All Forum Posts by: Thomas Jackson

All of San Diego is expensive, but you’re living in the best place in the world! 

@Trent Stone buy low, sell high!

@Michael Wagner I should re-phrase to say “less overhead” in RV Storage/Boat storage. But also less cost per sqft. So it’s all relevant in some way. The reason my dad and I started the XL storage was primarily because it was less overhead and thus less headaches. Totally get what you are saying in that with the right systems in place, it’s always passive.

Remember there are two types of self storage....... your standard self storage facility with small units ranging from 20 sf to 200 sf with a staff on site and possibly a supply store or rental service attached, location specific.....and then you have your XL storage (RV, Boat, Business storage) which are units ranging from 600 sf to 1,500 or more.... no staff, no store, and total different target market. Storage is awesome, but my opinion the XL storage is way more passive and less of a business. Good luck! 

@Curtis Mears definitely just a lack of oversight on your behalf but nonetheless a lesson learned. Technically since you probably don’t have a contract, you could get away with not paying him at all or at least try to negotiate with him a fair price. A good contractor would never do this, they would provide a quote with line items for “extras” and even estimated costs for those. Always get a contract signed that you agree upon and you’ll be in the clear!

Do you finance in Ohio?

@Jamar Lockwood my brother is a contractor in northeast Ohio that specializes in flips. If you are looking for someone that can handle the entire flip, he is your guy. His company name is Jackson Remodeling & Design. I’ll pm you his contact info. 

@Andrew Davidson I would disagree with that, definitely do the due diligence before... that way you can’t get burnt. Even though deposits are only $5,000-10,000 it could still be a lot to lose if you need to back out of the deal. Easy to do a title search before and not have to worry about it later.

Yeah this is where we had the information a little misconstrued. People that are renters of the property vs the original owners. Much different outcomes, but nonetheless no information is bad information! 

Thanks for the Clarification @Ron S.

Thanks for the info, so what happens to the occupant if they are the ones who were foreclosed on? Which is probably the case most of the time..... same process?