All Forum Posts by: Kaustubh Johri

Kaustubh Johri has started 24 posts and replied 178 times.

Fix and Flip is my bread and butter, however, looking to expand operations into wholesaling for internal lead generation and wholesaling the properties to other flippers.

I am seeking recommendations for inbound marketing ( on social media ) service providers. Looked into REI reply but they looked a little flaky. Any other recommendations/suggestions ?

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I'm in the market to find a suitable software/service for my wholesaling operations. Spoke to REI Reply a couple of times but when I asked some tough questions, he flaked out. We were supposed to start last week and I am still awaiting his reply.

Just curious if REI reply is legit or not.

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@Henry Clark - Thanks for the detailed reply. This was very helpful. Your inputs certainly give me more direction as far as the numbers are concerned. I am primarily into SFH and looking to get into CRE. You are right on underwriting on more deals to familiarize myself with the metrics.

It is funny that the broker is marketing this as a 8 cap property on pro forma basis in year 3 :)

Quote from @Henry Clark

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Quote from @Scott Krone:

@Kaustubh Johri is correct there could be opportunity. With what you have written, it is impossible to say is this a good deal. Is it a good deal at $500,000 - perhaps. Is it a good deal at $200,000 more than likely. Is it a good deal at $1,000,000 - probably not. There is still more that needs to be determined:

The saturation is a concern:

1. Why is the econcomic 60% and physical 93%. There could be many reasons for this.

2. Expenses at $65,000 is quite high for that type of facility. It is worth digging into the expenses

3. 93% is a good occupancy and if the saturation is 7 sf/capita than I would expect to see 93%.

4. Are there opportunities for additional income (insurance, expansion, truck rental).

These are the areas where we would begin doing more due diligence.

@Scott Krone - I am sorry I missed the price - 1.7M is the asking.

You have made some pertinent points on expenses. I will certainly look into it.

What is a "preferable" saturation rate for you ?

I will look into addtional income streams as well. Great points.

Once you have all the info, how do you assess a good deal ? Is it based on Cashflow per door or cap rate or something else ?

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Quote from @Taylor L.:

When I see that big of a difference between physical and economic occupancy in self storage I see opportunity. That may be a sign that the property is mom and pop owned, and is a strong signal that there may be a lot of upside simply through better revenue management. Next up I would call around to all of the local facilities and get a feel for how occupied they are and what their rates are.

My biggest tip is that you go check out @Michael Wagner's Storage Rebellion, and hit up YouTube for basic Self Storage underwriting. There is actually a lot of good content out there that can at least get you started. In order to close on the deal you may need or want to bring in a partner, which is where networking becomes important.

@Taylor L. - Thanks for your inputs. Yes, I am told its mom and pop owned. You have made some good points. I will look into it. Thanks for your time.

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Need guidance and direction from the experts here. I am looking at a SS facility in GA. Following are the details -

- 15000 NRSF

- 110 UNITS

- 60 Parking Spaces

- Physical occupancy - 93% , economic occupancy - 60%

- Population - 1 mile : 5000, 3 mile : 35000, 5 mile : 115000

- Supply - 1mile: 20 SF/Capita , 3 mile: 9SF/C , 5 mile : 7 SF/C

- Traffic - 22000 VPD

- Gross Income - 130K/YEAR , NOI - 75K

How would you underwrite this ?

What are the important elements to look out for while underwriting this property ?

What is a realistic physical vacancy in the SS industry ?

What are different ways to reduce Op expenses ?

Is this a "good" deal ?

Any other tips/suggestions would be appreciated !

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Thanks !

Morris was disappointing. Slick talker, pleasant demeanor and he just fled to Portugal to make you tube videos from 'Morning Invest'

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Whats the latest on Grocapitus ? Is there still any steam left in the company or is just another marketing gimmick..like Morris Invest. Google Morris Invest and you will be shocked.

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When starting out as a wholesaler, how big was your cash buyers list ?

Less than 1K ?

5K ?

More than 10K ?

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Quote from @Freddie Williams:

@Kaustubh Johri using the current noi shows a very low number for sales price.

Then just walk away.. good opportunities will come. You have to keep your eyes and ears open and mouth shut :)

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All Forum Posts by: Kaustubh Johri

Kaustubh Johri has started 24 posts and replied 178 times.

Post: In bound marketing on social media - suggestions needed

Post: REI Reply - Too Good To Be True?

Post: Underwriting a Self Storage facility - Help needed

Post: Underwriting a Self Storage facility - Help needed

Post: Underwriting a Self Storage facility - Help needed

Post: Underwriting a Self Storage facility - Help needed

Post: Grocapitus - Anyone have experience with them?

Post: Grocapitus - Anyone have experience with them?

Post: How big was your Cash Buyers List

Post: Unstable 8 plex, would you pursue it and how.