T-12 income/expense statement.

Look for proximity to Tier 1 providers (AT&T, Lumen, Verizon).Map out “dark fiber routes” — some counties and old industrial parks are sitting right on them.Location EconomicsLow energy cost = higher margins.Best states (so far): Texas, Georgia, Alabama, Ohio, Utah, and Missouri.Bonus: tax incentives in data-center-friendly states like Virginia or Nevada.Design & ConversionFocus on “powered shells”: basic infrastructure (cooling, power, racks).Partner with small hosting providers or mining companies to lease in bulk.Financing OptionsSBA 504 loans (only ~10% down if you own the operating company).DSCR or asset-based financing once the first lease is in place.Incentives: some states give credits for energy-efficient retrofits or tech infrastructure.📈 The Business Model (in simple terms)Phase 1: Buy an older warehouse <$1M.Phase 2: Invest ~$150k–$250k in power upgrades, HVAC, and security.Phase 3: Lease out racks or entire rooms to tech tenants.Phase 4: Refinance at the new appraised value (cap rate compression = wealth).Done right, a single small facility can net $40k–$70k/month, while the property value triples.🧭 My Next StepI’m currently analyzing a few markets (Dallas–Fort Worth, Huntsville AL, and Columbus OH) and talking to brokers about properties under $1M that already have decent power access.I’d love to hear from anyone who has:Invested in industrial-to-data-center conversionsWorked with colocation or mining tenantsExperience with utility upgrades or zoning for high-power facilitiesQuestion for the community:If you were starting from scratch in this space — what would you focus on first?

Just like stock market or bonds etc.other wise CDs of 250k an under fdic insured or T bills is were one would put funds if they dont want risk

Quote from @Huong T Nguyen: Quote from @Mike Fisher: I would be happy to share my experience with Delta Build with two words.

The Bank or some lenders will then fully underwrite the file while we leave the subject property as "TBD" and offer an actual "Loan Commitment" which with the right bank thats a gaurnatee to close in 15 days or less.That also offers the buyer a better chance of getting their offer accepted even over a cash buyer in most cases if they are closer to ask. 

Selling your home to start investing can work if you’re ready to take action and want to scale faster, but it’s important to run the numbers carefully on cash flow and reserves before committing.

most of that 6 months was UW, working w/ the lender, back and forth w/ boots on the ground team before we got it under contract since it was out of state. on large syndicated deals you don't typically get full roof access until that stage. we toured twice early on, roofs looked fine from the ground/aerial view (flat tpo). reports and investor commitments happen during that same period. 

The fact that you're consuming content and asking for advice shows you're committed to doing it right, which is the most important mindset.Here are some thoughts based on your goals and challenges:1.

Once i get a title commitment ........then i market the property to investorsThats how I've always done a wholesale dealIf the deal is anything less or something i cant handle or feel its a headache i will market the opportunity as a lead for a few hundred bucks since i already spent time getting it under contract.

But be prepared for that significant time commitment unless you're planning on using a property management company, etc. which takes another slice of the pie, so to speak.