All Forum Posts by: Robert Ruschak
Robert Ruschak has started 4 posts and replied 64 times.
Post: Storage facility purchase
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
That is a solid strategy! Are you going to expand upon this exsisting facility and what Management software are you using?
I will have to locate an off-the market facility myself!
Post: Storage facility purchase
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Hello Joshua,
Congratulations on this excellent acquisition! Why did you decide to use your other real estate as collateral vs doing a 1031 exchange?
Post: Storage facility purchase
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Originally posted by @Joshua Watts:
Investment Info:
commercial investment investment in Tullahoma.
Purchase price: $3,861,000
Cash invested: $1
Purchased 940 unit self storage facility.
What made you interested in investing in this type of deal?
Had a much smaller facility in the area and felt that there was huge opportunity in increasing rents.
How did you find this deal and how did you negotiate it?
Cold called for two years until the family sold the facility to me.
How did you finance this deal?
Local bank
How did you add value to the deal?
Increased the rents, added climate control, added parking, kicked the people that were not paying out, and added retail (locks and packing supplies), cut expenses (cutting personal)
What was the outcome?
good cash flow
Post: Apartment Financial Underwriting - A 2-part Series
- Real Estate Broker
- Indiana
- Posts 65
- Votes 11
Impressive in depth analysis.