Common Storage Facility Improvements and the Cost of Construction.
Saturday, January 18
I was recently asked if there are rules of thumb for self storage construction costs or if I just get bids. My tongue and cheek answer is yes. Yes, there are rules of thumb, and yes, I get bids. To explore this idea, I thought I'd discuss a couple very common renovations that we perform at our s...
Why Every Storage Investor Should Know Something About Taxes.
Wednesday, January 08
Taxation Knowledge Saves Investors Thousands of Dollars While Creating Other Investment Opportunities Through Seller Financing Investing in real estate can be very lucrative for the savvy real estate investor if they have a comprehensive understanding of taxation. Unfortunately, many invest...
Why I Always Make Multiple Offers When Buying Self Storage?
Friday, January 03
When dealing with Sellers there is a better way to behave then like the sleazy car salesman of the '80s. New investors are often surprised at how much emphasis I put on making offers in the “right way”. To me, "Hey, Mr. Seller, here is an offer just out of nowhere, come on and take the deal!" is ...
What is a GRM and Why Should Every Storage Investor Know How to Use It
Sunday, December 29
Self storage investing, like all investing, is a numbers game. As such, there are a bunch of formulas that come in handy when you are out there trying to find your first or next storage deal. One of the formulas that I use first whenever I am trying to figure out if a particular property has ...
Qualified Opportunity Zone creates TAX FREE Self Storage Profits
Tuesday, October 01
The only thing I like better than Self Storage Profits are TAX FREE Self Storage Profits. And that's what this post is all about. For the last 10 months, I have been getting smart on and executing what I think is an INCREDIBLY powerful investing strategy. Its been quite the process and I know we...
Do you even need to MANAGE a self storage property?
Sunday, September 15
I've never utilized a full time manager and quite frankly, I think most properties that do are wasting money. One of the key components of maximizing the profits (and value) of a self storage facility is controlling expenses. You want to spend enough on management to properly serve your custome...