How to Extend Your Building Roof Life with Dennis Ghormley - CREPN #218
Commercial Real Estate Pro Network
Release Date: 10/17/2019
Commercial Real Estate Financing Options with George Otel - CRE PN #520
Commercial Real Estate Pro Network
Today, my guest is George Otel. George is the seasoned entrepreneur with over 10 years of experience in real estate and finance, and in just a minute, we're going to speak with George Otel about business finance.
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BIGGEST RISK with George Otel
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you, George Otel, what is the BIGGEST RISK? George Otel The biggest risk when it comes to funding, is not looking for funding early enough, because the biggest risk is when people call me that they need funding yesterday. So it's I tell people you always have to look for funding, even if you don't need it, because when you need it, you may not find it where you may be. Tweaks. Expensive because of your situation. Let's say you got to look for funding when you're doing good, when you're doing great, because the lenders see less risk in...
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Virtual Assistants for Real Estate Focused Businesses with Pete Neubig - CRE PN #519
Commercial Real Estate Pro Network
Today, my guest is Pete Neubig. Pete is the co founder and CEO of VPM solutions, and in just a minute, we're going to speak with Pete Neubig about the Benefits of Hiring a Remote Team.
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BIGGEST RISK with Pete Neubig
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you. Pete Neubig, what is the BIGGEST RISK? Pete Neubig So the biggest risk for VPM, well, I would say for us, the biggest risk is, at the end of the day, we're a payment processor, okay? You know, even though we have all these whistles and bells where you have this marketplace and you have these searches and you have this training, you have this video, if I can't pay people, I'm out of business. And so my biggest risk is that we are connected to stripe, and if stripe decides to cancel or go belly up. You know that I cannot process...
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Interior Design Space Planning for Multifamily Housing with Marcy Sagel - CRE PN #518
Commercial Real Estate Pro Network
Today, my guest is Marcy Sagel. She's the founder and principal of MSA interiors, with over 30 years of experience shaping multifamily housing, student living and senior housing and more. And in just a minute, we're going to speak with Marcy Sagel about From Blueprints to Brilliance, designing multi family spaces that rent.
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BIGGEST RISK with Marcy Sagel
Commercial Real Estate Pro Network
J Darrin Gross I'd like to ask you, Marcy Sagel, what is the BIGGEST RISK? Marcy Sagel I'm going to answer that in a few parts, because there's different aspects of the job that can be different risks. So when we pick materials for a project, we have to make sure we're working with tried and true materials, okay, materials that are not going to fail on a job, for instance, in the units, if we select a, you know, vinyl plank flooring, we want to make sure it's going to last. So we only work with manufacturers that we know are going to give us a solid product, not we're not trying to test...
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Workforce Housing Community Development with Lissette Calderon - CRE PN #517
Commercial Real Estate Pro Network
Today, my guest is Lissette Calderon. Lissette is the founder and CEO of Neology Group, a vertically integrated, lifestyle driven residential and commercial real estate firm that specializes in transforming undervalued neighborhoods into sought after communities, and in just a minute, we're going to speak with Lissette Calderon about solving for housing's greatest need, a focus on workforce communities.
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BIGGEST RISK with Lissette Calderon
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you. Lissette Calderon, What is the BIGGEST RISK? Lissette Calderon Well, I think in today's world, probably the biggest risk you have is uncertainty. And how do you underwrite uncertainty? You know what happens next? How do you underwrite whether it's Harris insurance numbers, construction costs, what does that uncertainly look like, and what, how do you underwrite that? So, you know, how do we do it? You know, we really can't avoid it because, you know, we're developers. So of course, our job is, you know, we really think about a how...
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Commercial Real Estate Career Success Skills with Allen Buchanan - CRE PN #516
Commercial Real Estate Pro Network
Today, my guest is Allen Buchanan. Allen Buchanan is an S, I, O, R, and is a nationally recognized commercial real estate broker, columnist, speaker and creator of the sequence success framework. He's also a principal at Lee and Associates in Orange County, California, and in just a minute, we're going to speak with Allen Buchanan about building a successful career in commercial real estate.
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BIGGEST RISK with Allen Buchanan
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you. Allen Buchanan, What is the BIGGEST RISK? Allen Buchanan Darrin, for me, the BIGGEST RISK is relevance. And I use this in a micro sense, in a macro sense. The micro sense is, I'm 68 years old, and so I realized that I'm on the back nine, maybe the last three holes of my career. And so maintaining relevance with those with whom I deal, first and foremost, family members, clients, friends, etc, there's then a relevance in terms of the commercial real estate profession. I know you've had guests on your podcast that specialize in...
info_outlineHow to extend your building roof life is a value add topic for all real estate investors.
Building owners with composition shingle roofs, Dennis Ghormley with Roof Maxx explains how to extend your roof life and receive a 5 year transferable warranty.
History of Composition Roof Shingles
The history of composition roof shingles begins with the raw materials. The shingles are a petroleum based product. Originally, they were made from waste product of the oil refining process. Over time, oil processing has become more efficient and so has reduced the amount of waste byproducts. That’s good for the environment and the oil business profits, but not for the composition roof shingles.
The improvement in oil refining lessened the quality of composition shingle, so much that the roofing manufacturers had to start with raw crude oil in order to create a finished product that would last as long as prior products.
Unfortunately, the concentration of raw material used for roofing shingles is lessened when unable to start with the byproduct. Because the new roofing raw product started with a pure raw material instead of a waste product, the cost of the material and the end product naturally increased.
Cost of Capital Improvement
Capital improvements are just a part of owning property. The substantial cost of capital improvements requires property owners either inject additional capital into the property or reduce cash flow distributions to pay for the improvements.
How to Extend Your Building Roof Life
Roof Maxx is the manufacturer of the all natural, soy-based, environmentally safe product that is sprayed onto your composition roof. The product penetrates your old shingles and gives them improved flexibility and the ability to keep your building’s roof free from leaks.
Depending on the condition of the roof, age, pitch, etc, will depend on the potential outcome from a Roof Maxx treatment. Ideally, a property owner treats their composition roof in the first 5-7 years. The expected roof life of a composition roof can be extended from 5 to 15 years depending on when the roof is first treated and the number of subsequent treatments. The treatment comes with a 5 year transferable warranty.
Cost to Extend Building Roof Life
The cost to extend the building roof life when applying a treatment of Roof Maxx is significantly less than the cost of a new roof. Typical treatment cost between 10-15% of the cost of a new roof. The product is relatively new to the market, but has been very well received.
Roof Maxx will not save every roof, but for those that qualify, the 5 year transferable roof warranty will provide the buyer confidence that the roof will last at least 5 years from the date of application. The cost savings of a treatment versus a roof replacement can buy the property owner time to budget for a replacement, or to transact the sale of the property.
Environmental Benefits of Extending Roof Life
The environmental cost of re roofing is not small. By extending the roof life of your building, you are reducing the consumption of wood and petroleum products required to reroof a building. Additionally, you are eliminating the disposal waste that is added to landfills when you reroof. Annually, it is estimated that over 10 million tons of roof material is kept out of landfills by the usage of Roof Maxx.
BIGGEST RISK
Each week I ask my guest, “What is the Biggest Risk Real Estate Investors face?”
BIGGEST RISK: The longer a roof is on the structure, the more risk that that property owner has. If we can keep the roof on the property longer, and mitigate the risk of leaks and other issues that come from the failing roof and also the risk to the environment where we can keep the roof waste out of landfills.
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(503-766-3729) and (360) 207-4572