The 5 Rules of Thumb to Successfully Invest in Self-Storage!!

Welcome to what could be your best year in self-storage ever. We are going to start this year by talking about what the 5 rules of thumb are to being a successful self-storage investor, and then we are going to go into great detail on how to implement each rule. As we do this, hopefully it will help you build an even bigger and better self-storage investing business for yourself.

The 5 rules of thumb are quite simple actually. The first is how to find properties whether they are vacant land or properties that already have existing facilities or properties that would make great conversions. We are going to discuss how to take the property that you found and make it into something even better.

The second rule is negotiation. It doesn’t matter how good an opportunity you found if you can’t get it under contract. We are going to discuss how to get these opportunities under contract so that you can determine if they will be the right fit for your investment model.

The third rule is due diligence. You need a period of time to research the property to make sure that it is all you hope it can be. You can’t just take the sellers word for it. You have to do the necessary research to make sure that it actually can be developed or improved the way you want it to be.

The fourth rule is financing. You want to start looking for financing as soon as you find a property. There are several ways to finance a potential property and we are going to talk about the many options that are available.

Finally, the fifth rule of thumb is the management. There are so many ways to streamline the management of the properties that you are purchasing. We will talk about how to find great managers as well as systems to put in place to make your facility run more smoothly.

As you learn and implement these rules, 2022 should be one your best years yet. As always, happy investing.