All Forum Posts by: Tatenda Mpofu

Thanks, I've let them know that you shared a referral

Hi all,

Can anyone recommend effective yet affordable attorneys who can help me with executing a couple of evictions in Eastpointe for individuals behind on their rent?

Thank you

Hi Pankil, 

Apologies for the delay: I had a personal matter to resolve. I will DM you shortly.

Best

I’m a young, hungry Private Equity-trained investor raising capital for a unique value-add acquisition: a cash-flowing self-storage facility with an attached car wash in the Dayton, OH market. This is a 506(c) offering available to accredited investors only.

I'm offering:

• 12% annual preferred return, paid quarterly
• 10% equity kicker, paid at exit
• Full return of principal at exit before taking cash out of the business

Deal Highlights:

• Strong in-place cash flow: $160K NOI with immediate upside through revenue optimization
• Purchase price: $1.8375M
• $1.2075M in seller financing at 5% simple interest
• $100K to be raised by the sponsor (me)
• $550K raise via preferred equity
• Located in a supply-constrained micro-market with underbuilt self-storage density and limited new competition
• Additional car wash upside through modernized marketing, signage, and automation
• Conservative underwriting with a projected 8% cap rate exit in Year 5

The sponsor (myself) is retaining majority ownership (likely over 90%).

If you’re an accredited investor and would like to review the pitch deck, model, and legal structure, feel free to email me directly at:
[email protected]. Also happy to walk through my track record and the projections of this transaction.

Happy to walk through the structure or hop on a quick call if preferred.

—
Tiki Mpofu
Oryx Horn

Thank you @Henry Clark, you post a meaningful amount of excellent content. I will definitely go through it. Market analysis is where I spend the most time. 

Good to be reminded about deferred maintenance. 

Rent rolls I spend a lot of time reviewing as well

@Ronald Rohde, thank you - this will be a purchase of an existing property that was previously barren land. What is Table A?

I am contemplating a portfolio buy with 3 facilities. One of the 3 has a 1 in 100 year flood risk (survey was shared by the seller)

Hi all,

Seeking an attorney to assist with a purchase of a facility (combined car wash/self storage facility) in west Dayton - Drexel, Dayton to be specific. Need to work with someone with a strong knowledge of the zoning laws in the area.

Best

Thank you,

I'm new to this type of investing (more familiar with buying businesses) so I'm cobbling together information from brokers, chatGPT and everything in between to figure out what I need to (at reasonable cost while controlling risk profile) complete an acquisition.

Facility is in rural Kansas, and is composed of a portfolio of 4 buildings on 3 parcels. 195 unit count - ~10 years old on average, some are newer (2 years) others older (15+ years)

A quick search suggested that the following surveys could be completed in the diligence phase of self storage facility acquisition

1. Boundary Survey: 
2. ALTA/NSPS Land Title Survey: 
3. Topographic Survey: 
4. Site Planning Survey: 
5. Floodplain Survey: 
6. As-Built Survey: 

I'm curious which of these are necessary versus nice to have

I am working through a PSA for the purchase of a self storage property and I would like to know what surveys you would say are

a) critical

b) nice to have

c) unnecessary

when acquiring a self storage facility especially given standard exceptions in title policies.

Opportunity Overview:

I am seeking forward-thinking equity investors to join a syndicated equity investment in a promising self-storage facility in the Midwest. This investment opportunity offers the potential for downside protected returns while maintaining opportunity for meaningful value creation over the next 5-10 years. My underwriting suggests a base case with high teens equity IRR and an upside case with a low twenties IRR.

Key Investment Highlights:

• Competitive Pricing: Current units are priced 10% below the market average, providing an immediate opportunity to increase rates and boost returns.
• Market Leadership: We are the largest provider of self storage within a 5-mile radius—three times larger than any competitor—and the exclusive provider of climate-controlled AC units, offering significant price discovery potential.
• Strong Occupancy Rates: Occupancy has consistently been in the high 80s, and recent expansions in late 2023, including 17 additional units, reflect the growing demand.
• Expansion Potential: There is a strategic opportunity to introduce car/RV parking services and potentially double the capacity in the future, pending market absorption tests.
• Attractive Entry Cap Rate: In place entry cap rate of 9% leaves room for cap rate compression given comps of similar size have traded for 6-8% cap rates in the last 12 months 

Investor’s Role and Benefits:

As the principal investor, I will be contributing my own equity and personally guaranteeing the investment, underscoring my commitment and confidence in the project’s success. We are looking to round out the approximately $400K equity needed with contributions from a select group of investors. Each investor is invited to contribute to this equity pool and in turn, will receive proportional shares of the returns.

Ideal Candidate:

I am interested in partners who are willing to put meaningful effort into underwriting the opportunity and vetting me the principal. Ideal candidates should be prepared to contribute their equity checks in the next 60-75 days to join this opportunity.

Next Steps:

If you are interested in exploring this unique investment opportunity, please leave your email address in the comments below or send a direct message to initiate a discussion and to receive the material I have prepared on the opportunity. 

Contact Information:

Please provide your contact details to receive a comprehensive investment memorandum and further engagement details.

Background on the principal:

View my background below

https://www.linkedin.com/in/tatendampofu/