All Forum Posts by: Brady Williams

The 100k is inclusive of mapping, and legal fees associated with the HOA creations and establishment. What do you mean by right of way or utility work?

Hey Dan,

Thanks for the market insight. These apartments went through about $1.2MM of rehab over the past two years so nothing really needs to be done cosmetically. The budget I was given was purely for the conversion, putting a map on the property as well as fees from the county.

Thanks,

Hi,

I am a financial analyst in Detroit, MI and I have underwritten several projects that my partners and I would like to do, but we are going to have to raise some equity because they are bigger deals that we can afford. I've created many syndication models, however I have never talked to an attorney about how to structure one. Is anyone from the Detroit area, who has done a syndication or structured some sort of equity raise like I am talking about? I'd love to buy you a cup of coffee and learn how you did it. Or I can get on the phone if someone could explain it.

Thank you,

Brady 

The condo conversion planner that we were referred to gave us about a $100k budget including his fees, for about 9-12 months worth of work on 34 units. On a per unit basis does that work given the timeline? 

Thanks, 

Hello,

Over the past several months I have been working on a condo conversion deal in Point Loma, San Diego. I've been talking to condo conversion specialists and brokers to get a feel for the market. I commute between Portland, OR and Detroit, MI so I don't have much of a feel for the San Diego market. I am hoping to accomplish two things from this post:

• Learn more about Point Loma and get a better feel for our condo prices after the conversion
• Talk to anyone who has done a condo conversion in San Diego and get a better timeline for how long this will take and what road bumps I might run into

Looking forward to hearing back from someone!

Hi,

I'm underwriting a self storage construction currently and am having a hard time finding hard costs to build mini storage, covered storage, and climate controlled storage. I know how much it's going to cost to build the industrial buildings as well as pour the slab. This project is being built in Georgia, does anyone have an experience with building these types of storage? Just need some round $/SF.

Cheers

Brady 

Here is the website that covers everything you need for this. http://manufacturedhousinginstallation.com/install...

I talked to an installer yesterday, from what I understand the pad that is poured has to pass HUD regulations by being inspected by someone who has the certification from HUD. Then, once the home is placed on the pad it needs to pass another inspection which is about $400 a pop. The pad inspection is really a one time fee, if you but the design from someone who is certified, after you pour it they will come inspect it which is included in the design fee (from my guy at least).

Cheers 

Has anyone dealt with the new manufactured home installation program that HUD has started? I am looking to tear our and pour new pads in a park in Michigan, but now I need to budget for the inspection/engineer work. I've been trying to get someone on the phone but haven't had any luck, so I was seeing if anyone had gone through the inspection yet. Looking to find out what the timeframe is on this inspection and also the cost.

Cheers, 

Brady 

Thanks Derrick. Someone came and offered cash on it so it slipped by me unfortunately.  

Hi! Thinking about putting at 3500 SF lot under contract, only 33 ft wide but 100 feet long. Zoned R2 and is available for multi family, I want to put a duplex on it but am struggling to think what this plan would look like. Anyone know any builders who specialize in a product like this?

Cheers!

Brady