Tune in to this week’s episode to learn how a StorageNerds student went from wholesaling land to earning passive income from 2 self-storage facilities. Armaan walks us through his search for the right deal, due diligence process, feasibility studies, and everything he learned while finding, funding, and running his first 2 facilities.
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Case Study: How StorageNerds Student Armaan Founded, Funded, And Runs His Self-Storage Facilities
Armaan is here. Welcome, Armaan. How are you doing? Armaan will introduce himself. He joined the coaching program in 2021. Introduce yourself and let everybody know how you’ve got into the storage world. Why and you can go over your deals. How did you find them? How did you fund them? How did you run them now?
My name is Armaan. Originally from India. I live in Miami now. I have been in the storage business for a little over one year. I decided to get it in January 2021. I was a wholesaler before. I was buying and selling land. I found Stacy on YouTube. I was watching some of her videos and thought, “I need someone who I can run deals with and analyze deals.” I joined her program. By June of 2021, I had bought my first facility. This is the very first one Lufkin Climate Controlled Storage. It is located in Lufkin, Texas. I found this. It was listed on the market on Crexi. Lufkin is a small town. Maybe about 30,000 people.
This guy was a developer. He built it to sell it. I think the reason they had not sold it is that he was asking a high price. It was listed at $1.5 million. It could not even take care of its own expenses. It was 30% full, so it was barely covering the expenses. I made an offer for $1 million, knowing that once it is leased up, it would be worth at least $1.6 million to $1.7 million. I bought it and would love to go into the rental rates as well. They have the 10x16s, the 10x20s, and the large 684 square feet unit. He was charging $120 a month for this one, $160 on this one, and $400 or $500.
Basically, I bought it. There was a lot of demand in the area. I drove by, and all the other facilities were 100% full with a waiting list. By the time we closed in June 2021, he was already between the time he got on the contract by the time we closed, and the occupancy shot up from 30% to 60%. I gave rent increases to the guys with the 10x16s. I bumped up these guys to $160 and these folks to $200. As occupancy continued to rise, I increased the rent to $185 a month for this guy and $225 a month here. That was for new tenants. I do not want to raise rents on existing tenants more than once every six months.
I took this facility from a point where it was making $6,000 a month. Making over $12,000 a month, and the occupancy was over 80%. At that point in December 2021, I refinanced the loan because I had to get a hard money loan to be able to close on it. I did a refinance where I paid off the existing lender. My interest rate went from 9% to less than 4.5%, and the lender paid $300,000 towards expansion. That is why you see those additional units that I have in there. I decided to add in 5x5s, 5x10s, and 10x10s.
The construction should be completed in June 2022. With materials taking so long now and all the shortages going on in the economy, it took four months to get the building, and it is going to take the general contractor maybe another month or two, to install it. We are adding in 51 more units. We will go from 78 to about 135 or something like that.
Real fast, Armaan, in terms of finding this, I want to know how many different facilities did you have to look at before you found this one? What were some of your strategies for finding them?
I had to look at a lot of different deals. I will probably take a serious look at about 30 deals. I have looked at maybe 50 to 100. I made offers on 30 of them. Of those 30, I had 4 offers accepted. From those four, I ended up going through due diligence and closing on two of them. Those are the two facilities that I own now. I had to play a numbers game there with all this competition. That is how I was able to find them.
When you’ve got it under contract with the financing, can you talk a little bit about all the different ways that you tried to finance it and why did you end up using a hard money lender?
It was my first time going through this process. I had Stacy, who was willing to help me, and the hard money lender. Basically, if you go with an SBA loan or a conventional lender, they are going to want to see financials, and they want to know that you have owned at least one facility before in some cases. Given that it is my first time, it is a loss-making facility. It was going to be hard to find someone to get that deal done.
