All Forum Posts by: Daniel Howard

I'm sorry that I've been slow to come back here. I have sent texts out, and most of the numbers don't answer. The people that do answer are typically pretty nice and will say either that they are or are not willing to sell or that I have the wrong number. I have had only 2 people so far that seemed upset. These were both text recipients. One wasn't upset, but was put off that I got her number off of the public record. The other sent a text in all caps that I had the wrong number and not to contact them again.

I'm currently looking for prospective sellers of properties that might be motivated for some reason. I have lists that I have obtained using Reonomy, and I'm now in the process of contacting the real estate owners named in the list. My question is what should be the policy for texting through the list of people? My plan was to send a text to each of the people, then cold call the remainder of people on the list who haven't responded after a given time period, then to send out mailers to each of the people on the list from what remains after cold calling through the list. I just wanted to make sure that I'm following all the necessary rules, and if anyone has had any experience with texting, calling, and direct mailing prospective sellers.

I'm also just starting out. I have $20K in cash, and I've been looking at storage facilities around my local area (Utah). I'm looking to focus mostly on storage, but I'm also interested in doing some house flips to help fund my acquisition of more storage facilities. I think house flipping (or in your case wholesaling) is a great way to help get more money to put into self-storage, but there are plenty of self-storage facilities out there that don't require a huge amount of money to get into. Finding a partner is always a great option as well.

@Matthew Jones I've just started looking in this space, and I'm looking to close on my first deal. I cold call a list of existing storage facility owners to see who is interested in selling. There are fewer people in this space, but there are also fewer potential deals (unlike houses which are everywhere). Also, the laws are a lot more in favor of the property owner than in residential since you don't have to worry about evicting someone from the place they actually live.

I mostly look at storage facilities, but I'm also interested to see any flips or BRRRR strategy real estate that anyone is doing that I can help invest in.

@Nick Elg I've not been really active here the last few months, but I haven't looked much at residential real estate the last while. I've focused most only storage facilities. I'm always interested in hearing about residential deals, and I'll probably spend some time looking at residential RE in between looking at different storage facilities.

I've been searching for a duplex I can house hack. I have a spreadsheet that I've been using to determine a favorable cap rate and cash flow. As I've done research to determine what kind of cash flow I want and a good cap rate (I believe the cap rate in Utah is around 5%-6%, so I'm not looking for anything much higher than that), I have found that most of the listed duplexes that I've looked at (I haven't looked for any off-market or wholesale deals yet), are listed much higher than I would be willing to offer to make the numbers work. Most of the properties I've looked at would require me to make an offer typically between 50% and 67% of the listed price. From what I've read, this seems to be a fairly common situation that real estate investors find themselves in. Also, when I hear local investors talking about a property they've bought, the purchase price was typically very low compared to the current market. I just wanted to make sure that I was on the right track and not being crazy looking for something that doesn't exist.

I got a potential house flip if anyone is interested in partnering. I'm a newbie, so I don't know much, but I was interested in working with someone that has more experience. Address is 4728 S 100 W Ogden, UT 84405, and the wholesaler I'm talking to said he was looking for $99K to purchase. I haven't seen the home yet, so I don't know how much work is required. I've sent him a message to see if there is a time I can check it out. Let me know if anyone is interested.

@James Birdsall Thank you very much. I'll be looking into them. I think that would be a great way for me to go.

I'm also a newbie. I'm going to the Utah REIA meeting this 22nd in hopes of meeting some people I can make some connections with for flipping, wholesaling, and BRRRR.