How Real Estate Allowed me to Quit my Full-time Job and Work Part Time
Sunday, March 22
Do you ever dream of stepping out of the corporate rat race so that you have more time and flexibility to pursue your own interest, but know you can’t afford to quit your job right now? There is hope and you can do it with good planning and hard work. Two years ago I transitioned out of my full...
Why Owning Self Storage is Not a Passive Investment…
Friday, February 27
Self Storage is not a passive investment. I own two self storage facilities and am currently under contract to purchase a third and in all the cases the prior owners told me that running the facilities took more effort than they initially thought they would and that is why they were selling.Whil...
Should I rent a Climate or Non-Climate Storage Unit?
Saturday, February 21
Over the last five years of owning self storage facilities one of the most common questions I get is whether someone should rent climate or non-climate storage. The answer is, it depends….Below are a few factors that will help you decide which to choose:Question: What are you storing? Fine woo...
Completed Self Storage Addition
Sunday, June 23
We just completed construction building 3 at Chandler Storage on Westland Drive. This building added 34 units in Cleveland, Tennessee last Friday. This brings the total units at Chandler Storage up to 155 units (102 units at Westland Drive and 53 units at 20th Street Storage). This facility was...
Rent Down, Vacancies up in Tennessee
Tuesday, December 29
In the last year, rental rates have plummeted in the Chattanooga, Tennessee area. I have 5 rental units and just about every one of them is renting for less than it did two years ago. A property that I used to rent for $625 a month just rented out for $550 a month. The economic downturn ...
Refinanced my Duplex
Sunday, December 27
Overview of Bank Loans With interest rates at record lows I finally decided to refinance my Sharon Drive property. This will not only cut down my monthly payment, but it will also lock in my 5.5% rate for the next 30 years. My old loan was an in-house 5-year balloon at 6% with a 20-year amor...