All Forum Posts by: Wes Eaves

I own the property I'm selling in my sole member LLC. I'd like to be able to use these 1031 funds and partner/joint-venture/whatever work to satisfy the 1031 requirements, with a business partner of mine.

Can I 1031 my LLC's ownership into a joint venture, created with my LLC and my friends company, in order to buy a self-storage facility? I imagine the JV would only state what we agree to do as a partnership, however, the deed would say both LLC companies as 50% tenants in common ownership.

That's just one of our ideas so the 1031 would be exchanging into another property (not an interest in a JV or LLC). Perhaps there is something that's better though? This also needs to pass lender guidelines.

@Michael Wagner do you ever follow up with a call to the direct mail that doesn't come back as undeliverable or have you found that you have better luck if they reach out to you?

I liked the cold call on one of your videos that you did.  I thought it was a great way to connect and build rapport.  Even if someone wasn't interested in selling now, they would probably remember you and keep your info when they were ready.

@Zach Quick - thanks for the info.  I'm definitely going to start that, as that seems to be the best strategy to find great deals.  Do you typically buy a list to reach out to?

I've also reached out to a few brokers, as I'm finding that they often know about off market facilities too.  I read in a post by @Faith Hill that she purchased one through a broker.

With the 1031 exchange I'm trying to do, time is a bit of the essence, as I'm thinking the direct to owner approach typically takes longer.  I could be wrong, as I've never tried that route.

@Zach Quick...wow...6 facilities and more to come...that is impressive.

What is your strategy for finding facilities to purchase?

Thanks @Dave Foster

Thanks @Steven Lowe

Thanks @Benjamin Burket.  I just stumbled upon that group last night.

Hello all. I've been investing in SFR rentals for the past 8 years and looking at other options. In order to take the leap and commit to taking action, I decided to sell one of my SFR in order to 1031 exchange it into a Self Storage facility.

I have a business partner that has done a number of commercial transactions and investing.  

One of the things we've noticed is that calling on Commercial Brokers hasn't been that fruitful as 75% of the properties that are showing available aren't anymore.

With this being our first self storage facility purchase, I wanted to see what kind of feedback I could get on making this a reality.

Thanks in advance.

Interesting read and perspecive about Self Storage.  It's something that has been very intriguing to me and now I'm looking to buy my first one.

@Faith Hill...a couple of the ones my business partner and I were looking at were in SC.  I'm glad to hear that your first one went well that you're looking to buy another one.

That is very encouraging.

Couldn't agree more with this!!