The hard money lender was the only and probably the best option there. It was a loan of $800,000 thousand, so they went up the 80% loan-to-value, interest-only, and no prepayment penalty for the first six months. I had a facility for those things, $ 6,000 a month in revenue. My loan payment itself was $6,000, so all the expenses I had to pay out of pocket in the initial phase.
The loan was $6,000, and you were making $6,000. Essentially, it was a brand-new facility that was completely empty, and you had to lease it up. How does that process work?
Luckily, the owner already had an easy storage lease set up, so that made my job easy. The owner had all the phone calls going directly to him or his wife. I implemented a call center in place. As you can see, this number is a call center with easy storage stations offered to us. That helped me a lot since I’m not very good at answering my phone, and I did not want any calls to be missed. I had a call center in place, and that helped me. To google my business page, I made sure this was totally filled out. I asked customers to leave me their reviews.
I give tenants $10 off if they will leave me a review, no matter whether it is a good or bad review. That helped me. I added in more photos. All of those things definitely helped with my lease-up. One of the main things I would say is that I cold-called the neighboring facilities, and I had conversations with the managers. We have AAA storage and tech storage. This guy has been 100% full for a while, so I’ve probably got at least twenty movements from him, which was where I bulk of my leasing came from. I gave him $75 per move-in. I was paying him on the first of the month and mailing him a check for everyone that he sent my way.
Instead of using SpareFoot, you have decided to go and work with some of your competition and see if they could send you some leads?
I use SpareFoot as well. SpareFoot helped me out but SpareFoot is expensive. I did not put a very high bid. I put $1.75 million times the monthly rent as my bid. On a $200 move, that was $350 go into the SpareFoot.
We have a couple of questions. Let me ask, what’s the current occupancy?
It is a little bit over 80%. This is my unit mix but I’m adding in all these units as well so that the software is going to show it as a little bit lower. It is showing 53%.
Are you putting those all in this new construction?
All these units here are all new construction units. I’m adding in some 5x10s and 10x30s that are going to be right across each other. Down here are going to be some 5x5s, 5x10s, and 10x10s.
The land wholesaling business has been rough for the last few months.
How many units are you putting on and how much is it costing you?
Fifty-one units are costing me a little bit over $300,000.
That is not bad.
It is not bad. It should take up the value of this property to $2.3 million, all that.
You bought it for $1 million, and now you are going to spend $300,000 and get it to $2.3 million? That is awesome. You will make $1 million on the deal. We have more questions. Can you tell us more about your due diligence process?
The due diligence process was calling up the competitors figuring out what their rental rates are and how much I can push mine. That is the very first thing I look at. I fill out Stacy’s deal analyzer. I’m looking at what the potential run can be. The other thing is, usually, you want to get appraisals done. You want to get a phase one. I’ve got a feasibility study for this deal. That was expensive. I audited with Self Storage 101. That was about $6,000 to $7,000 but that told me what the future valuation could be and whether it makes sense to buy it and add more units. That was very helpful. That was the main part of my due diligence process.
It was a new facility, so there was not much to do. Following up on my last question, what documents do you request from the owner?
I had nothing from him. It was a newer facility, and it did not have much income history. I can check my folder and see.
He has a Google Drive folder with everything in it that he needs. That is such a good student.
I’m looking now through it. He did not give me that much. The only thing I’ve got from him was a survey.
When I was talking to Armaan about this deal, I was like, “There is no bank that is going to finance this. Why don’t you let one of my lenders lend you the money?” I introduced him to one of my lenders. They are like, “It is a hard money loan.” If you do not know a hard money needs, it means that they will give it at a higher interest rate for a shorter amount of service. I think they did like a year or eighteen months?
It was 24 months.
How fast did it take you to refi out?
Within six months, I refi out.
That was what he was worried about. I remember when I’m talking to you. He was like, “I’m going to break even. I’m going to have to come out of pocket.” I said, “Yes, you are going to have to come out of pocket on this but essentially, in six months, you were able to refi that out.” How was that process? Were you excited about it? Plus, you’ve got an extra $300,000, you said.
