ACTION

STRATEGY FOR SAMPLE PROJECT

Condominium Conversion Basic Considerations

• Suitability of the property for conversion
• Owner or prospective owner’s financial position and objective
• Prevailing and future economic conditions

EXAMINING THE CHARACTERISTICS OF A COMMERCIAL BUILDING, ITS CONSTRUCTION, OPERATION AND INCOME IS ONE ASPECT OF OUR METHODOLGY.

Discussions with the owner's accountant, banker, investment planner, and attorney are vital not only to the gathering of information but also to the development of options heretofore not available to the owner.

Finally, intensive exploratory discussions with the owner take place, reviewing the owner's needs, desires and objectives and culminate in a vital overview to what is called a MULTIPLE OPTION POSITION (MOP) presentation.

Often these options individually may have been apparent to an owner. However, their implementation may not have occurred for various reasons such as lack of necessity, lack of accomplishment, lack of desire, time or need.

Commonly, CPOS will develop one of the following programs.

Establish a joint venture, whereby the owner offers their property and CPOS offers our program services for a fee or, a complete turnover is enacted. In this case, the owner assigns the entire operation to CPOS and we apply optimal efforts to cut costs of ineffective management, fashion a working condominium regime environment and convert for a fee and agreed portion of the net.

CPOS does more than a condominium conversion, we advise what happens to an owner’s funds after conversion. We work with the owner to minimize taxes and create other entities such as trusts which minimize estate problems.

In either approach, a property owner realizes profits well beyond customary choices in ownership or disposition.