John Zoulis
Multifamily Construction Cost feed back needed/ADVICE
25 September 2015 | 4 replies
I am looking at a project that is a historic building that sits in an Acre and is 8700sf . very walkable to lots of amenities,restaurants,grocery, schools, government offices e t c.in the past i have remodeled SFH ,renovated industrial builings to retail centers (sizes up to 15000sf)Project Scope: i am thinking retrofiting and add an addition and have aprox 32 units of apartments with elevator, and finishes stainles appliances,granite tops, study says that target tenants are milenials,retiress and due to proximity to government offices government employees.current rents go for 1bed 900-1000 and for 2 bd 1100-1200 . the sf need for 1 bed is 800sf ( should be able to rent according to the study for $1200)and for the 2 bed is 1200sf( should be able to rent according to the study for $1400)for this area.14 1 bed x $1000 =$14000 x12=$168,000. year18 2bed x $1200 =$21600x12=$259,000 yeartotal yeqarly income $427,000.00 -8%$34,160)vacancy (study says 3% for this area)=$392,840.00 yerly gross income.using current rents for fast stabilization as the goal is a non recource loan.i have couple questions that i would greately apreciate your input. 1)is it worth going after tax credits and how do i find more information?
John Zoulis
FINANCING FOR MULTIFAMILY NEW CONSTRUCTION
26 September 2015 | 1 reply
I am looking at a project that is a historic building that sits in an Acre and is 8700sf . very walkable to lots of amenities,restaurants,grocery, schools, government offices e t c.in the past i have remodeled SFH ,renovated industrial builings to retail centers (sizes up to 15000sf)Project Scope: i am thinking retrofiting and add an addition and have aprox 32 units of apartments with elevator, and finishes stainles appliances,granite tops, study says that target tenants are milenials,retiress and due to proximity to government offices government employees.current rents go for 1bed 900-1000 and for 2 bd 1100-1200 . the sf need for 1 bed is 800sf ( should be able to rent according to the study for $1200)and for the 2 bed is 1200sf( should be able to rent according to the study for $1400)for this area.14 1 bed x $1000 =$14000 x12=$168,000. year18 2bed x $1200 =$21600x12=$259,000 yeartotal yeqarly income $427,000.00 -8%$34,160)vacancy (study says 3% for this area)=$392,840.00 yerly gross income.using current rents for fast stabilization as the goal is a non recource loan.i have couple questions that i would greately apreciate your input. 1)is it worth going after tax credits and how do i find more information?
Munira Hassan
Minneapolis rail line. Could it change the real estate market
17 September 2015 | 4 replies
All rail service hubs on the downtown area, and suburb-to-suburb transit options are limited to those suburbs along the rails lines.Those properties near the stations have the best values.A key consideration, of course, is the location of centers of employment.
Leon G.
Considering Irrevocable trust or LLC
26 February 2021 | 6 replies
However, at this stage, I would likely just consider LLC's.
Rich Weese
Rehabbers and flippers--speak up
27 February 2010 | 34 replies
I price them aggresively and have the homes staged and professional photos taken so that my DOM are less than the competition.
Kyle King
Seller files BANKRUPTCY at 11th hour on apartment complex. How do I work with the Seller?
27 June 2010 | 19 replies
I hope this gets my contract offer to the right people and pushes the deal off high center.
Ted Akers
Dump the Big Banks?
2 February 2011 | 10 replies
I may have to host at a convention center for a "BP Nation Celebration".
Rich Schroeder
where's the oil?
23 March 2010 | 15 replies
The major financial centers (banks etc)3. health care system4.Majority of auto industry5. money and disbursal to whom they want( unions,etc) I guess this country is sorta controlled the same way.....Rich
Rich Weese
VERY long and a little scary....
4 June 2010 | 7 replies
Hitler Restructured the Family Through Daycare: When the mothers had to go out into the work force, the government immediately established child care centers.
Timothy W.
US Government seizure of privately owned internet sites
29 November 2010 | 21 replies
Tea Party Republicans are now at a stage of calling out and unseating RINOs and are bringing Libertarian ideology into the party.