All Forum Posts by: Marshall Adams

Can you be more specific which area in/near Savannah your property is located?  I've lived in Savannah now for more than 12 years and so maybe can offer suggestions/experience based on the area.  My experience has been that Savannah has generally had and has a strong rental market.

Hi everyone! 

I'm looking for some perspective from more investors who have done commercial adaptive reuse projects.

TLDR:  

Is operating my commercial property handyman company (it's just me right now) the most effective way to eventually do REI full time in adaptive reuse of commercial properties? (Buy, reno/modify, lease out).

BACKGROUND:  

I own and operate a local commercial property handyman company in my city that I started as a way to gain some familiarity with real estate for the purpose of eventually becoming a full-time real estate investor. It was an easy segue to this line of work from my 12 years in the corporate world with my experience and aptitude (mech engineer by degree). I started this company about 18 months ago.

I've discovered that adaptive reuse (or at least BRRRR) of small-medium-size commercial buildings is my biggest interest in REI. I enjoy the handyman work, but is operating this type of business the most effective/expedient way to secure my first deal of this type? I am wondering if somehow working in real estate development capacity would be more beneficial for this particular realm of REI. Can I somehow pivot my company to begin doing CRE development services? (any recommended/required licensing, etc for this?) Or get a "regular" W2 position with a commerical RE developer?

OR...maybe it doesn't really matter? - Like, if you can secure the deal, you can secure the deal, regardless of your "day job"?  Thank you for any thoughts!

Hi Elise,

That's helpful info you posted - thank you.  Couple of questions - was this a metal fire escape or wood? (I notice you say that wood is permitted in your area up thru 3 stories).  Also, did that company do the design, build AND installation of the fire escape?  I live in Savannah,GA and am doing some research on 2 and 3 story fire escapes for a mixed-use building I am looking at renovating.  Kinda surprised I am not finding more info on this topic as I search.  Thanks!

Following.  I am looking a doing a similar thing where I live here in Savannah, GA.  

AP, do you know what your property will be worth after constructing the metal building? I ask because I wonder if constructing a new metal building adds more value to the whole property than it costs to build the building. In other words, in rough numbers for example, if the land is worth $50k, it costs you $50k to fully construct a new metal building on said land, is the property basically worth $100k, or is it substantially more? I know there are many factors playing in to property value, but as a newbie to REI I am trying to understand this. Thanks for any input!

Thanks Andrew!

Thanks Wesley!

Ok thanks for the tips Pat!

@Colton Chenowith, I only found out through the Savannah Real Estate Investors Facebook group.  (My apologies, I thought I posted a link to it when I asked you.)  Are you a member of that group?  Here's the FB page: https://www.facebook.com/group...

John, thank you very much for the insight and information.  Duly noted!

Colton, thank you for reaching out! Yes, nice to meet a fellow engineer in the area. Yes I'd be happy to meet up sometime. Are you planning to go to the Savannah area REI meet up this coming Friday (tomorrow)?

Hey Harrison!  Just saw your post and accepted your connection request.  Do you play drums?  (I see the background in your profile pic.  I'm a drummer!