All Forum Posts by: Ralph C.

 This is to the point, and funny. I like that.

But.....you do need a good software.

@dylan tettemar,

Don't forget about the available benefits of being in the force, you can also utilize VA loans to get started as well.

@bradley bladon,

Another way would be to connect with a local REALTOR you can trust and ask him or her to run you a sold report for properties  recently purchased cash (which is usually an investor transaction 3 to 6 months back, area you want to market) and get their mailing info and start off there. 

Best thing is to contact your local real estate attorneys  and ask if they can draft one up for you and what their rate is. 

@vladimir valladares,

Or you can  just tack on the typical Agent commission to the sales price and run it through the brokerage office.

No problem there. consider it what it is, an off market transaction. You can use regular purchase and sales agreement and cross out those sections that don't apply.

Please consult with your states tenant laws.

At the very least it would have been wise to have something on paper once you took over  to Set the expectations.

Basically to cya.

@daniel nelson, slowly, all you can do now is follow up, follow up and follow up.

You can't rush him. Otherwise he will say you rushed or forced him when he wasn't ready.  Keep in touch with him and always top of mind.

He will eventually give in the more you follow up and point the benefits he gains from selling to you.

regarding Elizabeth v's comment, the operating agreement will spell out the details of the partnership agreement and terms regarding profit distributions.

From my experience of setting up and creating llcs for  our private holdings, that's the first step in shielding yourself.  Keep in mind that this is a litigious society and whether you are flipping, leasing, wholetailing or simply assigning(even though this one does not get recorded) you are always better off using a company/llc as the seller/buyer/holder.

Of course always consult with an attorney for your specific situation and tax treatment.

I tend to agree with Michael haynes.

@craigmorrow i learned all about the self storage industry from the ground up, (back in 2004) including the development process. I was super fortunate to be connected to an investor developer who actually built his own and I was able to be a part of the show.

So from what I see  Here and considering the numbers involved, this location would need to be managed by you initially considering the cash flow. I do not see where it can pay for the salary of an on-site person to handle the customers.  It's a slow cash generator and this one looks like it would need time, also have you checked the competition? I am not sure if I missed it but hopefully there's room here considering the households and commercial businesses around that you can possibly capture.

Let me know if I can further assist, I'm looking for partners in a new jv in ss.