All Forum Posts by: Pete Blankenship

Title: Navigating Mobile, AL: A Primer on the Commercial Real Estate Market

Welcome to the heart of the Gulf Coast! Mobile, Alabama, is not only a cultural hub but also a burgeoning center for commercial real estate investment. With its strategic location, robust economy, and diverse industries, Mobile offers a promising landscape for investors seeking opportunities in commercial properties.

**1. Strategic Location**: Situated along the Mobile Bay, Mobile serves as a vital port city, connecting the region to international trade routes. Its proximity to major highways, including I-10 and I-65, enhances accessibility and facilitates commerce, making it an attractive location for businesses seeking logistics and distribution centers.

**2. Diverse Economy**: Mobile's economy thrives on a diverse range of industries, including aerospace, maritime, healthcare, manufacturing, and tourism. The presence of Airbus' assembly plant, the Port of Mobile, and the University of South Alabama contributes to a robust economic ecosystem, fostering job growth and business expansion opportunities.

**3. Growing Population and Infrastructure Development**: Mobile's population continues to grow steadily, driven by a mix of natural population growth and inward migration. This influx of residents fuels demand for retail, office, and multifamily properties. Additionally, ongoing infrastructure projects, such as the revitalization of downtown and investment in transportation networks, further enhance the city's appeal for commercial real estate development.

**4. Emerging Trends**: Like many cities, Mobile is experiencing shifts in consumer behavior and workplace dynamics, influencing commercial real estate trends. The rise of e-commerce has spurred demand for last-mile distribution centers and industrial properties. Furthermore, the evolution of remote work has reshaped office space requirements, with a growing emphasis on flexible, collaborative environments.

**5. Investment Opportunities**: Investors exploring the Mobile commercial real estate market can find a range of opportunities across different asset classes. From retail centers in bustling neighborhoods to industrial warehouses along transportation corridors, the market offers diversity and potential for attractive returns. Conducting thorough market research and partnering with local experts can help investors identify lucrative investment prospects aligned with their objectives.

In conclusion, Mobile, AL, presents a compelling case for investors seeking to capitalize on the region's economic vitality and strategic advantages. With its diverse economy, growing population, and evolving commercial landscape, Mobile offers a dynamic environment ripe for commercial real estate investment. As the city continues to thrive and adapt to changing market dynamics, savvy investors stand to benefit from the opportunities that abound in this vibrant Gulf Coast community.

Hello BP Community,

I hope that everyone reading this post is doing well. My name is Pete. I am a realtor, investor, and wholesaler in Nashville and the Middle Tennessee area.
My team and I at Sundae are bringing on all kinds of properties for purchase and investment.

Please check out our site here and sign up if you are interested in viewing properties that are available on the Sundae Marketplace. It is 100% Free! I will get a notification when you sign up and will reach out to you directly.
https://marketplace.sundae.com...

I am directly affiliated with Sundae Marketplace, and am an employee of Sundae Funding.

Thank you and I look forward to connecting with you!

#Flipping #HouseFlipper #Wholesaling #Buyandhold #LandAcquisition #SFR #DistressedProperty #landforsale

- Pete 

@Luka Milicevic thank you for your input. 100% they are definitely targeting residential property areas.

Excellent point regarding LLC's.

Yes I know if you apply for and obtain a permit you cannot move property into LLC otherwise that is considered a change in ownership and the permit will have to be reissued under new permit. Definitely want to move property into LLC prior to obtaining a permit if you are planning on doing so.

The LLC rule will only apply to RS or owner occupied permits as these permits have to be applied for by a real entity or person(s) no LLC's.

All zonings that will allow NonOwner occupied permitting moving forward are MUN and MUN-A, MUL and MUL-A, MUG and MUG-A, MUI and MUI-A, OG, OR20 through OR40-A, ORI and ORI-A, CN and CN-A, CL and CL-A, CS and CS-A, CA, CF, DTC North, DTC South, DTC-West, DTC Central, SCN, SCC and SCR zoning districts.

@John Underwood thank you for your input John! I will definitely look into that!

Hello BP Family,

I hope that everyone is doing well this Thursday morning in November. As I write this article I have had several clients call me in regard to properties for sale in Nashville and I thought I would write a quick message about this topic in case it helps anyone else in the future or at least throughout the remainder of 2021.

My name is Pete and I am a Short Term Rental Manager and Realtor in Nashville. The topic is in regard to RM zoned properties that are currently able to apply for a NOO (Non Owner Occupied STR Permit). There has been new regulation voted on in the earlier part of 2021 that will phase out new permitting for owners of these RM zoned properties throughout Nashville starting on Jan. 1, 2022.

If you purchase a property in this zoning, close, and apply for your permit prior to Jan. 1, 2022 then you will be grandfathered in on this zoning and your STR permit as long as you keep your permit active with a yearly renewal fee (currently $320 with a credit card).
However, if you purchase a property in Nashville that is currently an STR at a current income-based appraisal approach in these zonings it is important to know that you will more than likely not be able to resell this property to anyone else under this appraisal approach and could greatly affect your long term plans of these types of properties.

I have had several other realtors, investors, developers speak with me recently with the solution that they could simply put the property into an LLC and then sell the whole LLC in order to skirt around this new regulation. While this may potentially be possible ( I AM NOT AN ATTORNEY/ THIS IS NOT LEGAL ADVICE) I do not believe this would work. A new permit is applied for every time the property changes ownership as the permits go with the owner and not the property in Davidson County (Nashville, TN).

Please feel free to connect with me if you think I can help.

As always keep smiling, keep learning

Hi Brent! I would be happy to help you here to navigate this question. I am probably not the MOST qualified to answer your question in regard to the best way to finance/lending.

If you can shoot me a direct message with the property address or connect/message me on LinkedIn then I can help you best understand STR for your property.

@Louise Lechat shoot me a message please tomorrow.

I will help you the best I can as someone who is very familiar with STR in Nashville.

@Pete Blankenship @jeff Harvey

@John Underwood in certain counties in TN like Davidson (nashville) you cannot get owner occupied permits in an LLC.

99 % of owner occupied permits are for Residentially zoned properties.

@Jonathan Balos I am actively helping investors navigate STRs in nashville.

I would be happy to help you run data and let you know the permitting I do as it is based on zoning much Luis these gentlemen have mentioned.

Feel free to message me and we can move forward through email.