All Forum Posts by: Sandra Andrews

I am interested in hearing from brokers and investors who buy and sell a lot of Self-Storage businesses on how Self-Storage is valued (i.e. is it on a multiple of cash flow like most other businesses, or is it based on cap rates) and what sort of valuations they are seeing in the market right now, understanding of course that there are differences across geographic markets.  I'm also wondering whether the real estate is valued separately from the business itself.  Thank you.

@Justin Phillips Hi - Are you able to share which lender you used for your first position HELOC. Thank you.

What I'm curious about is who are the people investing with people who have less than 10 deals under their belt.  Crazy if you ask me.

I think Bigger Pockets' misnamed the calculator.  It's not exactly a rehab "estimator".  It just adds up numbers that the user puts in it.  It's nice that it has the categories laid out, but the user has to do the hard work of finding the inputs.  When Brandon was talking about this new calculator, I envisioned punching in the city and the square footage of the house, punching in which items need to be replaced versus lightly rehabbed, and then the calculator would spit out a number that was in the ballpark of the rehab required.  I guess it was just wishful thinking on my part.

@Susan Tan  Congrats!  It sounds like you've been working hard on that first deal.  Where do you find the investors you plan to flip to?  By the way, did the pawn shop strategy pay off at all?

@Ryan Sweeney There are a couple of very good podcasts that have great content, including the Good Deeds Note Investing podcast, @David Putz  has a YouTube channel (I think you'll find it under JKP Holdings) and the Fusion Notes podcast.  Just note that these podcasts focus on bank-originated notes.  If you're more interested in buying notes that originated with seller financing, then there are other people that have podcasts that focus on those types of notes but I cannot personally speak to them. 

Great point, Chris.  I've also noticed plenty of people on Facebook who have very little experience spouting off advice.  Quite unnerving to think people may actually take advice from these people.

Buying mortgage notes is definitely more complicated than purchasing real estate. As a PP pointed out, there is no MLS for mortgage notes, although there are some online trading platforms such as paperstac.com. I would make sure you did as much reading as possible and also get some sort of education before making the jump. I don't think you need to spend thousands of dollars with a guru, but comfortable with the process of purchasing notes and the risks involved is really important.

@stan Matusz  Do you know whether IPX does smaller transactions?  i.e. Less than $2 million?

@Hai Loc  - Just to add to your post...If you want to purchase performing notes and be truly passive, I would purchase a partial.  The process of actually purchasing a performing note requires some knowledge of mortgage note investing.  In addition, performing notes sometimes have a way of becoming non-performing and these notes are definitely not passive investments.