All Forum Posts by: Falgun Chokshi

I'm vetting a 12 unit storage facility in PA, which has two additional parking spots for rental. Asking price is $329,000. It has a new roof and significantly renovated exterior walls and new garage doors. No security, fence, or cameras. Only electrical is lights above each garage door.

10 units rent for $250 per month on 12 month leases (10x19 ft each), and 2 of the units are doubles (20 x 19 ft each), renting for $500 per month with 12 month leases. Each parking spot goes for $100 per month. No extra land for expansion. 

According to the seller, it's about 90% rented, with nearly everyone on 12 month leases. Vast majority of the tenants are building contractors that use the storage for their tools, supplies, etc.

So, how should I vet this? Questions to ask, things to be careful about, etc? Walk me through it. Really appreciate it.

Thanks.

Has anyone been a client of "The Real Estate CPA" firm? Specifically interested in experience for advisory services.

https://www.therealestatecpa.com/

Thanks.

@Andrew Postell

Thanks. That’s helpful.

Are there any websites to search specifically for Residential RE Investment Mortgages? 

Seems like I keep finding ones for buying primary homes, not investment properties.

Thanks.

@Spencer Sutton

I’ll check them out. Thank you.

@Mark Ainley

Thank you.

@Steve Rozenberg

This is great. Thank you.

@Nathan G.

Very helpful! Thank you.

I'm looking for recommendations of reputable property management companies and managers in the following greater metropolitan areas:

Orlando, FL

Tampa, FL

Birmingham, AL

Chattanooga, TN

Philadelphia, PA

Atlanta, GA

Appreciate details on Full Service PM and on just screening tenants and onboarding.

Thanks.

@Gaspare U. Yes. It’s vacant. Same concern I have as well.