All Forum Posts by: Trevor Oldham

For me, it's being able to have the option to retire early!

A score of 670 is a good start, but there are definitely ways to boost it even higher.

One thing you could try is requesting a credit limit increase on your current credit card. If you've been consistently making your payments on time and not using your full credit limit, your credit card issuer may be willing to increase your limit, which can lower your credit utilization rate and improve your credit score.

Another strategy is to apply for another credit card, but be sure to do your research and find one with a lower interest rate and no annual fees. Having multiple lines of credit in good standing can also improve your credit utilization ratio and overall credit history.

Whether to choose on-market or off-market properties really depends on the individual investor's strategy and goals. As you mentioned, off-market properties can often be obtained at a deeper discount, making them more attractive to investors who are looking to maximize their returns.

However, on-market properties can also be a good option, especially for investors who are just starting out or looking for a less risky investment. While the initial cost may be higher, on-market properties may be in better condition or in more desirable locations, making them easier to sell for a profit.

Best of luck with your flipping endeavors!

One option is to work with a commercial real estate agent who has experience in the self-storage market. They can help you locate potential properties and negotiate deals on your behalf. Another option is to search online platforms like LoopNet or CoStar, which list commercial real estate properties for sale.

Networking with other investors or attending industry events can also be a great way to find potential deals and learn more about the market. And of course, don't forget about the power of word of mouth - let friends and family know that you're looking for a self-storage facility and they may be able to connect you with someone who is selling.

Good luck with your search and I hope you find the perfect self-storage facility deal soon!

You should consider all the different factors that will impact profitability, such as the cost of the space, renovation costs, utilities, taxes, and insurance. Once you have a handle on these expenses, you can start estimating your income potential based on rental income, property appreciation, and other revenue streams!

It's important to approach this transaction with caution and thorough research, especially when it comes to structuring the deal!

It may be beneficial to consult with a real estate attorney and/or a financial advisor to help guide you through the process and ensure that all parties involved are protected. They can help you navigate any legal or financial complexities that may arise and provide you with valuable insights on how to structure the deal in a way that works best for you and your family.

Additionally, make sure to do your due diligence and research the property thoroughly, including any zoning or environmental issues that could potentially impact the deal. Don't rush into anything without carefully considering all the facts and consulting with trusted professionals.

There are several websites and platforms that you can use to market your rental property by the room. I recommend checking out Roommates.com, SpareRoom.com, and Roomster.com.

I would recommend consulting with a reputable lender and discussing your options. A cash-out refinance with a non-DSCR loan may be possible, but it ultimately depends on your specific financial situation and the lender's criteria. It's important to weigh the potential benefits and risks before making a decision. Good luck!

I'd recommend checking out Gene Trowbridge: https://trowbridgelawgroup.com...

Hey @Spencer Sutton! I have a few great folks who would make great podcast guests! Let me know if you'd like me to shoot you a message.