All Forum Posts by: Adam Lacey

@Nicolai Grebencio

I would definitely partner with an experienced operator for your first one. My suggestion would be to learn everything you can about the self-storage space and network like crazy. Try to figure out a way you can provide value to an experienced investor and take down a deal with him or her. Definitely very doable.

Best of luck to you.

@Charit N. I'll also add @Lee Yoder and John Casmon to the list.

@Jaylen Reed Here is one way to do a quick analysis to see if a property is worth doing a deeper analysis on. Figure out the potential income, assume 50% for expenses, divide the NOI by the market cap rate (look at reports and talk to brokers and other investors to get this) to get an estimated purchase price. If the asking price is close, dive into the numbers more. And always request the actual rent roll and T12 (trailing 12 month P&L) if you decide to dive in. Never trust a broker OM! I reviewed one the other day and realized that the broker was using 11 months of expenses instead of 12.

Hi @Jaylen Reed! Welcome to BP. I love your outlook and aspirations. Good luck to you.

Any recommendations for a great electrician in Louisville, KY? I'm looking for a cost estimate to rewire a 100+ unit apartment complex (multiple buildings).

Thanks in advance!

Thank you @Timothy Young.

If you use the search function to search for his program, there are a few threads with a lot of feedback that fall on both sides of the fence. I personally have no experience working with him or his team, but his youtube videos are helpful.

@Jeffrey Donis one piece of advice...don't wait until you have a deal in hand to start raising capital. Start networking and reaching out to potential investors as soon as you are familiar enough with how deals are structured to start planting the seed. Most people will need time to get to know you and and how you plan to structure your deals before pulling the trigger.

@Jobin V. I did a lot of networking to find experienced investors that I wanted to work with and then found a way to add some value (capital raising and asset management).

Message me if you want to chat.