All Forum Posts by: Kim Hopkins

I can't do the PO Box because I need the mail forwarded.

@Chris Weiler Does your local mailbox forward the mail to you? We need one that forwards the mail for us when we are out of state.

@Chad NagelCan you have them receive mail that's addressed to multiple different LLCs? Do they care? 

I'm also interested in this if anyone has a cheap recommendation for a virtual mailbox. 

Liberty Healthshare. Google it.

@Jameson Sullivan Sorry for the delayed reply. I'm just getting back to this direct-to-owner approach since the deals I'm getting from brokers are priced like crazy-pants. To reiterate, one of my biggest issues is identifying if the property is MULTI-TENANT (vs single tenant) and finding the owner of the building. 

Do you like ProspectNow? Do they tell you if the building is multi or single tenant? How does this vary from CoStar (which I am also contemplating purchasing)? 

Thank you!

Thanks @Mark Creason and @Ronald Rohde! Yes, I am quite familiar with this size of space and you are right that it is usually best to combine the management with leasing so that it's worth the $ to do the leasing. What I'm looking for here is more local knowledge of the Arlington area to know if there is a high vacancy and in particular if there is demand for these spaces. I'm surprised they have any vacancy at all - in the other markets where I have these kinds of properties, we have 100% occupancy and a unit stays vacant for at MOST 2 months. 

Thank you!

Hello hello! We are looking at purchasing a potential property in Arlington Texas area code 76015. 

We are looking at a 30k SF multi-tenant light industrial property in Arlington. The building is fairly new and has small units (<2,000 SF each). The doors are grade level with only a 10' clear height.

It is currently 30% vacant but I've been told this is because they are using a big firm to lease and manage the space, who apparently aren't doing a good job on these kinds of properties. 

The building appears to be in a fairly large industrial pocket and I read that Arlington is home to the largest business park in North Texas so I'm wondering if the truth is there is too much available for rent and not enough demand?

Do you know anything about demand for spaces like this in Arlington or anything else that might be helpful for reviewing this property? Anything you know or anyone you think we should talk to would be helpful, especially leasing brokers and property managers in the industrial space. 

Thank you!

Kim

@Linda Weygant Perfect! Thank you so much! This explains it. Really appreciate it. Wish there were good models for me to use for this. I'm sure there are but the nuances can be confusing.  

Thank you @Tyler Kastelberg as well - your answer also helped clarify it for me. 

Thank you!
Kim

Hi Tyler, Yes I take reserves out for the property tax each month. That's why I'm saying that even though the lump sum was due in January, I'm not actually cash flow negative since I used the reserve. Also this is not for deal modeling. This is my actual property and I'm trying to show my monthly actual cash flow so I'm not sure I want to use the accrual method. 

I'm asking how this large payment would be modeled in a cash flow statement?