Minority Real Estate Discounts
Results that Stand Up
Explaining what matters & why it matters with
Insight, Intellect & Integrity
Our client roster is the best testimony to the value we provide....
-James Lisi, Owner
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Value arguments and expert testimony that support mediation and collaborative settlement, and withstands challenges from the IRS or opposing counsel
Simple, low cost market values to put you in the ballpark for internal negotiations, or full consulting when an experienced acquirer arrives and the one-time chance to secure your future is at stake
EMPLOYERS & ERISA TRUSTS
409a and ESOP valuations that address preferred stock, repayment obligations, convertible debt and dilution, and protect the founders and CEO from legal threats
We capture all FMV discounts, and back it up with economic principles and court precedents. We teach these peer-reviewed advanced methods at professional valuation conferences
PARTNERS & SPOUSES
Valuations reflecting an owner's position to help settle partnership and divorce matters
Appraisals of alternative assets held in IRA or 401k plans that save tax by providing discounted market values
To bring a clear, fundamentally sound finding of value to each client
When competitors' cases go to Tax Court or when negotiations fall apart over valuation, it is often because the analyst has failed to use good fundamentals. Our positions are engineered so that authorities have no choice but to consider them. Four factors set us apart - and are why we are able to produce reliable results for our clients.
First, we examine companies like a private equity investor, not like an accountant. Value is driven by cash flow, entry barriers, margin, growth rate and market. These elements explain the value of all business types - profitable, unprofitable, early stage, mature, services, retail, distribution, software, manufacturing and real estate.
Next, we use scientific method to connect company performance and data to value. Scientific method is superior to approximations using statistics, big data, CAPM, binomial lattices and differential equations that certainly take skill, but can be enormously inaccurate.
Critically important, we rely on M&A data as private equity investors and business brokers do, and flex between approaches for the demands of situation. The typical accountant uses one complex formula based upon public market data and translates this for a private company. With the extra variables involved, it requires many more judgements than M&A data. Business brokers simply reject the public market translation for being unreliable.
Fourth, we purposely examine inventory, contingencies and owner issues that income formulas don't distinguish, which is key for real estate partnerships, retail, distribution, and settling equity holder disputes.
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