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All Forum Posts by: Robert Carpenter

Robert Carpenter has started 6 posts and replied 29 times.

Post: Florida Luxury SFR Master Mind Alliance ?

Robert CarpenterPosted
  • New York Metro
  • Posts 30
  • Votes 4

Hi Everybody !  Hey I feel like Florida is  one of the prime places to be at the moment in the single family residence space and wondered if there is a 'Master Mind alliance' for same, to use Napoleon Hill's term.   Incidentally I learned recently that  Hill retired to Mt Dora, Florida just Northwest of Orlando.

Post: Developing small community,

Robert CarpenterPosted
  • New York Metro
  • Posts 30
  • Votes 4

Actually I believe Houston may be one of the few places left to us that has no zoning laws - or at least it is about the least zoned place in the US.   At any rate I have great interest in these sorts of design problems. 

Post: Investing in New York City Hotels

Robert CarpenterPosted
  • New York Metro
  • Posts 30
  • Votes 4

 Schematically AirBnB seems to be exerting downward pressure on hotel rates - as are micro-hotels - the pod style tiny hotel rooms many of which are on a common  bath. At the same time co-living and co-working seem to be merging into something like the resuscitation of the old private club with elements of the old company town reappearing as well.   And one mustn't forget that serviced apartments and  individual hotel rooms now tend toward the same endpoint. 

At any rate I worked up a design which seems to me to be the smallest possible footprint which can sill offer  private bath [a non-negotiable amenity in my book], micro kitchen, office, and king size bed.  [ In my younger days I stayed at a hotel in London with a shared bath - but at this stage of the game I think I'd sooner stay home. ]  In this way the place can work as either a serviced apartment or a hotel room. I tried hawking my ideas to a number of  boutique hotel developers and micro hotel operators  but  no takers so far :)  

Of particular interest to me is a company call Industrious in the co-working space.  If I understand correctly their business model is based on a partnership / profit sharing arrangement as distinct from leasing and then subleasing as is the case with WeWork. I find this very appealing.  It sidesteps the conventional risks of both a purchase or a lease, saves time and energy, and puts all of  the focus on   offering the consumer better price, better design, or both. 

Originally posted by @Will Barnard:

Almost all of my projects involve additions to the square footage of the home. In fact, in our competitive market, adding square footage is a strategy that makes sense in today's conditions since I can build for less than I can buy. So by adding size to the home for X, then selling for y, I have "created" an equity spread to cash out on that was not present at purchase.

Makes total sense - and cents :) Hey you know I think in your neck of the woods, the LA Metro Area, there are Real Estate Investors who have even transitioned out of multi-family to concentrate on rehabbing just one SFR - admittedly a MEGA SFR - at a time.
The Hadid sister's dad apparently pursues such a  strategy taking an existing mansion and up-scaling and up-sizing it - usually with great success - although I think he may have recently hit something of a speed bump.  Hope it all works out in the end. 

As well there is a story about  a house in Bel-Air purchased  for  $ 11,000,000.00 2014.  After a major rehab,  and a whole suite of additions bumping up the size by 20,000 sq ft,    it  sold recently for $ 75,000,000.00 - tending to confirm your theory - and then some.  Its named 'Villa Sarbonne'.  

Originally posted by @Greg Dickerson:
Originally posted by @Robert Carpenter:

I'm a big fan of Frank Lloyd Wrights open plan 'Unsoninan' homes.  I think there are rehabs where the living space is so small it makes sense to put in a spacious open plan addition and use the existing living area for other things.  If anyone finds themselves in such a situation I'd love to take a look. 

This can be a good solution but you need to be careful to not over improve the property.

I totally agree, and much depends on where you are. Here in the New York Metro market, there are many very small 'bungalow' style homes where the living room isn't much larger than the bedrooms. My theory is when Americans first left the city for the suburbs, developers simply reworked apartment floor plans into SFR's.

Originally posted by @Steven Lowe:


Approximately half of the SFR rehab projects I've done this year had additions as part of the scope of work so it's a common thing for house flippers to do in the Chicago area.

Frank Lloyd Wright's studio is about 4 blocks down the street from me.   

That's nice to hear.   A great case study for the open plan addition is Wright's 1953 Exposition House, which once stood on the site where is now the Guggenheim Museum - making it probably the only 'Atomic Ranch' ever built in Manhattan :)  

I'm a big fan of Frank Lloyd Wrights open plan 'Unsoninan' homes.  I think there are rehabs where the living space is so small it makes sense to put in a spacious open plan addition and use the existing living area for other things.  If anyone finds themselves in such a situation I'd love to take a look. 

Post: Investing in New York City Hotels

Robert CarpenterPosted
  • New York Metro
  • Posts 30
  • Votes 4

Oh OK.  Thanks for volunteering your expertise.   When I have a little more knowledge on

the subject I just might take up your generous offer. 

Post: Investing in New York City Hotels

Robert CarpenterPosted
  • New York Metro
  • Posts 30
  • Votes 4

Just wondering if anybody has had experience investing in hotels in the Big Apple.