Need help who generally goes to market and gets pricing for Environmental Phase I ESA and Property Condition Reports services
I am registered geologist and I have been in due diligence word on technical side for over 20 years providing advice to help close deals from the environmental and engineering consulting side. In my new position with a national provider I am working for is asking me to go generate leads for new projects and portfolios. This is new to me as I have always generated business on word of mouth and my technical expertise....Any advice from your side let me know also if you have any technical questions on ESAs or PCAs please ask.
My 2 cents:
Start by contacting development/construction/project managers at development companies or acquisition officers at small asset management/investment firms, let them know you have a national presences, maybe could provide discount for repeat business. If you see land/buildings on market, put in cold pitch to brokers selling deal and say you know this area/building. 1 in 100 might acknowledge you and make recommendation to a buyer.
Environmental - At the end of the day, from a deal maker's perspective, you're selling a document that everyone in the transaction can sign off on and pass the buck too if shit hits the fan and say 'look we did our DD., we paid $5K for this report and it says no problems,' even lenders want this, at least as long as your firm's reputation provides credence to that conclusion. Value proposition is if your firm can handle real problems if they arise, like do you have good insight into EPA workings, know senior EPA members in your jurisdiction that can make sure things get processed quickly and paperwork does not get lost?
PCA - Value proposition: will you be flexible with your client about what goes in report as immediate repairs, and what goes into the general schedule of projected required reserves? Are your repair costs thought out factoring local costs or just a database figure that says roof replacement should cost $5 psf. This report has potential to materially change underwriting depending on how a lender interprets necessary repairs and reserve schedules, because in most cases, every dollar that has to be reserved from a loan for repairs is one additional dollar that needs to be contributed from equity at closing.
good stuff thank you much apperciated
Call/network with loan originators and underwriters
ok will do thank you.
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