Yes, I did. For the refinance process, I did it with a local bank. It took about 60 days to get that entire processing taken care of but it was great. They wanted an appraisal, and I provided them with all the documents I had from before. It was an expensive process. At the time of closing, I had to come up with $40,000 to refinance the loan.
That is the hard part.
There are a lot of fees they add in.
Who ended up refinancing it for you?
It was Dallas Capital Bank.
It was not the bigger one I gave you. Tell us how you are managing this facility.
I have local boots on the ground. The general contractor has done the expansion for me. It is his wife who’s helping me manage it. I would pay her $200 a month, which comes up to maybe about $25 an hour to help manage it. She does the mowing and any maintenance work that needs to get done. If someone needs to be hired like setting up the security camera, she takes care of that process. She helps overlock tenants and cleans out vacant units.
If I need to auction a unit, she will put photos and send them to me. She is helping me with my boots on the ground, and I have the call center. Between those two, most of the work gets done. I do get emails every week from the call center if they have questions about billing and in case we refund this tenant and this person called in or they are moving out early. “Can we curate their rent?” The call center will have questions for me.
How much time are you working on this property? How much time are you spending a week?
One hour a week. I would say it is probably about average.
Remember, he lives in Miami and managing this facility in Texas. It is totally doable, as I said, to be anywhere and be able to manage it. I have a couple more questions. Was there a specific technique you used to find your first facility?
I was playing the numbers game, so I went on Crexi, and there are a bunch of sites you can go on. There is LoopNet and some self-storage sites. I was making a ton of offers. I was making low ball offers of 10% plus performa cap rates. That is how I was able to find these deals.
I was talking to somebody that is in the coaching program. He is please put in 30 offers in three months, and he is got nothing under contract. Honestly, it is a numbers game. If you are not putting in offers, you are never going to get a deal. When did you order $6,000 to $7,000 due diligence from Self Storage 101?
That is as soon as I’ve got it under contract. I started spending money getting all these reports. I ran the numbers. I made sure that at 90% occupancy, it would make the return that I wanted it to and get to that time gap. Once I run the numbers and I’m like, “This deal makes sense. I’m going to move forward at that point, feasibility study, and phase one,” which was $1,500. I started ordering all of these different reports.
How did you pay for all those out-of-pocket expenses?
I used my own funds. I had savings from my land wholesaling business. I use that towards the down payment and all the due diligence reports.
Did you see before you made an offer after an offer? How often do you go to the facility?
I made something like 30 offers, so I was not able to see every one of them. I do not recommend it. Once you have it under contract and you put up your earnest money at that point, I recommend taking a flight out and seeing it in person because there is something about your instinct. If you get a good feeling when you drive by the area, you look at that property, and you get good feeling, then at that point, you can start moving forward ordering all the reports.
What if you do not have the funds to close the refinance loan?
You can’t refinance.
You could get somebody to loan a partner. Get somebody to loan you the money. Tell the bank, “This person is going to give me the $40,000,” and they are going to get 5%. Banks basically have a number. If it is over this much percentage in equity, you have to personally guarantee it but they will have this threshold. I have done many deals with students and stuff where I have 5% equity. I have never had a personal guarantee. Give them a cut in the deal and say, “I need your $40, and you can get 5%, 10% or something like $40,000. You know what I’m talking about.” Do that if you can’t come up with the money.
The other solution is that if you get an SBA 7(a) loan, they will roll in the closing costs into the loan amount. Instead of the loan going up from $800,000 to $1.1 million, it would go from $800,000 to $1.13 million. It would get rolled into the loan.
Ask the bank if they can roll that money, and that is a good idea. How much were your down payment and earnest money?
The down payment was $200,000. The earnest money was $50,000. I had 30-day due diligence. If I terminate within the 30-day due diligence, then I get that money back. One of the questions I forgot to answer is, how often do I go to the facility? Every 2 to 3 months usually. I’m flying to Dallas to see my family or if I have some events there. It is a three-hour drive from there.
