All Forum Posts by: Shronda Sledge

We pivoted to self-storage a few years ago. One of the drivers of self-storage is the “four Ds”: downsizing, displacement, death, and divorce. All of those things, unfortunately, increase during a recession, providing a safer base case for self-storage than some other assets. Storage occupancy rates during past recessions has remained relatively stable

For example, during a recession, when folks downsize from a 3 bed/1 bath to a 2 bed/1 bath, those people, historically, keep their belongings and put them in storage.

Also, during inflationary times, self-storage operators can better manage rates because most leases are month-to-month. We're thus able to evaluate our rates, and keep pace with inflation, on a monthly and quarterly basis.

Michael,

Great post and I learned a lot from your insight. I'm considering getting in self storage in the next 3-5 years. Do you have any advice for a beginner?

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I agree with Doug, I wouldn't open a LLC just yet. The more properties, you acquire it should be established. If you're just starting out, I wouldn't contend with it.

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Jersey City, New Jersey

Rent is due on the first and we have a 5 day grace period. After the grace period is up, we enforce the late fees. The next step is filing for evictions.

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I agree with Carlos. Perhaps sending an e-mail or a mailer.

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Hartford, Connecticut

Thank you everyone for the help! I will look into Loopnet and check the forums.

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Good morning,

Where would I be able to find mobile home parks for sale in Virginia Beach? I did a Google search but there were no good results.

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Good morning,

I'm learning different markets to invest in. Often times when I use sites like city-data.com or datausa.io, I receive conflicting information. While this is expected, I want to use a tool that can give me the closest accurate information as possible. Has anyone used census.gov or any other tools?

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Ok. That makes perfect sense. Thank you!

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I gathered some information on ListSource for two different markets. The current area that I'm in, has shown 22 cash transactions within the last 12 months. The market that I would like to virtually wholesale had 74 cash transactions in the same time frame. What would be a good average transaction for cash buyers that would let me know if the market has the potential to be a strong one?

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I will look into that. Thank you!

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All Forum Posts by: Shronda Sledge

Shronda Sledge has started 9 posts and replied 27 times.

Post: 9 Fun Facts About Commercial Real Estate

Post: LLC or Not?

Post: Would you kick someone out if she keep paying rent late

Post: Can you get in trouble for cold calling?

Post: Mobile Home Investing

Post: Mobile Home Investing

Post: Market Evaluation in Different Markets

Post: Determining Strength of Market by Amount of Cash Buyers

Post: Determining Strength of Market by Amount of Cash Buyers

Post: Understanding Virtual Wholesaling