All Forum Posts by: Dan Mac

Hi there, I'm trying to refinance out of a bridge loan on a commercial property that's worth about 1.5 million and I need to pay off 360k high interest loan.  I got a great buy on the property and then signed a lease with a national tenant for 10 years plus 2 3 year renewals They will be in the buildout phase for the next 10 months or so.  So that's the good part...

But....I really suck at getting my personal taxes done each year,  2020 and 2021 are still not done.  Are there loan companies out there that will loan just off the property and not ask for my last 3 years of taxes?  appreciate any help

Good Evening, I live a little north of Spokane WA but look for deals in commercial real estate all over the states.  My ? is, I'd like to hire someone to look for deals for me but this person is a real estate agent in Washington.  He thinks he can't help me look outside of Washington due to his license being good in only Washington.  I'd be paying him not via commission but weekly wages as an employee for running numbers, making phone calls to planning department for county/cities, general DD on potential properties, etc.  If he's not involved with the actual closing of the properties, can't he just be an employee and perform these tasks for me?  thanks for any insight

Sorry, Jon not Scott

Hi Scott, pretty new here and have only done a little self storage myself but here's my 2 cents.  

For a smallish development like u mentioned you could always use a local rolled metal supplier for the shell (3' metal for walls and ceiling) like michael mentioned and then just source the doors from one of the above suppliers after you know all your rough opening sizes on your doors.  Most rolled metal suppliers, even the small ones, have a local rep that will come out for free and do all the takeoffs for your rolled 3' metal after u frame up your walls/door openings.  This usually saves me $ and time!!   

The skeleton could be either wood or metal studs, usually horizontal to the ground if non load bearing and just holding a partition between units.  If you go with wood and you don't want wood showing on either side of the walls they make a thin metal cap that can fit right over the stud to make it look like its all steel/professional construction, not that wood isn't professional, but you smell what I'm stepping in:-)  

BTW, on the rolled 3' wide metal, the big box stores can't compete with the local rolled metal suppliers on price.  But I haven't been looking in a few years, maybe its changed?    

Hi David, thanks for the welcome message!!  Most of my days are spent taxi driving kids, trying to get caught up on taxes, putting out bids etc.  I just wish I had more time to do the fun stuff:-)  Nice to see you've had success in this area.  I'd love to meet up at some point.    

Hello, name's Dan, I'm a fish and wildlife biologist (Montana State University) and I've been self employed for about 10 years running my natural resource restoration business and adding to the real estate side as I have funds.  My hobbies are ...keeping up with my kiddos (15,16 and 18), keeping my adorable wife happy, paragliding, downhill/backcountry skiing, surfing and outfitting my sprinter van with gadgets that I may never use because I'm too busy and too broke to go road tripping:-)  

I started with a smallish self storage facility in washington state, bought a few local commercial properties, and a handful of houses both local and out of state.  I rarely sell, but use income from my natural resource restoration business to fund real estate purchases. 

Where I'm going....I'd like to find more funding options for deals that I find.