All Forum Posts by: Craig Garrow

Exactly! If you have any kind of system at all, it's low hanging fruit. I have a 4 week direct mail system, then I shoot for once a month after. Best of luck to you!

Absolutely! The trick with Expireds is everyone thinks everyone else is working them; they're not. I've been concentrating specifically on Expired Multi Family listings and it's worked really well. Especially since I offer Property Management as well!

That's very generous of you, Scott. Thanks! Would you happen to have a "cheat sheet" of sorts, so I could use that, and maybe pass it along to a client of mine? I ran all the numbers at 85% occupancy and it seems good!!

Thanks for this, Scott! In your 35% of gross for expenses, does that factor in Management, Maintenance and Property Taxes? I spoke to the listing agent today and he seems confident that the owner will hold a note, so I'm thinking it should cash flow nicely if I'm able to pick it up for $40k at the highest.

Thank you for the quick reply, Scott! I should also add in that it's about a half acre size lot - so this will likely be a stand alone facility. There are 6 10x20 units that can be subdivided to create more units. I will be running the operation out of my real estate office, so no need to budget for overhead there. Also, I will be self managing through my property management company, and wondered what a normal management fee for storage units would be? Thanks again in advance!

Looking at a 19 unit self storage facility here in town. Asking price is $55,000 with gross potential rents of $13680/year. Property tax runs $2600/year and insurance runs about $600/year. Estimating snow removal at around $1500/year. I also happen to know that the property needs some excavation work done to improve the driveway, which I estimate will run $10,000. That being said, I am going to make an offer somewhere around $35,000 using seller financing. Does this seem too low?

Go after it! Network with your local Realtors who are representing investors - that's a gold mine!

Anyone have some insight?

I'm looking at starting a maintenance & Cleaning company to run parallel with my Property Management company. I will be partnering with a local contractor who will perform the work as a subcontractor of my company. Does anybody have experience in this kind of venture? Looking for some guidance on how to best set it up. Thanks!

Excellent. Thank you for all of the great replies! Can anyone recommend a couple of books for me? Also - I'll send out some PMs to some of you for a little more insight. I really appreciate it!