Bank Finance Truck Parking?
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- เผยแพร่เมื่อ 18 ต.ค. 2024
- In this video, we break down practical strategies for securing funds in industrial real estate. From construction loans to stabilized financing, we share insights that can turn your truck parking plans into a profitable reality.
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I love the small BMW pylon that makes it look like you're wearing a tiny hat 🎩
I'm keeping it there
Also didn't have a wardrobe change mid-video on my bingo card! Like button hulk smashed!
Micron is building a large new plant in rural upstate New York. Would this, or other similar developments, be good candidates for scouting land for truck parking? Or would it be better to look to areas adjacent to major cities with interstate access?
Love your videos! I am breaking into starting a Trucking, RV, Boat, Etc. Storage business but instead of buying the land, I am thinking about leasing industrial land that has all the bells and whistles (Paved, Fence, Automatic Gate, and Security). Do you think leasing land is a wise approach? I can definitely see the cons to this but I would love to hear your thoughts!
Leasing as a landlord? Yes it’s more of a business with marketing and employees with some on site work. But that’s a great product to explore
@@RonaldRohdeLaw I like that idea too but what if you're just starting a Trucking, RV, Boat, Etc. storage business for the first time but you want to lease a piece of land (Paved, Fence, Automatic Gate, and Security) instead of buying and prepping the land for the business concept. Thoughts? I am in the Pinellas County, FL Area and buying industrial land or buying an existing Trucking, RV, Boat business is way too pricey and the financials aren't matching the pricepoint whatsoever.
Do you have to have business credit to recieve this type of loan ? If not what would be the requirements to recieve these types of loans ?
No business credit needed. Income of the property
With a construction loan, would they cover the purchase of land and construction, or just the construction. Also is it about 20- 25% down of the total cost if it is my very first investment property?
Yes you can close the loan at land closing. I do not think you’ll be at 80% LTC though.
@@RonaldRohdeLaw thank you for the Reply, do you recommend to get a loan for land and construction separately?
@@garcia3424 no, at this point you'd put the land as collateral for the construction loan
@@RonaldRohdeLaw thank you, what loan would you suggest then for someone who just wants to buy vacant land and then turn it into truck parking.
@@garcia3424 Construction loan and acquisition loan, they can be combined, you'll get 6-12 months of interest only
Is it possible to acquire land on seller finance and then use that land as collateral for a construction loan?
Probably not. If the seller has a first lien, it won’t count as equity for a loan unless you throw in cash on top
If seller agrees to subordinate their note, is this something the banks will then be ok to use that as equity?
Also, can investors contribute with the equity position required for financing?
@@ivanjmartinezt sometimes yes, you still want some equity cushion, but it depends on the global LTV and each lender.
Could you share some lender info?
@@ivanjmartinezt really depends on market, are you in Texas?
What sort of entity do you suggest setting up when two people get together to start a truck parking lot business? 50/50 partners
Without knowing more, LLC. Cost effective, flexible and efficient