All Forum Posts by: Daniel DeMarco

I have done 3 LOC on investment properties. One I grouped 3 properties together that all had good equity. The other was a 16 unit building. I always go with the bank that has first position. This is really how I have went from a few units to just over a hundred in about three years. I use the various LOC for my down payment on the next property and just keep opening LOC on each property as I need more funds. So essentially every thing ish e is 100% financed. This has really allowed me to grow and really about every 2 years I sell my least performing property so I am not taking on too much risk. Each property I learn and improve the purchase and management process. I use small local banks.

I am buying a mixed use property with 30 self storage units and 15 apartments. I never had self storage and it has been run by the same family for 30 years. I was thinking of being less hands on. Any suggestions as to what storage software to use?

I started out with buy and hold to off set my wife's income when we started to have children and it has work out great so far. It has been 6 full years and we now have over 40 units with a few single family's, duplex, quad plex, and a 16 unit building.  Rather than reinvest our equity into additional properties we have decided to use the equity to buy a large piece of property and build our dream home.  All of this is coming from the equity that has come from improving our properties.  I guess what I am trying to determine are there others that invest that  aren't searching to always reinvest into more properties but rather use the rentals to help live debt free on the personal side while improving their live style?

I just want to see if there are others out there essentially financing all of their non day to day expenses through either monthly cashflow or pulling out the equity?

I recently purchased an off market multifamily in California PA. We current management company is from Beaver Falls and does not cover California PA. Looking for recommendations on qualified management companies in the area.

@Berkley Bossard

I use Premier Property Management out of Beaver Falls. They manage about 18 of my 38 units, I self manage the rest.

They have a brokerage company and an appraisal company. So I use them on everything which has allowed me to scale much faster. Their fee was 10%, but they have worked with me down to 8% as I have kept throwing business their way.

All thank you for the information, we are going to pursue putting some mobile self storage, anyone have a suggestion of what companies to contact that handle these?

That is what I was thinking and with the Bonus depreciation I should be able to depreciate these fully in the year they are put in service.  

I have an industrial warehouse that is fully rented but has 5 acres of flat land that I am thinking about doing self storage on.  Has anyone used the portable self storage units rather than building a building on a cement pad.  I am thinking this would be classified as equipment not a building since you can pick it up with a fork truck and move it anywhere on site.  Has anyone done this and successfully depreciated these units as equipment and not buildings? 

I am in negotiations on a 28 unit 4 story apartment building.  I am looking to improve efficiencies of how the building operates.  It is heated with a gas fired boiler that costs approximately $40,000 to operate each year.  (North of Pittsburgh, PA) .  Currently each unit has their own electric meter and I am thinking about changing the heat system to Ductless Mini Splits for each unit so each unit will pay for the heat they use and they also will now have A/C which will allow me increase rent for that amenity.  Has anyone done this successfully in the past?  I know the initial upfront cost could be pricey but it will pay off in the long run.  Thoughts?

I currently have 12 units consisting of 8 properties and the amount of inventory/equipment I am maintaining for the properties is starting to stack up. I am flirting with the idea of building a garage at my primary residence to house my remodeling supplies and my pieces of equipment - tractor/lawnmowers/chainsaws etc. This will also be used a small amount for my personal needs for storage. My question is can my LLC pay for this garage on my property and can I depreciate it for my LLC useage?