What’s the increasing percentage of the units going up?
All real estate is made up of land and improvements.
I do not do it by percentage as much as I look at a dollar amount. When I initially bought it, you can do the math from $160 a month to $200 a month. That must have been a pretty steep increase. I think 25% or something like that, but now, from $200 a month to $225 a month, that is a little bit over a 10% increase.
Go back to what you charged the red zone. You’ve got to remember Texas is expensive. Rents are expensive in Texas. It depends on where you are at because, as I said, 10x10s are $150. That is crazy. In Georgia, it is $80.
These are climate control, so the climate always can pull has higher ends than the other parts. I price these on a price per square foot basis. As the unit size gets bigger, the price per square foot goes down. That is how I did it. Where I live in Miami, a 10×10 non-climate control goes for $310 a month. Double the rent and not even climate.
Is the whole thing climate control for you?
The entire property is all climate-controlled.
That is good. Lufkin is a little tiny city in the middle of Texas.
It is.
Tell us about your other one or something else. Do you have anything else you want to tell us?
The other thing I was going to tell is how I do the rent increases. I can say, “Rent updated at least three months ago for the 10×20. I increase the amount by $25 and do a 30-day notice.” All these tenants have not received their rent increase. Let’s say every three months I wanted to bump people up, I could do it this way and send them an email and a text. It would automatically go out, and all these people would get rent increases.
That is called Rent Revenue Management.
This is how you can bump people up.
That is good to know you can do that in the ESS, too. He is using ESS. In ESS, can you do dynamic pricing?
You cannot. It is static pricing. If I understand correctly, what you mean by that is each unit has a different price like this unit will be $225 and this will be $200.
It is based on your occupancy. Let’s say 80% is $150 10x10s, and when you get to 90%, it goes to $170. When you go to 5%, you only have two left or something, that is at $190, and the last couple of units that you have should be ridiculous prices.
This is the pricing section, and you have to put in the total number of units and the price. I do not think it allows me to do the dynamic pricing model.
I would consider if you do have a couple left, those prices should be a lot higher than what the other prices are. What pricing does ESS versus storage? It is about the same price, honestly, now. It costs probably around $300 a month for storage. That is what the website and the back office but you do not have to use the website. You can build your own website, which is what we do. This is something Armaan that you should consider as well too like hiring a guy to build your website for you. How much do you pay for ESS?
These are all my expenses. ESS is about $81 a month for the software, then $234 a month for the call center.
You do not pay for the website?
No. The website is included.
You must have the older pricing then.
They gave me a rate increase. It was $60 a month before. The software itself is cheap, I would say.
You have the older price. It is not that price anymore. For newbies coming in, it is way more expensive. I’m pretty sure because I have had a couple of people compare prices. They are saying it is over $200 or something. That is how we are too because, with storage, we are grandfathered into the very beginning prices. We pay $75 a month. We are like you, but now, the prices are ridiculous.
Basically, what I’m saying is, I do not know if you are going to add more facilities or not. What we do is we have a marketing coach. Inside Storage Nerds, it is a guy. He creates a website for you. If you have one website, then you have no other charges except for your property management software. How did you find the people who are helping you manage the facility in Lufkin?
It was my general contractor’s wife. I asked my GC because he is local to Lufkin. He recommended his wife and she has been a pleasure to work with. Before that, I was using someone I found on Indeed.com. I put up a job posting for a self-storage manager, $25 an hour. I’ve got quite a few people interested, and that is how I found them. Do we have any more questions or should I jump in?
No. You can go to the next one.
This is lifetime climate control storage. It is in Iowa Park, Texas. It is a small little town here, close to Wichita Falls. Wichita Falls is a much bigger city. They have about 100,000 people there. Iowa Park is 6,000 people. Obviously, you are not going to get as many move-ins and move-outs as Lufkin but this is 57 units, 50 storage, and I have 7 shops here. It is nice. I get income from the retail as well as the storage. The tenants have been there an average of over twenty years. We have a donut shop, a gym, a nail salon, a jewelry store, and then across is Pizza Hut, which is also good. A lot of commercial demonstrators.
