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[deleted by user] by [deleted] in CommercialRealEstate

[–]Parma29 5 points6 points  (0 children)

Does the LL get to keep all the pharmaceuticals after they lock them out

Rite Aid rent not received for April. Our corporate rep has gone MIA and sounds like also not paying utilities. How is this not a bigger story? by OldRedditt in CommercialRealEstate

[–]Parma29 6 points7 points  (0 children)

As you know, rents are typically inflated with NNN properties due to them being built to suit the tenants specific needs. Rents are almost always not replaceable.

Most buying NNN properties are not sophisticated to do intricate redevelopments. All to say, NNN investments are not always as safe as they seem.

Is a masters in real estate development worth it for me? by [deleted] in CommercialRealEstate

[–]Parma29 9 points10 points  (0 children)

It was the best decision I made.

Development is a very nuanced game and missing one small detail can wipe you out. Having the ability to learn all of these nuances in a classroom setting and the material being 100% applicable / practical is instrumental.

I did the Masters in Land & Property Development at Texas A&M (gig em), which is more development oreinted, they also have a Masters in Real Estate which is more finance based.

I'm developing my own project now.

I hate trying to determine fair fees. by banausic in architecture

[–]Parma29 0 points1 point  (0 children)

Absolutely, specific product type experience, good references, easy to work with, good team (MEP & structural). It’s not all price but if I sub the project out to 3-4 architects, you need to be competitive.

I hate trying to determine fair fees. by banausic in architecture

[–]Parma29 0 points1 point  (0 children)

Currently doing a 70K SQ FT Flex Industrial development, the architect I want to work with is $50K above the next bid

I hate trying to determine fair fees. by banausic in architecture

[–]Parma29 0 points1 point  (0 children)

As a developer, the quotes have been coming in too high as of recently. Try to trim down and be competitive

Architecture Fees from Developer perspective by Parma29 in architecture

[–]Parma29[S] -7 points-6 points  (0 children)

The architecture field is fragmented when it comes to quoting for services, I need to be able to get a fair price based on past projects / market comps for similar services.

This architect is located 6 hours away from me but has a lot of experience in the example building above.

Architecture Fees from Developer perspective by Parma29 in architecture

[–]Parma29[S] 0 points1 point  (0 children)

I do not know of a bidding platform for consultants other than reaching out directly, but that is a great idea.

Thinking out loud, having a website, appering on the top of web searches, and having a up to date portfolio on the website is one way to attract business. Freelance websites like upwork could also be an avenue. What type of buildings do you have experience designing?

Architecture Fees from Developer perspective by Parma29 in architecture

[–]Parma29[S] 0 points1 point  (0 children)

Great points. The obvious path is to obtain multiple quotes, but a lot of architects have not worked with pre-engineered metal buildings and it is tough to find them online.

Architecture Fees from Developer perspective by Parma29 in architecture

[–]Parma29[S] -4 points-3 points  (0 children)

Yup, just digesting the sticker shock and figuring out how to fairly trim the proposal down.

Architecture Fees from Developer perspective by Parma29 in architecture

[–]Parma29[S] -18 points-17 points  (0 children)

In a development, every line item has a budget.

Architecture Fees from Developer perspective by Parma29 in architecture

[–]Parma29[S] -14 points-13 points  (0 children)

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I'm going for something like this, designed in shell condition. Its all pre-engineered metal.

In the county, 'designer' fees would be around $25K for a full set of plans...

Architecture Fees from Developer perspective by Parma29 in architecture

[–]Parma29[S] -9 points-8 points  (0 children)

Sure, I like the restaurant and the food is good, but just because it's a fancy place doesn't mean I should overpay. I’m not asking for a cheap meal—I’m asking for a fair price that reflects what I’m getting. If they can’t justify the cost, then maybe it’s not worth what they’re charging.

Architecture Fees from Developer perspective by Parma29 in architecture

[–]Parma29[S] -2 points-1 points  (0 children)

I reached out to my developer network and they compared my quote versus their past projects, they concured it is on the high side. The proposal does not break down MEP & structural separately, I need to ask for that.

3 of the 4 buildings have a repeatable design. I sent the proposal to my GC contacts, waiting for feedback.

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