All Forum Posts by: Nick Troutman

Your best bet is to start with David Greene's book "Investing in Long Distance Real Estate". It is a great starting platform that explains everything. I have been following the advice from the book and have purchased 6 units out of state without even seeing any of these properties in person. The book's value is worth way more than the $20 it costs. 

I am not in the MHP world, though I do have several small multi family. If you want MHP I would look up all the podcasts about them. Brandon Turner is all in on MHP's and talks a lot about them on the podcast. You can also invest with him on his deals with his syndication Open Door Capital. 

Otherwise is you still want small multifamily I would look at markets outside of your immediate city or state, and look up David Greenes book on Long distance Real Estate investing. That is what I did. I started out of state and with a property manager and it has been going great. 

@Scott Meyers That helps a ton for sure. I will start with that. Thanks so much. 

@Rebecca Jensen thanks so much. I'd love to talk with you. 

Eco Landing does a great job for my rentals in Columbus GA

@Jaysen Medhurst Thanks so much! I would love to take you up on that for a second set of eyes to see if I'm missing anything. 

@Ronak Shah Thanks for your advice. I'll do some digging into the content of these guys. 

@Ronak Shah I am just starting in the world of self storage. I currently own a couple smaller multifamily units and I would like to add self storage to my portfolio. Right now I am trying to figure out how to find my first deal in self storage and I have been having a harder time finding them in markets that I would like to be in. I am not sure if I am looking in the right places, or if I have to open up to nation wide market for self storage? I would love any help and pointers along my self storage journey. Any other books, podcasts, programs etc to help learn the ropes would also be much appreciated. Thank you for your help and time. 

So I am quite interested in buying my first sect storage units. What are the best steps? Is it like SFH, you first find a market, then a team and then a deal?

I’m having a hard time finding any self storages for sale yet alone in a market I like. Am I just looking in the wrong places? Where should I look online?

As for building out a team, can you do Self Storage out of state the same as SFH? Is the list of team the same or are there team members in Self Storage that I would need that differ from SFH or small multi family?

Thanks for all the help BP community.

Nick

@Jaysen Medhurst I totally agree that when things seem too good to be true, they usually are. Though at the same point, I feel like I'd be kicking myself if I let go of an epic opportunity just because I that it was too good to be true. As for the owner, he thinks that local lenders wont lend being it is an older unit in a more run down part of town. 

I actually had a couple calls yesterday with some lenders and it sounds like there is a chance they will finance it. So, like you said, it may have just been that he had hard time with financing, or maybe he didn't even try? 

Either way, I will chase down the lead to see where it ends up. It could still be too good to be true, but I'm not going to just roll over and let this go until I find out for myself. 

Thanks,

Nick