All Forum Posts by: Kristi Kandel

 @jp is your land in SD? Might be worth talking to this group and seeing if they might be interested in a collaboration. 

https://podcasts.apple.com/us/podcast/the-andrew-hines-real-...

@Ed O. that’s exactly why I created our courses. I got so tired with our industry keeping people out when there are more than enough projects for everyone.

I’ve developed hundreds of CVS and family dollar stores across the US along with the shopping centers, industrial parks, and housing.  Most in California. 

our small and medium communities are being left behind bc it takes too much time and energy to get to know every market and the returns the big guys need don’t work in tertiary markets. 

Why not empower our local real estate developers to transform underutilized properties in their communities (that they know so well) into awesome community assets that benefit all. 

@Zander Kempf I just finished creating our starter course because there are good options out there that aren’t about institutional planning and development. Those are good for the basics but not for practical every day people applications. Our full course will be completed by the end of Q2 and will take people from inception through the final exit strategy.

I’ve been a real estate developer the past 17 years. A majority of my career was in Florida and I’ve owned a development and consulting company since 2015. 

Our mission is to empower local entrepreneurs and investors to transform underutilized properties into awesome community assets that benefit all.

If you send me a DM I can share more about our courses and free webinars. We have another free webinar coming up 5/15 too.

@Kenan Dunst-Fox research the developers doing projects that interest you in your area. Reach out to them and let them know you want to be an intern for a summer. Add value to them while getting exposure to development. Even if it’s unpaid the experience is well worth the time investment. 

@Kirk M. hey Kirk!

I’ve been a developer for 17 years and we have worked in hundreds of municipalities  in CA. 

To start you’ll want to verify the information the broker is telling you with the city/county.  

Once you know what’s possible then you’d likely want to evaluate affordable housing grants, tax credits, tax incentives, etc. 

There might be an option for you to partner with a developer to stay in the deal since you own the dirt. 

If you’d like to talk more shoot me a DM and we can connect! 

@Roseann Koefoed first congratulations! 

I’d recommend getting terms from private and hard money lenders. Likely 5-8 companies that UW loans in this market. 

You can also try regional banks to get the construction and stabilized loan terms. 

Make sure you have a backup plan (contingencies) for if/when obstacles arise and you’re required to spend more money and possible more time (3-6 months) to the overall project. 

For your first ground up it might make sense to bring in your contractor as an equity partner building the project at cost in exchange for equity. That way they truly care about the project’s outcome (time and money) and are your partner helping you solve the challenges that will inevitably arise during construction.

Taking a smaller piece of the pie to gain experience can go a long way in the bigger picture. 

I’d start with talking to the planning department of that municipality to see what the property is zoned for and what the allowed uses are in that zoning. 

Then speak with the planner to see what types of businesses / buildings they think are a good fit for the property based on the master plan for the area. 

I’d probably also speak to some brokers about what they think could work well at that property. You might have a challenge with tenants/customers feeling uncomfortable next to a prison so getting the local insights might be valuable to you as well. 

We are looking at several mixed-use projects right now. I’d suggest talking to the city to see what the zoning allows for from a use and density standpoint. Also speak with the economic dept, Chamber, and any business incubators in the area. They are all going to have insights on the existing businesses that might want to grow/move spaces, types of businesses looking for spaces, and the need of the area. 

Housing is always a plus and depending on the location the city might be willing to reduce required parking for the location depending on the circumstances, street parking, or walkable public lots. 

When you work in partnership with the city you can see if they have economic grants, TIFs, etc. to help offset the remodel costs to both the commercial space and the residential. See if there are county or state programs to help with housing as well. MI and OH have quite a few programs in all of these areas.  

@Sumit Verma ASK all the questions. The lenders can be your best friend and shop it around to a lot of lenders. This is a more risky asset for many lenders and this being your first biz? Learn as much as you can and don’t discount this process as education for the future  even if you don’t close