All Forum Posts by: Travis Rogers

@Paul Moore Thank you for the comment! I've watched your videos in the past, and watched one of them today where you mentioned Terry Campbell. Ironically I spoke with him this week. I have it narrowed down to his SBA @90% LTV but with more fees, or a bank that will do 85% LTV, 25 year am., and a 10 year fixed rate which is good as well. Tough decision at this point but it will be one of these two.

Having a storage facility has been a goal of mine for over 20 years, I'm glad that it's finally happening! My goal was to have one, now my goal is to have several including my SFR's. Thanks again, you've got some great points in your videos and @Henry Clark's advice above is awesome as well! I appreciate you both taking the time to respond! 

Have a great weekend!

@Jerel Ehlert thank you for the detailed info! I don't have an Oregon LLC, can i just create a Texas LLC since the property is in TX? Or would it have to be a foreign LLC as you mention above in your example. Thanks again!!

@Henry Clark I'll be focusing on the areas around Temple, TX and possibly Lake Mary, FL. Kind of in a holding pattern for a bit while I get my first one going, then plan on getting another one when the timing is right. 

Thanks @Blaine Alger, Sounds good! I hope to be down there in the near future, it's a little cold in Oregon! I'll respond to your message and we'll catch up soon. Have a great day, in the great state of Texas! \||/ 

@Blaine Alger Thanks for the response! I'd like to connect, I have Baylor fam that live in Temple and my single family rental is in Temple as well. Once I get this verbal onto a signed contract (should happen today or tomorrow since today's a holiday) I'll get the info to you. Waiting on the realtor to finish drafting the contract. 

I hope all is well and hope you're enjoying Baylor! I've been to a few football games down there at the old stadium, hoping to get to the new one sometime soon, it looks amazing! 

@Chris K. Thanks! Speaking to my attorney on Monday. Was hoping he'd be available sooner, but found out I have some time to get this done anyway

Thanks Henry, I'm transitioning out of Oregon (many reasons). However, I have one high end SFR left in Oregon, 3 blocks from me. My tenants are amazing! If they give notice, I plan on doing a 1031. I'll be discussing their plans in the near future and will determine if a 1031 is coming soon depending on their situation, they've been great! Timing storage with a 1031 may be tough but if I can time it and work something out, that would be fantastic! Since that property does have substantial equity I do plan on using the equity as needed for future storage and multifam when the timing is right.

Thank you so much Henry! This is great, detailed information! I've been trying to get in touch with SBA but have not received a response, I'll keep trying. I have interviewed three banks and narrowed it down to one if SBA doesn't work out. I see some benefits to SBA, especially if they do that 6 month deal again, but also know it takes some time as well. As far as the other details, some of them I'm on top of and some were good, new information for me. Very helpful as I get things started and transition from my SFR's into storage and possibly apartment development down the road. I appreciate your response, one of the best I've had on this site, thank you again!

Yes, am talking with a local lawyer as well. Open to suggestions and other viewpoints on here in case any of you have dealt with a similar situation

Hi Folks!

I'm purchasing storage units in Texas, but I live in Oregon. It looks like I would file the LLC for the storage unit business in TX since that is where the property is, wanted to post to see if anyone has experience or any advice on this topic. Thanks in advance!

-Travis