Paul Kerley Purchases Cattle & Hay Ranch

A graduate of Montana State University, where he earned a degree in economics, Paul Kerley is the owner and president of Commercial Property Resources, Inc., in Salem, Oregon. The company owns and manages an extensive portfolio of over 1,500 residential units. Paul Kerley also works as a sole investor. He recently completed the purchase of 7995 and 8883 SW Houston Lake Road in Powell Butte, Oregon, through his other company, Steak on the Hoof, LLC.

The property contains 257 acres of farmland, of which 142 are irrigated by flood pipes, gated pipes, and wheel lines. Additionally, the property has 7,500 acres of land in the Ochoco Mountains, which provide room for 185 cow and calf pairs.

The property also contains a pair of houses and several carrels and outbuildings that create rental opportunities for ranchers. Mr. Kerley completed the purchase of this property for $2.375 million working through principal broker Jerry Hicks.

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.

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.

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.                           

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. 

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.

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.   

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.         

An Overview of Property Classifications

Paul Kerley, the owner and president of Commercial Property Resources, Inc., in Salem, Oregon, has more than 30 years of experience in commercial and residential real estate. Currently owning and managing through his firm more than 1,000 units, Paul Kerley tends to buy B and C class properties in the Salem, Oregon, region.

How a property is classified depends on its location, its physical characteristics, and its potential among renters. Three main classifications exist: class A, class B, and class C.

Class A properties are typically less than 15 years old. They are quality buildings that include all the latest amenities. Vacancies and major maintenance issues are uncommon, and rents are often high. Tenants who occupy class A units tend to have high incomes, as well.

Class B properties are also in good shape but are usually a bit older. These types of units may need renovations or maintenance work from time to time, and rents are lower.

Class C buildings often require the most work from homeowners and property managers. At more than 20 years old, these properties may be due for major renovations and aesthetic updates. Depending on the area, it can take a bit of time to find renters for these types of units.                           

Local broker closes lucrative deal

Commercial Property Resource’s Rental Policy Ensures Great Tenants

With over 30 years’ experience in real estate, Paul Kerley is the president and owner of Commercial Property Resources (CPR). From his office in Salem, Oregon, Paul Kerley oversees the company’s real estate investments and residential units.

CPR’s rental policy is designed to match tenants with their desired homes and ensure a good owner/tenant relationship.

Potential tenants 18 years of age and up can begin the application process by completing a rental application. Once completed and signed, this form will be submitted to CPR’s office in Salem, Oregon, with a copy of a current government-issued form of identification and a $40 application fee.

Applicants should also provide verification of their income. CPR policy requires that an applicant’s income be three times the rent of his or her desired home. A recent paystub is accepted as proof of income only if it includes year-to-date earnings. Applicants who cannot easily satisfy the income criteria can have a reliable person co-sign their application.

CPR requires that tenants have good rental history for the past two years and no eviction proceedings in the past five years. Multiple eviction notices and rental histories featuring unpaid rent will result in outright denial.

A criminal background will constitute additional grounds for denial. Applicants should have no recorded felonies for the last five years before the application. For applicants with felonies on record beyond the past five years, they should have had no misdemeanor charges filed against them since that time.                            

An Overview of the Property Manager License Process

As the owner and president of Salem, Oregon-based Commercial Property Resources, Inc., and a licensed property manager, Paul Kerley manages 1,000-plus residential units throughout the region. Paul Kerley also owns several limited liability companies that purchase properties around Salem. One of his companies recently purchased all of the rental properties in the unincorporated community of Grand Ronde.

As established by the Oregon State Legislature, someone applying for a property manager license must be at least 18 years of age and have a high school degree or equivalent. After applying for the license, potential real estate managers must complete a 60-hour, pre-license-education course at an approved school. Covering the basics of property management, the course does not qualify the applicant for the license by itself, but it lays the foundation to take the state Real Estate Agency exam.

Proctored by PSI Services, LLC, the property manager exam covers topics ranging from state license and agency laws to tenant relations and fair housing laws, as well as important risk management and maintenance topics. The test’s sections are designed to ensure that the potential real estate manager has the knowledge he or she needs to take care of the property and its tenants in a safe, responsible manner.

