All Forum Posts by: Grant Grabinoski

Over the last 3.5 years we’ve worked to pay off all our debt, purchase our first primary residence, and save up a 6 month emergency fund. Sounds like Dave Ramsey right? At the time it’s what we needed to do. Soon after paying everything off we both took jobs at new companies and increased our income by 2.5 times.

Currently we AirBNB 1-2 rooms in our primary residence with about an 80% occupancy rate. We also do house sitting for some clients that brings in roughly $5k a year. On the weeks we house sit we also offer our entire house on AirBNB to bring in extra money from that business.

While paying off our debt we focused on reading real estate books and listening to Bigger Pockets Podcast to try and figure out what our investment strategy should be. We've practiced analyzing deals using the bigger pockets calculator and to be honest I don't think we really know what we want to do. We've looked at SFH, MF, and Self-Storage and we can really see ourselves doing all 3.

It seems like we are at the stage where we need to take action but honestly I’m not sure where we need to start. I know everyone has different starting points in their real estate investing but where do you recommend new people to start? What has really accelerated your learning when you first started? We have not made it to any local meet-ups nor do we really know anyone in the Houston Metro area but we’d love to meet others who have had success in this area.

Property is 18,000 sf. The current owner has not actively managed or advertised it over the last year due to him wanting to focus on other interests. That could be a red flag. 

It sits a couple of blocks North of where major flooding hit during Harvey. Doesn't look like there was any flooding and does not reside in the floodplain. I assume it's possible to get flood insurance on this if things go through. 

I'd love to hear how owing and running a current facility goes for others who work non-real estate jobs. I'm in the medical field and hours/schedule vary from day to day. Obviously we're all super busy and work needs to be done when duty is called. But didn't really know what is generally required to manage remotely especially if most inbound calls are going to the call center?

Hello All,

I'm analyzing my first self storage unit deal and wanted to present what I have currently come up with. Any feedback on what I can analyze further would be great! Here is the breakdown: 

75 Units non-climate controlled currently running at 76% occupied. Asking $325k. Historically at 85-90%. The perimeter is secured by high-quality fencing and an electronic access gate. 

Total population 1 Mile: 10,871 / 3 Mile: 82,115 / 5 Mile: 292,589

6 Competitors within 1-3 Mile Radius

Gross Income at current 76% Occupancy $3,818.24 

Gross Income at standard 85% Occupancy $4,270.40

35% Standard Expense $1,758.40

PI Loan @ 8.25% 1,899.75 (20% down on 325K)

Easy Storage Solutions Call Center $195

Easy Storage Solutions Website $49

Total Expenses: $3902.15 

My NOI / Mo with the current rate and asking price would be -$83.91. It seems like for this to work I need to find a way to increase current rates to close to 85% occupied and offer around $250k ($1,592 PI Loan). Doing this should provide a NOI / Mo of $675.99.

What else should I be looking at for this deal??? And any further recommendations???

Thank you!

@Michael Wagner

Thank you sir!

@Michael Wagner

What expenses would fall under this 33% industry standard? Operating expenses, reserves, repairs?

Are there any group events during the weekends? I see a lot of meetings during the week but no much on the weekends.