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Keith Jorgensen - A Los Angeles Agent

I was approached by a friend regarding a business opportunity that to me was almost too good to be true. I have been in the real estate sector for over 13 years. During that time I have managed apartments, bought and sold apartments, became a realtor, listed homes for sale, bought homes for clients, "flipped" houses and eventually became a custom home builder in Southern California. I have done everything associated with real estate. I always say the men who were at the top of the game are those who owned several large apartment buildings, self storage or mobile home parks. Where I live, these opportunities have long since past since land is so scarce, and the cost to build any of these would surpass several million dollars.

As an investor, I look at the ROI (return on investment) when "flipping" a house or the Gross Multiplier when purchasing an apartment building. If I could make $50-$100k by flipping a house, I would do the deal. In an appreciating market, this is easy. Today, in a down market, this is near impossible. The apartment market has held strong, and so have rents because many people still can't afford to buy a home. But with apartments running a gross multiplier of between 15-22, the apartments do NOT cash flow. That is when I started looking for alternatives.

When I heard about American Portable, I instantly thought of the units as a cross between apartments and self storage. The one thing I particularly liked was the cost of each unit. You could actually buy 200 American Portable Units for less than the cost of a triplex in So. California. The income alone from these storage units is over 10 times the amount of money that the triplex would produce BEFORE expenses. To me, this is a natural progression from real estate and one that has an unlimited growth potential because you can never be "full" as in a fixed storage business or have a "full" building as with apartments. You simply order more units and get a bigger warehouse. What a great problem to have!

Thanks,

Keith Jorgensen

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