Hapgood Capital

Hapgood Capital HAPGOOD CAPITAL is a real estate investment company founded in 2013 and headquartered in Memphis, TN.

Our firm raises private equity from Accredited Investors for acquiring commercial real estate, and in return our investors receive passive monthly income

We replaced the roof at our office building in Cordova, TN (in the Memphis area.) It needed a new roof when we acquired ...
09/24/2024

We replaced the roof at our office building in Cordova, TN (in the Memphis area.)

It needed a new roof when we acquired the building it in 2017, but we didn't replace it until this month as we had no leaks. It was nice to push out this CAPEX item - that was accounted for in our acquisition proforma - by several years. The total cost of the roof replacement was $33,780 with a bid price of $31,500.

The point here is that establishing and managing your CapEx budget is critical to hitting your ROI and cash distribution targets for your investors. In this case, we deferred this roof replacement by over 3-yrs from what we had in our acquisition proformas. Forecasting CapEx items on the front end is an important exercise although you will never get it right. We recommend being liberal on your estimates and conservative on your schedule and then attempt to defer these replacements as far out as is reasonable.

We miss you Dad, all our love!! Clifford Gary Niederer (Cliff) passed away on December 18, 2023, at his home in La Jolla...
12/31/2023

We miss you Dad, all our love!!

Clifford Gary Niederer (Cliff) passed away on December 18, 2023, at his home in La Jolla, CA. A home he shared with his beloved wife, Mia Pearson, who was the love of his life.

Cliff’s hearty laugh filled many rooms with warmth, joy, and often a bit of flair. He loved to engage in thoughtful, energic conversations about life with friends and family. Whether it was flying, spearfishing, swimming, sailing, collecting art and books, wood working, boat building, fly fishing, or being a wine connoisseur - Cliff had a wide array of interests that he approached with a curiosity and passion that lead him to be an expert in whatever he pursued. He approached life with a fearlessness and drive that was revered by those around him.

Born on September 15, 1946, in Arcadia, CA, Cliff was the only child of Clifford and Dorothy Niederer. As a child, he developed a love for reptiles, collecting tribal artifacts, traveling, swimming, skin diving, reading, and weightlifting. These passions would remain with him throughout his life. He graduated high school from La Salle College Preparatory school in 1964 and earned a degree in psychology from the University of San Francisco in 1970. While in college his father-in-law introduced him to sailing and in 1968, he purchased his first sailboat, an 18-foot Mercury-class sloop, and thus began his long love affair with sailing and boat building.

After college, he became a police officer with the Corte Madera (CA) police department. By the early 1970s, he was living in Sausalito, CA on his 32-ft schooner, Viator, and immersed in the world of sailing and boat building. Cliff then moved to Tomales Bay (Inverness, CA) to pursue traditional wooden boat building full-time. He would construct six boats over the next eight years. Two Friendship sloops, two Whitehall rowing boats, a 38-ft tugboat hull, and the Dorothy Marie, a 41-ft coaster-type schooner. Cliff launched the Dorothy Marie in 1980, and later stepped the masts and rigged the boat in the Puget Sound (Bainbridge Island, WA) where he lived from 1981-1983. Cliff cruised the Dorothy Marie from Alaska to Mexico and lived on the boat in Sausalito until he sold it in 1987. All these events and later sailing adventures are well chronicled in his book “Schooners, Seekers, and Seas” published in 2016.

After selling the Dorothy Marie, Cliff moved his passion for design and fine woodworking ashore to work on residential and commercial remodels, custom furniture design, and fine woodworking under Niederer Architectural Design and Fine Woodworking. His projects varied from wine-tasting bars in Napa, to a Japanese bathhouse on the Mendocino coast, to custom built offices in San Francisco. In 1990, he earned his architectural degree from the UC, Berkeley. Over the next twenty-three years, he lived in Sausalito, Mill Valley, and Sonoma (CA) where he raised his son, Jonathan, and started a life with his wife Mia while making frequent trips to Tomales Bay and the Mendocino coast for kayaking, sailing, and spear fishing adventures. He later retired and moved with Mia to La Jolla, CA. In retirement, he became a pilot and just this year passed all requirements for a commercial pilot’s license. He also enjoyed spending summers in Montana, where he became an avid seaplane pilot and enjoyed exploring high-country lakes around Whitefish, MT. Cliff was a Senior Advisor to the private equity real estate firm, Hapgood Capital, and had his acting debut playing the part of a crime boss in his son Jonathan’s latest movie “The Kills.”

