All Forum Posts by: Dilip Jeyram

I'm trying to find a local commercial leasing agent for guidance on lease rates. In general, the area is seeing 7.5 to 8 cap rates on fully leased warehouse unit sales.

I don't have a site plan yet or any engineering company engaged but if the financials are promising, I plan to engage.

i'd need a construction loan - im planning for a bank. I factored in carrying costs in my underwriting. I estimated a 1.5M construction loan at 10% interest only per year. Construction completes in month 18, rent collection starting from month 20, stabilized by month 30, sale by month 40.

Am I missing anything else?

0 Votes

Richmond, Virginia

Quote from @Chase Hoover:

Planning to get into this type of development in the next few months. Looking for land at the moment. Let’s connect

@Chase Hoover did you get started? I'm in Richmond and trying to get started.

0 Votes

Nashville, Tennessee

Quote from @Tanner Nelson:

Hello, My business partner and I are breaking ground on our very first flex space project in Mustang, Oklahoma in the next 3-4 weeks. We will have a total of 20 1,000 sqf shop spaces each unit will have a 14' overhead door, heated/cooled bathroom + office space & designated parking.

The goal is to build, lease up, put under management then sell to an investor that would like to buy them all as a turn key investment. We have only done this with single family rentals up to this point so my question is how would I go about targeting investors that are interested in this class of real estate?

Thank you in advance for any info you can provide!

Hi Tanner, how is it going after 1 year?

1 Vote

Quote from @Henry Clark:

Google Jin Ahn in Houston. Tell her cousin Henry Clark said hello.

Hi Henry, any recommendations in the Central Virginia market? Richmond-fredericksburg.

0 Votes

Houston, Texas

Quote from @Brent Thomas:

Greetings y'all. I am starting my journey on industrial flex space. I am a commercial GC by trade (www.boxtconstruction.com) so I decided that I am ready to move to the development side. I am really just looking to connect with people for ideas and maybe some sort of coaching. I think my biggest struggle is finding the right dirt. There is plenty of it for sale around Houston's sub-markets, but I am overwhelmed with the search. Anyway, feel free to chime in on this topic.

Hi Brent, lets connect! Im getting started too. I just posted my proposed deal in the commercial forum. I have land under co tract and you are a GC.i sent you a direct message

1 Vote

Houston, Texas

Hi community, I've read a lot of posts by very experienced members and I'd appreciate your thoughts on my proposed project..

I'm considering a JV with a land owner who has about 4 acres in the Fredericksburg area. My plan is to build flex space warehouses. construction will occur in phases. Build on Aprox 1 acre land - one 15000 sqft metal building, 300ftx50ft deep, 24' height. each unit about 24-25' wide with one 12'x16' bay door + glass window+ 48" wide door. So 12 units, each 1250sqft that can be combined per tenant needs.

I'm estimating $125 psqft for buildout of 15k including the land cost. Total about 1.8M.

Lease out as smaller units 16-18 $ psqft.

thoughts about my financial planning ?

about that market supporting 16$psqft lease?

Is the Central Virginia market good for flex warehouses development? Richmond, Fredericksburg, Harrisonburg, Charlottesville

thanks!

1 Vote

Richmond, Virginia

Quote from @Brent Thomas:

Quote from @Sean York:

I'm in Houston so would like to start in my backyard but need to do market research to understand land prices, expected rents and market saturation. Any other Houston based small industrial developers that would like to connect?

I recently came across Hazma Invests who puts out courses and mentorships on flex space development and he's here in Houston (Southside). I know the development process and have good contacts on the civil engineering, site work and GC side. Anyone know what the course and/or mentorship costs? Wondering if its worth it, as I know the development process and have good civil, architect and GC contacts.

Sean, I too have come across Hamza. Have you gotten involved with his team yet? I was planning on having some discussions with them to see if it was worth the time and money. My biggest obstacle is finding the right land for the project and that is really the guidance I will be looking for. I think I have a pretty good idea, but just curious if there was some magic formula in finding the right dirt.

@Sean York @Brent Thomas I connected with a team member from Hamza invests. They gave me a walk through. Flex space untapped (fsu)course. Course fee quoted is $12k. In summary they state it is a full life cycle mentorship model - but not one on one. Always small group. Deal analysis- I was told I could submit a form and hamzas team would provide analysis. Im trying to find past clients to talk to. Happy to connect. My apologies if I'm hijacking this thread...

0 Votes

Houston, Texas

Hey @Loganbosiger read through @stephenglover's thread. Great post! Persistence with your current lender using data to support your argument. I suggest trying that first rather than spending your own money on a new appraisal, new banker etc that may not go your way.

1 Vote

All Forum Posts by: Dilip Jeyram

Dilip Jeyram has started 3 posts and replied 17 times.

Post: Industrial Flex Space

Post: Flex space warehouse development in central VA

Post: Flex space warehouse development in central VA

Post: Commercial / Industrial Flex Warehouse space

Post: Flex Space investing

Post: Industrial Flex Space

Post: Industrial Flex Space

Post: Flex space warehouse development in central VA

Post: Flex Space Development

Post: My BRRRR appraisal came in LOW. Now what?