We’ve got a bank and a gas station. This facility I found on Crexi. I bought this at a little bit over 8% cabaret, which was pretty good, I would say. It was previously a dollar general. The previous owner bought it and converted all of this to climate control self-storage, 50 units in here, then we have the retail shops there. I bought this for $681,000. I gave huge rent increases to people and bumped up their revenue. Now, I’m in the process of adding 38 additional units in the back area, which was costing me $35,000. Janus International is taking care of that project for me. The goal is to sell this one and trade it up into something bigger.
This is interesting because we have one under contract. It is storage, plus commercial, plus an apartment. These people that I’m buying this building have been there forever and not gotten a rent increase in years. What happened when you increased all the rents? Were they all pissed or what?
I’ve got quite a few messages from people. Even though I only had 50 tenants but I had a waiting list. I’m like, “This warns of a rent increase.” I had a lot of move-outs. My occupancy dropped from 100% with a waiting list to 78%. A huge drop in occupancy but overall, I was still making more money because their rent increase was much more than 22%. They were more like 60% to 70% rent increases for some of these tenants. I did not do it gradually. I bumped up everybody in one shot to the market rent.
I had a lot to move out but eventually, those units started to fill up. Now, we have six units vacant, so that should get us to 86% occupancy. Given that it is a small town, the lease-up process is always slower. These are all similar size units. They are all medium-size, 10x10s, 10x12s, and we have one 10×11. I have noticed there is more demand for the smaller units and the very large ones. That is also part of the problem. That is why we are adding in about 38 units, which are all small units.
What size are your smaller units?
They are 5x10s, 5x5s, 5x7s, and 4×4. We’ve got to a little bit of a mix here.
Is that at the back of the building like inside it?
It is an unused office area. We are adding in about 1,100 square feet of storage.
You increased all the rents on the retail space too, right?
For retail space, no, because I’m locked in by a lease but there were some small increases there and getting about $4 to $5 per square foot per year on the retail.
How long are the leases locked in for?
Those are about anywhere from 1 to 3 years. I had a bunch of people that are in newer rates who are coming up at the same time. Some people had the option. They are new, so they exercise that option. It was a predetermined rent increase from $650 a month to $680 a month. Other people, we had to sign a new lease.
One of the folks was being lazy a little. He was paying $275 a month. We negotiated a rate because he was running a very small business there and could not afford to pay a whole lot. I bumped him up to $375 a month, even though that unit should be more like at least $500 a month, I would say. Only to be nice to him and keep it full because finding tenants on retail is not as easy as it is for storage.
Talk about the owner transfer process when you buy. We did not talk about the other one. When you buy them, how does that work? What did you do? How did you transfer everything?
Don’t raise rents on existing tenants more than once every six months.
He had a different name. It was ADG Climate Controlled Storage. I had to take over Google My Business account. I had to put in a lifetime. The good part about that is the reviews from years ago. I still had the five-star reviews. I did not have to start over there. I put in a call center as I did with the last facility. He did not have an easy storage liaison. Basically, he builds the entire unit. I had to add on the unit mix. I had to do all of that myself. The website, I told ESS to make it like my Lufkin facility. They did that. I implemented the call center as I have there. That was part of my process, all of that.
You have no security deposit or no admin fees.
I do not charge. I know some facilities have a $29 admin fee or something to collect additional revenue at move-in. I want to be upfront with my tenants and say, “You are only responsible for the rent. Nothing more, nothing less. There is no sales tax.” There is none of that in Texas.
That is good. How is that going? Are you having a lot of people leave a whole bunch of stuff?
