All Forum Posts by: Ben S.

@Wayne Brooks Could you explain?  I have discussed with the city and they say all is good, but I might be asking too broad of questions to them to get thoughtful answers.

@Russell Brazil Sorry I wasn't clear. The current setup has one building in one parcel, one building in another parcel, and two parcels have no buildings, just parking and lawn area. I plan to purchase, replat, and resell individually. I would like to make sure they are townhouses with an HOA instead of condos to avoid some financing hassles for the buyers of the individual units.

I am looking at replatting a couple six plex buildings which are set up like row houses. Currently on 4 parcels. With the irregular shape of the lot I think a common area or HOA owned parcel will be needed for the majority of the parking and lawn. The individual unit would have lot lines going down the shared wall and would include 1/6 of the building, a piece of land between the building and the detatched garage, and 1/6 of the detatched garage structure. Would these be townhouses for sale or condos for sale?

I have a team I trust, but having heard a few arguments both ways. Curious to know what the biggerpockets verdict would be.

@Jacob G.

I'd probably start by visiting the city planning department.

@Jacob G.

It must depend on your area or city. Crushed asphalt and crushed concrete don't count towards the total impervious area for us. And that area can be up to an acre per parcel before you need a retention pond.

@Parish Williamson I am sure this changes state to state or city to city. But in my city and county you can GC your own commercial project. I have done one outside and one inside city limits and am glad I learned from the experience in the county first. I probably annoyed the building inspector with all the questions I asked, but learned a lot from him. As far as subcontractors goes the bidding process takes forever, and the last building I discovered the importance of asking good contractors who they recommend for other contractors. My concrete guy introduced me to a great plumber who introduced me to a great hvac guy. It's a fun process.

@Nickolas Burns @Benjamin Aaker There is a REIC meetup on the 26th. I think someone posts the details on this forum somewhere. Or if you pm me an email address I will forward you the info.

Thanks @Joel Owens and @Phil Christian.  With the situation I think it does make more sense for me to put a little more free rent in the longer term lease option versus lower rents for the longer term.  I am working with a broker who I trust.  Longer term leases are still new to me and I get a little nervous I am overlooking something.  Thanks for your tips, I will trust the local professionals that I work with.

@Phil Christian So I am learning a lot of new terms here.  If I lay out different options like you are proposing and calculate the net effective rate for each of them should the 3 proposals for 3 term lengths be equal?  If they "should" be getting a better deal for 10 years, the question is how much?  I appreciate the information, I am new to this.

I have a large warehouse space that a company is looking at.  They sent an RFP for rates for a 5, 7, and 10 year lease.  It is a well known international company and I would love the security of having a 10 year lease signed with them, but am not sure how much that is worth to me.  Is there another way to put the proposal together to make the 10 year option more appealing to them other than decreasing the rent$/sf?