All Forum Posts by: Ralph C.

Hello, all. I just sent my 3rd round of direct mail postcards and got a call from someone who has land, perhaps several parcels (he was a bit vague). It is in a nice neighborhood in Hiram, GA and I don't know what to do with it. Neither he nor I have named a price. Does anyone have any suggestions as to what to do? I would love to partner with someone who knows more about this. Thank you!

Here is a marketing strategy that has worked for us for some time now.   I've joined the memberships of the self storage members in particular states that I want to own them or that are popular.  Usually this involves getting a list of their members.     Twice a month, I send an email out to these lists looking for people who want to sell or get out of the self storage business.   I will send this email out on the 1st and the 15th (and the 3rd and the 18th a second time to those that didn't open the email the first time) and usually, once a month, I will get 1-2 leads of owner operators who want to get out of the business.  If I can negotiate with the seller to take over the debt or terms for a master lease or subject to deal, great!  Otherwise, if they are behind, I approach the bank to buy the debt and several times I've gotten the bank to re-finance the debt to me at better terms.   This usually gives me a quick upside in profits and I can either hold the asset or move it to someone else for a nice profit.  Often times, these are smaller self storage units, non climate controlled, but they still make great deals.  I don't use Loopnet or anything that is listed because its often dead wood of a deal.   I will use Loopnet to find properties, and then find out who the lender is and then contact the banks to buy the debt.

Another way of finding these deals is using Laneguide to track down self storage lenders and Scotsman guide on the commercial side to find lenders making loans on self storage units.  Often times they will have defaulted debt on units that I can purchase and take over the asset.

Thanks for the input @ramonahall

If I'm looking into this correctly your talking about something like a duplex correct? I also saw something about owner occupied vs non owner occupied. Aside from the benifit of having your own place and not renting some where etc, financially what other benefits are there to owner occupied. I only ask because I am looking to invest but still remain where I work. My company gives me an apartment rent free. In regards to the credit score I've been working on it for some time now, up about 90 points. I am looking into investing with my fiance. Would that make better sense? Her credit score is in the mid 700's

Hello Everyone 

Im new to real estate investing an wanted to know if it was a good idea to get a real estate license.  Also what are the pro&cons of have them as an investor?