All Forum Posts by: Sohrab Ansari

@Scott Krone @Henry Clark Thank you for the awesome feedback and input. The seller is back but wants close to $2.6 million. 

If it goes under contract, I will get help with due diligent and some other management help for sure. 

What percentage of tenants will get insurance? what would the increase revenue be on 343 from insurance? I see 4 add value components to this deal. 1. Adding insurance 2. Increase the rent 3. Increase economic occupancy (now its at 88%. Seem like an issue with collections) 4. Add additional units 

What you think about the add value component and how will this contribute? Should I not give any consideration when purchasing? Thanks

@Henry Clark Thank you! I did watch your videos. Love the system of onboarding. This property is about 50 miles away from me. I am learning and not certain about how I will manage it. I will before I close. Any book or Course you would recommend? 

I haven't heard back yet. The owner was out of state. I should hear something back soon about LOI

@Henry Clark

Thank you for some great insight. I appreciate the detailed reply. I will not share anymore much on open forum. I didn't think of SBA that is a great idea. 

You mentioned risk analysis. How can I do that or what do you mean by that?

Management fees - I took an arbitrary number. Don't have a management plan yet. 

98% occupancy. I called around the area and very limited availability. These units are below market rent by about $5-10/unit. Another big opportunity is to bring up the economic occupancy from 88% and to increase rent right away $5/unit. The average rent is $60/unit now. 

Thanks for the reply. Attached is the financial. The plan is to get a 3 year interest only loan. the down payment will be partly raised and part my savings (the cost is not in the spreadsheet). 

Please help me evaluate this Self Storage facility. This is my first one. I submitted an offer now having some doubts.

Self Storage Facility 343 units. NO office. It is being managed remotely or part time by the owner. It was built in 2000 on 5.5 Acre. It is 4 building totaling 35,100 Sqft of rentable space. 

1. Revenue = $233,000
2. NOI = $150,000
3. It is 98% occupied 
4. Economic occupancy is at 88%
5. Room for ~10% increase in rent
6. Asking Price 2.6 million 
7. I submitted LOI for $2,300,000

What do you think? at 2.3 mil will be over paying. Attached is 5 year conservative calc. If you were to buy this what would you offer? Thanks

I have 6 duplexes under contract. I am trying to finance them with little downpayment as possible. What my options? I can put 10-20% if I have to. If you know any lender that be great. I like to stay in Residential side.Thanks

Will the bank finance a short term to build? does it require 20-25% down of total project cost?

Thank you. I will get on it and get back.