View Day 1

Thursday • November 13, 2008

8:30 – 9:00 a.m.
Breakfast
9:00 – 9:30 a.m.
Introduction & Valuation Overview
Brock Rule, MAI, COO, Hopkins Appraisal
9:30 – 10:30 a.m.
A Step-by-Step Approach to Single Unit Valuation
Brock Rule, MAI, COO, Hopkins Appraisal

An unprecedented number of petroleum properties are up for sale. Valuing them gets more complicated as a variety of different ancillary services, such as car washes and fast-food franchise deals, create different valuations. Learn step-by-step the many valuation approaches, from straight real estate methods to cash-flow and gross profit multiples. You’ll also discover how to allocate between the business value and the hard asset value.

10:30 – 10:45 a.m.
Refreshment Break
10:45 a.m. – 12:00 p.m.
How to Conduct Full Company Valuations
Brock Rule, MAI, COO, Hopkins Appraisal

It becomes more challenging to value entire companies, as multiple sites and various locations make analysis even more complicated. In this session, Brock provides insight on how to bring clarity to the process and discusses different strategies used to make winning decisions.

12:00 – 1:00 p.m.
Networking Luncheon
1:00 – 1:45 p.m.
A Broad Look at Industry Trends
Brock Rule, MAI, COO, Hopkins Appraisal

To know where we’re going, we have to explore where we’ve been. Brock will review the big real estate trends of the past to give context to today’s reality. He’ll share marketers’ “war stories” and lessons learned from the franchise bond days, which were marked by extraordinary capital liquidity for the “Mom and Pops,” and follow through with details of the bond crash, the failures and the foreclosures. He’ll also explore the clean-up operations, rationalization and “dealerization” that followed, leading to the growing influence of hypermarkets and New Americans. You’ll learn how the smart players sold off the “dogs” in order to re-invest in their upper-tier properties, how oil companies disposed of and consolidated their holdings, what led to the current era of lease-back real estate and how you can ride the current trends to success.

1:45 – 2:30 p.m.
Case Study: Sale Lease-Backs and Dealer Flips – Opportunities and Pitfalls
Brock Rule, MAI, COO, Hopkins Appraisal

Sale lease-back deals can be very beneficial, allowing marketers to focus only on their core competencies. But they are not for everyone. Learn the pros and cons of these arrangements, how some marketers have gotten burned and how others have prospered. Brock takes you through actual cases where companies navigated successfully through the choppy waters, and shows you others where a simple mistake caused them to sink. You’ll get an in-depth look at a variety of tools being used, including:

  • Financial Arbitrage: How to make 2+2=5.
  • Choosing between fee simple vs. leased fee and leasehold.
  • The ins and outs of the 1031 exchange market.
2:30 – 2:45 p.m.
Refreshment Break
2:45 – 4:30 p.m.
Case Study: Financing Strategies in a Tight Lending Market
Brock Rule, MAI, COO, Hopkins Appraisal

Sometimes capital is hard to come by, but that doesn’t mean you still can’t invest in good sites. Brock will show you how one company bought a 60-unit chain with absolutely no cash, immediately sold off 30 of the sites at a profit and used that money to pay down his debt. You’ll discover:

  • Which units to operate and which to lease with supply
  • Which vital operating expense every investor needs to benchmark
  • How to buy sites at a discount and sell them quickly at or above market value
4:30 p.m.
Course Adjourns
5:30 – 7:00 p.m.
SIGMA Supplier Welcome Reception

Complimentary to all OPIS Site School Graduates