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INTRODUCTION
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Published on Mar 30, 2022
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MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
1.
INTRODUCTION
To Mixed-Use Property Ownership
Photo by
peterlfrench
2.
A WORKSHOP
Covering Everything You Need to Know From Acquisition to Disposition and Everything In-Between!
Photo by
Barn Images
3.
BUT, BEFORE WE BEGIN
Let's Get to Know You!
Photo by
Katie Moum
4.
A BIT ABOUT YOU...
Your :30 Elevator Pitch
Any RE/CRE Experience?
Any Fun/Scary Stories?
Expectations For today?
Photo by
PeterFisken
5.
A LITTLE ABOUT ME!
33 Years in the Game
325 MF & MU Units
Former Community Banker
Former GC (Gov't & Mkt)
RE Managing Broker
CE Instructor
6.
KEY TOPICS
That We Will Cover Today
Photo by
Thomas Hawk
7.
12 KEY TOPICS (1-6)
A Brief History
The 3-Most Common forms
Setting Your Investment Goals
Identification
Analysis
Financing
Photo by
Lapichon
8.
12 KEY TOPICS (7-12)
Assembling Your Team
Management
Existing Tenants? Now What?!
Leasing
Operations
Disposition
Photo by
mag3737
9.
A BRIEF HISTORY
Of Mixed-Use Properties
Photo by
The New York Public Library
10.
It All Began in 110 A.D...
Shops & Apartments
Multi-Level Structures
Common Until 1900s
Modern Transport + Population Growth Changed Development Patterns
Photo by
Deniz Fuchidzhiev
11.
Then it Got Twisted!
Planners Segregated Uses From 1910s-50s
Unintended Consequences
Resurgence in the '70s & '80s
Reimagined in the '90s & '00s
Photo by
dlebech
12.
Societal Benefits?
Knowledge Spillover
Economic Growth
Social Capital
Photo by
lettawren
13.
MOST COMMON
The 3 Most-Common Forms of Mixed-Use Properties
Photo by
Daniele Dalledonne
14.
#1 Main Street
2-3 Stories
Commercial at Grade
Residential Above
Facing 'Main Street'
Photo by
Onasill ~ Bill - Be Safe & Happy
15.
#2 Live/Work
Business in/on Premise
Reside Above/Adjacent
Warehouse Lofts
Photo by
Drew Coffman
16.
#3 Office Residential
Offices & Residential
Vintage Buildings
The Pittsfield Building
Photo by
Chicago Man
17.
4. Neighborhood Commercial
Corner Bar
Salons
Sundry Shop
Amid Residential Homes
Photo by
Wilsonious
18.
5. Urban Resi/Comm
Multi-Story Residential
Commercial/Civic at Grade
Tenant-Focused Retail
River City or Lk Point Tower
Photo by
mikemccaffrey
19.
6. Office Convenience
Office Building
Small Service/Retail
Banks & QSRs
Tenant-Focused Retail
The Jeweler's Building
Photo by
Chicago Crime Scenes
20.
7. Mall Conversion
Residential Retrofit
Adjacent to the Mall
Northbrook Court
Photo by
Sung Shin
21.
8. Retail District Retrofit
Suburban Village-ization
Cliched Architecture
Lots of Stucco
Inoffensive
Photo by
keone
22.
9. Studio/Lt. Industrial
Creative Studios
Maker Space
Live on-Site
Photo by
Joseph Morris
23.
10. Hotel/Residential
Condos
Retail
Hotel
401 N. Wabash
Photo by
Jeffrey Beall
24.
11. Parking w/Retail
Parking Garage
Street Retail
Standalone Structure
Photo by
Phillip Pessar
25.
12. SFH District w/Shopping
Planned Community
Shopping in Core
Summerlin, Las Vegas
Photo by
Ken Lund
26.
ESTABLISHING
Your Investment Goals
Photo by
langustefonts
27.
Live/Work?
Convenience
Necessity
Defray Occupancy $
Photo by
Jeremy Levine Design
28.
Investment?
Economic Productivity
Key Metrics
Cap Rate
NOI
Cash-on-Cash
Photo by
Fabian Blank
29.
IDENTIFYING
Candidate Properties
Photo by
pni
30.
Property Sources
Off-Market Property
MLS-Listed Assets
Bank REOs
CRE Portals
Photo by
mikecohen1872
31.
ANALYZING
The Mixed-Use Property
Photo by
sjrankin
32.
5 Key Metrics
NOI
Cap Rate
Cash Flow
Cash-On-Cash
DSCR
Photo by
Luke Chesser
33.
