All Forum Posts by: Mark Yuschak

To take this thread to the next level: what is the proper way to assess a value on a storage facility?

I just closed on a SS two days ago for my clients... After having gone through it I can definitely say it can be done without an agent. You simply have to follow the procedures as set forth by the lender (seller).

Yes, you will need to know what to accurately offer. I would engage with a Realtor simply as a mean to determine what the market is doing for closed properties and active homes that match the criteria of the home you're trying to buy. If you prefer not to do that, you could order a "drive by" appraisal from a local appraiser.

Ultimately it's all up to the bank to accept or deny the offer. Typically they'll order a BPO or a full appraisal.

I'm just like the others here.... We bought our first property five years ago and rehabbed it, rented it for 11 months, then resold it. Paid only 15% on the very little bit of reported capital gains. From there the ball was rolling! Since we do have full time jobs it was a little easier to cover the incedentials.

Now that BP is a resource to me and I've been looking at the right way to buy rentals, I wouldn't say anything we bought was a stellar deal or excellent cash flow endeveour. But we had to start somewhere. I'm now smarter because of all of it.

I've never wholesaled a property and to be quite frank, I'm still not exactly sure what's involved in wholesaling. I guess I'm old fashioned and prefer to build wealth through the cash flow model which rentals offer.

Owning a storage facility is one of my dreams. I found a couple in my area which were for sale, but never proceeded since I didn't have a formula which seemed to accurately indicate cash flows, costs, etc.

I'm still very interested in becoming an owner, however.

I'd definitely be interested in being a stakeholder.

FYI, the header link on the donate page is broken.

Above and beyond the fraud, neither of these properties are stellar cash flow entities....

Easy come, easy go. Get rid of that looser!

I'm with Summerhomes...I don't put my picture on anything. IMO, it's really lame.

Welcome, neighbor!

Have you considered looking at the assessor's records to see who's paying the taxes? It's very easy to access that info on the city of Flint's website. I do it all the time.