Hey everyone 👋 I'm curious what your desired population size/square mile is to feel comfortable when underwriting facilities? I've read in AJ's book that they look for markets with 10k people/square mile (so 30k-50k population in a3-5 mile radius of a facility). Now I know AJ's team is buying in larger markets and he even started out in small towns, but what do you consider TOO SMALL?? For instance, I looked at a facility today with less than 1k people in 1 mile radius, 3k people in 3 mile radius and 5k people in 5 mile radius... The facility looks attractive due to lack of website, Google listing, secure facility, etc but I'm thinking the population is just too little. The NOI is stated to be $67k btw 💰

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When running Worst/Expected/Best Case scenario projections during underwriting, the idea is to find a worst case scenario that we could live with. What does a worst case scenario we could live with look like? Link below to a deal I'm looking at. As is, I believe the business has a current value around $600k. I see a bank financed offer at $625k providing the returns I'm looking for. I ran a worst cases scenario to play out if I can't raise the rents as high as I'd like. The 5 Year Summary Table shows the result. What do we look for to know if it passes the "Can I live with it?" test. Notes: This is for a bank financed offer. I ran this analysis using an estimated flat 40% expenses. I didn't break it down line by line. So a lot of lines are blank. https://docs.google.com/spreadsheets/d/1nyRx8t7Gj-eM7GX7ORLTCnGgKL5Eeew4/edit?usp=sharing&ouid=118426573171122109797&rtpof=true&sd=true #underwriting #makingoffers

Good afternoon StorageAce community. So I have heard over and over again about using a CRM in order to create deal flow/funnel. So I would like to hear some recommendations. Share what your using and which works best. Thanks in advance and remember, Let's get after it!!!