estate business. He owns a company in Salem, Oregon, called Commercial Property Resources, Inc. Paul Kerley has acquired properties in eight states, investments which include single-family homes, condominiums, commercial properties, as well as duplexes and triplexes. Duplexes and triplexes are residential units that can be rented out for the purpose of creating income, either as an investment that will create an income stream or as way to break even while paying off the purchase price and other costs related to the property. A duplex consists of two units, while a triplex consists of three. Before a person decides to buy a duplex or a triplex, they should determine how much they can spend and why they want to buy the property. If a buyer wants to cash out on their investment quickly, buying a duplex is the better option. Since they cost less, the owner can quickly pay off their loan with the incoming rent. The biggest downside to buying a duplex is that it is not as profitable as a triplex in the long run. Since triplexes cost more than duplexes, buyers must consider how quickly they want to see the return on their investment. If they can afford to wait until the triplex is paid off, they can receive a significantly bigger payoff as long as they continue to rent out the units. First-time buyers or landlords, on the other hand, are encouraged to start with a duplex. Since they likely don't have any experience in managing tenants, a duplex can serve as a financially feasible and safer bet. If they have excess cash on hand, they can consider buying a triplex. The important thing to remember is that buyers must calculate the risks of buying a property. They need to check if the income is worth the investment and whether or not it is overpriced or at risk of depreciating in value. Either way, a duplex or triplex owner can profit from their purchase in locations where rental vacancy rates are low. Based in Salem, Oregon, Paul Kerley has established himself as a top real estate executive in the Willamette Valley. Paul Kerley is the current owner and president of Commercial Property Resources (CPR), Inc., a role in which he oversees all operations and manages approximately 1,000 residential properties in the region. CPR offers a broad range of rental properties in the Willamette Valley, all of which are fully managed by the property owners themselves.
Currently home to the largest metropolitan area in the state of Oregon, the Willamette Valley serves as a home for more than two million people. CPR frequently connects prospective renters with apartments and homes in Portland, which lies on the northern tip of the Willamette Valley. For renters seeking a more outdoors-oriented experience, CPR offers a number of rental properties for individuals and families in locations such as Keizer, Cottage Grove, Albany, Molalla, Newberg, and many more. With all of their rentals, CPR strives to maintain a positive tenant-owner relationship, and works hard to resolve any potential issues tenants may have during their stay. Paul Kerley entered the practice of law in 1980 in Salem, Oregon, concentrating on real estate law. During that time, he made some real estate investments of his own in the area, and after about 10 years, he chose to concentrate full-time on managing his burgeoning portfolio. Paul Kerley today owns numerous Salem residential properties, some as an individual, and many others through companies he controls, including Kerley Properties, LLC, and Commercial Property Resources, Inc.
It takes a savvy investor to purchase and manage residential properties. Some landlords become so frustrated that they abandon properties that don’t generate sufficient income. In other cases, landlords only minimally maintain their properties, leading to an appearance of neglect. Potential investors generally avoid such properties because of the cost and potential danger involved in restoring properties to habitable condition. Under Paul Kerley’s leadership, Commercial Property Resources, Inc., purchased a run-down apartment complex in Salem, Oregon in 2007, and immediately began renovating it. Kerley renamed the complex Albany Meadows. He then sent in a small army of workers to start the renovation process. Renovations were thorough, including insulation throughout, energy-efficient double-pane windows, new roof vents and sliding patio doors, bathroom ventilation fans, and more. All apartments were inspected for dry rot and other health issues, after which they were given a fresh coat of paint. Most of the stoves and refrigerators were replaced with new appliances, and units that included washers and dryers had them replaced. In all, Kerley planned to spend about $1.5 million on the renovations. A complex-wide security system was installed; in addition, residents can watch the video feeds on their own computers. Even before renovations were completed, they had a significant impact on security in the area, with police reporting that calls for assistance had dropped by more than half. |
AuthorHe currently owns and oversees approximately 1,000 residential units that he acquired through a wide range of professional real estate partnerships. Archives
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