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

Jake and Gino Multifamily Investing Entrepreneurs

Jake & Gino

Buyingapartmentbuildings, Investingsmart, Multifamilyrealestateinvesting, Business, Smartinvesting, Jakeandgino, Apartmentinvesting, Investing, Commercialrealestateinvesting, Makingmoney, Buyingrealestate, Realestateinvestment, Wheelbarrowprofits, Realestateinvesting, Cashflow

5 • 831 Ratings

🗓️ 20 May 2020

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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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

Transcript

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0:00.0	Welcome to the RANCRE show, commercial real estate with no stone left unturned.
0:10.0	Hi everyone, welcome to the RANCRE show. I'm your host Mike Tarvella and I'm here with my co-host, Will Coleman. Will, how's it going?
0:18.5	Howdy, Mike? Just running the marathon one step at a time and looking forward to learning from our guests today.
0:23.6	Yeah, I'm super excited to have our guests all the way in Nashville, Tennessee.
0:28.0	Will, how about you doing intro?
0:30.0	Sure.
0:30.6	So our guests today are Adam Klank and Austin Hethcock from Capstone.
0:35.4	Adam began his career in real estate as a principal investor in various investment
0:39.6	properties throughout the United States while climbing the ranks of Bechtel Group. Am I saying that
0:44.7	right, Adam? Yeah, that's correct. Okay, I just wanted to make sure where he focused on project and
0:49.3	project and materials management as well as contracts and sectors including commercial government nuclear
0:55.6	nuclear oil and gas communications renewables and real estate development as a property broker
1:02.3	adam has transacted over 500 million in multifamily real estate alone totaling a unit count of 10,000
1:09.1	units other guest is austinethcock, as I mentioned.
1:13.6	Austin started his career at Bellhops as the sixth employee and director of operations.
1:19.2	Within a year, he managed the growth of the company from 50 to 100 cities and from 1,000 to 10,000
1:25.4	Bellhops.
1:26.6	Austin started his career in real estate selling residential property in 2015,
1:30.8	having sold over 15 million and transitioned into the commercial sector shortly thereafter.
1:36.5	Since the transition, Austin has sold more than 100 million in multifamily housing,
1:41.2	apartment assets, and development sites across Tennessee and Kentucky.
1:45.0	How's it going, guys?
	...

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