We are under contract on a facility and I want to make sure I share this project journey with you so you can see the exact steps we take during the DD process. Teaching from theory is one thing. Walking you through an actual deal in real time is a whole different ball game. This is a good one as I've underwritten a lot of deals and have never come across something quite like this! This facility has 110 units. 35 of those units are past due for a total amount due of over $100k! Some made their last payment as far back as April 2018.. Another 19 units are being used by the owner and family for FREE! Current street rates are about 40% below market. No internet on site.. No Website.. No software.. No one answering the phones.. No P&L.. No management reports.. No tax returns... Just a spreadsheet rent roll and a handful of bank statements. Currently collecting about $2,500 per month. We should get that up over $10k per month within 3 years conservatively. Current 3 mile market supply = 17 square feet per capita. Average HH income = $66k 3 Mile Population = 29k people Under contract for $29 per square foot! Drop your questions or comments below! 👇

Does anyone own a facility in Louisiana? I just got sent this code requirement, which I've never heard of before - https://www.law.cornell.edu/regulations/louisiana/La-Admin-Code-tit-55-SS-I-1931 Was wondering if they've gone through this process before and how enforceable is it.

Hi All! We closed on our second facility last week and are hoping to get some positive reviews going on our google page. Would love to return the favor for anyone that leaves a review and will be eternally grateful! Thank you.. https://share.google/w6um6D2aavVlqZ39b

Anyone have painting done recently and have a recent quote they can share on price per sf?