All Forum Posts by: Theodore Jackson

 Hello, guys, I'm looking to purchase a mixed-use property. Can I use an FHA 203K loan and what are the guidelines that will have to be met? I do know it has to be my primary residence.

 Hello  hello Sergio I strongly believe that you can only use the 203K for four units and below. Anything above 4 unit is  commercials.

Thanks, Guys.

Hello, Guys am currently looking for financial lenders that will assist me with a turnkey property here in the Midway Area of Chicago. 6 flat with three Garden Apartments in basement California style apartment building The owner is asking for 350,000 off-market about ARV 400,00 I'm looking to hold the property I have about 30,000 cash right now. The owner owes the bank about $260,000 and the processes need to be split between husband and wife that's divorcing soon.

can anyone do this deal?

Total Annual Expenses. $16,176

Total monthly. Income. $6500

More info [email protected]

Thanks, Tim!

That was an amazing story, I need help making a decision, this would be my first self-storage. I am looking for an existing facility. I'm not sure if it a good Deal. should I apply for an SBA loan or conventional? I have about 40k line of credit.

     ASKING 389.000                                  2016                      proforma

There are saying in 2017 is was about 46,500

1. Acres

Rentable 13,640 S/f

80 unit 90% Occupancy

8.5% cap

10.0% Cap Pro-forma

Thanks in advance         

Does anyone have experience with purchasing storage facilities? I am looking for an existing facility. I'm not sure if it a good Deal. should I apply for an SBA loan or conventional?

                                                           2016             proforma

 ASKING 389.000  

There are saying in 2017 is was about 46,500

1. Acres  

Rentable  13,640  S/f 

80 unit 90% Occupancy     

8.5% cap

10.0% Cap pro-forma   

Thanks!

 The owners are responsible for the water bill,unless you have a written agreement that they will pay for it .especially if they bring in a washer,  in some cases you may have a leak in the toilet  and Fossett  that's running or dripping and that adds up .