All Forum Posts by: Dustin Young

@Matthew Carlson Amy interest in branching out to the Midwest?

I thought it would depend on bank appetite but I've heard back that vacancy isn't an issue so long as the property is self sustaining as is.

I think there's a fine line between filling an open spot and resurrecting a dying center though. Somewhere around 70% occupancy is the number in my head. I have no data to support that officially. 

It would probably pencil best in high density markets with high rents. My vision is that of a separate structure just built over the existing center. Allows for keeping rooftop mechanicals. Would then add covered sidewalk frontage and a new facade or signage. 

Not sure you'd have to shut things down entirely. Maybe a day or a week for the initial beam placement.

From what I hear this is true. Talked with a guy recently who said they get 10% buying debt with no risk. REI does offer depreciation in the right scenarios but not everyone cares about that.

One my thoughts for value add (in a blank check kind of way) would be to add second story residential or perhaps if the lot is big enough to outparcel develop. 

I imagine if you found a completely vacant one it would be easier to get the city on board for conversion. 

for my syndications we are targeting an 8% preferred returned and a 1.7x equity multiple on a 3-5 year hold. We do try to write conservatively which makes deal hard to find. 

I am a retail guy. Located in Wisconsin so midwest markets preferred.

Syndication, Value add, sub $10M. 

Currently have 4 properties in deep underwriting with a couple LOI's out.

Looking for capital partners!

My strategy may not work for you but I have plans to build one. My local municipality only allows single family zoning but...I can add an in-law suite. My plans also call for a second floor game room/office space plus a 3000sf+ shop. Effectively making it a 4 unit. 

I also would like to find these people! I focus on value add retail strip malls.

This is something I've started recently. A whole lot more info than I care to type out here. Feel free to book a call if you'd like: https://gdlcapital.zohobookings.com/#/customer/dustin