All Forum Posts by: Iliya Muzychuk

I think you should setup clearer starting questions, like 'What are the regulations for zone X in Brooklyn' and so forth. But great starts with GPTs, I just created my personal engineer here: https://chat.openai.com/g/g-w1y7AtyyG-pocket-engineer

Hi All, 

Wanted to share this experiment I ran on training my own GPT to review deals easily from screenshots. All I do is drop a listing into it and it can analyze costs, financing, comps, and so forth as I train the model. This is one of the new features of GPT4. I've also asked it to create some simple renderings of those deals for reference only. 

I want to know where further to train the model and how further of a use it could be for deals, whether marketing, analysis, financing, design and so forth since for a penny you basically can a junior employee that can copy your work methodologies. 

Also would be happy to connect with anyone who is interested in GPTs, LLMs and Tech in general in our industry. 

Thank and have a great day,

Kristi,

Thanks a lot! Will push on it first before doing any further work! Your advice has been super helpful! 

 Hi Kristi, 

Thanks a lot for this detailed comment, your help is super valuable! And thanks for trying to protect me! Much appreciated. 

Just to clarify, there will not be entitlement nor LADWP, this is a tenant improvement interior project where the permit is approved (We just need supplemental for non-bearing wall layout change) and we're decreasing occupancy. The electrical panel is new and already there. We're decreasing occupancy (From restaurant to B occupancy basically).

The owner is my structural engineer that I've been working with for quite some time and I would like to help him. His company will also be one of the tenants and the other space we will rent out either as an office or a creative studio. So really we are looking at cosmetics, HVAC & minor electrical work that will not increase the panel load. 

But I see what you're saying with a gun over my head, seems like the first thing in order is to clear the balloon threat and ensure all of his finances are in order so I won't be surprised or liable to his debt. Is there options to refinance the loan at the balloon date or delay it? 

Putting it in simpler terms, I trade a 5% developer fee, 5% design fee + 10% contractor fee for sweat equity to raise the value by 400k, what would be a reasonable stake of equity for me? 

I know this is a hard time to pencil down, but it is a small scope where I believe I have sufficient experience to deliver even if it means I paint and install the drywall myself :) 

Hi, 

As an architect, I was approached by the building owner to help increase the value of their building and create a cash flow. The current value is 500k (the Owner has 400k ballon in 18 months), and with 150k remodel I believe I can generate about 5.5k a month gross income. I am going to take on the development, permitting, contracting, and marketing of the building to create two live-work spaces. 

Since this is my first type of sweat equity deal, I have difficulty realizing what percentage I should take and from which portion (Gains, Full building valuation, Cash flow). 

I have two options in this scenario: 

1. Sweat equity only, my labor for %. 

2. Paying the construction costs as cash. 

Wondered what the forum would think about this deal and how should I structure this distribution. I am confident on delivery but pretty new to being on the developer side of things. 

Help would be greatly appreciated! Thanks and have a great day! 

Hi Michael, 

I would love to connect with you and start a discussion. I am an architect who uses generative design to streamline the production of mid-size projects but I am not a full-on programmer. I feel your curiosity on how RE people still didn't figure out that with simple coding they can automate so much of their work let alone create better underwriting models and even design. 

Reach out to me on Linkedin, maybe would be worth to chat about it more there: https://www.linkedin.com/in/il...

Thanks for all the replies. 

I will follow up on more data to learn more about it, but just trying to do a simple thought prediction of what would happen to those developers that started Multi Family projects (Planning and Design - not construction) early 2020, allocated capital and financing and now struck with material and labor cost volatility. Would these entities are at significant risk and would the whole market including who financing these projects are exposed to these risks? 

As an architect I start seeing projects stall since developers didn’t expected to fund the huge price increases of commodities due to shortages inflation and covid. 

What do you think is going to happen in the next 18-24 months period, how will the market act, and where would be best to invest under these circumstances? 

Would love yo hear your thoughts!