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20 August 2024 | 5 replies
Perhaps all I need is a pre done template for Hubspot/Odoo/etc.
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20 August 2024 | 0 replies
Next time on a MAJOR renovation project, I'd have the City of Johnson City Building Inspector join me for a pre-purchase tour to tell me what permits and what jobs they'll require of me.
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20 August 2024 | 28 replies
I’m sure I’ll incorporate one at some point- there is a lack of expertise right now so people tend to think it’s crazy, as the above thread shows.
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21 August 2024 | 9 replies
But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).
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19 August 2024 | 10 replies
What we do at the bank and with most banks is either get your builder approved or we can provide you a list of the already approved builders that have built successfully under the program.If you trying to get started the first thing is get your Pre-approval set up and start the processing.
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19 August 2024 | 9 replies
At this time, we do not allow builders to market any more ground up construction projects (pre-construction) as we have been made aware that there are significant delays in the construction industry.
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20 August 2024 | 11 replies
Getting pre-approved for a mortgage will give you a clear budget and make you more appealing to sellers.
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17 August 2024 | 30 replies
These were all sourced pre-CV19, so eat the fish and spit out the bones.
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20 August 2024 | 11 replies
It's normalized to pre-pandemic levels.That being said, there are so many other MTR tenant types so don't limit yourself in your marketing.
19 August 2024 | 6 replies
Hopefully you did not pay too much for the dirt. 1 acre is optimal these days because of desired double to triple drive thru for QSR.It can become a problem because if they make the building smaller you get less rent but they do more sales.Example a QSR used to be 3,000 to 4,000 sq ft but now instead wants double drive thru's as not many go inside for fast food like pre-covid.If you get 1,000 a foot less at 30 a foot you just lost 30k NOI and now at 5 cap example paying all cash NNN once developed you have lost 600k value.It can fine as long as you do not overpay for the land.