All Forum Posts by: James Schass

I had posted a month ago that I closed my first deal (10 unit apartment complex) in September. Yesterday I closed my second deal, which is a 300 unit storage facility! Purchase price $1mil, appraised “as is” 1.7 mil!!!! I’m so proud of my team. This has been such a great learning experience for us all and we are rolling into 2020 with the goal of 1700 storage units or 450 multi family units. I know there will be hard times ahead but we are active military Green Berets that know how to fight through hardships! We are going to crush 2020! Thank you to everyone on BP who has given me advise and has helped in the process. Your time and wisdom is much appreciated.

I know what you are dealing with... surround yourself with people who believe in you and what you are doing and let the results speak for themselves... I put off doing this for 12 years because my family talked me out of it on several occasions... I decided one day to go against the grain and I’m much happier for it... they still don’t know what I’m doing and I’ve been at this for 7 months now. JUST DO IT!

I was quoted 30k for a security system from Access Control Technologies which installs hardware from PTISecurity. They did say it was worst case scenario and it was sight unseen. I am going to have them come out to actually walk the facility, but I’m just wondering how do I sort through what is necessary and what is just mark up and add ons to pad their profits. The quote is as follows:

PTI Access Control

1 Falcon XT Base unit USB/Ethernet/ 9 pin D-sub

I/O -8 Door inputs- 2 wiegand inputs- 5 relay

Outputs w/2 AMP on board Power supply &

Battery back up

1 storlogix standard software

1 PTI VP access device- anti vandal keypad w/out

Intercom

- (1) gated entry

LOT 8/16 oashld Kp communications and power

LOT 18/4 oashld Kp communications and power

LOT 18/2 oashld Kp relay and misc.

LOT conduit, fittings and boxes

LOT freight/ misc. consumables

LOT Project Mgnt/ tech install and labor

TOTAL $12,010.00

IP Video/CCTV

1 16 channel NVR 4TB w/cms and remote

Viewing HDMI Video Output

8 cameras Dome IR EPOE

-4 MP HD 1/2.5” Sony Exmor CMOS

progressive scan

-1080P picture quality at real time (30 FPS)

-2.8MM wise angle lens

-mobile apps - iPhone, iPad, Android

-70’ IR Night Vision/TDN

-Can be used in application up to 2000’

LOT UV rated CAT5 Cable

LOT Camera Mounting Brackets

LOT Conduit, fittings and boxes

LOT Freight/ misc. consumables

LOT Projecr Mgnt/ tech install labor

TOTAL $17,860.00

GRAND TOTAL $29,870.00

Ok... what do I need and what is fluff? What and how can I negotiate to bring down some costs?

Any insight is much appreciated from this great community.

Thanks in advance!

As an active duty soldier, I’m always gone... One day I was pushing my daughters on the swing set trying to figure out what to do with my life. I realized that what I wanted to do in life was push my daughters on the swing and just be a good dad. I’ve always loved real estate dating back to college. Real estate can make that dream happen for me, and it can do it for anyone who is willing to put in the work. My kids are my “Why” and they are what motivates me to give them and my wife a better life.

Thanks guys... I appreciate it. This storage facility is proving to be a unicorn.... purchasing it at 1mil and it’s been appraised at 2.2 mil. My partners and I were able to offer a 10% coc with a 35% stake in the venture. I’m pumped for the next one! 

On September 4th I closed my first real estate deal while still an active duty Green Beret, purchasing a 10 unit apartment complex in VA. It cost me $2,000.00. That same investment has now been used to acquire a 300 unit storage facility that I hope to close Nov 15th. I don't know if anyone is interested but I thought I would share my journey to financial freedom. Taking action and being prepared to move when the opportunity arose was the key to me starting. I plan on sharing my successes and failures in this business to help educate others.