All Forum Posts by: John Ringgold

Wow!  Awesome advice from everyone!  Thanks for the info and detailed responses!  You all are awesome!

I may have run across an owner of a self storage facility that may want to sell.  As a residential Realtor, analyzing a value on a residential property is not hard.  This is a different animal for sure and I don't get involved in the commercial space on a regular basis, however I would like some advice of putting a value on a storage unit facility.  

Would you use the income approach?

How would you factor in vacancy?

What else might I need to ask that I am not asking?

Thanks @Henry Clark and everyone else!  Great next steps!

I listed it a few months ago and this corner of the golf course was platted and never finished.  My seller owns about 1/3 of the lots and another owner owns the rest.  Neither have taken the time or spent the money to finish it up.  I've had lots of buyers wanting to build interested in the building lots individually, but no one yet wanting to do the development portion.  You can see from the images, there are lots of nice homes surrounding the course. The owner of the lots to the north bought the lots and didn't complete her section, so my seller never completed his.  He has visited with the city about pulling the utilities from the south as an option as well.

There currently are not roads, storm sewer or utilities to the lots.  How would I find someone to tackle this portion of the project?

I am a Realtor and have 14 building lots for sale that I believe would make a great investment as many of them back up to a popular local golf course, however I am struggling to connect with builders and developers.  I have reached out to the local options and not having any luck at the moment.

Any advice to reach possible out of state developers looking for their next development project?  The lots have already been platted and I believe if I could find someone to do the development, the builders would come!  

I'm not finding a real estate development section on BP to try and make connections.

Ideas?

Hi Robert!  I am a Topeka investor and Realtor and am very familiar with all the A, B, C and D class areas. We also have a great network of local investors and occasionally happen upon off market opportunities we may be able to share. Let’s connect, I’ll be happy to answer any questions you may have. 

 LOL, ChatGPT generated?  It's a great resource!

I agree completely!  I am also in the Topeka market and an an agent and an investor we can actually measure investment opportunities by the 1% rule.  We currently have a few multi-family opportunities on the market here that beat the rule!

We recently bought a full duplex that is going to cashflow over $500/month!  We did replace flooring, light fixtures, updated the bathroom and painted the interior, but overall, it was a light remodel.

Here are some of the best opportunities in the area if you'd like to check them out for yourselves!  https://searchtopekahomes.com/...

I am already in the program and have closed $31k in 2022 from BP leads.