All Forum Posts by: KC Zhang

@Ray Harrell

Sorry for late response... my rental is currently rented by a voucher holder, single parent w teenager kid, so far so good, tenant has been late for rent but caught up afterwards.

@Jayson Cruse you can also try searching listings on https://www.listselfstorage.com/. I have seen some good ones, but they were gone within few days. Good luck! 

@Wendy Carpenter Thanks for the information. Good luck with stabilize this facility!

@Justin Schmidt 

I started a marketing campaign to small apartment buildings few weeks ago with decent hit rate. Purchased the list from listsource, criteria are high equity (>30%), long time ownership (owned more than 5 years), no more than 50 units. I got few calls from the 271 post cards. One gentleman wanted to sell his vacant building with 10 year back taxes. I wondered why it had not be sold at county tax sale?  Two more owners wanted to sell their 2 flat and 4 flat. Both in D area, so I passed. Overall, first mailing is not too bad. I'm in the process of updating the list and send another round of letters pretty soon. Hope this helps. 

FYI... There are similar threads in this forum and you can easily find them with a quick search. 

@Wendy Carpenter Congrats on your deal. Did you source the deal directly through marketing, if you don't mind. 

I have looking at SS listings and started looking at deals within my target price range. So far, most them have not so good cash on cash return, not even as good as my SFR rental units. I guess the good deals never get on the open market.

I have a rental in Pullman area, zip code 60628, , 3br, 2ba SFR, not the best area and I don't expect much appreciation, but cash flow is good, voucher rate is about $1200. The best part is after refi, I have no money in the deal and still get positive cash in my pocket each month.

@Account Closed 

Best approach is to get an estimate for retrofitting central AC from your contractors and decide if return justify the investment. 

If you decide to keep the window AC.... for my rentals with window AC, I always ask tenant buy the units and have my handyman install them properly. 

Another option is to replace window AC with ductless AC.      

@Aleks Gifford sounds like a good business. I once visited a RV storage lot that had few containers. I was buying some equipment from a guy who rented a container... he packed it really well with all his stuff and he had rented for a long time.  

@Craig Garrow containers are personal properties.. they should not be treated as property. 

@Ashley Pimsner thanks for your information. I check fund & grow, looks like a good place to get line of credit if you are willing to pay the 4k fee. 

I will let you know if I have any luck with local banks.  

I'm looking for information on how to get line of credit to purchase rental properties. My plan is to use line of credit for purchase, use my own money rehab, lease it out and refinance use conventional mortgage. I tried one of big banks, but they require $100k annual revenue. Next I will try small local banks in my area. Would love to hear your experience.