All Forum Posts by: Jared Carpenter

@Matthew Olszak

very well said, sound guidance. 

What do you disagree with?

@Austin Walker

CoStar, Yardi Matrix are a couple, however you would need a subscription. 

Value can be found reading through CBRE, JLL or Northmarq for specific market reports they publish, those are free. 

@Steve Hall

Nice to meet you Steve.

I do not see my comments as advising, rather I was providing information. 

With that said, I disagree with you that putting day 1 hard EM down is foolish. Yes it would be unwise for an unseasoned investor without the proper team in place, however in the competitive market we are currently in hard EM is absolutely a lever that can be pulled to separate your offer from the rest of the pack.

Do what he may with the information, what I stated is absolutely correct.

@Chris Murdien

This property is just outside of Houston correct?

Whether CA or TX, $20k hard EM and $30k EM after DD is light.

In my experience, regardless of the market hard EM helps you win deals. I have been a part of 10+ transactions in TX where non-refundable day 1 EM was involved. 

It really comes down to whether or not you believe in your execution and abilities. I'm sure the seller just doesn't want you to tie up her deal.

What I gather from the thread is that broker pro forma cap rates are embellished, and as a prospective purchaser you need to do your own due diligence / homework on income & OpEx.

With that said, most if not all proper underwriting will price you out of a brokers range for the asset....So how does one win deals?

Overpay for the first few?

@Joshua Watts

https://www.biggerpockets.com/forums/850/topics/665662-storage-facility-purchase

is this the story?

@Doug McVinua

Understood, could I take a look at this feed please?

@Steve Hall

Your math is sound Steve, more wondering what markets such properties exist in. 

Thank you for sending these listings across. Basically you just do an advanced search on loopnet for 40+ units <$3m - more tertiary markets, but you are absolutely correct there is a lot available. 

@Serge S.

So what do you suggest Serge for the AZ market, or do you feel it's tired and are looking outside of the state?