What Criteria should you use when looking for properties?
Monday, January 17
It’s fairly easy to find a property for sale. Just throw a rock and there is a for sale sign. However, that doesn’t mean that that property is ideal for self-storage. In fact, most of them won’t be. So, what are we looking for when we want to invest in a property for self-storage? First of al...
5 Rules of Thumb to Successfully Navigate Self-Storage – Management
Friday, January 14
The final rule of thumb is your management. You need to know how you are going to manage the property before you even buy it. So how are you going to manage the property? Are you going to do it yourself or are you going to hire someone to do it for you? If you are planning on building a portf...
The 5 Rules of Thumb to Successfully Navigate Self-Storage – Financing
Wednesday, January 12
Finding your dream property is just the first step to obtaining your next self-storage facility. Financing, the fourth rule of thumb, is critical to whether or not you will get to keep the great opportunity that you found. You may only have a vague idea of how you are going to buy a self-stora...
The 5 rules of thumb – Due Diligence in Self-Storage
Monday, January 10
What is due diligence? Due Diligence is the time frame needed for you to do all the research on a property to know whether or not this is an investment that is going to work for your investment model. The due diligence period allows you to back out at any time if you find something that won’t w...
The 5 Rules of Thumb to Successfully Navigate Self-Storage-Negotiation
Friday, January 07
The second rule of thumb is the offer. You need to know how to negotiate and structure the offer. You need to know how to talk to the owners of the facility so that they are willing to sell to you instead of the last investor or the next investor who comes along. A lot of getting an offer acce...
The First Rule of Thumb to Successfully Navigate Self-Storage
Wednesday, January 05
Lot Size When you are looking for properties, you want to have 5 rules that you follow. The first rule that you should add to your business model is the size of the lot that you are looking for. Typically, you want to find parcels that are three to four acres. These lots should have existing b...