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28 contributions to StorageAce
Underwirtting
Ok, I found an offer by owner and its not even on the market yet. How would I underwrite this thing. If im reading his information correctly its 28 units and 60 RV parking. Location is just north of OKC. 2 employee for 100/per for the month (Personally don't sound right to me) and expenses total 700/month. Cash flows 8 to 9k a month. I guess my question is just how do I fit the parking spots in the quick analysis tool? My mind is telling me this is far from a 1m dollar deal but if its something to go after as a first facility id like to. I have to have a letter of qualification to get any more information from them which is also turning me off on the deal.
1 like • Aug 13
@Dave DeMink ill change things around when I get home tonight or tomorrow. Thank you.
0 likes • Aug 13
@Dave DeMink quick analysis tool
Book Recommendation - 'The Breakthrough Code' by Tom McCarthy
This book 'The Breakthrough Code' is AMAZING. Exactly the book I didn't know I needed right now. I'm almost finished reading it. Perfect book for my mindset to stay focused, to go even harder and to keep pushing to find my first deal. Just wanted to say thank you for the recommendation @Dave DeMink
0 likes • Aug 1
Im listening to this on audible. Think i'm on chapter 4.
0 likes • Aug 1
@Dan Wentzel I was wondering this myself. Ironically I started this book 5 days ago. I'm about to talk to my local bank about a facility in AL. Im sure ill need a bank there and a trip but at lest I can send a LOI and get pointed to the right direction.
Submitting My First LOI šŸ˜…šŸš€
Submitting my first LOI on a storage deal — and wow, the nerves are real... but so is the excitement. It’s been a journey learning how to underwrite, analyze returns, and craft offers (thanks ChatGPT) — and I still have so much to learn. But today feels like a milestone. One step closer to real momentum. šŸ™ŒšŸ¼ Appreciate this community more than you know. More updates to come as I continue to sharpen my numbers and confidence in this space. Let’s build something big. šŸ’„ā€“ Jen
0 likes • Aug 1
Congrats, how many days did you do it for?
Facility in Alabama
Welp im excited, running some numbers on a spot in AL and it looks promising. Going to hopefully talk to a bank about it tomorrow and get a better idea.
1
0
Loans
So I've been doing some research and asking banks about loans. I guess Facebook really does listen in because now I got these 0 document loans for 250k dollars with no credit pull and no questionsasked ads popping up. Are their really loans like this or these a scam? Kind of enticing in my situation but also don't wanna be burned.
0 likes • Jul 31
@Ashley Zhang right? My gut is saying that. One post said chase does it so I may check that out.
1-10 of 28
Sean Feeney
3
23points to level up
@sean-feeney-2633
EMS

Active 2d ago
Joined Dec 12, 2024
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