Flex space NJ NY PA CT

[Sam Sala]

I want to invest in flex space but I am located in NY where prices are just outrageous. Anyone here looking for a partner? I'd be happy to meet and make things happen. I was thinking about NJ or PA since NY is ridiculous.

The idea is to find land and build flex space which is in very high demand nowadays.

Looking forward to hearing back from you guys.

Regards

[Henry Clark]

@Sam Sala

You have to invest your time into this or any REI endeavor. You're just starting out. It's time to get past posting and start doing deal analysis or you will never do a deal. You need to do 5 deal analysis before you even attempt to either develop or to invest with someone else.

Google, Loopnet, New Jersey, look up the following two properties:  1027 Old York Road, Ringoes, NJ;  175-179 N. Broad Str, Phillipsburg, NJ

Do an analysis on each property one at a time.  Show the analysis on this post and ask us to make suggestions on how to improve your analysis.  The Ringoes property is the one I would go after, has a lot of upsides, just from looking online at it.

In a deal you have to either bring the land, Dollars, or development expertise.  Right now, you only have desire.  Plus, the current economy is the wrong time to be learning.

As you do each analysis you want to develop a property checklist, Cost Build analysis, profit/cash flow analysis.  You want to develop systems, otherwise it's just a bunch of knowledge with no system behind it.

Want you to take just One hour and do a property checklist.  Don't try to impress us.  Don't try to be 100% accurate.  You will waste your time.  We will then give you some guidance and you will work on it for another 4 hours.  Then we will give you guidance.  They you will go work on it for 8 hours. So forth.  Once your property checklist is done.  Then same process for the Cost Build Analysis and the profit/Cash flow analysis.  You could ask why doesn't one of us give you our checklists or our financial analysis. You wouldn't learn.  Build your own with our help.

You need to seek out seminars, workshops, etc on this process.

Below is a property we are closing on next Tuesday.  We will either make $2.5mm on this in 3 years or very little money depending on one key zoning issue.  You have to control or know as many of the issues as possible, otherwise you're just gambling.  The last closing issue we are working on, is to take control of the Covenants from the current owners.  What if we had missed this and the prior owners still had control over the covenants?  Add that to your checklist.  Each post you read, keep adding things to your checklist, even if they don't pertain to your current deal, you will still check them off for future deals.

Below is land we already own, have zoning approved, have the financing in place, have the drawings and contractor estimates, and don't have to put a single dollar down.  We decided not to go forward with the project at this time and let it sit.  You have to know when to walk away from a deal or postpone it.

You need to start doing Deal Analyses, even if you plan to invest in Syndicates; you need to understand the deals and their potential Good or Bad.