Understanding City Requirements when you're doing your Due Diligence
Monday, February 14
When you are evaluating a property for a conversion, there are a few things that you need to keep in mind that the planning and zoning department are going to require. In this blog we are going to cover, Traffic Flow, The Area Coverage Ratio, and Parking Requirements. These may seem like unimpo...
3rd Rule - How to start your due diligence on a Self-Storage Property!
Friday, February 11
Now we are going to transition into the third rule of thumb – Due Diligence. This is probably the most important part of your purchase period. You need to research your property to not only make sure that the property is what you think it is, you want to make sure that you can also make it what...
How to determine what to offer on a self-storage property!
Wednesday, February 09
There are many factors that determine how much you should pay for a property. It ranges depending on the local market and the rental rates in each area. However, you want to shoot for a range between $5 and $15 a square foot. Some markets will be outside that range, but the rates will compensa...
The Art of Negotiating with Sellers in Self-Storage!
Monday, February 07
You should always ask a seller, “Why are you selling your property?” Their answer is going to be fundamental in your negotiating. They may not be willing to tell you, which can often be an answer in itself, but sometimes they will explain that they are going through a hardship that is forcing th...
What you need in a Realtor to be Successful in Self-Storage!!
Friday, February 04
There are 2 things that you need in your Real Estate Agent. You want your agent to put you at the top of their list of buyers to notify when they come across a self-storage property. You need this because you want to be able look at a property first so you can get your offer in first. Second, ...
How to Evaluate the Demographics of a Location Prior to an Offer!
Wednesday, February 02
Before you can even make an offer on a property, you need to know if the property is located in an area that can afford self-storage. If you are not, then you might have the most beautiful, perfect facility but either your occupancy levels will be very low, or your rates will be. Either way, th...