Grande Ronde, Oregon - A Small Community with Investment Potential

Paul Kerley, president of Commercial Property Resources, Inc., in Salem, Oregon, has drawn on his more than three decades of experience as a real estate broker, owner, and property manager to conclude some of the most successful transactions in the region. His acquisition of a large portion of property nearby in the unincorporated community of Grand Ronde enabled him and his team to incorporate Grande Ronde Village, LLC, toward the close of 2015.

The site Paul Kerley chose for his significant investment in this small community consists of more than 40 single-family homes, most of which offer garage or storage space, utility hookups, and fenced yards. The purchase provides housing for households of modest means.

The greater Grande Ronde community, in the northwest part of Oregon near Salem, is home to the Native American population of the Confederated Tribes of Grande Ronde, which maintains tribal culture through the Chachalu Museum. In fact, people with tribal heritage make up about one-fifth of the area’s population.

In the Grande Ronde community, the median home value is approximately $170,000, and the median income is about $40,000. Most residents are in their 50s and 60s.

The Challenge and Investment in Renovating Commercial Properties

Paul Kerley of Salem, Oregon, has built up more than 30 years of practical experience in the real estate brokerage and property management fields. Before he established Commercial Property Resources, Inc., in the early 1980s, he concluded the successful sale of about half of the 500 apartment units he owned and managed. Paul Kerley’s activities in the field include the acquisition and major renovation of multifamily residential complexes such as the Salem, Oregon, area Albany Meadows property, which he renamed in 2007.

The run-down Albany Meadows site initially presented a number of challenges, including mold and extensive wear and damage to paint, carpeting, and fixtures. The Commercial Property Resources team repaired and upgraded the property to a high contemporary standard.

Any investor interested in purchasing a commercial property in poor condition with the aim of renovating it will want to do his or her due diligence by studying financial data on the local market, including the sub-market to which the property in question belongs. In addition, it will be necessary to compute the cost of purchase and renovation against a realistic final selling price.

You will also need to evaluate the neighborhood: An investment in a less-advantaged area could prove a wise one if the quality of local community infrastructure is beginning to rise. However, a purchase in a run-down area without such prospects may prove to be a losing battle.

Real Estate Administrative Action Plan

 

Paul Kerley, the owner and president of Commercial Property Resources, Inc., pursues real estate ownership and management transactions for his company in Salem, Oregon. Paul Kerley prefers dealing with properties that he is geographically close. This allows him and his co-owner, John Kerley, to personally handle property dealings near their home base in Salem, Oregon.

Mr. Kerley and his team continue to promote an administrative action plan that they developed to deal with real estate ventures for their company. The administrative action plan includes detailed steps that they believe are important in securing properties that satisfy their buyers.
First, they perform background and credit checks when needed. After that, they assess the area’s demographics and set rent levels to match the community’s needs. They then evaluate their lease agreements and update where necessary. Lastly, they make sure all units are empty, cleaned and inspected before leasing. If any repairs are needed, they make sure everything is up to a proper standard before leasing.

Their plan allows them to maintain the property in order to avoid further damage that occurs from not addressing the unit’s issues early on. Apart from that, they also establish policies for pets, furnishings, security, and utilities. Once the unit is ready, they advertise the available space to establish an ongoing waiting list for quick replacement of tenants.

Oregon Apartment Villas Purchased Under Commercial Property Resources

Paul Kerley is the owner and president of Commercial Property Resources, Inc. His company is based in Salem, Oregon. The company sells property from all over the country. Although he is based in Salem, Oregon, Paul Kerley also Is one of Lowes biggest customer in a twelve western state region.

Mr. Kerley recently sold a 28-unit apartment community in Hillsboro, Oregon. The community is called The Park Villa Apartments and is located at 2520-2668 NE Parkwood Street. The property was sold for $2.5 million, with the help of apartment broker, Gabe Johansen, under SMI Commercial Real Estate, LLC. The buyer is Mike Osborn and was represented by Dennis Salomon of Commercial Real Estate Services, LLC.

Aside from the Park Villa Community, Mr. Kerley also purchased an apartment complex with ten units at 1555-1573 Broadway in Salem, Oregon. He also purchased eight units at 110-118 Sunset Avenue N in Keizer, Oregon. Both properties cost $960,000 and were bought from Bill and Bernadine Ruark of Dayton, Oregon.

