Quote from @Preston Dean: Quote from @Michael Ewers: Quote from @Preston Dean: Hi @Michael EwersI have had a few past clients from Cali call me saying "I sent post cards to home sellers and I have someone who wants to sell, can you help me with pictures and videos" I think their method was just mass mail and they got a few hits.

Loan to value ratio: The higher the loan to value ratio (LTV) is, pricing takes a hit.

Lastly, the price point is still very cheap here in the sense that you can still find investment deals that hit the 1% rule for 120-180k!

If you can manage to keep up with the real estate market in these markets that we have come to hit, and still be able to navigate the unchartered waters.

Start by leveraging your skills to identify undervalued properties, perform cost-efficient renovations, and build sweat equity.

However if you have enough reserves, 6mo or greater then I'd say chance it but a couple of missed payments from the tenants and you have to foot the payments out of your own pocket.I'm all for taking risks but I think you really need to evaluate the age of the major systems so you don't get hit with a bunch of cap ex all at once as well as your reserves. 

@Luke Spencer I am not on the management side but I can tell you it took 2+ years to fill 300 units at one of our facilities and the other just hit 300 units in 12/13 months so it really depends on the demographics, and local housing market trend, the more people moving in and out the higher the demand for storage.I think if you're looking at a saturated market then the upfront cash to turn the warehouse into self storage is not a good idea but then again, maybe those operators are on back roads ( low visibility ) and don't push google ads well.

I will tell you he did a great job because very little interior re-work was required - but it was a substantial hit to the Reno budget!

Check out REITactical and hit me up.

Home sales hit their lowest level in almost 30 years, so it's not unusual to see a property sitting on the market for many months.