All Forum Posts by: Rohan Bhoomkar

I agree with @Jacob Sherman here. I am in the same boat. Looking for of market properties here in Charlotte and I went down the route of looking on Facebook. There are a few groups, and once I posted over there, I had people reaching out to me with information about of market properties. Most of what I have gotten as of market properties require a good amount of renovation, roughly 70 K and above.
this is my first investment property and I am reluctant about putting in 70 K for rehab. I am open for something around 30 K as rehab and a property that doesn’t have any immediate measure maintenance site. I know my criteria but it is hard to find off market property when you have a lot of criteria. That’s what I have learned, I’ll send you a connection request and also the details of someone who is providing me these of market deals from a company called new western. 

Hello Fellow Member, 

I am venturing into real estate investing and in search of my initial investment opportunity.

My objective is to acquire and maintain a Single Family home within or near the Charlotte, NC area. My key criterion is a property with strong potential for value appreciation over the next 5-10 years. My focus isn't on substantial cash flow; I am comfortable with a modest gain. I'm targeting properties valued at around $400K.

I would greatly value any advice on how to navigate this process. Currently, I find myself somewhat overwhelmed by the vast amount of information available, a situation as 'analysis paralysis'. Most of my knowledge, gleaned from online resources, suggests areas like New York or California for properties with high appreciation potential. However, I'm seeking guidance on how to identify similar opportunities in my area of interest.

 Thank you @Kristi Kandel, all your pointers have been just amazing and to the point. all the other research i did along the way just echoes what you mentioned. I have a learned a lot of bookish knowledge since i started researching this. By now i believe i have good comprehensive list of what i need to consider from the Civil engg, permits, estimates, approvals, testing, etc.. all the things that will take place during due diligence time. I think i have some that are MUST have and some that are good to have.

Now my next step is for me to see how i can work together with a partner ( already have one ). I will need to get in touch with an Attorney and Lender ( SBA lender that my Partner has chosen ) to make sure its feasible for me to become a 18% partner because of the SBA restriction.

we have a property identified in a well established business park ( has most utilities setup already ) that is zoned correct. already put in an offer and into the due diligence period which ends Jan 31.  Closing of Before March 1. I need some advice on how do i go about investing 18%, because we are looking at an SBA loan. my Partner need help with more upfront cash. so If im able to put in that upfront value not all at once but more like go 50% in all initial and then for the SBA qualification show the rest of the amount im will to put in.  because my partner is assuming all of the SBA loan risk but getting the loan against his business im open to contribute more earlier. How do we go about it, i fell first thing Monday I got to start calling Lender, Attorney  and CPA. But any and all advice and pointer i can gather here by them will give me time to ruminate over it. 

I know there are a lot of people very knowledgeable in here and must have already solved for this problem statement. How do i easily connect with them?   

Hi @Michael K Gallagher, thanks for the intel. Im into this for the learning and stepping into the Business aspect.
The way this plays in my head is 

A good friend and a small business owner is looking to expand and I get the opportunity to become an investor and learn along the way. He already run the same business this will be a added location and new clients, but instead of renting, which he is doing today, this will me a more established and tailored to need facility/Location. all he needs is a Industrial flex space of specific dimensions. He is already prequalified for another deal which did not materialize as the due diligence did not come back in his favor. 

for me the question is, he is in need for more upfront cash rather than long term where i can join him. with the SBA kind of loan the max i can contribute is 20% , we planned that i can go in 18% just to keep some breather. what we are struggling now is to figure out how i can be a true 18% partner - 18% investment, 18% risk and 18% profit. we both know there is no standard that says how we can do that, and that i was looking into ideas how we can make that happen over here.  

Hi , I'm Rohan. I plan to undertake an Industrial Flex space project, first timer on any real-estate project . I'm very close to putting an offer on a 3 acre land and want to understand all the aspects related to construction I need to be aware of. i have build myself a exhaustive list of all that i need to consider which tell me i need the following people to work with -
Civil Engineer, Architect, Development Project Manager, Construction Project Manager, Other consultants: noise, wind, signage, LEED, lighting, etc., Landscape Architect, General contractor

Usually how would you go about the life cycle of the project. I'm thinking this should be order

1. Find suitable Land - I have found a property that is zoned correctly around 3 acers but has a creek on it and gas line running adjacent to the property 

2. Civil Engineer - to determine building codes and determine area sqft area that can be build 

3. General contractor - to determine cost of building, along with site work and other foundation costs including Landscape Architect

4. Market survey to determine average rent - I already have the numbers for current market 

5. do the profitability maths

6. I'm approved by the bank for a project already, so I need to present the bank with our proposal 

7. work through rest of the construction life cycle with general contractor 

what i'm confused with is, how do i make sure to get least number of surprises the lead bumping up to project cost significantly 
(small additional cost will always be there ) - like sewer/water is on the wrong side of the street we need special contractor and additional work done, very huge storm pond is needed, etc.. 

can i put a contingency in the land deal so that i can get enough time to square out all such unknowns related to that specific property ?