All Forum Posts by: Michael K Gallagher

Hey @Andrew Bosco I have not personally done it but some of the biggest data centers are going up in central OH.  I'm sure we could find you someone to talk to on the ground here.  Obviously the dev here is going to be different just given the difference in geographies and an over lack of granite in the ground here, but theres an epic amount of projects going up here if you're interested in that kinda thing.  

@Mostafa Koperly what is the underlying property asset like?  is it in a high visibility area?  part of a current medical campus?  is med basically its only use case for filling with new tenants?  What kind of exclusives in the area does the current tenant have?  

In my experience strictly med buildings are generally developed in the same way as part of a campus or off the path a bit from the main retail corridor, so it really is only suited for that use.  We do Urgent cares all over the county and get pitched med office spaces all the time, and none fit our profile for visibility, for our use at least, only because we follow a more "retail" modeled approach to site selection, given the business type.  

My point being, whats the plan for after the current tenant leaves?  whats other use cases, if any?  Those are going to be my biggest questions when looking for something like this on or off the market.

Hey @Erick Hennings welcome to BP.  I'm sure there are likely articles and posts on the BP blogs about this very topic, don't be hesitant to check those out.  

I'm not an expert on that market but there is no substitute for local knowlege and time spent on the ground.  If its the trendy hot areas, or general "path of progress" and your able to make a trip and go drive around to find that "path" its really the best way.  Or reach out to an investor agent here and see if they'll provide some kind of webinar to explain the general trends.  

Gotta 1 up @Jonathan Greene its for sure a different and more relational game. At least at the succesful levels I've seen. I'd say there is even more value in commercial to nitching down than there is in residential. There are so many boutique level asset niches you could get into, and that in of itself with likely send you to specific meetups and events to kickstart things. being a "generalist" is not really an option in commercial in my mind. You could maybe have a couple of related or satellite nitches....but you're not going to be able to be successful in ever CRE asset class. theres just too much to learn.

 I work exclusively with investors and in the commercial space.  I rarely take down a single family and when I do its for a rental.  I was a project manager and engineer first, and bought a house hack years before I was licensed.  

I generally place my value on being a true on the ground resource, for my clients not only to go to areas or properties, but that I live every day in one of the most investor focused areas, and continue to work to stay in front of the market both on sales and on rents.  

To me being a real investor friendly agent comes down to being able to get into the weeds as the devil is in the details but also being able to zoom out to 30K feet and see the market as a whole and advise accordingly.  

How you specifically add that value can be done a tone of ways.  Also I should make it clear, I am really not all that successful of an agent, I'm not pulling down huge production numbers, but I'm also not really interested in sacrificing quality of service for volume and Ive not yet figured out how to scale in my way yet...but I've been at it about 3 years full time, so I'm still working it out I feel.  

if you don't have an agreement with one, and your actually intend to take the deal down, I'd just go with who brought it to you first.  but inquire as to if they have a listing agreement or not.  you generally don't want the seller and you reped by the same agent.  at least in my opinion.  having just you repped is fine in my opinion but the dual sided thing with an actualy listing contract gets a bit dicy for me personally.

hey porter, not sure I understand the two options.  but if you are asking if you should wait till you have a job or invest now, My advice is always to do it sooner rather than later.  If you have the means to get a loan and house hack in your current situation, I'd think living in a college town and knowing that town and area well would give you a strategic advantage.  

The lowest barrier to entry I've seen for house hacking would be to find areas with grant loans, there are several here in central OH, they are general "majority minority" areas, but many local banks are incentivized to do loans in these areas, so you can often get into a 2-4 unit with no money down, and 15K towards closing costs and rate by down. if you aren't will to or don't want to go into those types of areas, but by all means the FHA or 5% down conventional 2-4 unit loan is gonna be the way to go in my opinion.

We did a house hack as our first move into reale state investing and it was the best thing we ever did and continues to expand ints benefits to us every year, So I am a huge fan of the strategy.  I think its the single best way to start.

Austin that is legit amazing, I hope you are very very proud of what you have accomplished because not many people take that much action so way to go!!!

Tell us some more about the house hack is it a true multi family or are you just rocking with roomates?  you say youre in central coast maine, is that a specific city or a region?  I'm from NH originally, but only made it as far up as ogunquit, so excuse the ingnorance.

Very interesting thanks for sharing, how does this kind of thing differ form the chip manufacturing and server farms we are seeing in the midwest also?  any benefits to this quantum thing over and above the other assets as far as growth or economic impact?

Its been a couple weeks since returning to BP con, and I feel like its taken about that same amount of time to wade through all my notes, ideas, inspirations, and things i "could do".  

I can say for certain my top 2 moments of the conference were the initial guided networking session lead by Andy Gil, really was a great small group of investors and I'm confident I'm going to consistently keep up with their journeys!

The 2nd was the literal 1 on 1 time with the one and only @Scott Trench in the "how to use your BP profile to grow your biz" breakout.  The  fact that Scott looked at my profile and gave me candid and action feedback on something that I've spent YEARS building was trully incredible and honestly worth the cost of admission just for that one breakout.  

Takeaways and next actions for me became very clear in that I need to get back to my basics, posting here, and making offers.  If I can work to track the number of offers I'm making per week or per day with my clients it will drive the business not only on the transaction side but will push and pull forward the need for off market deal flow.  Its nothing new or exciting, but its a slightly different way of my brain and mind taking it in and it seems to be the combination I needed.  This combined with actually getting a handle on the success rate of the leads I am getting will bring the clarity to my biz I am severely lacking.  

What's your takeaways if you went to BP con?  any actions you are tracking now?