All Forum Posts by: Dawn Young

From how I understand it, "garages" recoop their money pretty well when you go to sell. And storage is pretty popular.  Run the numbers.  Also, What are the legalities? Does the city allow it?   I wonder.  Not sure.  I know I can rent pasture for a horse if I have adequate acreage, and I certainly don't have to tell city hall.    

We have thought of that!  I love that idea. ok, for this, I am talking SMALL.  So, obviously I'd be crunching the numbers to see if it works, that goes as a given.  And, I know that as a general rule, storage builds are supposed to be huge in order to make money. --I respect that opinion, but, right now, I'm thinking outside the box.    

 So, just brainstorming, I know I must be things out----- the improvements would be: leveling (if necessary) gravel, (compaction???) Electricity for lights, secured to the containers(to save $), video camera surveillance,  fence (although some places I've seen have no fence, I've noticed) and electric gate, signs, the containers themselves.  What am I forgetting?I am blonde at the roots...  other things to aquire:  business license, insurance, office organization/files/etc (in my house), phone, or internet phone number, ads(craigslist), contracts.  Hoping water is not necessary?  I can't see why it would be, and in our previous builds, its spendy!!!  I'm pretty competent with business and advertising on the small scale, as that's what I've done for years.  I just wouldn't want to leave something out of the budget!  

Hubs was able to switch from a job he hated to a job he likes due to our rental properties.  :-). 

Interesting, I wonder if it makes a difference if it's a richer area or a poorer area.  My issue with storage is it's spendy.  Low caps.  Which makes us want to build our own, which has a whole set of risks.  Especially since we're not millionaires.  So we're halted on it for right now, but my husband would love to have one, and my dad as well, so I would imagine someday we'll do one.  I have a guy that would be interested in partnering as well.  Or if someone more experienced than us wanted to partner to build one/buy one.  We might be interested.  I think I could run it in large part from my phone/computer at home, and hire someone to clean out units locally.  But I'd love to hear input on that.  

Late, I know, but just wanted to add.  I think the only reason the banks want to see the leases is if the rents are going to be part of the income qualifying the loan.  If you had SO MUCH income that you don't need the rental income to qualify, then it wouldn't matter--it could all be vacant.  

I just made a comprehensive list of all all the comments from bp'ers for 4 posted questions about skip tracing. They are as follows:

free places:

white pages, switchboard.com, pipl.com, courthouse records, Ask the neighbors! spokeo (reported as lousy)

places that cost money:

TLO ($1)

peoplefinder, intelus ($25), find the seller.com($20per search) been verified($60yr), accurint (expensive and hard to get acct), privateeye.com

I'm curious about this sort of thing, too, what circumstances lead to note calling/HELOC freezing?

I know this is an old thread, but I thought I'd add my 2 bits. I just read somewhere that Wells Fargo did HELOC on investment property, but I can't remember where I read it, or if it was commercial or residential investment property. You gotta love the idea of a "line" use it when I need it, and not pay interest till I need it. Did you find anything?

Hi!  Did you ever do it? :-)

Just 2 for now, but we'll work our way up!  :-)