I don’t know your specifics but if I were in your shoes I’d be patient.

But I was figuring I can make that a big storage facility after doing some construction.

In my case, I have residential rentals in one LLC, commercial properties in another, self storage in a third, and my real estate company operates in a fourth.

So we went into the commercial space and pivoted to self-storage.

Ample room inside and out for not only your vehicles but also for a workshop, storage, home gym, perfect for car enthusiasts, business owners or hobbyist.

The requirements are VERY specific by statute, but if done right, the lender steps into the shoes of the taxing authorities. 

If I want to get into self-storage, how do I find potential sellers? 

That 2.7% rate is pretty special...If I were in your shoes, it would depend on what I could leverage that 200k into out of state.There is ample opportunity here in KC (my market...I work as a Realtor here and own 3 SFR as investments).

Try thinking of the situation in their shoes, why would you let Timothy have this house for free and keep the mortgage in your name?

I was in your shoes 4 years ago and took the leap into real estate investing.