All Forum Posts by: Henry Clark

Forgot.   The project above was done 3 years ago.   Even at 8% interest today  I would do the deal above.  

I’ve talked with BP people all over the US.   There isn’t a market I wouldn’t build in today.  Some are better than others.  Point- the market is great today.  There are way too many deals to do.  

Start small and Make Your Big Mistakes Early.  

AI- someone please AI if interest rates are to high for REI. Want to see if we screwed up doing the deal above.

Forgot.   The project above was done 3 years ago.   Even at 8% interest today  I would do the deal above.  

I’ve talked with BP people all over the US.   There isn’t a market I wouldn’t build in today.  Some are better than others.  Point- the market is great today.  There are way too many deals to do.  

Start small and Make Your Big Mistakes Early.  

Forgot.  What is the Cash on Cash return above in 13 months?  

AI. Why does Octoberfest start in September?

My brother is killing me.  He is at the Hofbrau House in Munich having a Stein of beer with a pig knuckle.  Actually we were there last year.  That was the only reason I wanted to go.  My wife being of German heritage we went to Octoberfest. Plus later we went back for their Xmas Market.  
He is working as Civil Service overseas.   Him and his wife are having a great time because they have a lot of extra cash.  

Back to real estate.  

He finally got into a position to do self storage so he asked me to help.  $310,000 down.  Sold 13 months later making $850,000 Longterm capital gain plus he got his downpayment back.  

AI.   I don’t know how to use AI and don’t want to know.   Could one of you AI how to make $850,000 in Self storage in 13 months?  I have a BP post on this project.   But would like to see  if I have been AI’d out of existence.   Thank you.  

I’ve only watched 4 podcasts ever in the last year.  I wasn’t thrilled except for one.  Are the podcasts as interesting as the above?  Let me know which ones to watch.  Thanks.  

Keep hearing about the 1% rule in housing which we don’t do.  But we just completed a 2nd phase at one of our locations and it hits the 2% rule.   I made that up.

We rent for $65.   All in cost on this second phase addition is around $3,200 to $3,400.  The second phase of drive up storage is always the highest profit and least risk.  

Contractors just finished setting the last of our 50 new conexes or cargo containers.  Already rented 8 in the last 3 months.  Going good so far.   Normally we only buy 14 at a time but the prices are real low.   Plus most are produced in China and I am Thinking that market May close for the U.S.

Rent for $65 per month.  All in cost around $3,200.  Think that beats the 1% rule.   Now we sit back and let them fill up.  

Next stage is to put some lights and extra security cameras in those units. 

OP.  Let’s look at both sides of the AI topic.  I do t use any of it.  But……..   Recommend BP makes an AI section.  And monetize.  

1.  List of all people who died in town CXXXC and in the GIS property tax system there is a new owner in the last year.

2.    Bankruptcy filings in town XXXXX in the last 12 months.
3.   Same divorce filings.     
4.  Consistentlyblate property tax payments.  
5.  Elementary School closings.

6.  Church closings

7.  Daycare closings

etc etc.

I think it’s a buyers market.  Just need to find the situations. 

OP.   Looks like you’re in the DFW area and are a lender.  We primarily do Selfstorage and RV/Boat parking.  What type of distressed properties do you have in the industrial sector that is more land than building?   Example lay down yards.  

OP.   Looks like you’re mainly in STRs.  If you’re interested in Commercial I can get you started down the path.  But you will need to narrow down to a specific field in Commercial.  Just say GO and I’ll get you started.