video1.0<iframe src="https://www.loom.com/embed/b262da326858437b945d4dccc7d9c3c2" frameborder="0" width="1280" height="960" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>9601280Loomhttps://www.loom.com9601280https://cdn.loom.com/sessions/thumbnails/b262da326858437b945d4dccc7d9c3c2-e9dd8c5d5bb61c14.gif3402.66The meeting focused on strategies for acquiring storage facilities, including visa considerations, underwriting methods, and negotiation tactics. Participants discussed challenges like high insurance costs and the complexities of evaluating properties with mixed-use components. Key actions include following up persistently with brokers and using creative financing solutions. ### Visa and Storage Facility Acquisition 0:00 - Ali Zain discussed the need to acquire a storage facility to qualify for an E2 visa. - Ali is consulting with a lawyer about the visa requirements, which include owning an active business. - Anthony Kusky and Ali discussed the possibility of a seller-financed deal to meet visa requirements. - Challenges include the high cost of storage facilities in Florida and insurance expenses. - Ali mentioned a Canadian lawyer in Fort Lauderdale who runs a Facebook group for Canadians moving to Florida. ### Insurance Costs and Property Risks 2:19 - Anthony Kusky and Shane W. Chapin discussed high insurance costs in Florida and Kansas. - Shane mentioned wind risk and flood insurance as factors in Kansas. - Anthony expressed concerns about high insurance expenses in coastal areas like Port Charlotte, Florida. - Shane shared a cost-saving experience by removing flood insurance from a property in Kansas. ### Support for New Investors 6:05 - Dave DeMink emphasized the meeting's purpose to support new investors like Heather and Will. - Heather expressed challenges in making offers due to properties having houses and her inexperience. - Dave advised focusing on the value of the storage facility rather than just cap rates. - Heather was encouraged to use underwriting to determine offers and consider creative financing options. ### Evaluating Properties with Mixed-Use Components 14:53 - Dave DeMink advised evaluating storage facilities and residential properties separately. - Heather was advised to consider selling or repurposing houses on storage properties. - Scott Speer and Anthony Kusky discussed the higher expense ratios for residential rentals compared to storage facilities. - Dave suggested creative solutions like using houses for on-site management or selling them separately. ### Negotiation and Offer Strategies 25:40 - Will Ferretto discussed a seller-financed deal and the importance of not being labeled as a low-ball offerer. - Dave DeMink emphasized the importance of context in offers and maintaining integrity with brokers. - Will shared his experience of using detailed underwriting to justify offers to brokers. - Dave advised persistence in following up with brokers to stay top-of-mind for deals that might fall through.