Self Storage / Syndication Investment

[Lance Jorgenson]

Investment Info:

Other commercial investment investment in Idaho Falls.

Purchase price: $6,100,000
Cash invested: $150,000

I invested in this property as part of a Syndication. I am a partner with my Sister 50/50 we are 5% owners in the property. Based off the performa after 5 years we should of made 21% per year or 105% return. I am super excited to learn and see how this works since this is my first investment in Syndication and Self Storage.

What made you interested in investing in this type of deal?

The Opportunity to invest in Self Storage and that after 5 years is to cash out refy and get all of our money back plus some and have infinite return.

How did you find this deal and how did you negotiate it?

Was at a Slreia Monthly meeting and through talking with people ran into the Tyler who was putting the deal all together and was able to meet up with him later and after going over the deal I wanted in.

How did you finance this deal?

My personal savings

How did you add value to the deal?

There is the opportunity to raise rents on some tenants that have been renting for a long time and also there is a open ground where we have add in more units.

What was the outcome?

Hoping to learn how self Storage works. and build my asset base so I can invest in more properties

Lessons learned? Challenges?

It is strange for me to not have more ownership I am pretty much in the back seat along for the ride. I awesome ride just not driving.