All Forum Posts by: Adam Pakes

@Wes Eaves thank you for the reply!

@Taylor L.

Thank you for that feedback. When we develop a complex, we are highly focused on IRR. We want to make sure the development risk is in line with the return. Our time to complete a finished product is about 6 months, once permits are issued.

Specific to the sales process of individual unit sales, what metric, other than Cap Rate, would you recommend we use to show the merits of the investment?

@Brian Eastman 

Noted.  Thank you.

@Dennis Tierney @Taylor L. @Account Closed

Thank you for the comments.  I joined bigger pockets to gain perspective from active investors, not institutions, on their strategy(s) and what asset classes you all look for (and the returns associated).

I need your honest feedback.  This isn't a solicitation to buy, rather I an seeking unbiased opinions on what I am currently working on.  Please be honest with your feedback...

I am a co-founder in a company LuxeLocker. We specialize in building Boat & RV storage and currently have 5 projects in progress. What separates' Luxe from others, is we create a commercial condo association and sell the individual storage units. Our buyers are owner occupants (people who store their personal belongings (Boat, RV, classic cars, etc)) or investors looking to rent the unit(s) to tenants. Based on purchase price, the NOI is between 5.5-6.25% per annum.

As most of you know about rentals, there is maintenance, tenant concerns, etc that landlords address frequently.  With owning storage, it provides a value proposition to the owner because a tenant, who doesn't pay, will not have gate access to their facility.  In the event they get through the gate, the Automatic garage door will not open until their account is brought current.  There isn't a lot to damage on a storage unit either.  It consists of steel beams and aluminum siding.

That all said, does that yield coincide with the risk profile of owning individual storage unit(s), whether held personally or in SDIRA?

Thanks

@Dennis Tierney @Taylor L. @Chris Schlechta @Lee Ripma @Brad Shepherd @Brian Eastman 

I appreciate all the feedback so far.  Keep it coming.  When you folks refer to syndications, are you syndicating yourself or are you part of a bigger group that informs you of the syndication?

@Dennis Tierney thank you.  

When you invest in RE through an IRA, do you need to pay cash or can you use funds from said IRA as well as bank financing?

This question is specific to all Self-Directed IRA investors. What types of assets do you hold in your portfolio?

What type of returns, as a function of NOI, are you folks seeking?

Luxelocker is the first national brand to develop Condominium Boat & RV Storage. We currently have 5 locations that are in development, Lake Havasu City AZ, Henderson NV, Reno NV, Boise ID, Richland WA.

About 50% of our buyers are investors looking to own rental property for cash flow. Owning a Luxelocker is a great way to experience cash flow with minimal vacancies, damage, and eviction. Through our proprietary software, we deliver to the owner and tenant a phone based app that manages, collects, and disburses rents to the investor, while giving gate and door access to the tenant.

This asset class is a qualified investment under a Self-Directed IRA. We understand the mechanics of a Self-Directed IRA and our team is fully equipped to assist you in your purchase under an IRA.

For more information, please visit our website at www.luxelocker.com or call 833-333-LUXE.