I will be more then happy to share my experience since purchasing the property in 2019.Anyone here currently investing in areas outside of SFH/Multi's such as mixed-use & storage b facilities?

I'm working on another private loan now on a self-storage opportunity partnering my Roth IRA and HSA.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.- Additionally, you can track income and expenses consistently using software or spreadsheets.If you track everything, you could show a loss and use that to offset other earned income (such as a W2) which will net you a bigger refund.

And don’t hesitate to tap into local investor groups or meetups; you’ll pick up tons of wisdom from folks who’ve been in your shoes.

Other ways of using SDIRAs could be to invest in syndications, performing  or non-performing debt, precious metals, raw land, precious metals, mobile home parks, self-storage facilities and more. 

To give you an idea of how we approach it, we assume the worst-case scenario right from the start is 9-12 months of no rent, $5,000 in legal fees, and an additional $5,000 in expenses to deal with moving their stuff, putting it in storage, and dealing with health code violations or NOV's from the city during the process. 

I have been thinking small office or retail (which I have experience in); larger multi family (10-20 unit), RV Storage, and have even thought about beach front hotel, or at least ocean view hotel.

This will likely be the smallest aspect of the company but seems like a sensible value add to the other aspects of the company, since we will have a storage unit with furniture/furnishings ready to go-Photographing properties for FSBO listings, or for clients we get for the furnishing/management side of the biz.

I wanted to share the numbers and want to make sense if it's a good deal for us according to what we are looking for.Price: $450k (agent said that we can get it down to $420k)2 Units (1 bedroom in each unit)Mortgage with 3 year fixed comes up to around $2.3kInsurance and tax is roughly $400Rent per unit is $1.4k so if we move out then total rent comes up to $2.8kThere's a detached ADU (garage) that can give us another $100-$150 if we rent it for storage and there's a scope of converting it into another unit later on.So currently rough calculation says that it can cashflow up to $300 per month.

Although we could continue to add to our Self Storage investments in the US.