New member from West Virginia

[Thomas Good]

Hello.

I recently found this site and was quite impressed with the content and knowledge of the various posters.

I've been a full time investor since 2008 focusing on single family rehabs / resells and multi use commercial properties in western WV and southeast OH. This year my company constructed a new self storage facility with UHaul rental center. My goals are to continue rehabbing 16 to 20 houses and acquire and / or build 1 to 2 self storage facilities a year.

I hope to gain insight from other investors on this site and provide feedback that may help others.

I'm currently searching for comprehensive seller lead tracking software that not only includes information about the seller and demographics on their homes but also all estimated rehab costs and past offer information. We've tried tracking on paper, excel, and started using property fixer IPad app to track estimated rehab costs, but these are not efficient tools for up to four people that are not centrally located.

Any help with pointing me in the right direction would be greatly appreciated. I rarely wholesale properties so I didn't consider using products like Freedomsoft.

Thank you

[Thomas Good]

Thank you for the responses. I will post my questions pertaining to software on the other forum.

Jon,

I prefer self storage over most other commercial property types for just some of the following reasons:

1. Lower break even point. On average the break even point for storage is between 60 to 65 percent occupancy while multi-family can be as high as 85 percent. This is especially important when building a new facility and considering how much reserves are needed.
2. Less headaches. No calls about leaking toilets or roofs, domestic disputes, appliances not working etc., which I have experienced with our family and retail business rentals.
3. Less management intensive. I spend about 3 hours a week monitoring the progress of our facilities including the progress of the newest facility. Even though our new facility has an onsite manager, we have a kiosk in place that can take new rentals and payments without ever needing to meet the new tenant.

These are just a few reasons why I like self storage.

Thank you