All Forum Posts by: Paul Moore

Hi @Jonathan Gordon, this is a great question. First of all I would want to direct you to @Ian Ippolito private investor club. This is part of his real estate crowd funding review. @Ian Ippolito is a master at due diligence as you can see from the response above.

You should also check out Jim Pfeifer's left field investors. Jim is very active on bigger pockets and he has a community of people dedicated to performing due diligence on passive commercial real estate investments.

If you really want to dig deep, and I can see that you do, you should get @Brian Burke's amazing book on due diligence called The Hands Off Investor. Bigger pockets published this detailed manual in 2020. This will give you incredibly detailed information on performing due diligence on passive investment opportunities.

Happy investing!

Hi @Karen Johanson, this could be a fantastic opportunity! Or not. You've received some great advise above from some veterans. 

I would use radius plus (https://www.radiusplus.com) to evaluate the metrics. Like @Scott Krone said, hopefully you will be under about 7-8 sf of storage per person in a 3-5 mile radius. You should also evaluate whether the facility is on a main road with great visibility and with a medium to high income area.

Feel free to PM me if you would like to discuss other details on this opportunity. I agree that it might be best if you want to partner with somebody on this. You might want to use Scott Myers, a BP professional, who could direct you into evaluating this further. @Scott Krone is a great resource as he has done this many times. Goodluck!

Hi Fata: 

you got some great advice above. It’s been a while, so can you give the group an update on what you have found and decided?

Hi @Tina Lee. Great question, I highly recommend finding a paid coach or mentor. Once you narrow down to the exact type of real estate you want to do…like multifamily, self-storage, mobile home parks, or whatever…do a search for a great paid coach or mentor in that arena.

After doing a multifamily project, I actually hired a paid coach and it changed my life. There are a lot of great ones out there. Good luck!

Hi @Jason Shackleton! Great question and you got some fantastic answers above. I would especially point you to study @Ian Ippolito's insightful answer above. For you passive investors out there, Ian Ippolito, of the Real Estate Crowdfuding Review has a wonderful organization called the The Private Investor Club, that does detailed reviews on sponsors, deals and funds. I highly recommend that if you are an accredited investor that you go there and check it out (Ian won’t self-promote but I will do so on his behalf!).

You can also get a lot of information from @Brian Burke's BiggerPockets book The Hands-Off Investor. Good luck and happy investing!

Hi @Ty Spinks. There are a variety of ways to do this. One way is to just drive around, especially in smaller towns and areas that are not as heavily populated in general.

Another way is to build a database and systematically call, text, email, and even handwrite letters to these owners. You can also hand deliver letters if it’s in your area.

Our company invests “passively” with some of the top self-storage and mobile home park operators. One of them has a team of 8 people, full time, working the phones to find the very best off-market deals. They come up with many deals per week that would be good, and this gives them the opportunity to select only the fantastic ones. They close on a few deals per month and their returns for us and our investors are off the charts. If you are really want to get serious, I would suggest you develop a systematic strategy like that to contact and re-contact mom-and-pop owners off market. Good luck!

Hi @Robert Frazier this is a great question:

1. Safety and principle
2. Cashflow
3. Appreciation
4. Tax benefits
5. Hands-off. Meaning they are trusting you to manage the project and their money

Good luck!

Hi @Logan Stralka! Read The Hands-Off Investor by @Brian Burke--a great way to get the foundation started in commercial real estate. Find a mentor if you are able to. Read as many relevant books as you can. Try to network within a community of like-minded individuals who can help you grow. Left Field Investors, Jim Pfeifer, has a great group that you may want to look into. Good luck!

Hi @Aaryan Patelgreat question! I did a BiggerPockets video on this exact topic and here is the link: How To Avoid Paying Taxes. Good luck!

Hi @Brad Stallings! I think you have gotten some great answers above. A big factor is you need to consider: 

How active do you want to be in these investments. If you would like to be a passive investor, do your research on syndicators and their current offerings. This allows for diversification and little to no work on your end. The syndicators will have a lot more experience and run things for you. This may allow you to learn more while still investing in the asset classes you want to know more about. Good luck!