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The Terry Hale Show Episode 32

New Commercial Concept

TRANSCRIPTION

Hey, this is Terry Hale, I just want to take a few minutes
And talk about something that’s happening
Right here, right now in the office.
Just got off the phone with a broker the other day
In regards to a project that’s a mixed use.
It’s got both retail and 27,000 square feet.
And then, it also has 1.8 acres, total land.
Most people would want to avoid land,
Unless you’re wholesaling it. That’s a technique that
One of these guru guys out there is teaching how to
Take small tracts of land and wholesale it.
That’s small money, that’s pennies.
I’m talking about the big money.
I’m talking about real money, generational wealth.
And when we’re talking generational wealth,
It’s not going to be monthly passive income,
Unless you take the land and you do something to it.
But why most people don’t want to play with land
Is because of the permitting process.
Because then, it’s going to take time to go through permitting.
That means you’re going to incur debt service.
That’s not a good thing when you’re incurring debt service
Because you got to borrow way more capital to make sure
That you can pay the seller finance note.
So instead of doing that technique,
What I’ve come up with,
And this is something that I did not create,
This has been happening. It’s done and done again.
But I’m adapting to this concept, thinking out of the box,
Challenging myself with my techniques and strategies,
Instead of just going and buying a tract of land
Like most people do, and then taking it and permitting it
And going through that process. I’m doing something different.
I’m using my strategies and techniques of seller financing.
Time this property up, follow the numbers here,
I’m following this deal along with a 1.5 million purchase,
Okay, I’m putting down a half a million dollars,
Raised from private capital. I also need an additional 350,000.
That 350 is also going to be added to my purchase price
Because I’m going to be using that capital
As part of the expense to get the property to its highest and best
So I can generate money, all right.
So where does that additional 350?
Where’s that going to be allocated to?
What I’m going to be doing is taking that 27,000 square feet
And demoing out the inside. That’s not me doing demo,
I’m not going to pick up a hammer and go out there
And start slugging away. I hire professionals.
Let them do what they do best. I focus on what I do best.
That’s the phone, that’s the computer.
That’s how I do my business in-office.
Okay, I don’t get dirt under the fingernails.
What I do from there is I’m going to take that empty vanilla box
And I’m going to have a company come in
And for $9 and 50 cents per square feet.
So if you follow the math here, hundred thousand for demo 250,000
To put it to its highest and best use. Voila!
Snap the fingers, several months later, I now have converted
This mixed-use commercial 27,000 square foot box into self-storage.
The numbers, at the end of the day, once it’s rented out,
And I add additional exterior mobile boxes
To the outside of the property, it will be trading
And it will be worth closer to $10 million.
That’s how you go ahead and make money.
Turning something from what it is today
To what it truly could be in the future.
So, I hope you dig this segment,
Thinking out of the box using creative strategies.
All this is going to be done with non-conventional methodology,
No personal credit check and I’m using other people’s money.
So, I hope you dig the segment. I enjoyed talking about it.
And stay tuned for more.
If you like what you heard, go ahead and click the link below or
Just visit my website at https://terryhale.com/
Take care, talk soon.
To learn more strategies and techniques,
Visit https://terryhale.com/
Or go ahead and click the link in this video description.
And I look forward to engaging with you real soon.

KNOWLEDGE IS POWER

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