All Forum Posts by: Vic Reddy

@Jane S. - my rule - never get inspection report from Buyer. For my listing I clearly instruct buyers/agents to never send me inspection report, only an email with a list of requested repairs. If we agree on the repairs, I will ask specific pages from inspection report for the repairs we agreed

@Ronald Rohde - Two building on the property with total sq footage of $15.5k sqft. 2-year old construction

4-tenants and 2 are corporate leases.

@Joel Owens - Thank you for the pointers

Hi

Can anyone refer a property management company for a Retail/Medical buildings with NNN leases in Houston? Any info on how much they charge?

@Venu Vedre - Nope. The way I understand u don't own real estate, only member in LLC. The LLC can do 1031 but not individual members

@Prabhakaran Subramanian - does your contract include square footage? In Texas contracts there is no square footage included in the contract and you cannot back out of the contract and I don’t see attorney can help you here.

MLS listings always have a disclosure for buyers to verify sqft, schools and all MLS info. You can hire professional to measure the sqft. Also the PSF is somewhat irrelevant as this doesn't account for lot size, home upgrades, etc.

@Bharath Siddarth

Why is this 2006 built building still in shell space? Connect with me and I can share some ideas as we developed a new construction Medical/Office building in Dallas area

Physicians get excellent loan terms especially if you are going to occupy > 50% space. You can buy with almost no down payment and great interest rates.

You can rent out the remaining space to a medical practice that compliments your practice. I leased medical condos to Family practice, Dentist, Pediatrics and OB/Gyn in the same building. Some Physicians practice need foot traffic and prefer to be independent rather than associate with a hospital

If there are no restrictions on usage, the remaining space can also be leased as general office to small business like Insurance, Title, Realtors, Salon suites. There are several opportunities

For interior finish-out, budget $70psf to $120psf and depends on the usage and state of the shell space (warm vs cold)

Good luck !!!

Talk to local Commercial agents and some of them specialize in Medical leases who can provide data on demographics, vacancy in the local market, growth, etc to help make a decision

@Henry Clark

Where is this land lot in Texas? I am a licensed RE agent in Texas and specialize in land lots in Dallas-FortWorth metroplex and in & around Austin. I closed several transactions and also have land listings

You should talk to City or County to see what would be allowed, usage restrictions, utilities etc. Also carefully review deed restrictions, easements etc

@Bruce Lynn - thank you !!!

@Eric Pearson - send u a private message

I will keep everyone posted on what I find out

Hi

What are expected development costs per RV spot without land and soft costs? I saw $10k/spot on earlier discussions

We are exploring a business proposal for new development RV Park in South Austin/San Antonio, TX area. This will have ~100 spots with amenities like basketball, Volleyball, office, gym, dog park etc

This lot has water and electricity but needs septic.

Anyone on BiggerPockets who developed RV parks in Texas that I can connect to get some advice?

Hello BP

Did anyone buy land with Ecolab credits? We are considering buying land which has Ecolab credits. It seems to be a common practice to apply for Ecolab credits to reduce Property tax. How easy is it to remove these Ecolab credits and are there any implications on future land use.

Any insight would be helpful