Using Direct Mail to Find Self Storage Deals
Thursday, March 05
Direct mail is tangible, targeted, scalable and trustworthy. As a result, direct mail is delivering better-qualified leads and, in turn, more deals! One thing’s for sure - everybody checks their mailbox! Sometimes we build storage facilities like the Conversion I’m currently working in Dillon, S...
Six Powerful Effects from The Tribe of Millionaires
Wednesday, February 26
I recently read The Tribe of Millionaires and found it valuable so I thought I would share a quick summary with you. This book is anything but subtle. It talks about making choices, and how the effects of these choices could change the course of your life. What follows is a quick rundown of each...
Cash Flow or Equity; Which is Better when it comes to Self Storage?
Tuesday, February 18
Generally speaking, there are two primary ways to make money in self storage; cash flow (on a month to month basis) and equity (realized on the back end). Neither is inherently better or worse than the other but the investment strategy you choose should reflect the “type” of profit that best achi...
Seasoning Periods and Blanket Mortgages: Self Storage Financing Talk
Sunday, February 16
While I have used blanket mortgages to buy or refinance properties in the past, I’m not sure that I would again unless I had a very good reason to do so. In case you aren’t familiar with the concept, a blanket mortgage is a loan where more than one property is used as collateral. There are cert...
When Using Private Money, Are Storage Deals better as Debt or Equity?
Thursday, January 30
As storage investors, we talk a lot about how to get our deals funded. And while what follows is clearly an oversimplification, I want to share some insights that will help guide you. When faced with raising private money to fund a deal, new investors often wonder about the best way to structure...
How Small is Too Small When it Comes to Self Storage?
Friday, January 24
I’m often asked, “Mike, do you have a ‘minimum size’ storage investment that you will get involved in?” And my response is admittedly a conditional one. The truth is, my ideal investment (whether we are talking about facility size or some other characteristic) will differ from yours. Simply put...