All Forum Posts by: Doug Johnson

I have a 32-unit MF in Garland Texas with a big parking lot. We are thinking about adding a 16-door self storage. Has anyone done this before? Any advice on costs, insurance, rental contracts, security, etc.

Thanks

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Go for bigger multifamily. There are lots of syndicated MF out there where you can make >10% CoC and be totally passive

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5% for Maintenance is too low for an older unit. I live and invest in MF in the Dallas area. If I can't make >12% Cash-on-cash, I pass.

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Are you thinking of "Insightly"?

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Originally posted by @Morgan Smith:

I've done it several times, I can look into it and if it's legal I can do it for $50.00 a property. Please PM if your interested.

Basically, you file the paperwork initially with them saying you want to protest then you get comps off the MLS.

This is a Jefferson county process not Birmingham. Mind you they usually don't go crazy downward. The most I got last year was 20k reduction in the 5 houses I did.

I just got my bill and the assessed value is 30% over what it was loan appraised for this summer. I am looking for a local person do the protest for a share of the savings.

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Originally posted by @Matthew Whitaker:

Good morning all,

I work with Matt and have personally done this a number of times for our clients. You are correct in saying that you need either a licensed local agent or an attorney to represent you when appealing these.

My suggestion would be to contact Brian Cloud ([email protected]). He's told me that he handles these and I'm confident he understands them.

Biggest advice when getting this done: Make sure you get someone who understands the process and understands how the Board of Equalization thinks. If you think using logic will get your appraisal lowered that is not the case. You must "speak their language" and work within their process.

I just got my bill and the assessed value is 30% over what it was loan appraised for this summer. I am looking for a local person do the protest for a share of the savings.

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How did Maverick compensate you for the lower rent you are getting verses the rental rate committed by BIP at closing?

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Have you considered Multifamily? I changed my SFR direction toward MFR.

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There has been fraud with their local provider where Maverick did not vet Birmingham Investment Properties well. Search "Birmingham" and "Maverick" on BP and you will see a couple of threads with very unhappy Maverick customers. I am not a Maverick cistomer and would never trust them to vet local turnkey companies.

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All Forum Posts by: Doug Johnson

Doug Johnson has started 1 posts and replied 81 times.

Post: Plano Shops at Legacy Meetup

Post: Self Storage with a 32-unit MF

Post: Multifamily, Commercial Tenants, Endless Options

Post: Please Help, Multifamily deal?

Post: FREE Cloud-based REI CRM? I know it exists

Post: Property Tax Appeal/Protect in Birmingham AL

Post: Property Tax Appeal/Protect in Birmingham AL

Post: Fraud with our Birmingham turnkey property

Post: Orlando, Birmingham & Memphis

Post: anyone deal with Maverick Investor Group?