​Developing 1st Retail Strip - Need: 1. Mentor, 2. Attorney

[Josh Cochran]

1. Looking for a mentor/coach for my 1st NNN retail strip development.

2. Looking for an attorney to draft a Partnership Agreement for the NNN strip for 1-3 other partners

Thanks in Advance!

Background

• 13,000-19,000SF development
• I'm under contract on the land (30 days left until close)
• Considering having my contractor as a partner (even though he tells me to be solo owner) b/c they own a lot of retail buildings and I believe: 1. having their expertise will help me avoid stepping in a big pile of poop 2. they have a lot of relationships in the area 3. spread out the risk.   A coach/mentor may mitigate my need to have my contractor and/or others as a partner

[Joel Owens]

Mentor you need to place that in the real estate marketplace section and must have a PRO,PLUS account etc.

Unless you are getting this land for next to nothing most buyers will not close on the land until you have a majority of property pre-leased with forward commitments. This can be especially true if you are not an experienced developer with deep pockets to make the lender feel comfortable based on your past track record filling up the centers and stabilizing for cash flow.

30 days is nothing and goes by quickly. It's simply not enough time if all you have at this point is the land under contract.

Ask your contractor friend if he does fee for developer? This is where they usually walk you through the whole thing and help out. It is not cheap and usually 6 figures.