Catherine Bell bought her dream house under asking price in 20 minutes after a banking delay. She then outlines a two-phase development plan for an air park property, starting with a fenced yard and moving to light improvements like fencing and office space, arguing industrial uses beat multifamily or retail.
Are you in the deal room?
It's how I got my house. It went under contract and I wasn't ready with all the banking documents I got. And so in the meantime, I, you know, spent the month getting ready with all my banking documents. It fell out of contract. I literally got under contract in 20 minutes and I got it for less than what it was originally listed for, which was a really big deal. So I'm saying we can get this building over by the air park the same.
The same one. The winning business model is to do phase 1 by stabilizing the property, get the multi-tenant fence yard built out, put in phase 2, which is to increase value with light improvements such as getting rid of the compromised fence, upgrading the surface, doing better striping, getting a circulation pattern put in there, and then expanding the office dispatch space and putting small bay industrial or even service buildings for feasible. Like the place we're building now, which is getting, which is getting repurposed from industrial to multifamily. We're going into this industrial space and industrialing it even more, right? So why this beats the alternative? Better than multifamily, better than retail, better than office, better than pure landhold, better than what else? Nothing. So the best use rankings: iOS, contractor, small base, fleet dispatch, materials lay down.
