Commercial Real Estate Investor. Self Storage and STNL Industrial.
Avilla, IN
Joined March 2022
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Just a reminder for brokers....
You can't advertise something as unpriced while also listing a cap rate.
Someone has already mathed it and the price was the result.
We're all adults...just post it.
My partners and I did a Cost Segregation Study on one of our new buildings last year and that one decision resulted in us paying ZERO in federal taxes.
My wife would kill me if I posted our 2025 Federal AGI 😂
It was ridiculously low and I loved it!
Best tax year of my life!
I posted this referral link last year and a couple of you used it to save yourself some money.
If you invest in real estate and bought a property for at least $500k this year it may be worth getting a proposal from RE CostSeg.
Reach out if you want to talk more.
recostseg.referral-factory.c…
It was at this exact moment I realized we’re nowhere near our borrowing cap with them 🤣😂
The Komet's won too 😎
Earlier this year a seller used our offer to push his tenant to $1.35M
$1.25M was our max, so we walked
The mid-Sept closing date came and went
Still not wrapped up
A higher price doesn’t count until it closes
With today’s rates, our offer would be lower now
Our main bank has priced at 5YT + 2.75% for years
Treasuries jumped the last few weeks, and they just cut the spread to 2.25%
They're also doing 25-yr amortization now. Used to be a hard 20
Banks want loans on the books. If you've got a deal, go shop it
I had a very productive trip to The Avenue Plaza in East Liverpool, OH yesterday
The owner of our new salon and I met with two contractors to get bids for her remodel.
I also walked our two vacant spaces with another local business owner.
I finished up just in time to snag the last cinnamon bagel from The Avenue Bagel Company so that I could enjoy a Sweet & Savory made “the right way.”
Hash browns on a freshly made cinnamon bagel combined with bacon, cream cheese and locally sourced maple syrup!
Claude is basically down today.
Which means that I can't even be pretend to be an unlicensed attorney in my own deals.
Follow up, follow up, follow up
Trying to lease up a strip mall in a town with A LOT of vacancy isn't for the faint of heart
Just followed up with an established biz in a nearly vacant plaza
My 1st outreach didn't go anywhere
Now she's asking questions.
I stopped doing showings on residential rentals over a decade ago.
Take really good pictures of the unit
Place a link for a mobile friendly application in all of your marketing
I use Jotform for this
Once you have an approved applicant, you set an appointment to sign the lease
They walk it and sign more than 90% of the time in my experience
Such a time saver!
Bought this 5-plex about 15 min north of where I live in '13 & the corner house in '16
I've improved them both over the years and will continue to do so
It's the only non-commercial corner left on that intersection
The plan is to hold until some developer wants them bad enough
I'm also ok if that never happens, they're great rentals
My Dad is 70 years old and flips houses to stay busy.
I spent the day yesterday helping with new outlets and just hanging out.
At one point I overheard him having a full-blown conversation with Siri about a GFCI issue.
If you asked him if he uses AI, he'd say no.
He chatted with it for 5-6 minutes today.
AI doesn't need you to notice it to change how you live.
The seller says we're over the outside corner but not in the strike zone.
We're either real close or in need of a new umpire!