All Forum Posts by: Thomas Jackson

Well I realize that, just wondering what you specialize in... off market deals, wholesaling.... etc. I’m always looking for flip opportunities. 

Are you a wholesaler? 

@Bill Plymouth I would laugh at you and tell you to piss off........ lol sorry for the blunt-ness!

But, higher commission for what? The real estate game has changed and commissions are going in the opposite direct. 10-20 years ago realtors did a lot more work than they do today... and most of that has come with the advances in technology. Which is all fine! I'm all for working less and making more! But buyers/sellers are also becoming aware of this and of the new ways to buy/sell homes.... (Zillow offers, FSBO..... etc) and me personally I'm not even paying 3% to my agents. I've worked a deal with my local agent for 1.9%. It's hard for me to justify anything more to someone that hasn't put the work into a property (mostly flips) to get a higher pay day.

I’m curious to know what the city Thinks about this idea? Quiet the eye sore if you ask me, I guess in some areas of the country it’s probably not a big problem, but I’m sure some municipalities will have a problem with this. 

Are you going 1 level or multiple?

The Midwest is “always” good to invest in as long as you invest in the right areas and have a good team in place. Parts of Cleveland can be fantastic and some can be a nightmare. You obviously pay more for class b or a type properties or locations, but the rents are high and the cash flow is even higher. Some areas near downtown Cleveland are on average more $$$$ than San Diego...... crazy right? We also stick near the universities and rent to college students.....no evictions, parents are usually paying the rent and cash flow is unbelievable. 

We used First National on our current storage facility that is being built for around 1mil..... which is a local bank to us but, it’s not a small credit union or anything. In my opinion it doesn’t matter what bank you use, if you present the right proposal, banks will throw money at you. Should be able to negotiate the interest rate between multi banks but sometimes with the larger projects it’s a lot of leg work to get multi banks involved. 

And @Michael Wagner for whatever reason the SBA denied our loan for storage.... if I remember it was because they didn’t offer loans for that type of business.....

With that much equity/cash you could 10x your cash flow in the Midwest in the right areas. But being an out of state investor is tough..... unless you have the perfect PM and contractors. I happen to have both and I’m very lucky to be able to invest OOS with no worries at all. My two brothers are contractors in Ohio and I can pretty much invest passively OOS. Good luck with whatever you decide!! 

It’s more than worth a closer look, if you aren’t investing in self storage you are already LATE! In my opinion the best hands down Real estate investment you can make. 

I’d be interested to see what you have, are these turnkey or distressed properties? 

@Shawn Green my father and I had the same thought about a year ago. I analyzed the market and found the need for storage in our local market. (Medina, OH) I did research on all of the local storage facilities, called them all the time to see what their vacancies were and how they just generally operated. Present day we are in the middle of construction of a 37,800 sqft facility. I’ve been posting updates on my profile if you’d like to follow along. Or feel free to reach out to chat more about it.