An Application of Methods to Real, Personal, and Intangible Property Valuation
Westphal, Michael E.
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In the summer of 1995, Timothy Moffit, my business administration professor and academic advisor at Kalamazoo College, approached me with an offer to work with him at his private practice during the fall assisting him in client engagements at The Stratford Company. The Stratford Company, located in downtown Kalamazoo, is a conglomeration of several companies which primarily specialize in the real estate industry. Specifically they are: Stratford Appraisal, Stratford Home Inspections, and the Stratford Institute which is a state licensed proprietary school for real estate and appraisal licensure courses. The company devotes most of its efforts to residential appraisals, small business valuations, and continuing education courses in the Stratford Institute, however, Timothy Moffit also serves in a variety of consulting roles and aids in the acquisition of working capital and financing on large real estate projects. Most , if not all, of the work that I was involved in at Stratford incorporated a systematic process of assigning value to businesses and real estate. As an assistant I aided in the collection and analysis of financial data, conducted market research, organized material for presentation, and served in a variety of office roles. My Senior Individualized Project consists of the work and research I performed while under the employment of The Stratford Company and its clients. This report is a summary of my work, and a synopsis of my involvement in three business valuations and appraisals. The names of the clients have been changed to preserve their right to confidentiality. I submit the information and documents included in this report with the prior approval of The Stratford Company.