All Forum Posts by: Brady Johnson

Has anyone tried the Luxury Vinyl Sheeting instead of LVT? It looks like Mannington makes a higher end product for this. @James Allen?

I couldn’t agree more @Account Closed, very well said! I typically like to partner with those who want to bring money to the table but don’t have the time or knowledge to do so on their own. Then I bring my experience and ability to actually get the deal done, and we all walk away happy since it wouldn’t have happened without both parties. I’ve seen people form long term partnerships that did NOT work out well, so it is nice in RE that most deals are relatively short term and therefore you can reevaluate the expectations each time, and make adjustments as needed since life changes too. On a side note, I’m definitely looking forward to attending some meetups in the future once the pandemic passes to meet new investors and form new relationships. Thanks again!  

@Matt Smith I recently signed up for Mike Wagner’s FREE 7 day course at Storage Rebellion and am learning more than I could imagine in less than a week! Access to his forum/community alone has tons of value, so much so that I’ll be upgrading to the more in-depth training sessions soon. Best of luck.

I forgot to add, make sure you lock in your offer FIRST with contingencies for all of the above, and then start doing your homework. You wouldn’t want to waste the time and money getting septic inspections, soil tests, etc just to have the seller pull out last minute. I also just saw you’re a GC, so that’s even better since you can do the build yourself!

@Jeff Williams I flip land and have run into similar situations. From my experience, getting approval for an RV on land is even harder than a mobile home in most places so I wouldn’t count on that option. If the lot is so narrow that you would have to build a small house, it sounds like putting storage on it wouldn’t be any easier since it takes more land. How much land is it and how wide is it? I would hire someone to inspect the septic system and they can give you a good idea whether it needs to be replaced or not. Having their inspection could help with permitting at the County or could be a good thing to show buyers if you’re just looking to flip it. I typically look up the local County code and it will tell you the necessary setbacks, allowable uses of land, etc. Even with a narrow lot, you can usually find a house plan that fits any size. My biggest profits have come from seeing or finding potential in a property that no one else sees and adding value to it, so depending on how far you want to take it, you could flip it to a builder for a quick profit once you show them it IS buildable, or if you have the experience or a partner who does, you can build on it and increase your profit. Let me know how it goes or if you have any additional questions, good luck!

@Kyle Shepherd I do land flipping and the banks I work with always require 20% down and a 20 year loan for raw land. If you have plans to build a residence at the same time (for yourself), it can go to 24 years sometimes. Once it’s built you can refinance to 30 years. For Commercial lending the terms are different too, and as mentioned, the 30 year term is when you get a residential mortgage (4 or less units) in your own name and you live there.  Good luck!

@Greg Dickerson what are the average prices you've seen in central VA for a drive up facility? Mainly just looking for the costs related to the site work and building itself in an open field, not including fencing or gates. Thanks!

@Steve Cheslock I just came across this post when doing research on self storage. Did you end up purchasing this property and if so, how did everything turn out?

@Scott Meyers you’ve been a ton of help already without even realizing, as I’ve been watching a lot of your videos and interviews online to get your perspective about the business. I appreciate all the information you put out there and it's great hearing from you. I hope to keep in touch!

@Masha Klapanova thanks for reaching out, I’d love to hear more about your experience in Mike's program and in self storage investing in general. I’ll PM you :)