The trend is your friend & Build to Rent is king during this stage of the market cycle with investors at all levels are taking part. So how do you make your product stand out? Rick is on site with our client and partner Carlos Hernandez sharing their ground up approach.
Rick: Hello everybody! Rick Melero here with His Capital. And today I am here with one of the projects that we had the privilege of being a partner and in funding with my friend Carlos. Today what I want to do is share with you some really essential elements that really separates a builder that is really thinking about the end user. We’ve get this duplex three bedroom two bath on each side right, you literally got this from trees.
Cleared a lot and started from scratch as you built this beautiful property but what I love about what you’ve done is you really look at the finished product you’re always thinking about the consumer and the experience you’re going to have and so why don’t you share with us briefly. What are some of the things that you did that were different here in order to accommodate the customer to make sure they had a great experience in a beautiful home.
Carlos: Can I show that?
Rick: Yeah, let’s come over here.
Carlos: After getting the permit from the city authorities, we start with a lot grading and the path construction; it is followed with the slab from the project, follow with the masonry construction process. The old framing and interior partition, a roofing process, take little details at the finishes. As you see we try to offer for the new owners. The best quality for the new house.
Rick: So, Carlos. One of the things that I noticed here first thing coming in obviously as an investor you’ve been running it and you’ve done a great job. But we got to think about the product. We’re sitting in a duplex, the purpose of this property is to lease it out and most developers who build rental properties they actually don’t focus on the finishes. They actually focus on the finishes. It’s very cheap quality material the product and the finishes, don’t look great walking into this property it looks like a retail home. I mean it looks like the finishes were just right the spacing in the room is amazing. Actually for a rental property from the countertops the backsplash the stainless steel appliances. I mean the lightning is really nice.
Carlos: We get the lightings installed. Every room has the same standard. This is our company standard to get that read for just move in.
Rick: Absolutely no I love it. Flooring the colors you selected you could tell they’re neutral colors. They feel luxury like brand. New construction for an end user which is one of the things that I really like about it and I would say for any investor that’s looking right now. That’s one of the biggest and most essential elements I believe is when you’re going to do something and do with quality the cost might be a little higher but like you said you’re good steward so you find the balance between cost and the value but these properties are already getting phone calls for people that want to rent because the finished product is amazing and so you’re going to experience way more occupancy here than you would in another traditional unit that they didn’t take that to the next level and let’s go to the bathrooms here.
So you can kind of see some of the things you guys selected as the finishes and I love the selection of the actual tile as well. It looks beautiful. I noticed just from looking in the mirror that I mean it’s all the way up the wall basically for it so and then let’s take a look at the master because you also in the master have some other nice finishes here too. Yeah it’s a very functional bathroom right next to it you have the closet. I mean I really feel like every single bedroom has the fan with the lights. I mean it’s just quality and I think that’s what separates you from all the competition and that’s one of the reasons why we’re so excited to be investing with you because as investors want to stand behind something that’s going to last and I love the fact that you guys care about the brand you care about the fact that every home is a stamp of your brand and we feel the same way and so that’s one of the reasons why I feel we have so much synergy together.
Beautiful duplex we’re just honored to be a part of this project. You’re getting just a visual of the elements that make a complete different project that levels it up so that you have a quality standard product that still have a lot of cost savings. I know we’re working on a few more deals so why don’t we go back here real quick and just talk a little bit about the future and what we’re planning on doing as we started with projects like this and now we’re leveling up as well in the different projects we’re looking at so you know basically as we look at this project these are the preliminary site map basically of what we want to develop two thousand plus square units in the town homes this will be a great strategy for combination of things we are talking about being able to build these to sell them or also keep some right for casual purposes of long term.
So this is a perfect example of being able to take a pieceof land with the right team like for example with Carlos and his crew and to be able to develop this entire community maybe sell some keep some and be able to really diversify our investment approach and our investors in the fund can participate just like that all right so Carlos I want to thank you once again for everything you guys do. You guys are amazing and I’m really proud to be a part of working with your team. We’re looking forward to the next obviously a couple of projects we’re working on pretty substantial and for those of you watching right now we hope you found this information valuable that it’s educated you on what the next level should look like when you’re investing in real estate especially when you’re building value that’s really I believe the key and if you’re interested in learning about how you can be a part of projects like this all you got to do is go to your website and find out about his capital fund 3 we look forward to working with you soon.