I'm flipping single family homes but want to acquire mini storages. Whats my first step?

I'm 21 years old & have flipped several homes in the Phoenix area but am wanting to tap into the cashflow of mini storages. Any help would be greatly appreciated!
In Buying Property - Asked by Ryan J. - May 26, 2009
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Answer(s)

Paul S.
Broker/Agent
Glendora, CA

You will no doubt need some cash? While it may be possible to find seller carryback, if you rely on a lender for financing you will need a fair amount down (probably 35%) and will also have to deal with debt coverage ratio (DCR). Depending on the DCR you may have to put more than 35% down? If you don't have enough cash accumulated from your flips consider taking in a partner. For more info call me at 800 554-7362 ext. 208 or email at paulsylvester@remax.net
Paul Sylvester, CCIM

May 27, 2009
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