All Forum Posts by: Nathan Ruffrage

Greetings! 
My retired parents own a self storage business that I will inherit one day. We have a surplus of cash for investing right now and I’m looking into investing into my parents business. 

The property is owned free and clear maintains about 95% occupancy on about a 100 units of various sizes. The property has a large open gravel area that they offer rv and boat storage. There is roughly 25 spaces they are fully rented. 

I’m looking into proposing to invest my money into building enclosed RV and boat storage or adding for units and moving away from the rv storage. 

I would love to chat with a investor who is familiar with this industry. Thanks! 

Quote from @Nathan Ruffrage:

Quote from @Paul Riley:

Hi @Nathan Ruffrage,

If you feel like your at capacity as far as your projects go but have extra capital, you could consider privately lending on other real estate deals. You'd be lending on something you understand while it being passive and generating a good return.

I buy real estate notes and am always looking to connect with other funding partners!

 Hey Paul. I’ve been some research on that. Shoot me a DM if you don’t mind.

I’m very interested 

Quote from @Paul Riley:

Hi @Nathan Ruffrage,

If you feel like your at capacity as far as your projects go but have extra capital, you could consider privately lending on other real estate deals. You'd be lending on something you understand while it being passive and generating a good return.

I buy real estate notes and am always looking to connect with other funding partners!

At a quick glance it looks like a previous owner did a lot of hard work for you. 

I would get a drywall person in there and then paint and then the cheapest flooring possible and call it done and rent it. In my area that might run me 3,000
 

A full living space remodel- 20,000 plus depending on electrical meter upgrades etc. 

Quote from @Drew Sygit:

Why wouldn't you cashout refi your current home, then turn into STR and go buy another primary wth 20% down?

Great question. It’s a big house. My opinion is smaller is often better for STR. Its also in a area where we already own homes. 

Our STR strategy is to own properties where we like to visit and spend time. When or if retirement happens those properties will be there for us to enjoy. 

Quote from @Mike Dymski:

Well done, I don't have much to add.  Seems like we should be taking advice from you.

Hi Mike! Thanks! I’m in Travelers Rest :)

Im having some cold feet on selling our primary. The cash will be awesome but… 

I’ve had a similar situation. I pulled a Heloc on the equity on the primary and took it out and used it to flip houses. Not long after bought a house in the country. Kept primary as rental with Heloc in place to have quick cash available for other deals. Former primary is now cash flowing with a great line of credit available for when we need it. 

Greetings. 
Looking for general investment property strategy advice. I left a teaching career a year ago to be a full time investor and now looking at ways to grow the portfolio. I’m  middle aged with two young boys and a wife who is very supportive and currently working full time but wants to take a step back to part time. 

Current assets are- 

-Primary residence holding 300k equity. 
-One LTR has a HELOC of 135k available and rent is 1750 a month.
-One STR with 80k mortgage and generated 25k gross last year.
-One flip (possible hold) in progress using LTR Heloc for the financing. Will asses when completed in 8 weeks on which direction to go. Speculative growth in that area may lead to holding for a little while. 

We decided to cash out on our primary and we are under contract to sell end of month  ( still could back out) which will net 307k. We have given our tenant notice we will be moving back to the LTR which was once our primary 5 years ago.    

Our current plan is to take the the proceeds and funnel those into more investments . Looking at higher end STR.

Thoughts opinions are welcome here. Thanks! 

Hey y’all! 
A student rental in a really old house 3 hours away with a bunch of people in it would make me pretty nervous especially with the margins you are hoping for. But to each their own. 
If you have not already gotten a contractor to quote the flooding issue I would do that and present the costs to the seller. 

If they won’t reduce the price because of the repairs then I would walk and wait for them to call back when they are ready to sell. 

Hey all! I’m an experienced investor who is considering a partnership with another investor to manage a flip he is doing. I will also probably do some of the labor when appropriate. 

What partnership structure ideas are common or have you seen serving as a project manager on house flips. Thanks