All Forum Posts by: Kody Foster

@Engelo Rumora Engelo, our store on a super slow day is doing Candy/Snacks 2.92% Cigs 32.72% Fountain drink 6.12% Grocery sale 8.53% SODA sale(different drinks in different categories) 0.15% Sodas 20.31% SUBWAY restaurant 13.96% Taxable sales 4.34% Tobacco 10.96% It’s important C-stores have something to draw them into the store itself. Be it a restaurant, check cashing, game room, or so other type of income producing platform. Depending on others gas prices in town, it is good when we make .05¢ a gallon after credit card processing fees. Example: Gas cost $2.50 per gallon Credit card merchant services processing fees cost- roughly .03-05¢ So we charge $2.60 to make a nickel per gallon. We do our merchant services through our Gas Jobber.

@Brett Wagner Hey Brett, sound like you have a good intrested rate with the house. I’d just continue saving up and/or pay off your house quick and go from there. Are you planning on investing in Tyler? Longview? Henderson? Just curious.

@Jeff Efird Jr Jeffe, do you already own the land?

@Shannon Kiefhaber Shannon, I grew up building DG’s for our family real estate development company. Dollar Generals are a national tenant and have proved to be good investments for our family. With that being said you would need to do some good evaluation before making a decision to buy this deal. We did buy the land, and built to suit for DG( my dad started building in 97, and we built our last one in 2010) Depending on when different investors got in the game would help you evaluate the the lease terms. We have some leases with built in percentages of sales. We happen to get into the earlier “growth” phase of DG when they still only have a couple thousand stores. At that time DG was easier to work with( they are still easy to work with in aspects, but once a company gets big some things change and more and more stuff gets larger especially the cost to build to suit. One of our first builds cost 250k to build, one of our last builds was over the million dollar mark) DG’s do well in areas of lower income. Not all DG’s you see on the market are good buys. We have bought some DG’s and built many. For most investments such as these that are high in price, it seems smarter to do 1031 exchange or pay cash. Just buying a DG the way most people buy houses, or duplexes( typical 20% down payment and 20-30yr note)is not necessarily the best approach. My Dad is much more knowledgeable about these deals than I. If you have any questions I’ll try to help anyway I can.

Steve, I’ve been quoted $120,000, to build a duplex on my property in a small town in East Texas. With you being in the Metroplex I’m imagine cost to build could be cheaper with the amount of competition there. I have family that has built houses in Houston and A tiny town(population 2,500), and the small town house cost much more to build then the houses the same size in Houston. I’d be intrested in what cost to build in the metroplex would be myself.

“You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for that my dear friend is the beginning of the end of any nation. You cannot multiply wealth by dividing it.” -Adrian Rogers This is just the “beginning” of how many more to come will think. What you allow will continue, I’ll say that again, what you allow will continue. There’s no guarantee that this will help the homeless population, or even if the homeless will willingly accept this and try to make their situation better. This is wrong in every way possible. That being said, I do not see the to abandonment of helping homeless or less fortunate as the answer either. But, charging someone who is financially making a difference with their income(rental housing) to their community in the first place is totally wrong and people in Oakland should put their foot down now to stop this before it gets out of hand worse then now.

Eric, how has the mobile home park project going? I’ve been kicking around the idea myself.

Jacob, take a look at “Southwest property Tax consultant” in Granbury, they have helped us cut out property tax bill significantly on our commercial properties. They help get the tax bill lower than keep a percentage of how much they help you save. They are worth their weight in gold!

Yes, banks here aren’t wanting to go longer that 20, for the age. I agree a 30 fixed is better. I plan to refinance in couple years. 5.50% is high and I was very surprised at the quote with my credit being 800. I didn’t take the time to go to any mortgage companies after my wife was told in a real estate continued education class that the mortgage company didn’t do anything lower that $50,000.

Sellers accepted our offer of $28,000. Bank loan terms: 20 year Amortization Interest rate 5.50% fixed for 5 years then adjust to WSJ Prime plus 1% Waiting for results on inspection and survey supplied by seller.