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Thank you so much for sharing! This was very helpful and the way you broke down the details made it easier to understand. It would bar even more nice if you could talk about a real life past project, with the location and the specific rules applicable to that municipality, and how you went through the process from beginning to end making things work for a specific site. And is it easy to purchase a piece of land that has been zoned to be able to develop into a commercial parking lot? And how important is location choosing or would close to any major highway work?
Glad you found it helpful. I can do another video on location and zoning rules. Easy is all relative, nothing highly profitable is easy, but this is easier than other CRE projects! Location is critical. Not just proximity to a highway, but *_access_* . easy on and easy off.
Great breakdown. Much appreciated! I know parking rates vary depending on the market. What do you typically charge per truck daily/ weekly/monthly? Thanks!
In DFW, call it $30 a day, $100 week, $300/month. I don’t see daily rates much below that, monthly can range from $100/dirt/unimproved to $500 for Class A
Great information. With your IOS properties, do you have a full-time employee managing the location? Is there a way to make these properties fully automated? If so, can you recommend a software system that can help manage.
I rely on my employees, but they are not dedicated to PM. At the end of the day, its physical real estate. There is no way to make these fully automated and less so for managed truck parking (vs. single tenant NNN). We use Rig Hut for inventory management, Truck Bays is great for access control, ESS is also another player. It does not replace boots on the ground.
greetings, i really love your videos and i want to ask for you opinion on this. Will a 2 arc of land work as a truck parking? thank you so much for your informative and educational videos. Wish you the best
Great content! I am in the process of finding land in NC for secure overnight truck parking. You hit on the major points, but one thing I am still unsure about is bathroom cleaning and trash removal. I plan to buy "rural" industrial land near a major highway, but I would need to have a rental bathroom/ shower trailer for truckers to use. I keep thinking about how to best hire someone to come clean the facilities once a day. Have you encountered this before? I'm wondering if a cleaning company would be better than hiring an individual person. Any tips would be appreciated!
Thank you. You'll need operations, boots on the ground for that. Trash removal can be a dumpster, your bathroom can be a mobile trailer setup. Personally, I'd like a person who can walk the perimeter, check the fence, pick up trash, and clean the property. a cleaning company typically won't do those things.
That’s helpful. What methods do you find effective in finding someone for that role? The locations I have in mind aren’t near my hometown. I appreciate your help!
@@johnmisenheimer7443 thats tough, Id say general handyman, talk to site supervisors from jobs youve bid out. Just start talking to and hiring guys with similar skillsets and ask who wants a side job
I want to do this but can only afford 1/2 acres of land can it be beneficial? Also could you email me a breakdown like you did on this video but for 1/2 acres
@@shellshell270 1 is likely too small to be worth the fixed costs of development and operations unless you're in a VHCOL location. 2 acres is maybe, but you have to be able to charge infill city rates (large city, but need not be Orange County, CA)
I see there is a gravel expense and concrete expense. Is the concrete laid over the base layer gravel? And does that concrete expense include labor, rebar, etc?
I’ve been looking at this around Houston. I was exploring several options for the surface, gravel to concrete, but quotes I’m getting for an acre of concrete is $120k. Where do you get $50k? Is this a 6” slab? End goal is develop a class a property I can sell to hedge fund.
so the concrete really depends on whether site work is included vs just concrete material itself and its priced per yard, so sq ft can be a difficult approximation. yes fully paved yard would be best suited for an institutional exit!
Do you have a video going over demand and/or daily/monthly rent analysis? I have an acre of vacant land in a pretty rural area right at the intersection of two interstates. Not sure if that's big enough to justify development
Thank you for posting, very helpful to me, as I am new to this. I have a piece of land near Sherman Tx and would like to open a Truck parking /IOS but am not sure where to start and what to do next. This video helped me a lot, but I still need more help. It's about 4 acr land.
@@RonaldRohdeLaw Thank you for the prompt respond!!!! I am sorry I don't know much about land, but this land is flat with grass and some trees in the back. it has access to major highway like 82.
Question: Once you have a IOS rented up and stabilized for 1 year, What are bank's appetites for cash out refinacing, as far as % of market value. With multifamily, its 70%, but I imagine its more like 50% here? Or maybe you haven't done that yet. I also have the same question in regards to just the initial purchase of vacant IOS (say $2.5M purchase 5 acres), what is a bank's appetite to lend on something with no cashflow thats just vacant? 50% of market value? My interest would really be limited by these things. If I can't get my initial investment out and buy more after its rented, its an issue. Really great vids, I'v watched a lot.
Have you ever seen landfill land used for truck parking? I have some land my grandfather had dug out and filled back in years ago and have been thinking of doing this in the future
Yes it can be done but depends on your definition of landfill. And what exactly was there. Is the trash removed now? Where was the fill dirt from? Clean fill?