NOI
Net Operating Income
Cash Flow > Expenses
Before Debt Service
If No Debt NOI = $ Flow
Photo by
Got Credit
34.
CAP RATE
Capitalization Rate
NOI / Purchase Price
Independent of Debt
Hi Cap = Low Price
Risk v Reward
Photo by
NATHAN MULLET
35.
CASH FLOW
Cash is King!
Net After Debt Service
What's Left Over
Photo by
lendingmemo_com
36.
CASH-ON-CASH
Return on Your Equity
Cash Flow / Invested $
Appreciation & Debt N/A
Photo by
jane.boyko
37.
DSCR
Debt Service Coverage Ratio
Bank Metric
Surplus % of P & I
1.25 : 1 or 125%
Photo by
Tim Evans
38.
FINANCING
The Mixed-Use Property
Photo by
The New York Public Library
39.
Financing Options
CIC (CDFI)
Community Bank
Non-Bank/Private Lender
SBA
National/Regional Lender
Photo by
mikecohen1872
40.
CIC is Your Lender!
#1 Mixed-Use Pros
Purchase Money
Rehab Money
Lending Mandate!
41.
Financing With CIC
75% LTV
25% Equity Contribution
Any Commercial Use
And 5+ Residential Units
42.
ASSEMBLING
Your Core Team of Advisors
Photo by
MTSchäfer
43.
Your Lender
Excellent Rates & Terms
Understands Your Deal
A True Business Partner
44.
Your Realtor
Expert Guidance
Trusted Advisor
On & Off-Market Deals
45.
Your Attorney
Must-Have in Chicago
Sound Legal Advice
Keeps You Safe
Photo by
Marten Bjork
46.
Your Insurance Agent
Protects Your Property
Peace of Mind
Lender Requirement
Photo by
Craig Whitehead
47.
Your General Contractor
Needed For Work
City Requirement
On-Time & On-Budget
Photo by
Fire Monkey Fish
48.
MANAGING
The Mixed-Use Property
Photo by
magnetbox
49.
Do it Yourself?
Hard Work
Save Money
Deal With Tenants
Photo by
Do Nhu
50.
3rd Party Manager?
Absentee Ownership
Manage The Manager
Pay Management Fee
Photo by
Tim Gouw
51.
EXISTING TENANTS?!
Now What?
Photo by
Jasmin Sessler
52.
WIPED-OUT!
AT THE SALE, THE LEASES ARE NOT
Photo by
Roberto Sorin
53.
RUN WITH THE DEAL!
ALL THE TENANTS
Photo by
terren in Virginia
54.
Residential Tenants
Are Inherited
Subject-To Tenants' Rights
CRLTO Governs
Photo by
Patrick Perkins
55.
Commercial Tenants
Are ALSO Inherited
Estoppel Letter Required
NO CRLTO
Photo by
Mike Petrucci
56.
LEASING
The Mixed-Use Property
Photo by
shingst
57.
Residential Leases
It's a Gross Lease
Fixed Monthly Rent
Separate Utilities
Most Common Form
Photo by
Tierra Mallorca
58.
Commercial Leases
Most-Common
Gross Lease
Modified Gross
Photo by
Álvaro Serrano
59.
Commercial Leases
Less-Common
Double Net (NN)
Triple Net (NNN)
Absolute Net (AbsNNN)
Percentage
Photo by
JeepersMedia
60.
Net Lease Components
Base Rent
Pass-Thrus
Property Tax
Insurance
Common Area Maintenance CAM
Water
Photo by
Rain Rabbit
61.
Is the Tenant's Use Legal?
Zoning Compliant Use?
Municipal Approvals Required?
Check the Zoning Map
Check the Zoning Ordinance
Photo by
JobsForFelonsHub
62.
OPERATING
The Mixed-Use Property
Photo by
National Cancer Institute
63.
OPERATIONAL GAMEPLAN
Cap-X Plan
Accounting Strategy
Tax Strategy
Hold v Sell Strategy
Photo by
footycomimages
64.
DISPOSITION
Of The Mixed Use Property
Photo by
Gary Chan
65.
Keep, Sell or Trade?
Hold & Bequeath?
Outright Sale?
1031 Exchange?
Photo by
PinkMoose
66.
BRING IT!
Time For Q & A!
Photo by
Emily Morter
67.
WANNA WORK TOGETHER?
Scott M. Siegel | 773-968-1110 |
Scott@SRFGInc.com
Photo by
Mike Hindle
Scott Siegel
Haiku Deck Pro User
https://www.facebook.com/app_scoped_user_id/10207903224647094/
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