No. Every tenant keeps it pretty clean in the move-out process. I have my boots on the ground going in and inspecting them. For this facility, I have two boots on the ground people. They are local. I pay them each $100 a month. One guy helps with the mowing and landscaping and helps the retail tenants if they need anything repaired. He is more of a hands-on guy. The other person manages the self-storage and helps with overlocking and cleaning out vacant units. They both have different roles, and they are both friends.
How did you find them?
The previous owner was using them, so I kept holding them on.
Somebody is asking, “Are your retail spaces triple in leases?”
No, it is not triple-net because, in triple-net, this is my understanding, they will be paying the insurance and property taxes. As the landlord, I’m still responsible for that. They are paying their own electric bills, so it is a gross lease. I’m responsible for the property taxes, insurance, and HVAC.
Basically, this is the list of the expenses?
Let’s see what this adds up to you. $80,000 a year, including the debt payment but that is not part of your NOI since that is the principal and the interest but everything else would be part of the operational expenses of running this facility.
How much was it making when you purchased it?
It was an 8% cap. I want to say about $8,000 a month or something like that when I bought it. Now it is a little bit over $10,000 a month but I had to evict the donut shop because he was not paying rent for 3 or 4 months. Now it is done in $9,200 a month but we are running that space out for $800 a month. We have some people interested, so it will bump up the income to a little bit over $10,000. If we lease up the vacant units, that should hopefully get it higher as well as adding in those 38 units at the back. I’m hoping it will be worth $12,000 a month after everything is set and done.
Would you say the retail space takes up a lot of time or is that pretty easy to manage as well?
It is very easy to manage. Some of them do a recurring direct deposit into my bank account. Some people mail me a check. Some people were doing PayPal. Some are getting money in all different ways. It is pretty easy to manage the downstate. It is very good care of the space. As I said, they have been there an average of twenty years.
Now, you bought it for $660,000?
$681,000.
How did you get funded?
I use my own money, so 20% that I saved up for my wholesaling business. I bought this in August of 2021, and we have this facility up for sale now. It is up for sale for $1.5 million.
Why are you getting rid of this one?
I can use the funds and trade them up for something bigger. That is the objective now. The land wholesaling business has been rough for months, so it has been hard to move property. I’m hoping I can sell this and use this as a down payment. Maybe go buy a $5 million or a $6 million deal and scale-up.
You are already up by your 3rd one. Are you already up to $5 million again?
That is the objective there.
Did you know if you had room to expand before you purchased? If so, how did you verify with the city?
It is such a small town, and I already had the structure in place. I was not adding more physical square footage to the building. They are like, “You can do whatever you want.” There is not even a process there. I hired Janus to take care of that expansion. For those of you who do not know Janus, it is a very big company in self-storage. They do doors and smart locks. They are all in the trade shows in Vegas and all the self-storage conferences.
Did you quote out a whole bunch of different companies to do your new construction?
No, I gave the bid, the Janus. I wanted them to bet on it, and $35,000 seemed reasonable for 38 units. It was about 1,100 square feet.
That is very reasonable, honestly.
I did not feel the need to bid it out. I was comfortable.
You do not have any other expenses because you already have the building there.
It was only some area on the back that was unused. In fact, I had not even gone back there. It is funny. I thought it was the 50 units, and that was it but when I closed on it, I flew there for the second time. I went back to the manager area. I thought he had a small office there and a desk. I did not even know what was going on there. I saw he has an extra thousand square feet that can be used, so I decided to use that for the expansion.
Are you offering to require tenant protection insurance?
I do not require it but I offer it as an add-on. If someone wants to buy it, they can do it directly from our website. I use a company called Safely since they let me keep 75% of their revenue. If you use Easy Storage Solutions standard protection, then you only keep 30%.
How much do you net a month on this one?
$110,000, then I have $80,000 in terms of expenses, so I’m making about $30,000 a year. Also, this includes the debt payment, which should not be part of your NOI. The NOI on this obviously is much higher.
What loan did you get?