@@RonaldRohdeLaw It was all clean fill that was put back in the hole, I’m off I-35 just outside of San Antonio on the Northeast side and everything around is being developed so I’m looking into what would be good to do with the land besides having cattle on it as of right now
Im in the DFW area and it seems most cities are requiring all concrete paving. Its never working for my numbers to get a realistic parking rent for a 5 acre lot of concrete poured. Any numbers on this would help.
It definitely depends on the City, gravel is going to be your best bet. Pure concrete yard only may not pencil, but what about with a small building? You'll get much broader uses with a building as well.
We’ve considered it but leasing becomes purely a cash flow business that needs scale to exit vs covered real estate investment I wouldn’t spend more than 1/3 of gross rents on total rent revenue
Looking to start investing in truck parking, check out my truck parking course with never before seen videos, workbooks, and all you need to get started! iitp.circle.so/join?invitation_token=6e04caa380254b8433007fbdaf66411dd8b991c6-39e082df-4ddf-42d2-8821-3fbc936fe774
Your awesome, can't thank you enough for this invaluable info
Thank you so much for sharing! This was very helpful and the way you broke down the details made it easier to understand. It would bar even more nice if you could talk about a real life past project, with the location and the specific rules applicable to that municipality, and how you went through the process from beginning to end making things work for a specific site. And is it easy to purchase a piece of land that has been zoned to be able to develop into a commercial parking lot? And how important is location choosing or would close to any major highway work?
Glad you found it helpful. I can do another video on location and zoning rules. Easy is all relative, nothing highly profitable is easy, but this is easier than other CRE projects! Location is critical. Not just proximity to a highway, but *_access_* . easy on and easy off.
Thx, make some podcast about building warehouse for rent
Good video & info. Keep it up!
Thank you sir! Good to see you back on social media 🥹
tremendous value. thank you!
You're welcome, truck lot financing and truck space pricing incoming! Subscribe and get notified!!!
Great breakdown. Much appreciated! I know parking rates vary depending on the market. What do you typically charge per truck daily/ weekly/monthly? Thanks!
In DFW, call it $30 a day, $100 week, $300/month. I don’t see daily rates much below that, monthly can range from $100/dirt/unimproved to $500 for Class A
@@RonaldRohdeLaw thanks so much for the feedback. Much appreciated!
brilliant! I love this
Hope it helps you
Great information. With your IOS properties, do you have a full-time employee managing the location? Is there a way to make these properties fully automated? If so, can you recommend a software system that can help manage.
I rely on my employees, but they are not dedicated to PM. At the end of the day, its physical real estate. There is no way to make these fully automated and less so for managed truck parking (vs. single tenant NNN). We use Rig Hut for inventory management, Truck Bays is great for access control, ESS is also another player.
It does not replace boots on the ground.
greetings,
i really love your videos and i want to ask for you opinion on this. Will a 2 arc of land work as a truck parking?
thank you so much for your informative and educational videos. Wish you the best
Yes, thats about my minimum size for 75' spaces, but definitely enough room if its a good shape with a wide entrance!
Great content! I am in the process of finding land in NC for secure overnight truck parking. You hit on the major points, but one thing I am still unsure about is bathroom cleaning and trash removal. I plan to buy "rural" industrial land near a major highway, but I would need to have a rental bathroom/ shower trailer for truckers to use. I keep thinking about how to best hire someone to come clean the facilities once a day. Have you encountered this before? I'm wondering if a cleaning company would be better than hiring an individual person. Any tips would be appreciated!
Thank you. You'll need operations, boots on the ground for that. Trash removal can be a dumpster, your bathroom can be a mobile trailer setup. Personally, I'd like a person who can walk the perimeter, check the fence, pick up trash, and clean the property. a cleaning company typically won't do those things.
That’s helpful. What methods do you find effective in finding someone for that role? The locations I have in mind aren’t near my hometown. I appreciate your help!
@@johnmisenheimer7443 thats tough, Id say general handyman, talk to site supervisors from jobs youve bid out. Just start talking to and hiring guys with similar skillsets and ask who wants a side job
How many trucks per acre. What is a minimum size. What is an average size.
What I’m sayin
20 per acre but it increases as yard increases and travel lanes decrease
Average truck size ,,W -13.5 , length- 80-100' feet(truck +trailer) for bobtails W 13.5 - L 30-45'
GOD Bless Him & Thank uuuuu sooo much for creating this video; I have been looking for this type of information; a actual break down
Thank you! Check out my other videos for more information on managing truck parking, financing, vendors, pricing, etc.
I want to do this but can only afford 1/2 acres of land can it be beneficial? Also could you email me a breakdown like you did on this video but for 1/2 acres
1 or 2 acres of land lol not 1/2 of a acre sorry
@@shellshell270 1 is likely too small to be worth the fixed costs of development and operations unless you're in a VHCOL location. 2 acres is maybe, but you have to be able to charge infill city rates (large city, but need not be Orange County, CA)
@@RonaldRohdeLaw what does VHCOL mean ?
