Paul Kerley Salem Oregon
Real Estate Entrepreneur Paul Kerley
About Paul Kerley Salem Oregon
The owner and president of Salem, Oregon’s Commercial Property Resources, Inc., Paul Kerley owns and manages extensive real estate holdings with an approach that combines active client interaction with effective operational troubleshooting. He also emphasizes the importance of investing in properties that are within or close to his longtime Salem, Oregon, headquarters. Paul Kerley serves as the managing member of all the real estate ventures he is involved in. In addition to his leading role at Commercial Property Resources, Inc., he holds 100 percent ownership of Gateway Apartments, LLC, a multifamily housing company that formerly conducted business under the name DMP Investments, LLC.
Over the course of his career, he has owned approximately 1,500 apartment rental units with a total combined value of several hundred million dollars. He remains up to date with the latest advancements in his field through his active membership in the Apartment Owners Association and his current subscriptions to various apartment management and ownership publications.
Christmas Decorating Tips for Small Spaces
A real estate manager with more than 35 years of experience, Paul Kerley has built an extensive portfolio of over 1,000 residential properties in Oregon valued at over $60 million. As a longtime resident of Salem, where most of his properties are located, Paul Kerley strives to provide a safe environment for families to enjoy their holidays.
Decorating is often limited by space constraints in apartment complexes, but there are still plenty of ways to celebrate Christmas with relatively few supplies. Consider these space-saving decorating tips to make your holidays more festive:
Substitute the Tree
There is no shortage of Christmas tree farms around Salem, Oregon, but cramming a full-size tree into a limited space is one of the quickest ways to eat up much of the space in an apartment. Instead of using a full tree, consider using a dwarf version, or simply using branch trimmings in a small vase or Mason jar.
Shift Focus Away from the Floor
Removable wall decals can spruce up a wall with relatively little effort, and they have the added benefit of leaving the floor unobstructed. A mistletoe sprig over a doorway provides a classic addition to any small space, and twinkling lights and ornaments from the ceiling can spread holiday cheer throughout the whole apartment.
Property Management Tips for Improving Retention via Maintenance
For more than 30 years, Paul Kerley has owned and served as the president of Commercial Property Resources, Inc., in Salem, Oregon. Through the company, Paul Kerley currently owns approximately 1,000 residential properties and regularly invests in the quality of his properties to ensure resident satisfaction.
According to Property Management Insider, property management professionals should practice certain property maintenance-related techniques to sustain and improve resident retention rates. Experienced property managers should first compile a list of the top 10 most common service requests in a particular community. For each of these requests, the manager should determine if there is a troubleshooting suggestion they can offer so that residents can immediately attempt to address the problems themselves.
In addition to establishing a proactive maintenance plan, property managers should introduce residents to maintenance staff when possible. Tours and walk-throughs present an appropriate opportunity to highlight the qualifications and dedication of maintenance team members. Furthermore, when these maintenance team members complete a service request, property managers should always follow up on the resident’s experience via phone or email.
Paul Kerley Acquires Whitman Park Apartments in Salem, Oregon
Holding a J.D. from Willamette Law School in Salem, Oregon, Paul Kerley possesses over 30 years of experience in real estate management and investment. Over the course of his career, he has held as many as 1,400 residential rental units, both as sole owner and through various partnerships. Currently, Paul Kerley oversees properties in both Oregon and Illinois as president of Salem, Oregon-based Commercial Property Resources.
Operating under his solely-owned limited liability company, Mr. Kerley recently acquired Whitman Park Apartments, a residential rental community located in Salem at 1873-1901 Highway Avenue NE. Hunt Mortgage Group financed the $4.35 million sale, with Marcus & Millichap Capital Corporation’s Bradley Wilson serving as mortgage broker while local resident Anita Risberg provided real estate brokerage services.
The complex offers a total of 92 rental units, including 14 one-bedroom units spanning 800 square feet and 34 two-bedroom units offering 788 square feet of space. Additionally, Whitman Park includes eleven 1,096-square-foot three-bedroom apartments. Its amenities include a playground, pool, and recreation room, as well as onsite laundry services. The smoke-free residential community also provides washer and dryer hookups in each unit, as well as high-speed internet access and storage units.
