All Forum Posts by: Account Closed

@Joel Owens Would you mind further explaining what STNL and MTNL stand for? Are these universal in terms of construction loans? I am unfamiliar with these acynoms and they seem very important to know.

I agree with your statement regarding risk on large strip centers, lets leave that to the REITs. 

@Michael Moikeha I have it under contract and see incredible potential. It seems to be the ideal first development project. I like this thought process, even if I stick in the deal as a project manager to gain some knowledge and experience of the process. 

As a new broker do you have suggestions on how to get in contact with franchise owners? My current process is to call the store (or go in) and simply ask the employees, is this your method or do you have other suggestions.

@Nick L. Just shot you a PM

@Nick L. Thanks for this response. I am currently working on step 1, very helpful. 

Just wanted to test my luck to see if there are any active BPers who are familiar with commercial development. 

I have a 1.09 acre parcel zoned for commercial and am looking to develop a small 4-5k square foot restaurant in this space. It is a great location surrounded by three large apartment complexes with no nearby food aside from a gas station next door, the value in this is there is already an entrance, there is also a large 6.8 acre PUD parcel zoned for apartment or assisted living right across the street. It is located right off of two major Indianapolis highways so there is even more potential for foot traffic.

My vision is to develop a small fast food building, lease it, then sell it as a turnkey property to either the tenant or an out-of-state commercial investor.

So my question is; as an inexperienced developer with limited capital and unlimited sweat equity, how would I go about beginning this process? Would my first step be to find a retailer who is interested in leasing my building? Or would I work on obtaining the construction loan? Or simply find a JV partner? 

I understand there is limited value in sweat equity. Does this make it impossible for me to accomplish? Would it be better for me to simply sell/lease this parcel as-is and save up capital for other future projects? 

@Account Closed

Very impressive. I would love to speak with you more on your commercial real estate experiences and hear any advice you have. Just shot you a friend request.

@Tom Mendez

I am putting together a market report for investors for a tenant coordination software. I am trying to determine the percentage of market share we can go after, so I am looking for statistics of each CRE segment in comparison of each other. Do you have any recommendations?

I am in the process of joining the ICSC which from what I understand details retail property owners by GLA very well.

@Account Closed

Thanks Bob. I will give them a call for pricing tomorrow. Have you purchased any past surveys from PwC?

Does anyone in CRE have a suggestion for data sources that offers total (market) square footage, average price/SF, & market cap for the US market sorted by property type?

(Most importantly in RETAIL & OFFICE.)

I found an old 2009 grad study from SD State (below), I just need something a little more up to date.

Thanks guys.

-Brett

Hey guys, I know there are a lot of topics around regarding buying real estate with little to no money down (especially on Brandon Turner's blog), but I was wondering if someone who invested right out of college could help me see the light to how raised early on as a youngin? I know private money is a popular route, but when approaching family & friends, how exactly do you ask them to invest? Do you create a handout, power point? And how risky can using hard money be?

I have recently found a property that I am interested in investing in. I spoke with the seller and found that I can get it for roughly $60k. It is located in a popular area with houses in the same neighborhood valued $150-250k. After doing my research, I know I have sufficient ways to add value to this property over time (mainly due to its location, the house is in bad shape).

My biggest problem is I recently started my w9 full-time job, and finished college, so I don't have nearly the money required for a down payment and can't get a loan because I haven't built my credit yet. 

Thanks, I look forward to hearing what you all have to say. 

-Brett

Congrats @Mike Henkel it is beyond inspiring to hear success stories of young real estate investors. Hopefully one day I can share an article of this magnitude. 

It is very inspiring to read about other young professionals successfully making serious moves in the real estate world. 

I just graduated from IU Bloomington last weekend while working as a Marketing Strategist for a local commercial real estate software start-up. I am starting an entry-level job as a commercial real estate broker (tenant-rep, office space) this July and must obtain my Indiana Brokers License. 

Aside from educating myself in real estate through job experience and licensing, I am also currently going through the process of networking and reading as much as possible. Though I am not financially ready for my first investment, I am prospecting potential starting properties in my city to learn to efficiently create future-forecast spreadsheets on Excel.

My short-term goal is to purchase a multi-tenant property, specifically a double, or triple-tenant home that I can rehab (if need be) then rent out. My long-term goal is to expand my portfolio and gain enough capital that I can begin investing in commercial properties (apartment & office buildings) and land. 

I plan on becoming much more active within the BP community and am welcoming to all advice, colleague requests, or Linkedin invites.