All Forum Posts by: Mark Roberts

I’d be interested in attending!  I live in Georgetown but would be open to anywhere in Round Rock.  I’m trying to find more deals north of town because I’m so burned out with getting to Austin.

Hello Jeff,

Just came across your post about the lot you are purchasing in Austin. I'm a builder who is working on a number of projects in Austin including a couple of ADU builds. I work closely with a few architects and engineers to help get a project going. Let's visit more to see what we could do together.

My website is Co-Sci.com

Mark

I focus on residential projects in and around Austin. The majority of what I do is new construction of infill lots with ADU's. For remodels I'll take a look at just about anything but these days I typically take on projects that are extensive and / or include additions. Most of the time budgets for remodels I work on are $120k+. Another thing that I've started to focus on is partnering with investors to have an equity share in the project vs. only being builder for hire. This works well as I'm bringing some cash to the deal. Let me know if you have anything coming up.

I wanted to put a quick post on BP trying to find someone hungry to get into the real estate / construction business.  I started my construction business about 2 years ago and things have really taken off.  Now I'm in need of some help managing projects.  I build and remodel in central Austin for both investor clients and personal investments.   If you know of someone or are interested yourself in residential construction and investing shoot me a message!  

@Asad Halai It's going to be tough to build at that price / ft.  I'm currently working as a builder for 7 new builds in Austin and it seems no matter what we do we just cannot shave the numbers any where near $100 / ft.  Shoot me a message w/ your number and I'll give you a call to run through a number of cost that are just a part of building in Austin.  I'd be more than happy to help you with any construction management questions you might have in hopes that we could potentially work on something together in the future.

@Account Closed Cullen I'd love to visit with you about the projects you've done tear downs on and see if we could potentially work on some deals in the future. 

I'm looking for a referral for a CPA in the Austin, Round Rock, or Georgetown. Looking for someone who is well versed to assist with my construction business as well as personal investing.

I'm in search of any investors who work in Texas City.  My grandmother has reached the point where she cannot live on her own so its time to sell her house.  It's on 13th Ave right across from the school.  If you work that area please let me know.  At 95 she can't do much and hasn't done much for a long time so its a fixer upper. 

I've been kicking around the idea of investing in self storage for a while now and want to pull the trigger on getting my first property.  Over the weekend I sent an offer over for a property that I feel has potential and I'm expecting to get a counter offer tomorrow.  I wanted to put it out to see what kind of insight some of you all might have on the deal.  

1. 36 unit facility (35 are 10x20 and 1-9x6). Current rent appear to be a promotional price of $99 / month / unit with past rents of $130.  Looking on SpareFoot it seems $130 is about market price for a 10x20. 

2. Monthly rental income reports form the seller dated 3/15-2/16.  Show on average 13 units rented for rental income of around $1800 / month.  There did appear to be a steady decline in the rental income over the 1 year period.     

3.  For my analysis I've used the below estimated cost for expenses.

4.  Loan - I'm working with some local lenders to see what options I have as far as rates & terms since I have no commercial experience.  In my spreadsheet I used 20% down, 5% interest, 25 years.

5. Original offer was $140K and per the seller's agent they plan to counter at $160K.  

6. Other factors that might change the deal...

- The property is a 5 hour drive from me.  There is no leasing office on site.  Currently they facility has internet access with a sitelink computer system and a digigate access control.  Hope is I can field the day to day phone calls and hire someone local to tend to the property as needed to add/remove locks, sweep units, etc.  Local mgmt has been estimated in the property management line item above.  (I have no personal experience with Sitelink or Digigate... Possible?  or Crazy?)

- I don't know how to get statistics on the market being saturated or underserved by storage facilities (probably my biggest concern).  Any direction / input on this would be greatly appreciated!

- Marketing - I've not budgeted for marketing and have no experience marketing a storage facility.  Currently occupancy is low but hopes to turn that around make the deal sweet in my opinion. 

Thanks in advance for any input!   

I'd be interested in looking at it. I live in Georgetown about 15 mins from weir.

I'm looking for some advice on how to best use the equity in my primary residence for investments.  Currently I have about $90K in equity on my primary residence and still owe $50K.  I purchased the house a little less than a year ago and have completely remodeled it so I think current value is around $225K.  I've never done a refinance before to pull money out but I'm thinking that might be an option.  I'm looking to get started in buy & hold investments and/or rehabs, any input on which way to go would be greatly appreciated!