1998 Kerley-Brokered Deal One of His Most Significant
In 1998, Salem, Oregon-based real estate broker Paul Kerley concluded his largest deal up until that time, a sale of commercial property totaling more than $30 million to Pan Pacific Retail Properties, Inc., a San Diego real estate investment trust. The transaction included the sale of a closed furniture retailer and several shopping centers in the Portland and Springfield areas. The value of that deal alone surpassed the annual sales volume of many of the real estate professionals in the Salem, Oregon, area.
The unusually speedy transaction process included some anxious moments when, early in the year and a week before the deal was set to go through, risk appeared high and cash flow comparatively low.
Paul Kerley opened Commercial Property Resources, Inc., after briefly practicing law. His knowledge of the market and ability to develop large-scale deals, such as the 1998 sale, quickly enabled him to conclude successful investment transactions for a variety of clients.
Recent data trends in the commercial market for the region show that asking prices for retail properties in 2014 saw a sharp uptick over the previous year, but then stayed relatively flat until another steep rise toward the close of 2015. Actual sale prices fluctuated more widely.
The Difference between REITs and Direct Ownership
Real estate broker Paul Kerley serves Salem, Oregon, as a leading owner and property manager of residential rental properties. The Willamette University graduate has been president of Commercial Property Resources Inc. since 1983. Paul Kerley’s portfolio today includes more than 1,000 properties, with recent major purchases including the Heatherstone Apartments in the town of Albany and the Whitman Park Apartments in Salem.
The current trend of high demand for rental properties in a low-interest market has encouraged individual investors. Many financial experts consider real estate to be among the best long-term investments available. The real estate market offers two main types of investment: the purchase of shares, and direct ownership.
Through a real estate investment trust (REIT), an individual buys shares of real property grouped together in a portfolio, in a fashion analogous to the purchase of stock shares. Shareholders earn money as cash flows from rents and as profits from the sale of portfolio properties. Experts say that owning shares in a REIT can be a strong component of a balanced investment plan, but that investors will need to develop a sound understanding of the funding and management methods in play.
Investors considering direct ownership should research prospective purchases carefully to avoid those with hidden problems. One way to ease into the role of landlord is to purchase a duplex or small building. Advantages include lower taxes, independence, and potentially higher returns.
The Grande Ronde Population and Housing Facts
A real estate professional in Salem, Oregon, Paul Kerley invests in rental properties through his companies, Kerley Properties, LLC and Grand Ronde Village, LLC. Through the latter, Paul Kerley closed on 42 single-family homes in Grande Ronde, an Oregon town located approximately 30 miles from Salem.
A part of Polk County, Grande Ronde has an estimated population of 1,516 as of 2014, which is down from 1,661 in 2010, according to the United States Census Bureau. The population is predominantly women and many of its citizens exceed the age of 35. White Americans, American Indians, and Alaska natives make up a large portion of the community.
The town has nearly 700 housing units, which is a substantial increase from 2009 when the US Census Bureau estimated that only 59 homes were present. Of the occupied units, slightly more than half are detached properties and less than 10 percent are attached single units. Over 15 percent of occupied properties are apartments, with the remaining population keeping a residence in mobile homes or other forms of housing. The most popular floor plans are two- and three-bedroom domiciles.
Rent Payment Efficiency for Real Estate Managers
For more than 32 years, Paul Kerley of Salem, Oregon, has owned and operated Commercial Property Resources. Paul Kerley takes an active role in the operation of his company and the oversight of its property portfolio, which includes the recent acquisition of the Circle Apartments on Salem Avenue SW in Albany, Oregon.
To be a profitable enterprise, real estate management requires efficient use of human resources and technology. Use of electronic deposit and payment methods can save managers both time and money, provided that they keep their tenants satisfied at all stages of the process.
For example, many managers are finding that their younger tenants prefer a fully online payment system, which allows for mobile payments or remittance through the company's website. Thus managers are turning with increasing frequency to payment portals that include payment alert availability and options for paying with credit card or electronic check.
Managers need to be similarly aware of tenants who prefer to pay by paper check, as this can add time and cost to the process. A manager can mitigate much of this cost by setting up a remote deposit capture system, which allows the delivery of payments by scanning checks and sending the image to the bank. Managers may also choose to use a special post office lockbox, the contents of which a service then collects and posts to the manager's account.