37 min
RCRE - Unlocking the Value of Land with Adam Klenk and Austin Heithcock Jake and Gino Multifamily Investing Entrepreneurs
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- Investing
Mike Taravella and co-host Will Coleman interview Adam Klenk and Austin Heithcock of Capstone Apartment Partners Key Information: Access to jobs and walkability are very critical when evaluating land Newly developed builds in the surrounding market with rents per sq ft between $1.40-$1.50 and 200-300 units are ideally for new development To develop you need to understand city zoning and planning Entitlements: A specific plan or use a city has for a the land or building Nashville B-C Acquisitions = $70-$100k per Door Nashville New Build = $150k per Door Land prices increases due to compressing cap rates due to demand The less barriers with the land, the more costs saved to prepare it for sale Civil engineers help promote your plans to the city Land sales haven’t slowed down during the pandemic due to leasing is 36 months from now Small developers leverage local banks for financing Expert Pro Tip: Submit offers on deals and provide feedback to the brokers, especially if it is an off-market opportunity. Contact Information: https://capstoneapts.com/ Austin: h.austin@capstone-companies.com Adam Klenk: (615) 861-9906 To register to invest with us: https://invest.randpartnersllc.com/invexp/accounts/login/ Rand CRE's Facebook: https://www.facebook.com/randcre Rand CRE's Linkedin: https://www.linkedin.com/company/randcre Rand CRE's Instagram: https://www.instagram.com/randcre
Mike Taravella and co-host Will Coleman interview Adam Klenk and Austin Heithcock of Capstone Apartment Partners Key Information: Access to jobs and walkability are very critical when evaluating land Newly developed builds in the surrounding market with rents per sq ft between $1.40-$1.50 and 200-300 units are ideally for new development To develop you need to understand city zoning and planning Entitlements: A specific plan or use a city has for a the land or building Nashville B-C Acquisitions = $70-$100k per Door Nashville New Build = $150k per Door Land prices increases due to compressing cap rates due to demand The less barriers with the land, the more costs saved to prepare it for sale Civil engineers help promote your plans to the city Land sales haven’t slowed down during the pandemic due to leasing is 36 months from now Small developers leverage local banks for financing Expert Pro Tip: Submit offers on deals and provide feedback to the brokers, especially if it is an off-market opportunity. Contact Information: https://capstoneapts.com/ Austin: h.austin@capstone-companies.com Adam Klenk: (615) 861-9906 To register to invest with us: https://invest.randpartnersllc.com/invexp/accounts/login/ Rand CRE's Facebook: https://www.facebook.com/randcre Rand CRE's Linkedin: https://www.linkedin.com/company/randcre Rand CRE's Instagram: https://www.instagram.com/randcre
37 min