All Forum Posts by: Account Closed

Little Rock is similar to other 2nd and 3rd tier cities in the South and Southeast— larger metropolitan for region, stable economy with some growth, convention space, regional airport / air hub. Reminds me of Lexington or Louisville KY. 

It’s not a Nashville or Austin but I’d consider it for multifamily acquisitions. 

This is an old thread, I’m aware. It’s an interesting topic with conflicting data

Some cities have experienced an upswing in parking needs downtown. This is due to   recent trends in urban renewal, popularity of downtown living and a general resurgence of city life. 

Louisville Kentucky has more parking options now than ten years ago. 

Find and verify the numbers. What’s cost per sf to build mf? How many sf per unit? What does it lease per sf, per unit, per bedroom? What’s your build timeline? 

Go look and see product under construction and finished product around you. 

All agreed and I'd like to emphasize his section, don't skim over this. I've seen a number of LLC entities setup with sloppy records.

Sloppy records threaten the legimacy and consequently the protective benefits of the LLC.

Keep the books right or you could lose protection. 

*No legal advice 

Lousiville, Kentucky has experienced a number of warehouse and fulfillment developments thanks to UPS. 

Many of these are 150,000+ sf tilt up construction with docks, sprinklers and 28’+ Ceilings and clear span, all depending on the user. What is needed in your area—that’s the question. I haven’t seen many under 50,000sf recently around me.  

Consider procuring a tenant first then build to suit. How do you plan to finance? 

No agency / no legal advice 

I am a commercial agent with experience in representing clients for leasing industrial warehouse space.  

Obviously you could use the services of a local broker, look for similar properties listed with brokers and call them. A good agent will have an enstablished client base of owners and users to call upon and an active network.  

If you are just determined on leasing the space yourself, it can certainly be done.  Sure you can post ads online and make signs but it’s active calling that’s most effective.

I’d make a marketing piece about your space then start calling. Call local businesses that have like-kind space that may be interested in expanding, downsizing, moving etc. Ask to talk to the owner, talk to the local chamber of commerce, hit the phones spend a couple hours a dialing. Schedule tours and ask them to make offers.

The same approach applies to my 350,000sf warehouse project or the 1,000sf small user space.

If you have the time and energy and willing to make the effort, you can do it. 

Vacant properties attract squatters, encourage theft and vandalism and other nefarious activities.

Some insurance companies won’t underwrite insurance for those reasons or require substantially higher premiums due to increased risk.  

It’s a matter of finding opportunity not waiting to time the market. For the most part you should think micro not macro. 

Yes, caps are compressed so if you're buying a 100 unit multi fam in Austin TX or some big box NNN with a 2 year remaining lease term, maybe not the time.

But finding a sfr or a small multi., those opportunities will emerge regardless of market conditions. 

I only read the first few sentences of your post...

I’d begin interviewing property managers immediately. Seek only a reputable and experienced manager with the ability to manage renovations. Review the management agreement carefully and enforce it.

Too much drama here. 

It’s an opinion not a suggestion. Whatever course of action you’re comfortable pursuing. I don’t know your experience level but starting with a talk might be the best method. 

No agency / no legal advice