How do I negotiate with sellers when I am make offers on self-storage?
Monday, August 15
When you are making offers on self-storage properties, one of the most important things is how you structure your offer. Many of these sellers have had these properties for a very long time. Some have been in the family for generations. As a result, there is a lot of emotional attachment to th...
What is the first thing I should do to invest in self-storage?
Friday, August 12
If you want to invest in self-storage, you need to start looking for properties that you can make offers on and then make offers. I know that many of you are thinking, wait a minute, I don’t have a business entity set up yet. I haven’t designed my business cards much less ordered them. I don’t...
What characteristics does the Ideal self-storage property have?
Wednesday, August 10
What do you need to look for when you are searching for a self-storage property? Here are four features that can really help your bottom line! Everyone may have a slightly different business model. However, our business model involves finding properties that have three to four acres of land. Th...
Determining Your CAP Rate Based on Your Competitors Rates
Monday, August 08
When you are trying to determine if you want to buy or build in a market, you need to be able to determine what your competition is doing. Part of that process is determining what your competition is charging and whether that is a discounted price or their regular price. If your competition is...
Raising Self-Storage Unit Rental Rates is a Dance
Friday, August 05
When you are in the self-storage industry, you know that markets can become stagnant because some people never raise their rates. You don’t want to be one of these facilities. You want to make sure that you are regularly raising the rates within your facility so that you are staying up with the...
Rental Rates in Self-Storage are a Science
Wednesday, August 03
You never charge the same amount for every unit in your facility. There is a science to managing your rates and you want good software to help you manage your pricing. You are going to have bargain priced units that are farther away from the entry door and premium units that are easy to access....