How do you have your land asset and rental business structured? S-corp (land) with a separate holding company for the business? Thx
I would not do an s corp with real estate. We don't have separate, LL direct to tenants
I see there is a gravel expense and concrete expense. Is the concrete laid over the base layer gravel? And does that concrete expense include labor, rebar, etc?
You don’t need concrete
I’ve been looking at this around Houston. I was exploring several options for the surface, gravel to concrete, but quotes I’m getting for an acre of concrete is $120k. Where do you get $50k? Is this a 6” slab? End goal is develop a class a property I can sell to hedge fund.
so the concrete really depends on whether site work is included vs just concrete material itself and its priced per yard, so sq ft can be a difficult approximation. yes fully paved yard would be best suited for an institutional exit!
HJC! This is good!
Thank you! I hope it’s useful
Do you have a video going over demand and/or daily/monthly rent analysis? I have an acre of vacant land in a pretty rural area right at the intersection of two interstates. Not sure if that's big enough to justify development
I'm posting a truck parking financing video but I can do that next!
@@RonaldRohdeLawwhen will it be up?
@@raekwonwilliams6500 Thursday!
Thank you for posting, very helpful to me, as I am new to this. I have a piece of land near Sherman Tx and would like to open a Truck parking /IOS but am not sure where to start and what to do next. This video helped me a lot, but I still need more help. It's about 4 acr land.
is it raw land? ETJ? is there demand for outside storage?
@@RonaldRohdeLaw Thank you for the prompt respond!!!! I am sorry I don't know much about land, but this land is flat with grass and some trees in the back. it has access to major highway like 82.
@@786Marwa send us an email, ill take a look
@@RonaldRohdeLaw I don't have your email, which email should I send it to?
@@786Marwa info@ronaldrohdelaw.com
Question: Once you have a IOS rented up and stabilized for 1 year, What are bank's appetites for cash out refinacing, as far as % of market value. With multifamily, its 70%, but I imagine its more like 50% here? Or maybe you haven't done that yet. I also have the same question in regards to just the initial purchase of vacant IOS (say $2.5M purchase 5 acres), what is a bank's appetite to lend on something with no cashflow thats just vacant? 50% of market value? My interest would really be limited by these things. If I can't get my initial investment out and buy more after its rented, its an issue. Really great vids, I'v watched a lot.
If you have a building you can get 70-75%
Pure yard is harder without a NNN lease
My next video talks all about financing!
@@RonaldRohdeLaw would a fabricated steel metal building qualify?
Have you ever seen landfill land used for truck parking? I have some land my grandfather had dug out and filled back in years ago and have been thinking of doing this in the future
Yes it can be done but depends on your definition of landfill. And what exactly was there. Is the trash removed now?
Where was the fill dirt from? Clean fill?
@@RonaldRohdeLaw It was all clean fill that was put back in the hole, I’m off I-35 just outside of San Antonio on the Northeast side and everything around is being developed so I’m looking into what would be good to do with the land besides having cattle on it as of right now
Great video! But any tips on finding funding?
Do you have a project? If not. Pick a local sub market and find one first
Very interesting video!
Thank you!
@@RonaldRohdeLaw currently doing my research 🤞🤞
@@nunomachado2110 let me know what other questions you have. I’ll do another video
What books you recommend to read about industrial real estate ? (I bought your book alrdy😂)
There isn’t much out there. Some books from a tenant or broker perspective may be helpful. Industrial Income by Justin Smith
@@RonaldRohdeLaw ye, Justin wrote nice books, I looking something like his books, mby you know?
Im in the DFW area and it seems most cities are requiring all concrete paving. Its never working for my numbers to get a realistic parking rent for a 5 acre lot of concrete poured. Any numbers on this would help.
It definitely depends on the City, gravel is going to be your best bet. Pure concrete yard only may not pencil, but what about with a small building? You'll get much broader uses with a building as well.
What kind of motorcycle do you have??
I used to have a GS500! ZX6R !!!
I hear recycled asphalt is free. They will even bring it and dump it on your land. Maybe a small fee for delivery. How truthful is this?
How can you get it?
Does it require onsite detention for trucking parking?
depends if you have nonpermeable surfaces installed or not. If you're doing concrete, yes you'll need water detention/stormwater accountability
What are your thoughts on leasing the land? And what would you expect to pay?
We’ve considered it but leasing becomes purely a cash flow business that needs scale to exit vs covered real estate investment
I wouldn’t spend more than 1/3 of gross rents on total rent revenue
@@RonaldRohdeLaw what are the advantages to owning the land since you can’t write it off but can write off rent payments…
@@alexcowley8110great question! Wish it was answered, very helpful video! 👏🏾
Almost need a separate expense line just for bollards!
One included for gate installation 😂
"SIM-MY Truck" not "Sim-ME Truck" 😂 you don't sound Canadian to me 🤔
Got me!!! I have no clue how to pronounce it (blame AI)!!!
@RonaldRohdeLaw 😂