All Forum Posts by: Ian Price

Craig,

I have never bought a self storage, but I have knowledge from assisting an appraiser with over 25 self storage comps. 

For rates, look at what other local competitors are charging. That's a good starting point. Then assess where your competitive at. Podcast 138 with @MichaelRogers

Are any of the units climate controlled? Is the fencing with keypad entry, cameras?

Samantha welcome! Like many others on BP, a lot of my inspiration started by reading Rich Dad Poor Dad. That book has changed my life. 

Another good one for you could be BPs ultimate guide to real estate investing. Anything in the education tab is worthy!

Best wishes

Hi Jeremy,

I'm not far from you. Over in LaPorte! I'm also I newbie trying to learn and do my first deal.

I've had some success in finding a mentor. It's been a process and the relationship isn't where it could be yet. Just takes a little time and persistence I think. Basically, leverage any relationships that you have with people in Real Estate who are successful. Thats where I've been finding the best outcome. 

The bank chooses the appraiser, and I believe the bank provides the the inspector too.  

The purpose of hiring an appraiser or inspector depends on the situation. Cash, private money, hard money, and conventional loans determines each ones terms and conditions (property "as is" or due to inspection, etc) 

I hope someone else can add more to this discussion

https://www.biggerpockets.com/renewsblog/2016/06/2...

BP Podcast 180: 58 Deals by Age Twenty-Three with Devan McClish

I am about to turn 23. Great inspiration for me personally.

@Kristin Vandersteen to BP! It's awesome you are here! I will eventually invest in the Valpo area and also in La Porte County.  I am working towards my real estate license as my next big step.

Greetings @Kishore P. Always work towards your "why".

Best Luck!

@Keith Gardner Welcome to the site! Like everyone is saying, use this site as education! The Podcasts are awesome for motivation, tips, and knowledge.

Best of luck!

@Stephen Sokolow No not the cities but surrounding country like westville, wanatah kingsbury does! Do you know have experience with these loans?

@Stephen Sokolow I will definitely call First Source. I do personal banking there. I plan on investing west of South Bend in La Porte and Porter Counties. 

For the HML PML interest rates, Yes they can sour the deal for a while is what I am finding. That's why I want to find a local conventional lender that has a seasoning period less than a year. Best case scenario, I can get a property appraised right after renovations and installed tenant for low REFI.