“I took a 3.6 acre parcel that I owned and ran my concrete business from, and using your value add strategies, my partner and I built 3 storage buildings on it and leased them all up within 1 year. We built 3 more, 2 which almost ran the length of the property, and we added some boat and rv parking. We were about 78% full in our second year, and had consistent positive cash flow of anywhere between $10,000 to $11,000 per month. We were approached by a partnership that bought us out, and we netted roughly $400,000 above what we owed on the property and buildings. Since then, I have grown my concrete business substantially, and started 2 other businesses with the proceeds. Thanks for all your help”
George Robinson, Fortville, Indiana.
Scott,
First of all, thank you so much for your guidance in helping me purchase my first self storage facility. Last year, I bought your home study course and attended the Self Storage Academy boot camp. These gave me all of the tools needed to solidify my first deal at age 23. Your attention to detail and consistent e-mail feedback provided guidance I need to help seal the deal.
The unique tactics taught at boot camp allowed me to find a solid property that best fit my personal needs. Upon purchasing the facility, one of your "no money down" techniques saved me thousands of dollars. I now enjoy the success of remotely managing my property and still live four hours from the facility. Your programs allowed me the resources to find solid leads, close deals, and manage my investment. I look forward to our continued partnership and using Self Storage Academy tactics in all future business.
I write this letter with a great deal of pleasure. First to tell you of our success and second to provide a testimonial so that I can obtain a refund of the purchase price of the course. In September, 2008, I invested in your home study program and studied it and took action. I am pleased to let you know that by following your suggestions, we were able to purchase a 373 unit facility here in San Antonio (our home town!) at an 11% cap rate with significant upside potential as it had been haphazardly managed in the past. We closed on the facility on December 29, 2008. Our purchase price was $1,275,000.00 and we were able to borrow over $900,000.00 even in these hard credit times and even though we only had three weeks to do it and it was over Christmas!! We raised the rest through private investors. The facility right now provides about $60,000 in positive cash flow and we anticipate over $100,000.00 in cash flow within the next 18 months as we improve the property.
Your course provided the inspiration and the know how to go after this little known investment (although we went to the Texas Self Storage Convention and everyone there seemed to be multi-millionaires). You are one of the few that note that you need to work at this-it just isn’t handed to you and I appreciate that particularly. We worked hard on this one and we will continue to work hard on others since this will provide security for our families for our futures.
P.S. we are already looking for other properties and anticipate purchasing at least 4 in the next year. Got any good deals??
Mark Torok - San Antonio, TX
Date: April 20, 2009 11:02:37 PM EDT
Subject: My fist deal: 2 Locations with 2 Uhaul franchises, Less than $2000 out of pocket
Scott,
I just closed my first two mini warehouse purchases. I bought two facilities. They also came with the only 2 Uhaul franchises in town. One facility is completely built out. The other has about +/- one acre which is flat vacant and fenced, and is already zoned to build enough storage space to double the facility's size. Reality has just set in, and I could not be more excited and terrified at the same time. My residential real estate has been in the red for almost a year. The stress has been unbearable...to the point that medication has been prescribed by my doctor in order to cope. Struggling to get tenants to pay their rent is an understatement. Numerous repairs which were not budgeted for has also added to the financial strain. I traded four of these money pits in the bad part of town in order to make the down payment on the warehouses, which are in an appreciating part of Kentucky.
I did all of this and only needed less than $2000 of my money in order to close these deals. Your system is what gave me the confidence in order to embark on this new journey. The information in your courses helped to give me the edge when negotiating this deal. This is a very quick and candid testimonial. When I get some more time I will be able to go into more detail. Thanks again for putting this course together. It is 11:00 pm and still working. Take care.
