All Forum Posts by: Ben Patel

Hi,

Can anyone point me in the direction of obtaining land for a commercial 1.2-acre parcel to build a strip center?

The majority of brand name lenders have said no loans to vacant land/construction loans at the moment. 

one small bank quoted me 50% down with 10% interest with a prepay penalty.

Thank you

Ben

A few years ago, self-storage was a hot real estate class. You'd be lucky if you found a self-storage at 6 / 7 caps a year ago or so, and now I'm noticing self-storage in the market for 7 / 8 caps. 

What's happening to the self-storage industry?

Rita, 

The franchise system is a great way to build wealth and an excellent way to lose it all. Wealth in the franchise is created by scaling fast. Your wise to not enter a competitive market (food). This industry is tough to make money and has a lot of moving parts. I would do whatever it is that gives you immediate cash flow, be it through a career or business, and pour that money into real estate. Anecdotally, the only real winner in the franchise industry is if your not able to scale quickly is the franchisor.

Thanks Greg - Is listsource a good place to start to generate list of owners? Is there another platform similar to listsource gear towards commercial only?

Seems like most of the storage business that is listed on loopnet or through a storage broker is over priced / something is wrong in the deal. Alternatively, I seen folks here have success with direct mail. Wouldn't everyone be doing this already by now? So, what makes direct mail a unique way of sourcing deals?

Does anyone have a template they can share that has been successful for them?

Thanks

Ben

Mark, I sent you a pm. 

Thanks

stay away from the restaurant business, intensive labor-inducing high turn over. This is not an absentee business model. 

Anywhere from 700k to 1.5M approx without the cost of real estate. Assuming it's single lane drive-thru next-gen design. 

PA is a sold-out territory if your not an existing franchisee, better team up with someone in the industry if you are the LL. 

- Several things to consider is easy in / out 

- easy width & height of the drive-thru (yes, there is a specific dimension for these). 

- guard post

- fences 

- will you have a patio? Walk up? 

- Service delivery easy of access

I can go on and on, but PM if you have a specific question.




http://www.dunkinfranchising.com/franchisee/en/whatsavailable.html#availability

Click on the portfolio link for latest design pic. 

Has the online monthly subscription base pick up  / drop off storage unit had any impact on physical storage unit business?

Has the management company provided any data on the break-even point/time frame for this flagship brand? 

How will you split the losses? 

I have friends that are heavily involved in the Marriott brand. I am also in search of a hotel.

Have you considered purchasing an existing brand rather than development?

From personal experience development project always tend to be higher than expected, so be prepared for that. 

Mind sharing with us what flagship this hotel is?

You're on the right path; Hotel business is an excellent business to be involved.