Another example that location, location, location is irrelevant
TURNING OLD WAREHOUSES INTO NEW STORAGE UNITS
Most commercial property investors invest at 6%-9% CAP on retail properties in nice areas because 6%-9% CAP is about the best they can do in nice areas, everyone wants in allmnice areas and the competition is brutal, the location location location curse, lol.
However, why compete when you don't have to?
I go to a "knife and gun area", to thee hood, next the the freeway, basically cracktown, and buy an old vacant warehouse that I turn into storage units and get 33% CAP, lol.
And I have almost no competition, the bank begged me to buy this thing for pennies on the dollar, lol.
SO WHICH ONE IS A BETTER DEAL?
Well, just look at the numbers, 9% CAP or 33% CAP?
Tough choice huh?
There are way many dumbasses however that prefer the good areas at lower CAP and that is good because they make good buyers for us.
But you must agree that a 33% CAP return is more than 3 times better than a 9% CAP return, right?
Well worth it being in the hood, hood, hood, lol.
But how do you turn an old vacant warehouse next to the freeway into fresh newstorage units?
Well, you put your overall, grab your tools, and get to work...
Lol... just kidding... you will never swing a hammer...
So then how do you turn an old vacant warehouse next to the freeway into fresh new storage units?
1) You call your General Contractor and tell him to turn this old vacant warehouse next to the freeway into fresh new storage units, like a Uhaul, the examples are numerous, just point one out for him to copy.
2) Once the conversion is completed you tell your agent to rent the units out for you and take care of all marketing and facility management preparations.
3) You pull a selfliquidating loan from the mutual fund you manage so it pays for itself (TAX FREE) and pocket the monthly rental cashflow (TAXABLE).
That can mean like $2,000,000 tax free in your pocket and about $20,000 in monthly cashflow, caching!!!
Let's not forget you own a $4,000,000 newly remodelled warehouse building next to the freeway, so add up to $5,000 a month income for the billboard you put on the roof, visible from the highway.
Screw "location, location, location" huh?
There is obviously much more to it, this sample lesson is simplified, and I can teach you if you are coachable.
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