New Storage Units Investor

[Nick Radloff]

Hi Everyone, 

My name is Nick Radloff, I recently graduated college and am currently living in Rochester MN. I don't have any properties due to being a broke college kid (I know that's not an excuse) but am looking to get started now. I've always been interested in storage units and just started a Project Management Job with a GC company that builds these. I'm not sure of all the routes I should look into for investors but I can self manage the project and have found commercial land potentially worth developing. If anyone has any advice on the next steps I should be taking, I'd greatly appreciate that.

[Ali Suleiman]

Hey Nick,

First of all, its a great start that you are involved in RE/Property Management daily, that should steer you in the right direction to eventually buy something of your own. I'm not sure how much knowledge you have on acquiring property but since your reaching out on BP I'm sure you have appropriate knowledge.

A major aspect that you are missing however is the cash! You can raise capital through friends and family to help with the downpayment of course but maybe thats not a good idea for your first property as you are still figuring it out. Try to save up as much money as you can and in the mean time continue to build your network and knowledge.

BP is a great way to build your network along with meetups. 

As for knowledge on commercial (although you are in the right spot with your property management job) I would recommend some youtube channels that I discovered that help me tremendously. 

A good channel for lending purposes is "James Eng" https://www.youtube.com/channe... 

A good channel for all things commercial is "Break into CRE" https://www.youtube.com/channe...

Let me know how it goes.