All Forum Posts by: Henry Clark

@Cole Bigbee

What type of electric service or alternatives do you see for the 2,000 soft spots?   100amp

Also what do you see for floor drains in the service area?  None, middle or at the doorway and squeegee?  

I’ve seen 14x14 doors mainly.  Versus the 12x14 you mention.  Obviously bigger is better.  But in this instance the operator becomes $3,500.  Versus just a chain operator. Or do you always go with a remote control door?

Thanks. 

@Ronald Cahill it’s fun selling 2 acres for $100,000 that you bought for $580 per acre.  Just doesn’t happen every day as @Joe Schmitt can attest.  Let me know if you need any further input on your objective. 

Few other Odd bits of info:

Another note, this is both a surge protector and a battery backup for the camera system.

Below is the latest camera we added for one of our unattended locations. This is at the entry way. This camera will be used for many functions:

1. Motion Sensor. It will send me a message if someone is at the gate. This one is turned towards the entrance at the moment. We will set to send me a signal on my phone from 11 to 7 in the morning.

2. It has a verifocal lense. We can zoom the picture in/out and side to side on the NVR recording. This is different than just enlarging.

3. Picture or camera definition is measured in Pixels. The more pixels the higher definition of picture and the more you can enlarge it to get license plates, tattoos, and facial images. All of our cameras are now 4 meg and cheaper than when we started with 1 meg. This camera however is a 4 "K" versus 4 meg. At first you would think a 4K is lower than a 4 Meg; however a 4K is actually 8 megapixels. This is not a License plate camera, but it achieve most of the features that a license plate camera, but allowing for a wider angle shot than a License plate camera which only covers an area half the size of your front grill on your vehicle. It has higher definition. Also it can be zoomed in further.

@Paul Leavitt

All local zoning questions.  Leg work time. Do a market survey first.  Products and pricing

Tent sites

Camper sites

Camper rentals

Motels

Hotels

Check availability and how they contract.  You want to be below Camper rentals and motels.  Above tent and camper site pricing  

@Ronald Rohde

What are your suggestions?

@Keith Olson

Couple of avenues along the same lines as above:

1.  The Martial Arts studio my son went to, had to move three times in the last 10 years due to unusual things.  I noted the Tropical Fish store followed him twice.  What I mean by this is you have other businesses who have customer basis or areas of town similar to yours.  As stated above build out as much as possible.

2.  If you construct from scratch talk with your CPA first. Ask him how he wants the expenditures to be segregated on the contractor billings.  Example:  Electrical, HVAC, Security system, Roads/Parking, etc.  He can write off some of these in year 1, giving you a tax/cash advantage.

3.  Also have him look at who should own it and how it should be owned.  He might recommend a Sale/leaseback or renting from a family member.  Trying for a tax advantage.

4.  Build for the future.  Watch out how you position the building on the property relative to street access and view.  Look at how your parking is done.  You might never want a drive through window, but a future owner might.  Etc.

5.  When it comes to the footprint, check with zoning on Setbacks, required landscaping and parking, need for Storm retention ponds, fire hydrants, sidewalks, water/sewer/gas easements,  etc.

You might have done this already.

1.  First step is to look at zoning and see if either resort or food court are allowed.

2.  Determine how much of either can be put on the property per zoning rules:

     a.  How much parking and handicap parking is required.

     b.  What are set backs for these operations.

     c.  What Sewer/water/drainage/Storm retention ponds, etc are required.

     d.  Resort town.  Is there a building theme required?

     e.  etc.

3.  Once all of the above are done, due a profit/cost model.  Unless you are doing this for fun, then don't worry.

4.  Subject to zoning, then go through the permit process.  If zoning doesn't fit, then see if you have to go for a conditional or special use permit.  This could take several months.

Going off your title "Surveyor needed".  First try to do yourself.  See if you have a GIS map for your county or city.  This will show your property lines.  Note, not all GIS measurements are accurate.  If your in an old establish neighborhood your lot lines should be self evident or talk with a neighbor.  Did you have your property surveyed when you bought it?  Get the survey out.

Steps using GIS:

1.  Pull up a GIS map for your legal city or county.

2.  Determine the footprint dimensions of your buildings.

3.  Get Setback rules from your Zoning tables.

4.  Use the drawing and measuring tool on the GIS map.  Put your two footprints in the drawing and see if it works.

I will answer the question with two approaches:

A.  Why not refinance at 20 years, since your only two years into it.  This will give you better cash flow, especially with the new rate.  So what would be the difference in monthly payments, would be the answer.  This is if your objective is cash flow.

B.  The next approach is to calculate the interest and NPV of the interest.  1.  Amortize the existing loan and get the NPV of the interest payments.; 2.  Amortize the new loan and get the NPV of the interest payments.  What is the difference.  This disregards the benefit or non-benefit of paying off in 15 years.  This depends on your objective, of either greater current cash flow or doing fewer investments and getting them paid off earlier.  Really what is your investment objective.

@Owen Schwaegerle

Good luck.  Send me a picture to remind of a California trip.  Have a meal of Abalone with a glass of Chianti, with some Bruschetta for me, looking out over the ocean.  Look forward to it.

If you see another town or asset your interested, do the above analysis, then have me look at it.  Lets compare notes.

Key take away from my notes above and your approach.  Do your approach, cold calling, but lets pick the best towns/cities to do it in.  Would you rather look at a town that needs 500 units, or one that has 500 to many?  Same amount of effort, but better investment.