All Forum Posts by: Peter Lee

Thanks for your feedback Jon, noticing that too with the lending scenario.  Seems like a lot of banks are not taking into account or heavily discounting the rental income.  Maybe way down the line when there is more familiarity with these things perhaps appraisals will come up a bit. 

 Yeh same here more or less in CA.  You have to leverage equity in main house to borrow.  I do hear there is a very nascent lending industry based off of rental income but my guess it wouldn't be cheap.

Anyone have recent experience on how an ADU (accessory dwelling unit) or backhouse is valued these days relative to the main house?

For example, say if you have a house that is 1500sf and it would normally sell for $500/sf, what are people's thoughts if there was an ADU of 750sf built in the back with similar construction type as the main house?

Would future buyers significantly discount the ADU? If so, how much? 10, 20, 30% relative to the cost/sf of the main house?

In my neighborhood, there are probably good handful of vacant houses that have been vacant for at least a couple years.   These people aren't even renting out their houses.  Any thoughts on good approaches?

And for those experts and this kind of stuff, what kind of success rate have you had?

I deal with commercial real estate primarily and usually you can strike up a conversation with a building owner but with single family owners I have heard it can be much more tricky.

I figure this is an ages old question so would be very appreciative to see tips of previous discussion or resources.

Thanks!

@Ronald Rohde  Yes my bad.  its self storage.  I was curious whether there could be an opportunity to do a value add deal with underutilized portions of industrial space in my area and was wondering what kind of precedent there was.  I figure it's not an ideal situation but maybe if the property is acquired/ leased for extremely cheap maybe it could work.

Thanks all.  We ended up going with Storedge.  Easy Storage Solutions was good but in the end we liked the functionality of Storedge.  

Curious to whether this is a profitable venture once you have installed gate + keypad system (no onsite staff apart from some checks ins now and then) and whether customers would even rent at such a small facility.  

Thanks everyone for the responses.  I am leaning towards Storedge as it might be difficult to have more than 1 facility with Easy Storage  Solutions (we only have 1 but really dreading another migration if we acquire another one).  Supposedly you need to log out to access the second property with EAsy Storage

New owner here for a single facility with 400 units. Trying to decide btw Storage Commander and Easy Storage Solutions ( https://www.storageunitsoftwar... )

Ideally we could have a system that is cloud based, easy to use and can connect with payment processing via the website and have some easy payment processing too.

I heard that Easy Storage can do both the website + management software which would simplify things. End goal would be to automate as much as possible.

Anyone have thoughts on either platform?  Or is there something better out there?  Thanks in advance.

Excellent.  thanks for sharing