All Forum Posts by: Mike Reynolds

Agree 100 percent. The main issue is the client has been told a lot of misinformation all these years and wonder why it's not really that way. They watch a show on TV that says the flipper only paid 800 dollars for the new driveway. I can build one for that. 

In Columbia maybe. But only if I didn't eat while I was there. 

 Developing is not a problem. We even have equipment. Building is not a problem either. I will have enough for maybe half down but don't want to use that unless needed. 

I guess what I was really wondering was do bankers look at you cross-eyed when you mention self storage? Is it a niche market for lenders? I don't know where I will put it yet but looking at multiple areas. I may have to find a local guy. 

There is a website that works like Airbnb that allows you to rent spaces by the night, week or month I think. You don't even need power I think. It might be enough to pay the annual costs plus a bit more. And it would be ready for you when you are. 

i don't know the site but I'm sure someone on here does. I heard about it here. 

It's even harder for a contractor to compete than a realtor because of the apples to oranges dynamic. I once lost a bid for a whole house for 100 dollars total. For starters, my bid had R30 in the attic and low E windows. What the low bidder gave them was R19 and single pane windows. There was a lot more but you get the idea.

The owner called me furious. How could this contractor do then this way? I said you did it to yourself when you didn't really read the fine print. He wanted me to come fix it but I refused. 

Everyone wants Dollar Store prices but Bloomingdale work. 

Originally posted by @Henry Clark:

Day two.  Building one.  The folks are flying.  They should put on the door jambs and headers on the other side.  Ends.  Then they will put the doors in next, before they do the roof. Easier to stand above the doors to both lift/maneuver and to bolt in. Inside walls will normally go in last, so they can move easier putting on the doors and roof first.  Putting on the roof depends if its two windy.  The light weight insulation is hard to put up in the wind.

Beautiful Texas sky.

 How hard is it to get a construction loan for  self storage units?

 I get it. I'm in construction so I deal with the same type of people. If I sign a contract today they want it done tomorrow even though I have several I am already working on. 

We all hear horror stories about realtors, builders, mechanics, etc. But it's always one side of the story. Same thing goes for LLs, tenants and customers. 

OK, I am not a realtor so different perspective here. I hired an OOS realtor last year and he is awesome. He is also a BP member now since I have used him. I understand, it is a business but often you never know who will be a whale or a minnow. (I am a crappie but wanting to be a whale)

He found a property and as luck would have it we bought the first one from him. It was his (and my) first commercial property. It wont be the last though. I would pay this guy a retainer if he asked. He is awesome. No, I wont buy every property he puts in front of me. But I will buy only from him as he has more than proven himself as an asset to my company. At least in that state anyway. 

I have been seeing Zelle an awful lot here. I have been using Rent Ready for about a year and have been fairly happy with that. It does seem to have a problem with those that are tech challenged though. But now, I just rent to tech savvy people. 

I have been thinking about using Zelle as a "cashapp" sort of app. How well do most of you like that as compared to other apps like this? 

 Hah. Yes, hire your own subs. Understand though that they are not always going to do what you ask of them. I have a sub that has bid 400k for architectural metal. After much Maalox and Tums they told me today they cant perform this job. This is after me asking them to start since March. I have about 20 percent of the metal. Since I have been in the business for  while though I had an ace in the hole with another few contractors. I will have to use 2 contractors to finish my job where 1 said they could (and were very convincing and came highly recommended by another good source).  

Bottom line is, by all means do your thing. Understand though that things happen with even very good subs. You need to have several back-up plans for every one of them. I know the scale of mine and your work is probably miles apart but the same principle applies.

Stuff happens. 

 You can get cash out on land if you have the right connections and the right land. I cashed out on some land and bought some commercial property last year. It does have to be the right land though.