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
Jake & Gino: Real Estate Investing & Multifamily · Mike and Will
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Show Notes
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:
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
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About Jake & Gino: Jake & Gino are multifamily investors, operators, and owners who have created a vertically integrated real estate company. They control over $350M in assets under management. Connect with Jake & Gino here --> https://jakeandgino.com.
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