All Forum Posts by: Emeka Attoh

 Calm down. You asked for advice and because you got an answer from someone who did not fully understand your situation, you calling it nonsense. if you don't want any nonsense, then deal with selling your stuff offline so that no one can give you nonsense answers.

I will definitely do a bigger post once I get through some of the hurdles. I’m at the feasibility stage and googling that service results in 4 - 6k dollars. So my mind is calculating that if I have three potential markets, will I need to perform FS for all three? Inclining more towards learning to do Remote Desktop study and use that and if a market really pencils out, I’ll pull the trigger on a precessional FS. We will see. Progress brings confidence, I guess!

@Henry Clark Thank you. 

Yes. I have read both "will they come", "self storage - scaling" and most of your other post. Implementing will they come on a couple of markets. Also looking at land in those markets.

As you said, an open forum can be paralyzing and I have been paralyzed so many times with the amount of information out there. But that is where grit and persistence comes in, I guess. 

Awesome breakdown.

As a Newbie trying to get into self storage, I don't know how this made me feel(bankers, construction costs and the overall outlook on things.)

I know this is your perspective but hey you are miles ahead in real estate investing and your perspective matters, I guess.

This is so good. Thank you @Henry Clark

@Henry Clark Doing the analysis on existing facilities and using google map. How do I determine what size is 10*15 and 10*20?

I read your post, will they come and I have been analyzing some markets. I will post some of my market analysis on BP once done. 

I'll be the first to stay at the destination Airbnb.

 Thank you.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $43,000
Cash invested: $55,000

The property was cheap. However, it needed extensive repairs when increased the cash I invested into it.

How did you find this deal and how did you negotiate it?

Zillow

How did you finance this deal?

Conventional

How did you add value to the deal?

This property has substantial repairs which increased the amount of cash I had to invest. Also I failed to look at the ARV. I intend to hold it until I get an ROI

What was the outcome?

The ARV is not worth the amount I used for the repairs

Lessons learned? Challenges?

Always know the ARV
Buy houses that need less repairs. If you buy any one that needs a lot of repairs, make sure the ARV will be worth more.