All Forum Posts by: Veeno Suchdeve

Thanks Taylor.  I will add reserves for damages.  The rest of the items you mentioned would fall under property management.  

Hello all, 

I am working on my first warehouse site to convert to self storage and have been on youtube and learning about this asset class.  I'm having a bit of difficulty putting together a list of monthly expenses that I should account for for a climate controlled site. 

For now I'm using 35% expense ratio to move forward and now the deal is getting more evolved and I feel I need line items for expenses and not just a %. 

For now, I have taxes, insurance, utilities, & management for my expenses.  I understand climate controlled sites don't use the same amount of energy as MF sites do.  Are there expenses that I am missing here? I will have the site fully automated so I don't think I will have someone onsite but will have someone answering incoming calls.

I appreciate any feedback or support in advance.  

Regards,

Veeno Suchdeve

Hey guys, I'm looking to do my first larger rehab project.  Converting an existing building from 5 units to 26 units.  2 floors are just a shell and need to be rehabbed for either 1 or 2bed units.

I'm trying to get a feel for construction PSF in my situation before I start spending a lot of time on this asset.  What have you guys seen from bids?  

I've done smaller size buildings 3-5 units and on my last project I paid about $40 PSF.  This was a gut rehab for the kitchen and bath and touch up the rest of the home.  

Here I need to outfit plumbing, electric, framing, etc for about 6000 sq per floor.

Any advice or feedback is much appreciated.