Cliff is survived by his wife, Mia Pearson; two sons: Jonathan Niederer (LA), Christopher Niederer (Germantown, TN) and wife Sandra Saunders; three grandkids: Sabrina Elmore (Hendersonville, NC) and husband Mark Elmore, Madison and Grant Niederer (Germantown, TN); and two adorable great-granddaughters: Ava and Vera Elmore (Hendersonville, NC.) He is predeceased by his parents Clifford and Dorothy Niederer. Charitable contributions in Cliff’s memory may be made to the Ocean Conservancy or the American Cancer Society.

I love this quote... this relates to investing in commercial real estate.  "You can make money, on any block, in any cit...
04/28/2023

I love this quote... this relates to investing in commercial real estate.

"You can make money, on any block, in any city."
- Marty Burger, CEO Silverstein Properties

Check out Marty's interview with Brian Sullivan on Last Call.

Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Marty Burger, Silverstein Properties CEO, and Bess Freedman, Brown Harris Stevens CEO, join the show ...

This week we upgraded our mailboxes at one of our small office buildings. Although the new ones look much nicer the prac...
09/01/2022

This week we upgraded our mailboxes at one of our small office buildings. Although the new ones look much nicer the practical necessity was for lockable mailboxes because too much mail was being stolen. Unfortunately, that's the world we live in today!!

We're planning to post a few items related to managing our office buildings including general maintenance and upkeep, tenant relations, and property upgrades to name a few... maintaining a solid focus on assets under management is critical to realizing solid long-term returns and minimizing tenant turnover.

Storage has been an attractive asset class in the CRE sector... a subclass that is particularly attractive is secured pa...
07/01/2022

Storage has been an attractive asset class in the CRE sector... a subclass that is particularly attractive is secured parking for boats, RVs, trailers, campers, equipment, extra vehicles, etc.

Although I'm not an investor in this particular deal, I know the owners that developed this project in east Shelby county off Hwy 64 in Eads, TN. I'm blown away that their breakeven point is under 20% occupancy and the demand is high for these types of storage.

If you’re looking for a safe and secure place for RV storage and more near Eads, TN, with easy access, then you’ve found the right place.

Interesting article!!The city of Memphis has discussed this issue of regulating rental properties and making them regist...
06/23/2022

Interesting article!!
The city of Memphis has discussed this issue of regulating rental properties and making them register but with NO action this far. It appears some of the Memphis suburbs particularly in north Mississippi may be starting to take action. The maintenance and upkeep of rental properties varies widely among owners. My general observations are that neighborhoods with high percentages of rentals get looking pretty shabby because owners and renters alike are focused on keeping their costs down rather than keeping things looking nice. Owners in the Memphis area haven't suffered from property value declines as high demand for rental properties from outside investors has driven valuations up significantly in the last handful of years. We have enjoyed very much the exit from our rental house business!!

DeSoto County cities have been discussing the influx of rentals, particularly the trending practice of larger companies outbidding single families to buy private homes to rent.

We just moved four rentals off the board.  We are actively looking for some suburban  office buildings to acquire.   We ...
06/16/2022

We just moved four rentals off the board. We are actively looking for some suburban office buildings to acquire. We are also evaluating some potential deals in the MH, storage, retail asset classes that are being offered by other sponsors.

We been working on improving our landscaping this year at our  747 Timber Creek Dr. office building.  We re-sodded a por...
05/26/2022

We been working on improving our landscaping this year at our 747 Timber Creek Dr. office building. We re-sodded a portion of the property and are making upgrades to the irrigation system. I have included some older images to see what it looked like before... curb appeal is important to tenants and increases property values.

It appears the Fed is going to get aggressive on getting inflation under control... a much higher interest rate environm...
05/18/2022

It appears the Fed is going to get aggressive on getting inflation under control... a much higher interest rate environment is coming. Do you think we will be in a recession next year?

Fed Chair Jerome Powell said he will back interest rate increases until prices start falling back toward a healthy level.

Welcome to the HAPGOOD CAPITAL page!We source commercial real estate deals and the private capital needed to make them h...
04/27/2022

Welcome to the HAPGOOD CAPITAL page!

We source commercial real estate deals and the private capital needed to make them happen. We hope to offer regular postings of our activities, share some best practices and lessons learned, and highlight a few of the interesting things we experience daily in our real estate journey. We hope you enjoy the ride along with us.

Please visit our website at www.hapgoodcapital.com for more details.

Address

5158 Ridge Bend Road
Memphis, TN
38120

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