All Forum Posts by: Jack Yen

Hey I'm currently looking for similar self-storage opportunity in NC. Anybody could share their experience? thanks 

thanks! @Ronald Rohde surprisingly we got our LOI accepted even we feel we were low balling. Tax value is close to what we offer and we are also seeing nearby land is selling for $1.4M for almost an acre, zone B-2 same as this one. So there might be something interesting for some upside there?

How would you suggest how to handle day-to-day operations? 

@George Yu thanks for sharing your amazing journey! I am at a similar crossroad myself, I have a small residential portfolio and buy them here and there. Trying to find value added multi family but number just scares me away from doing it. I love the action you took and think outside of the box! Amazing and inspiring!

Thank you @Dave Carpenter and @Account Closed I was able to get some financials from the past 3 years and they seem pretty consistent on the income and expenses. If using the given number, the CAP seems really good about 14%. I don't see there's potential to add extra bay for service, increase the charge nor cut any of the expenses so probably no "value-add". My question is, how do you usually evaluate this type of business plus real estate? Is it possible to find bank financing on these? Thank you for your help!

Hello, I'm wondering if anyone could help share their experience with self-service car wash investment? I came across one that's for the business and real estate and seems interesting. I don't know how much the owner/operator has to be involved on a daily basis although it's self-served so I would like to get an idea. Any comments are highly appreciated! 

update: after literally claiming mountains and try to ask the listing broker to check with the sellers. It turns out the seller took all the appliance lol. The seller is supposed to schedule a time to return them. Any suggestions on what I should be aware of in order to protect myself?  

Update: I tried to reach out to the listing agent and BIC from both sides try to find out what happened. Everybody is still pointing fingers and kicking the ball around, I did not expect how unprofessional this would come down to. So far, my experience in this transaction with all the contractor/RE professionals at Memphis has been disappointing. I'm planning to escalate this to the Memphis realtor association and seek for help, anyone has experience on this? any other suggestion? Thank you. 

Thanks @Clifford Paul. I'm out of state and my only boots on the ground at this point don't do a good job. I  probably needed to do a better job interviewing property managers/agents. My question is, now things are gone, what are my options to figure out the responsibility and move forward?

Thanks 

update: The appliances were on the listing. We closed on 27th and my agent told me she has accessed to the key until Oct4th. I found out through her office she did not pick it up until then. We filed a police report. Could anyone suggest what would be a possible option to move forward to minimize the lost?

Thank you

Thanks for the comments. Other than filing police report. How would you suggest where and who start to ask? It's not the end of the world but I want to be sure I can still trust the people that work around this deal...Thanks