Need Self Storage advice!

[Coy Struckhoff]

Hey everyone! My wife and I are going to look at our first self storage deal. I’m not to familiar with self storage but we really what to try it out! What things should I ask the realtor and facility owner? So far all I know about the facility is that they are asking $200000 for a 71 unit facility, and from what I can find the taxes are $3100 a year. We have a list of questions but I would like some other inputs on thinks to ask. Also, what are some baseline numbers to shoot for? Thanks in advance! 

[Kevin Bledsoe]

@Coy Struckhoff

Coy, I focus solely on the brokerage of self storage in the Northeast and Mid Atlantic. There are a lot of things that roll into valuing the site and cash flow. I would need to know revenue, expense breakout, age and condition of the facility and your proximity to the facility to help guide you on an operations strategy. I’ve also managed more then 100 properties in 14 states in my operations portfolios over 16 years in the self storage industry. More then happy to help if you want some assistance.