All Forum Posts by: Michael K Gallagher

@Brandy Johnson thanks for putting this together, it clearly took a lot of time.  I tend to side with the "starting small" and really like the house hack method in my market.  

@Paula Blanton welcome Back!  and excited to hear about your deal!

Hey @Hiren Patani it sounds like you are planning to aquire a larger plot of land and that is raw and needs partitioned and prepared for deveolopment?  

While I'm not against that route, a slightly "shorter" route to new build could be to find lots in areas of the city that are already zoned for small multi family.  In my market there are often tax incentives on the finished building in these areas as well.  

@Ashley Wilson fantastic sentiment.  Thanks for taking the time to put this together.  "scaling" did somewhat become the trending thing to do at a certain point, but there is something to be said for a lean efficient healthy company that allows its employees and owners to live the lives they want.  As you said, theres no real right or wrong, but that sure sounds more fun to me than chasing a top line number.  

@Jillian Shuler commenting to stay on "DCL" forumns...I've vacationed here several times with friends and very much love the area winter or summer.

@Scott K. could you simply stipulate that any remaining oil is purchased at the price it was originally transacted.  So if you purchase from the old tenant at 3.23 the new tenant purchases from you at the same price.  In this instance it would perhaps be a negative delta for the market value but there is an instance where it works out in the tenants favor.  again not sure if your local laws allow that but if its a straight reimbursement that seems like it would be the cleanest to me.  

@Desiree Rejeili thanks for writing this up.  I'm a big fan of townhomes in general and a popular thing in my market is to convert older small multis into condos or townhomes as a way for force apreciate.  The issue we run into here especially with new build townhomes is that the general price point of the townhomes are not much less than a single family, and the "burbs" are not all that far in many areas, so there tends to be a very specific person here that goes for the town home in my experience, and its not always price driven.  But we do need to figure out something here for housing density and I'm a townhome fan.

Hey @Carlos Quiros as far as economic drivers, there is really not much there.  honestly most people that live there likely commute to the west side of cbus for work, or perhaps work at the hospital, but most people I know that work in Springfield live in cbus and just drive.  Like with anything there is an approach that will work, but if your long term plan includes any kind of appreciation, springfield aint going to cut it compared to your cbus investments. 

This might be a hot take but I'd rather see someone get a property in the hilltop than Springfield.  At least there is a wave in the hilltop that is rising.  

@John Matthew Johnston It would likely be more efficient to market the available space as is.  if you don't have a space plan or floor plan for the current space its likely worth getting to help market.  The tenants that reach out to lease the space will likely ask for some kind of tenant improvement allowance to assist with the buildout.  You could be involved in that depending on the landlord's work requested in the deal, but generally the tenant is goign to have their own contractos come in and do the buildout, you'll likely just be contributing via cash up front for the buildout or abeted rent of some kind.  

Obviously the most efficient thing would be to find a similar med office use.

Is this a lighted intersection? near a retail center point of some kind?  single tenant or multi tenant building?  

@Robert Ellis love this attitude and very much tend to agree with the logic.  Plenty of land here, just needs entitled.  very cool way to add value.