Willamette Valley Helps Produce Oregon’s Best Wine

Oregon-based property manager Paul Kerley is the owner and president of Commercial Property Resources, Inc. Located in the state capital of Salem, Paul Kerley owns over 1,000 residential properties in Oregon. Located in the Willamette valley, Salem, Oregon is an area perfectly suited to wine lovers and connoisseurs, with over 500 wineries.

Nicknamed, “Oregon Wine Country,” the Willamette valley is home to nearly 20,000 acres of vineyard. A whopping 14,027 acres of that is for the area’s main variety, pinot noir. The valley is dotted with vineyards and wineries, many of which offer wine tastings to thirsty travelers. For those who prefer guided tours, multiple touring companies throughout the valley offer the experience and knowledge of local connoisseurs to help you get the most out of your wine tasting trip.


April 1, 2017 will mark the second annual Willamette Valley Pinot Noir Barrel Auction. Wineries from all over the valley come together to present hand-crafted wines to a trade-only audience. This year’s auction welcomed over 400 guests who helped raise $476,000. All proceeds benefit the Willamette Valley Wineries Association, helping them further spread the word about the state’s wonderful wines.

Lowe’s Building Supplies for Business

Seasoned real estate professional Paul Kerley operates as the president of Commercial Property Resources, a real estate management company that he established in Salem, Oregon. Focused on property management on account of his large portfolio of properties, Paul Kerley does a high volume of business with Lowe’s in the Salem, Oregon, area, which has made him one of the company’s largest customers in the Western United States.

Property management entails ongoing maintenance, and one nationwide option for materials is Lowe’s. Established in 1946 and traded publicly since 1961, the chain offers a wide variety of building and home improvement supplies. In addition to its brick-and-mortar stores, Lowe’s maintains an online store and multiple call centers.

Professional customers constitute approximately 30 percent of Lowe’s total business. This includes the construction industry and maintenance and repair operations. Headquartered in Mooresville, North Carolina, the company did over $56 billion in revenue in 2014.

The Background, Features, and Rental of Whitman Park Apartments

Paul Kerley, a real estate professional serving Salem, Oregon, leads Commercial Property Resources, Inc., and Kerley Properties, LLC. Among the properties owned by Paul Kerley are the Whitman Park Apartments, situated at 1873-1901 Highway Avenue NE, Salem, Oregon 97301.

The Whitman Park Apartments sold for $4.35 million cash, with financing from the Hunt Mortgage Group. Bradley Willson of the Marcus & Millichap Capital Corporation served as the mortgage broker, and Anita Risberg from Salem advised on the transaction.

The two-story, multifamily property contains 92 units. Floor plans begin at 788 square feet and reach a size of 1,096 square feet. One- and three-bedroom units make up approximately a fourth of the apartments. The majority are two-bedroom homes. Each unit features wood flooring, and some offer carpet. A dishwasher and a washer-dryer hookup is included, as well as amenities such as wood-burning fireplaces and a community pool.

Tenants must pay a deposit upon signing a lease. Going forward, they are responsible for paying rent monthly. Pets are admissible as long as they do not display aggressive behavior. A pet deposit and rent is required for each.

The Marketing and Advertising Responsibilities of a Property Manager

Having acquired numerous properties over the span of three decades, Salem, Oregon, real estate investor Paul Kerley possesses a wealth of experience in commercial property management. Paul Kerley oversees the management of approximately 1,000 residential units he owns in and around Salem, Oregon, and elsewhere.

A proficient property manager is key to the success of a real estate investment in a multifamily property. His or her primary task is to ensure that rental units do not go unoccupied, and he or she has a responsibility to market and advertise vacancies promptly. The property manager must first prepare the apartments for showing by coordinating the efforts of the maintenance staff, who not only clean open units but also maintain the exterior to increase curb appeal. In addition, a property manager collaborates with realtors and leasing agents to communicate the availability of a unit and creates collateral material, ranging from signs to print ads, to garner interest from prospective tenants.

In the same capacity, a property manager makes him- or herself available to address questions as needed. To reduce the number of calls he or she has to take regarding common questions, the manager may set up a recorded, 24-hour hotline that provides details about the property.