What if one buried document could cost… or save…you millions?
Joe Downs sits down with real estate attorney Jason Mandel to unravel the nerve-wracking tale of a nearly disastrous storage facility acquisition, dubbed “The Storage Attic.”
With only minutes left in the due diligence period, Joe discovered the property was four feet underwater in a flood zone… not the two feet the 87-year-old seller claimed. The insurance premium? A jaw-dropping jump from $12,000 to $81,000 a year.
Jason reveals how quick legal thinking and strategic contract clauses narrowly saved the deal… and Joe’s investment.
They also dig into other cautionary case studies from students, exposing pitfalls like outdated broker forms and zoning blind spots.
This episode proves that specialized legal expertise isn’t a luxury… it’s your lifeline in self-storage investing.
WHAT TO LISTEN FOR
:13 What happens when a deal looks perfect but hides a fatal flaw
3:12 How did a delayed survey nearly cost millions
6:45 What legal options exist when due diligence runs out
9:47 Why are standard broker contracts dangerous for buyers
25:56 How can zoning issues destroy a deal after closing
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JASON MANDEL, REAL ESTATE ATTORNEY/PARTNER AT ROYER COOPER COHEN BRAUNFELD LLC
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