We are under contract on a facility and I want to make sure I share this project journey with you so you can see the exact steps we take during the DD process. Teaching from theory is one thing. Walking you through an actual deal in real time is a whole different ball game. This is a good one as I've underwritten a lot of deals and have never come across something quite like this! This facility has 110 units. 35 of those units are past due for a total amount due of over $100k! Some made their last payment as far back as April 2018.. Another 19 units are being used by the owner and family for FREE! Current street rates are about 40% below market. No internet on site.. No Website.. No software.. No one answering the phones.. No P&L.. No management reports.. No tax returns... Just a spreadsheet rent roll and a handful of bank statements. Currently collecting about $2,500 per month. We should get that up over $10k per month within 3 years conservatively. Current 3 mile market supply = 17 square feet per capita. Average HH income = $66k 3 Mile Population = 29k people Under contract for $29 per square foot! Drop your questions or comments below! 👇

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Curious to see if any of the facility owners here pay a landscaping company, or add additional money to your BOG monthly wage? We have done both, and I find that it could be a good savings if you just add extra money for your boots- or include into the initial list of duties upon hiring.

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Curious to know what everyone's marketing strategies are, how much you are spending monthly and how effective they have been for you. Are you using: 1. FB Marketplace (Free OR Boosted)? 2. Google Ads 3. Only facility signage because it's free and I am the best facility in town 😄 4. Other channel (specify if willing :) How much are you spending monthly? How many move-ins on average? obviously this is seasonal but ball park If you can include # of units and the population within 5 miles, that would bring a more complete picture.