All Forum Posts by: Steven Segal

@Brandon Monaghan get into anything from this?

A bit more to it than that, but it would be a five page essay. This makes it seem like title companies have no liability which at least in Florida, is untrue (https://www.floridabar.org/the...). Settled with title co and they paid over half of the $. The issue came about after I built one of the homes and went to sell it (called out as exception on that commitment but not mine). They found the language that ran with the land at that time and required satisfaction which they didn't before. They denied my claim, I sued, and we settled. An attorney on the front end would have been cheaper than the backend. My overall point is easier and cheaper to do on front end than backend. 

There are people who do it. To a hands on investor and in the right setup, I think it could do well. However:

If you finance, rate is usually higher. 

Lot rent can change (unless you setup a gravy agreement with the park owner)

Dodd-Frank is real. However, everyone is still financing trailers to end users (which I find crazy). At my parks, we use rent credit. 

On the flip side, prices of used homes has gone up in recent years due to demand. There was an article about a year ago about how manufactured homes were actually appreciating. 

I spent three years of my life on something similar. Is the covenant something that doesn't allow something that you want to do? I spent >$100,000 dealing with a covenant, and my lesson was to not trust a title company. I hire an attorney every time I close anything now. The title insurance company will do whatever they can to not pay you (google how much of premiums are commission and how much are actually paid out). 

Awesome stuff. Have you confirmed zoning? how much storage you could build? ran pro forma?

Awesome stuff. 

Congrats! It's a great business and scalable. There are definitely more levers than with apartments or SFH. It sounds like you used several of them...

We are looking for an intern (paid) for out storage portfolio. We recently purchased three additional facilities and are looking for help getting them up and running. We purchase facilities from ma and pa owners generally. There is inconsistent information and incomplete/no leases on some tenants. The goal is to have everyone on the lease for various reasons (you'll learn along the way). There is the possibility for this to become more work in the future. We have 10+ facilities currently and hope to continue to expand. While there are parts of this that will not be super fun, we will teach you the ropes along the way while you will have the opportunity to build experience with operations (we've seen many good deals go bad from bad ops). This is a part-time internship with a flexible schedule. 

Responsibilities include:

- Reviewing leases from old ownership

- Reaching out to tenants for signatures of new leases

- Correspond with onsite manager for inconsistent information

- Instruct onsite manager on weekly tasks to tie up loose ends with tenants

- Create how to videos for onsite managers to improve operations and onboarding of new properties,managers

There is a map on the city website that shows the zones and I believe tells when it will happen.

I manage a portfolio and we are starting to sell some stuff in the Cape. If interested, I could send you a list and could prob get you a no realtor involved deal. Let me know. 

The Cape is growing and has a lot going for it. I lived there for five years and still do part time. 

Marea Capital is a smaller real estate investment company focusing on self storage. We began purchasing and managing storage facilities in 2016. In the last year, we have purchased six facilities and are looking to rapidly expand. We are looking to fill the role of acquisitions associate.

The role consists of:

- Creating database of facilities and owners and keep up database within the CRM
- Cold Calling facility owner’s
- Send physical mailers (through online store) and setup email campaigns/routine follow-ups
- Underwrite potential deals and check local competition
- Send contracts on potential acquisitions

Requirements:

- Experience in real estate is a plus. We don’t believe it to be mandatory. If you have an interest in real estate and a willingness to learn, we don’t mind providing this education. Afterall, we had to learn it as well.
- Proficient in excel and Microsoft Office
- Willingness to cold call (and talk to people who aren’t always excited that you are calling)
- Strong organization skills

Whether we are hiring someone part time, contract, or full-time, we love to work with people we enjoy working with and talking to. We want people who want to grow professionally and personally and see something like this as a stepping stone. Our goal since inception has been to create something that allows us a strong work/life balance, and we like people who seek the same.

Pay is flexible and open to equity in deals and bonuses on deals sourced.