RCRE - Unlocking the Value of Land with Adam Klenk and Austin Heithcock

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: [email protected]  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

Episode 80 of the Jake & Gino: Real Estate Investing & Multifamily podcast, hosted by Mike and Will, titled "RCRE - Unlocking the Value of Land with Adam Klenk and Austin Heithcock" was published on May 20, 2020 and runs 37 minutes.

May 20, 2020 ·37m · Jake & Gino: Real Estate Investing & Multifamily

Summary

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: [email protected]  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

Episode Description