Why should you Include Contingencies in Your Self-Storage Contract?
Wednesday, June 14
Whenever you make an offer, you need to make sure that there is a way to back out of the contract. When you make your original offer, you make a lot of assumptions. You assume that the seller has told you the right cash flow, but until you can review the books, you don’t know for sure. You ass...
What are the Key Components of a Self-Storage Real Estate Contract?
Monday, June 12
When you are writing a self-storage real estate contract, there are 4 areas of the contract that you need to pay careful attention to. First, the purchase price. There is a delicate balance between not offering too much and not insulting the seller to the point that they won’t even counter. Se...
Why is it Important to Maximize Your Cash?
Friday, June 09
Pretend for a moment that you just inherited $2 million. You have enough cash to go buy a self-storage property for cash. While this is a great investment, it may be better to leverage your money and buy several self-storage properties with loans instead. Why don’t we do a few examples with pret...
Self-Storage and SBA Loans. Why Are These Ideal Partners?
Wednesday, June 07
If you are not familiar with SBA loans, today is the perfect day to talk to an SBA lender. If your current lender doesn’t specialize in SBA loans, you want to find a lender that does. You don’t want your lender to learn how to do SBA loans on you. They are complex loans. Your lender needs to ...
How Do You Structure Partnerships in Self-Storage Investing?
Monday, June 05
How do you structure your partnerships? The easiest way to structure your partnerships is to just do it. There are so many different potential partnerships out there that the important thing is to just move forward. If you get paralyzed by trying to come up with the perfect partnership scenari...
How Do You Take One Partner and Grow in the Self-Storage Industry?
Friday, June 02
Sometimes getting started just takes having one person believe in you enough to invest in you. But what do you do when they run out of money, or they don’t have enough money? How do you keep building and growing after that? The cool thing about people with money is that they know other people ...