All Forum Posts by: Scott Meyers

Isaac, 

What do you mean - Self Storage Construction laws?

Preston, 

You need to start by getting the actual unit mix, and a copy of the P & L.      I can help a bit after that, and/or you can also look at some of my other posts where I've helped people with a cursory review of their facilities. 

Cheers. 

Welcome aboard Shane! 

Kudos as well for starting at age 20.   

I agree with what was said above by Howard, Isaac, and Michael.  The one thing I would add is that while you are researching the asset class, be certain that you get the proper education and align yourself with individuals that are SUCCESSFUL in the Self Storage Business, and discard the advice from others who do not have experience in this incredible sector of Commercial Real Estate. 

Check out my other posts here on BP, or reach out via private messge if I can point you in the right direction. 

Cheers, 

Come join our team as we break through the barriers on private money for self storage real estate investing. For a full list of event details please visit: www.selfstoragemoney.com

What you will be learning: 

• Accredited investors, Debt Partners and Equity Partners Defined, and how we approach each of them.
• CrowdFunding - How to successfully use crowd funding sources and various group funding websites to purchase a self storage facility.
• How to get Private Lenders to partner with you, even if You've never done a deal and your credit is "shakey"
• How and where to find Angel Investors, Deep pocket Individuals and Big Money Associations.
• The SEC rules and laws you must know to protect yourself when approaching the private investors.
• How to get Private lenders begging to do deals with you – at rates and terms you never thought possible.
• The Proper way to Build a winning Credibility Kit and website
• The Proper way to create an attractive investment offering, and the best ways to present to Angel Investors, Life Insurance Companies, REIA Clubs and Individuals.
• How to become a part of our own syndicate and participate in buying deals with me and my team, and How to earn an acquisition fee of $10,000 to pay for this event, PLUS $10,000 each and every time you purchase Your own deal or refer one to us!
• AND MORE

This is your opportunity to see cutting-edge syndication strategies that are creating a Killing for a "Select Group" of Commercial Real Estate Investors and Self-Storage Professionals. Those that are clinging to the old methods of investing are slowly dying off. Just take a look around... But those that are quick to adapt are taking control of the marketplace and creating serious wealth right in front of your very eyes by tapping into the over 32 Billion Private Money Arena. For this reason, I have put together a power team comprised of myself, My SEC Syndication Attorney, and my Real Estate 401k & Self-Directed IRA expert, for our annual Private Money & Syndication Summit. At this special Mastermind with my POWER TEAM, We'll be revealing what we've been up to that has resulted in 7 figures in "found money" for me and my team.

For a full list of event details, bonuses offered and to register yourself, please visit: www.selfstoragemoney.com 

Howard, 

I think I mentioned Bob Copper the other day when we chatted. He's with Self Storage  101.  

I don't have any experience with Sigel. 

Cheers, 

Terry Campbell with Live Oak Bank - they specialize in SBA 504 and 7a loans for purchasing, developing, and refinancing Self-Storage Facilities. 

He's funded many of our deals as well as many of our students, and he attends all our live events. 

Tell him I sent you. 

Hey Matthew,

There are many ways to increase the value and force appreciation such as: 

1.  Cleaning up the Aged Receivables by enforcing your state's lien laws.  by the way, get to know them, or you could land in hot water if you don't follow your state's guidelines.  

2.  Raising rents on all customers not paying current street rates

3. Performing a CMA to determine whether to raise your street rates.

4.  Market the facility to fill vacancies - adding/updating a website so that it is not only responsive, but can also reserve and/or rent units online. 

5.  Hire a Rock Star Manager that can lease it up and collect the rent 

6.  Add as many of the Ancillary Profit centers in Self-Storage that you can such as selling locks, boxes, moving supplies, pack n ship services, truck rental, renter's insurance, etc. 

Above all else, learn the business and manage it like a pro, not like the thousands of Mom and Pop owners that we buy our properties from, who have allowed their businesses to fall behind. 

This is simple business, but it isn't easy if you don't take the time to learn it. 

And if you find you aren't interested in buying it, give me  a shout.  

Cheers! 

Hi Howard, 

We Love the asset Class - 13 facilities and counting....

I ditched over 500 single family and apartment units about 10 years ago, and since then, we have been blessed abundantly.   

We mostly acquire existing, but we are also developing and converting big boxes. 

I Live in Indianapolis, and we own/develop nationwide, with a concentration in Texas. 

Feel free to reach out privately if you wish to connect. 

Cheers, 

Welcome Tyler! 

Smart move looking into Self-Storage! 

If you want to learn more, you can look at several of my posts, as that's ALL that I do, and we're pretty good at it. 

Keep Self-Storage as a keyword in BP and you'll get looped into any/all discussions on the topic. 

Talk soon, 

Craig, 

Yes, the 35% includes EVERYTHING except your loan expense.  

And Dude, if you pick it up for $40k, I'll give you a FREE ticket to my Self Storage Academy 3 day intensive so that you can learn more about the biz, and present your deal at our "panel of successful deals" session. 

Keep me posted.