All Forum Posts by: Rob Ibarra

Quote from @Don Konipol:

Quote from @Rob Ibarra:

Good afternoon BP,

I came across an off-market overlooked listing for a 100 pad RV Park in GA and inquired on it, and waiting on a response from the owner. I don't know much more about it now. HOWEVER, BP friends that are in this space right now, what should I ask about when I do speak with the owner? What are the red flags and concerns? If there is an itemized list somewhere, I'd love to see it. I don't have experience in the Mobile Home/RV/Campground space. Any and all help is greatly appreciated. Thank you!

“I came across an off-market overlooked listing”

if it is a listing then how could it be “off market”?

Craigslist listing, not on MLS (Crexi, Loopnet) is what I mean.

Quote from @Chris Seveney:

@Rob Ibarra

Say they come back with an offer. What is your plan? How would you manage it? You mention you have no experience in these types of parks and your first deal you want to take down 100.

When I was working for a GC we did a condo project for a developer who never developed a building before and he sold his company (it company) and used the entire amount to develop real estate.

He ended going bankrupt because his inexperience with his experience and his designers and every mistake they made was multiplied by 150 since that is how many units there were.

While not identical it can be similar, the larger the deal the greater the mistakes are emphasized.

I have been in real estate for a few circles around the sun and I would not myself nor recommend to others to bite something off this big to start.

 Wise words and well-received. I never did hear back from the owner who I reached out to originally to get his plans with the property and what rent rolls could be and current/future expenses on the property, etc. I haven't progressed beyond that. The idea is a good one, but I don't think the property will cashflow due to being based off a singular nuclear site and workers/engineers from that site. They finished one reactor (the years of constant transient workers staying nearby in RV's and mobile homes), but the majority of contracts are complete and they naturally go home. He bought it with the expectation that they will build #5, but that's up in the air and years down the road. That would NOT be enough for me to buy 100 units unless it's a incredibly low price, then work on filling the site with long term RV tenants while I wait for the new reactor and cashflow in the meantime. Again, I haven't done anything yet on this, but reach out. 

Thank you for the insight! I have been looking for a retired kitchen space to cut down the costs. It has taken a while, since most of the restaurants for sale on MLS are incredibly high priced. The hunt continues, but that's also part of the fun. Thanks again!

Has anyone here bought a franchise business with a SBA 7a loan? If so, what was your experience during startup and growth of the business? I am in the process of approval to purchase a franchise. Thank you for any help and guidance.

Good afternoon BP,

I came across an off-market overlooked listing for a 100 pad RV Park in GA and inquired on it, and waiting on a response from the owner. I don't know much more about it now. HOWEVER, BP friends that are in this space right now, what should I ask about when I do speak with the owner? What are the red flags and concerns? If there is an itemized list somewhere, I'd love to see it. I don't have experience in the Mobile Home/RV/Campground space. Any and all help is greatly appreciated. Thank you!

Quote from @Michael K Gallagher:

@Rob Ibarra Converting non restaurant space into restaurant space can be fairly costly from what I understand due to the need for larger than standard water lines to service the building and a general need for grease traps and other restaurant specific infrastructure.

My first question around going from abandoned auto shop to kitchen is zoning, could you even get the use approved, and then are their any environmental factors in play?  I'd certainly recommend doing some kind of environmental study given the chemicals and such that could have been used there but more-so I'd be curious if the city wouldn't have a testing requirement to redevelop.  I don't know, these are just the questions I'd be looking into.

Thank you for the insight. I have been finding out the high costs of conversion if the site isn't ideal for it. Great info thank you!

Quote from @Eitan Rozenberg:

Hey Rob. What market are you looking to buy in? I know someone in DC looking to sell a shared kitchen space...

I’m looking in my local market here in Augusta, GA since there is a demand for it and only two small providers. If you could, send me over a listing and/or additional information on that space so I can take a look. Thank you for reaching out!

Hello all,

I am hunting for a property that will serve as a commercial kitchen business I want to start. Does anyone have experience in kitchen conversions, hospitality conversions, etc? I may have property that has an old abandoned auto shop I can remodel and repurpose to a commercial kitchen. I need the BP brains on this one. I haven’t undertaken a project like this yet, but I am looking forward to it. Thanks in advance!

Quote from @Jaron Walling:

Quote from @Rob Ibarra:

Quote from @Jaron Walling:

Love the self service car wash but not a fan of the detailing bay connected to it. The auto detailing businesses we have worked with either make you drop the vehicle at there place, or it's completely mobile. I can't see detailers wanting to rent space with a carwash connected. It's an unnecessary expense to operate the business.

Thank you, love the insight. What would you suggest on improvements and value adds for a self-serve car wash?

 If the property is big enough you could add vacuum stations. I enjoy washing my car and truck and like the convivence of doing a quick vacuum on my floor mats.  

You could install vending machines. Anything that's quick and easy to purchase when someone is washing a car on a hot day. 

Paint correction and detailing take hours of labor, materials, and a dust free environment. It's never quick and easy. My neighbor details cars and motorcycles as retirement side-hustle. He keeps the customers vehicle for at least 2 days. 

Thank you for the insights, awesome information!

Quote from @Jaron Walling:

Love the self service car wash but not a fan of the detailing bay connected to it. The auto detailing businesses we have worked with either make you drop the vehicle at there place, or it's completely mobile. I can't see detailers wanting to rent space with a carwash connected. It's an unnecessary expense to operate the business.

Thank you, love the insight. What would you suggest on improvements and value adds for a self-serve car wash?