All Forum Posts by: Alfred Harding

FYI: When you do online filing, you've filled out both reports. When you print out your copy, at the bottom you'll see the section labeled Public Information Report. You just don't notice it but you've answered the questions when filling out the Franchise Tax Report.

That's what I'm trying to figure out. So I have quotes of finish out of $40.00 - $125.00 a foot depending upon finish out. What I can't figure out is taking out location, if I plopped this thing in the middle of a desert, what would a blank building be worth?

I trying to arrive at a proposed number to the bank for foreclosed property that would be less expensive than a new build, otherwise, what's the point? Any ideas?

In today's market, I haven't found any 2% deals. You would really have to buy a rat trap in the worst part of town to try and get close to that. Everything seems to equalize over time so what's the opportunity now?

What would be a good price for 5 story building at the shell level? The building has exterior walls and windows, fire suppression, HVAC, elevator, roof, plumbing and electrical connections on each floor. If the building was 50,000 sq. ft. and I was to purchase say one floor of 10,000 sq. ft. What would be a realistic price in a small market like Santa Fe with 65,000 residents. Commercial vs. Residential? No parking available for residential, walking distance for commercial.

Hi Dave,

What did you have in mind?

Alfred--

The $1m was 3/3 and $1.2 was 2/2. The 2/2 has the better view. We are taxed resort which is about 600% higher than owner occupied.

Wow, that seems to be spreading yourself really thin. So your rolling the dice that there are no speed bumps. I'm not as big of a risk taker, the more you can put down, the more cushion you'll have if the market turns South.

Yes, it's the Beach Villas at Ko Olina. Monthly HOA expenses run $1,400.00 - $2,200.00 per month. Around $500.00 of that is electricity. 253 units, 70% rent, 30% do not. Of those that rent, occupancy is around 60% - 95% depending upon the nightly rate and desirability of the unit. Prices for the units for sale are up quite a bit currently, the flip side is that nothing at this new higher price point has sold. I'm waiting for the first one to break through, if it does, I'll probably sell my two units as the prices would be attractive. If prices come down, I'll probably purchase an additional unit. Units do sell when well priced but not when overpriced. All units for sale currently are overpriced which makes a purchase more difficult and if paying the higher rate, harder to cash flow. We purchased in the $1m - $1.2m price point.

I've been looking through the vrbo and airbnb listings to get ideas along with looking at their calendars to see occupancy. I think I need to go more upscale like a hotel as they stay occupied in the high 60's, low 70's and at a higher price point.

I think 4-6 months out of the year, the property would be occupied with short term vacation renters, the rest of the time vacant. At $400 - $500 a sq. ft. for attractive property, it's hard to make the #'s work. Especially if you tried to achieve the 2% of purchase price per month as the target rental income.