All Forum Posts by: Senate Eskridge

I think the question is are you ready for the next step and how quickly do you want to go?  

I invest in coaches and mentors all the time in my W2 job so why not do the same for my real estate.  

I am planning to invest in the mentoring program by Jake and Gino it is similar investment and I am convinced it is worth every penny.  

I am curious how you landed on Michael Blank's vs all the other options?

Here are a few more Multifamily education platforms

Jake and Gino
https://jakeandgino.com/educat...

Micheal Blank
https://themichaelblank.com/

Multifamily University
https://multifamilyu.com/resou...

I think it is important to clarify do you mean small Multi Family, i.e. duplex - 4plex or are you looking at something bigger?

Sorry @Kesha Hamilton I stopped at the zoning.  I just asked around and apparently, there have been some changes in my area so I may look into it again in the future.  I would be interested in following your journey and share additional ideas maybe we can help each other.  

On thought is to reach out to others who have started a park in another part of the country and ask for guidance.  I found this list during my research.  

https://panethos.wordpress.com...

@Kesha Hamilton  when I explored this I found that my city had very strict rules regarding where food trucks could park.  The first thing I would do is check with your local zoning department to ensure that you wouldn't need to have the area rezoned.  

Next, I would check with the local heal district to ensure the liability for food safety is on the vendors and not on you.  I believe you may find that you can not provide things like tables, etc.  

I am sure you thought about this already but the infrastructure for a park-like this isn't cheap.  Although not completely necessary my vision included, power, water, maybe light sewer, landscaping, picnic tables, etc.. 

I have not abandoned the idea but put it on the back burner as I believe I have more lucrative areas I can invest right now.  

Where are you in your process?  

Have you worked up a financial model?

This appears to be a decent investment and well worth digging into further, here are a few questions I would ask.

Just to clarify it appears your utilities are all zero, do they all really pay for their own water and everything?

Price per unit $40,625, how does this compare to other properties in the area?

This projects an 8.7 cap rate, how does this compare to your area?

Do you have an exit strategy, i.e. refinance after increasing the NOI, Sell after caprate compression etc..

Do you have any initial capital expenditures, repair costs, etc...?

Have you already secured the financing?

Do you have any resources you would be willing to share to locate some of this information?

@LeAnn Riley I would like to attend your REI Club live stream would you share the information with me?

What is the best way to find other cap rates in an area?

@Michael Orlando. Do you have any experience with mentorship programs? I know there are several but I have not pulled the trigger on by yet.