Thursday, April 26, 2018

Lee St. SE Apartments Latest Paul Kerley Acquisition


A seasoned real estate entrepreneur, Paul Kerley is the owner and president of Salem, Oregon-based Commercial Property Resources, Inc., which owns and manages over 1,500 residential rental units in Oregon. Paul Kerley’s latest addition to his portfolio is the Lee St. SE Apartments located at 2547-2561 Lee St. SE in Salem. 

The property consists of 7 units, with 4 of the units featuring 1 bedroom and 1 bath, and three units having 2 bedrooms and 1 bath. The site has fenced yards, carports, and a laundry. Tenants pay for the electricity while the landlord covers the water, sewer, and trash pickup payments. The building is close to elementary, middle, and high schools, Willamette University, the Salem railroad station, the United States Postal Service building, and various commercial establishments. 

Mr. Kerley acquired the property through his wholly owned Snow & Kerley Properties, LLC. Financing was provided by Precision Capital of Eugene, Oregon, with Christ Bettis serving as mortgage broker. Representing the buyer in the transaction was SMI Commercial Real Estate, LLC, through its principal broker, Gabe Johansen.

Wednesday, November 15, 2017

KKCoastal Acquires Rental Units in Newport, Oregon


Based in Salem, Oregon, Paul Kerley has worked for more than three decades as a real estate owner and management specialist. Outside of his responsibilities at the Salem-based Commercial Property Resources, Inc., Paul Kerley owns a limited liability company called KKCoastal. Under his leadership, this firm recently purchased rental units in Newport, Oregon. 

Through the representation of Windermere Properties' Anita Quilici, KKCoastal was able to acquire the Alder Street Apartments at 1007 SW Alder Street in Newport. Financed through Precision Capital, the purchase totaled $550,000. For this price, KKCoastal obtained six rental units and an accompanying cottage spread across half an acre of land. 

Of Alder Street Apartments’ six units, five include one bedroom and one bathroom while the last unit comprises two bedrooms and one bathroom. The cottage boasts a cozy one-bed, one-bath interior with an outdoor deck. The property has amenities such as electric heating and laundry equipment as well as seven resident parking spaces.

Alder Street Apartments is situated within minutes of downtown Newport and the Pacific Coast. Other local attractions include the Hatfield Marine Science Center and the Oregon Coast Aquarium.

Thursday, October 12, 2017

Demystifying Real Estate Titles and Positions

Based in Salem, Oregon, Paul Kerley founded Commercial Property Resources, Inc., in 1983. Paul Kerley has managed more than 1,400 residential rental units and is licensed to broker commercial properties throughout Oregon.

Many individuals confuse real estate positions such as “broker,” “agent,” and “salespeople.” Those who go into real estate transactions with an understanding of the role of each businessperson involved may not feel as confused during the process.

The term "real estate agent" is something of a catch-all: anyone who earns a real estate license is a real estate agent. Sales professionals and brokers are both technically real estate agents. They can show properties to prospective clients and, depending on the full extent of their qualifications, can produce contracts. The catch is that qualifications to become an agent vary from state to state. Hence, most states require agents to take a minimum number of classes to receive a license to sell and show real estate within that state.

Although a real estate broker is also an agent, brokers undergo training and education beyond the minimum requirements for licensure. They must pass a state broker's exam, after which they may work alone or hire agents to work under them.                           

Tuesday, October 10, 2017

Rental Criteria at Commercial Property Resources

During his time as the owner and president of Commercial Property Resources, Inc., in Salem, Oregon, Paul Kerley has helped the company become a leading provider of rental properties in the Willamette Valley. Paul Kerley currently oversees approximately 1,000 rental properties throughout Salem, Eugene, Albany, Cottage Grove, Hillsboro, and several other locations in the state.

To rent a property with Commercial Property Resources, applicants must submit current photo identification at the time of application. Applicants also must show proof of a monthly income totaling at least three times the property’s rental amount or submit a housing voucher. In terms of rental history, applicants must have a good rental history for at least two years, with no evictions within the past five years.

Common grounds for denial include multiple 72-hour notices from landlords or outstanding balances with utility companies. All properties require a refundable security deposit, which varies depending on the size of the rental property.

To learn more about renting with Commercial Property Resources, visit www.rentandresidehere.com. 

Sunday, October 8, 2017

Make an Apartment Complex Appealing

Salem, Oregon, resident Paul Kerley is the president of Commercial Property Resources, Inc., a firm which focuses on the ownership and management of residential properties. In addition to investing in condominiums and single-family homes, Paul Kerley invests in apartment complexes.

In order to attract renters to an apartment complex, owners should equip their properties with the following three amenities in order to make them more appealing places to live.

  1. Safe lighting is important. When the perimeter, parking areas, and entryways of an apartment complex are well-lit, it can deter criminal activity. Help potential residents feel more confident in the safety that your complex provides by installing lighting in advantageous positions across the property.
  2. Modern appliances appeal to renters. Outdated stoves, refrigerators, and washing machines can prematurely age a property, leading to lower levels of interest from prospective inhabitants. Boost rental value and enthusiasm for a property by investing in uniform, modern-looking appliances.
  3. Energy efficiency is a selling point. Installing energy-efficient amenities such as double-pane windows and moisture-sensing bathroom ventilation fans can entice potential tenants. Not only will these types of amenities look new, but they will also lower the cost of power bills for tenants.

Friday, October 6, 2017

Willamette University College of Law Externship

A longtime real estate professional based in the Pacific Northwest, Paul Kerley currently owns and operates Commercial Property Resources, Inc., in Salem, Oregon. Before launching his career in real estate, Paul Kerley earned a JD from the Willamette University College of Law in Salem.

In addition to its course offerings, the Willamette University College of Law sponsors an externship program designed to immerse students in the work of practicing attorneys. Students work closely with lawyers in a number of settings, ranging from in-house counsel at national companies to state and federal agencies. Participants in the externship program perform a variety of tasks, such as alternative dispute resolution, administrative advocacy, litigation, and transactional work.

To qualify for the externship program, students must enroll in either the part-time or full-time externship course, which comes with varying credit hours based on the time of year. Students must be in their second or third year at the Willamette University College of Law and enjoy good academic standing to be considered.   

Wednesday, October 4, 2017

Costs Associated with Rental Property Investments

Paul Kerley, the owner and president of Commercial Property Resources, Inc. in Salem, Oregon, owns some 1,000 residential units. The properties owned by Paul Kerley include single- and multi-family homes and apartments in Salem, Oregon, and neighboring communities.

Before investing real estate, it is important to note all of the costs associated with a rental property. Investors should be capable of covering costs such as down payments, insurance, ongoing mortgage payments, and utilities. Additionally, they should plan for significant maintenance; older properties often need renovations, and newer ones may require quick fixes. Setting money aside monthly for maintenance can help investors better prepare for unexpected issues. Depending on the type of property, there may also be monthly association fees, which are particularly common in condominium and town home developments.

Rental properties also carry some unique costs that many homeowners don't need to consider. Owners may need to pay for advertising to find tenants, and be financially prepared for vacancies as tenants come and go. Investors who use property managers to oversee their rental holdings will also need to plan for their compensation.