lofty pursuits mark schuster. timber ridge condo conversion (1997) 100 units $10,000,000 project ...
TRANSCRIPT
LOFTY PURSUITS
MARK SCHUSTER
TIMBER RIDGE
CONDO CONVERSION (1997) 100 UNITS $10,000,000 PROJECT PROBLEM
SALES DROPPED IN 6 MONTHS TO ZERO SALES DEPART. CAN’T SAY WHY
CLOSE INSPECTION BY MARK UNSOLD UNITS DIDN’T LOOK FRESH
WORN OUT CARPET BURNED OUT LIGHT BULBS CAULKINGS PEELED OFF
TIMBER RIDGE
SOLUTION PAY ATTENTION TO DETAILS MARK GOES TO WORK AFTER HOURS
CLEANS THE CARPET RECAULK THE COUNTERTOPS PAINTS THE DOOR TRIMS
HARD WORK PAYS ALL UNITS ARE SOLD
FIND A JOB THAT YOU ARE PASSIONATE ABOUT BE ON TIME AND KEEP YOUR WORD
KEEPSAKE STORAGE
FAILURE: EVERYONE EXPERIENCE IT CONDO OWNERS WANTED MORE
STORAGE SPACE BOUGHT LAND AND DESIGNED THE
STORAGE BUILDING
PROBLEMS
HAD TO CHANGE ARCHITECT A LOTS OF TIME DUE TO MANAGEMENT
OF THE FACILITY HAD TO LEARN MYRIAD OF LEGAL
PROCEDURES COSTLY EVICTIONS 4 OTHER MINI STORAGES POPPED OUT TOOK 3.5 MILLIONS TO FINISH CAPITAL CALL LETTER: I SCREWED UP
SHOULD HAVE …..
MADE A SMALLER STORAGE FOR THE AREA
DESIGNED DIFFERENTLY THREE STORY BUILDING IN THE MIDDLE SHOULD HAVE GOTTEN MORE HELP FROM
EXPERTS IN THE FIELD HIRED A MINI STORAGE MANAGEMENT
COMPANY
MOSLEY LOFTS
MOSLEY LOFTS
http://search.idxnw.com/flyer.html?id=10049850&ln=288634&ff=1&address=2720-3rd-Ave-#711-Seattle-WA-98121
MOSLEY LOFTS
$ 559,000
PROJECT
YEAR BUILT 2008 CONTRACTOR: JE DUNN
OWNER FRED SHIPMAN DEVELOPPER : SCHUSTER GROUP
OWNER: MARK SCHUSTER ARCHITECT:
MITHUN ARCHITECTS 42 UNITS X 5 DESIGNS = 210 DESIGNS YOU NEED TO LEAD THE SUBCONTRACTOR AND
USE THEIR EXPERIENCE
MARKETING
BUYING PROCESS: 2 YEARS FROM START TO END
KEEP THE ENTHUSIASM BUYER EVENTS
EVERY 3 TO 4 MONTHS KEEPS BUYERS INFORMED GET TO KNOW THEIR NEIGHBORS THE MOVIE: THE INCONVENIENT TRUTH BY AL
GORE
PROBLEMS
DELAYS EXCAVATION CONCRETE PLANT STRIKE
MEP: MECHANICAL ENGINEERING AND PLUMBING COORDINATOR
TENSION BETWEEN THE SUBCONTRACTORS COST OVERRUN: 3.3 MILLION DOLLARS
MEETING WITH BANK:LARRY AND JOE YEARS OF EXPERIENCE UNDRESTOOD THESE THINGS HAPPENED BUT TRUST IS ESSENTIAL
PROBLEMS
CONSTRUCTION LOAN NEEDED EXENSION 200,000 PRICE
TOO MUCH TIME WAS NEEDED THERE WERE OTHER PROJECTS
A GOLF COURSE RESORT A SHOPPING CENTER AND TWO OFFICE BUILDING RENOVATION
HAD TO HIRE AN OPERATION EXECUTIVE CONTRACTOR WAS NOT AS PRESSED AS US
HIRED A PRICEY SCHEDULING CONSULTANT WE THOUGHT WE NEEDED 4 MONTHS WE WERE TOLD WE NEEDED 9 MONTHS
FINISHED PROJECT
THANK YOU
KIANOUSH ZADEH