All Forum Posts by: Kim Uhland

Thanks to all for the information and encouragement!

Hello BP,

I live in northern Virginia and am considering Richmond for buy and hold.  I would appreciate any local input.  Which areas of the city are strongest for cash-flow? Which are best for low-turnover?

Best,

Kim Uhland

Also, I realize cap rates are highly area specific, but can anyone give me a general idea of how far properties are closing below the listed cap rate?

Hello BP,

My background is in self storage (operations, development, acquisitions) but it’s been a while since I’ve been on the acquisitions side of things. My experience is at the corporate level so I’m hoping that you all can give me an idea of what a typical deal would look if I were to acquire something personally.

• LOI vs. Contract-ten years ago LOI's were prominent, is this still the case or are most buyers skipping straight to contract
• Financing structure-LTV, seller carry back (if any), rates
• Are most deals funded using conventional or SBA financing?
• Lending used to be so tight that you almost had to secure financing before isolating a property. Is this still the case or will I have a wide variety of options once I have a facility tied up?
• Will lenders consider funding a deal that is in a different state from my base of operations?
• I’m comfortable running the numbers, is it worthwhile to have a broker represent my side of the deal?

Any input is much appreciated.

Kim

@Elizabeth Colegrove  Same here!  My resume is twice as long as most because I've worked for so many different companies.  I have several friends who've been able to telecommute but with RE Dev being so local, that type of setup has been a challenge for me.  

Thanks to all for the warm welcome!

@Brian C. Where did you end up settling in NOVA?  I'd be curious to get your thoughts on the current status of the market.

@Chaz Reid My husband is an Air Force pilot.

@Kerry Baird and @Elizabeth Colegrove I'd love to compare notes with both of you.  Real estate isn't always the most transferable career field; I'd love to hear how you both have been successful despite all the transition.  

@Roger Lin I look forward to meeting at one of the investor meetings once we get settled.  I'll definitely be in touch regarding mixed use and SS properties.

Hello BP,

I've been watching the forums for some time now and finally decided it was time to jump in. I've got a masters degree in real estate and have been in development (single family and self storage/industrial) for approximately ten years now. My husband is in the military which has bounced us around quite a bit (DC, SC, NJ, CA, NJ) giving breadth to my knowledge of the industry. My ultimate goal is buy and hold self storage. I know the industry fairly well having developed a few from the ground up.

More immediately, my husbands job will be taking us to the DC Metro area this summer. My company would be interested in acquiring self storage there so I'll be on the hunt. Personally, I'm interested in purchasing my first mixed-use property that we could live in and also bring in some cash flow. Does anyone have a recommendation for a good commercial broker in the DMV area?

Any input is much appreciated.

Hello BP,

I've been watching the forums for some time now and finally decided it was time to jump in.  I've got a masters degree in real estate and have been in development (single family and self storage/industrial) for approximately ten years now.  My husband is in the military which has bounced us around quite a bit (DC, SC, NJ, CA, NJ) giving breadth to my knowledge of the industry.  My ultimate goal is buy and hold self storage.  I know the industry fairly well having developed a few from the ground up.  

More immediately, my husbands job will be taking us to the DC Metro area this summer. My company would be interested in acquiring self storage there so I'll be on the hunt.  For my personal use, I'd like to find a mixed-use property where we could live and also bring in some cash flow.  Does anyone have a recommendation for a good commercial broker in the DMV area?

Any input is much appreciated.