This was with a local lender, once again in Dallas. It is a bank called Spectra Bank. They only have $200 million in assets, so a very small bank. They lent me 80% loan-to-value on the deal at 4.5%.
Are you going to do a 1031 exchange or will you sell and pay capital gains before buying?
I did something interesting with both my facilities. I’m not planning on doing 1031 because you need to own a property for at least two years. I did something called the Cost Segregation Analysis. All real estate is made up of land and improvements. In the improvement value, you can appreciate 100%. On Lufkin, I bought it for $1 million. $100,000 was the land value.
$900,000 was the physical structure. We took a $900,000 loss in my tax return for Lufkin. For this one, it was a $550,000 loss that we showed in year one. Basically, that helps me not pay any money to the IRS when I buy these facilities. It offsets all the regular income that I make from the land business as well as those losses that get carried forward in the future years.
The goal is to buy something bigger and never have to do a 1031 exchange.
When you sell, eventually, you get hit with a massive of like, “I will lose 60% to 70% of the proceeds to the IRS.” Before the end of 2022, if I reinvested and did another deal and I do another cost like if I buy a $5 million or $4 million deal and did a $3 million loss in year one, then I offset all the capital gains. They recapture taxes on the depreciation. Everything gets offset. Again, I will have a loss. That is the goal to buy something bigger and never have to do a 1031 exchange.
The cost at the front is what you are doing. I like it. What are you looking for in off-market deals? Do you have a standard offer letter you send the owners?
I have been sending letters to people. I go to self-storage facilities that I wholesaled. I have never bought a facility off-market because I have never found something that I liked a lot. It was still a good deal with a good amount of upside but not the kind that I want to be making on a deal. I send a one-page letter to the owner introducing myself. I’m happy to share it with a group.
Somebody says, who’s your accountant?
My accountant is Jessica Green.
Is she good?
She is great. She is based in Dallas and does my bookkeeping, filing the tax return, and all of that stuff.
Who do you use for cost seg?
Engineered Tax Services. They are based in Florida. There is a lady called Heidi. She does it for me. I had met them at one of the trade shows in Vegas.
How did you come up with the idea to do the cost seg and not do the 1031? Did you talk to your accountant about this or what?
I was listening to podcasts. I know some self-storage investors who do cost seg, so that is how I’ve got the idea to do it. This is my template early. I have the LLC, my info, my home address, and the property owner. I’m interested in buying more if you would be willing to entertain an offer. I talked about my history and my experience. I encouraged them to give me a call. I have been getting a lot of phone calls by mailing out this template to people.
Now, you are wholesaling deals? You are going to sell this one and buy a bigger deal and you are also wholesaling.
Correct. I’m still wholesaling.
If people want to get on your list in case you find a property, how can they get on your list?
If they send me their name and email, I can add them to my list.
What is your email?
Congratulations on all your success. Before you leave, talk a little bit about Storage Nerds and how it helped you. I would like everybody to understand.
Storage Nerds was very helpful. I went through Stacy’s modules and all the eCourse training. I have the weekly call with Stacy. I wanted to finish the training before I started talking to Stacy but I would ask her specific questions about how she was doing. She was running her deals, finding deals, and all of that. Once I had this Lufkin deal, it was very reassuring to have someone to run the deal with, someone with experience.
Stacy was happy to do that for me. She looked at the deal, the price per square foot than I was paying, and she said, “It is a good deal. You should go for it.” Having that community and being able to have a mentor and someone you can ask questions to was very helpful. I would not have been able to be where I am now if it weren’t for Stacy.
Thank you so much. Thank you, guys, for hanging out. I’m going to say goodbye to everybody, so I can hop onto the fund. It is StacyRossetti.com/fund if you are interested in hearing the pitch. Thank you, Armaan, for coming to hang out. I appreciate it. Congratulations on all your success.
I appreciate it, Stacy. Thank you so much.
Bye, everybody. Take care.
