All Forum Posts by: William Thing

Hey @William Thing! I’m glad to hear you enjoyed the book and podcast. As @Michael Margarella mentioned, AJ Osborne also has an awesome book and I recommend his podcast too.

As I mentioned in the last one third of the book, I recommend getting a coach or mentor and joining a mastermind. I see in your second post above that you offered to connect with somebody for mentoring. That’s great. You should also connect with @Scott Meyers. Scott has some amazing resources and training in this space.

If you’re in an area where there are self storage owner/operators, I would walk into their office and see if they have any opportunities available for mentoring or employment.

Good luck and happy investing!

Hey @Paul Moore! Thank you for your advise. I do think getting a coach/mentor and joining a Mastermind in this space would be ideal. Will look into the Self Storage Academy. I think with everyone's response I am on my way to my first self-storage goal soon! Thanks again for the recommendations as well.

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Quote from @Scott Meyers:

William, The Self Storage Academy teaches people how to Find, Evaluate, Purchase and manage Self Storage Facilities, with a heavy focus on Underwriting/analysis. The Self Storage Podcast is also a great way to immerse yourself in the business.

Thank you @Scott Meyers I will definitely look into the Self Storage Academy and give the Podcast a listen!

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Quote from @Michael Margarella:

@William Thing AJ Osborne wrote a book and has a great podcast about self-storage. I was able to get started in self-storage by leveraging relationships, so I would advise that you put yourself in the rooms with folks who you may want to work with. Putting those pieces in place are important so, when you do find a facility that you want to move on, you are ready to do so.

Awesome, Thank you for the rec @Michael Margarella! I just ordered the e-book! Is there any specific episodes for that podcast you recommend I start first?

I agree with building the relationships, I've started tracking my relationships/contacts with Hubspot and using tips I got from the book Multifamily Investors Who Dominate. I think one of the things I feel I need is to build a team before getting my first unit, but I'm not sure who I would need on my team. I feel I want to learn how to analyze deals, and get into deal flow, as well as raise capital.

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Quote from @Ronald Rohde:

Are you on the major email blasts? they are still sending out deals. Mathews, MM, etc.

I am not. Would you be able to point me to the right place to be added to the major email blasts @Ronald Rohde

1 Vote

Quote from @Scott Hotchkiss:

William, I would search the comps on a recent storage sale. Look at comps that might not be meeting DSCR. Contact these owners if you can, or send them a letter. Introduce yourself to a marketing person at a local title office in the area you are prospecting and they may be able to provide a list that meets your criteria. They also know quite frequently who, where, and what is available. Good Luck! Scott

Hi @Scott Hotchkiss I've been searching for commercial storage units on loopnet and crexi (also various commercial broker inventory lists). Is there a place you rec looking for comps on recent storage sales? Sending a letter sounds interesting is there an example I can DM you for? Will try to local title office, never considered that. Thank you!

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Would also like to add if anyone is open to teaching how to analyze/deals. I would like to offer any services I can provide for your real estate needs such as analyzing any of your prospective deals!

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Hello BP Community!

I'm looking to purchase my first Self-Storage unit. My biggest hurdle at the moment is finding & analyzing deals for self-storage units.

I have been trying to consume as much information as I can from various methods such as BP forums, podcast, and books.
Actively looking at loop.net and similar sites to look for self-storage units as well as come up with creative value-add ideas for prospective units.

What advise would you give to someone at this stage/starting out like myself.

Any resources that you would recommend (books/podcast/mastermind/courses/etc) would be extremely helpful as well.

Books I've read in this space:

Storing Profits - Paul Moore - This book and podcast with Paul Moore pulled me into this space :)
Raising Private Capital - Matt FairCloth
Long Distance Real Estate Investing - David Greene

I look forward to your recommendations/response!

Best,

Will

2 Votes

Awesome! Love seeing your post on this forum Henry!

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@Kevin Reynolds I would be interested and could grab coffee to come up with mastermind/meetup ideas.

1 Vote

Seattle, Washington

All Forum Posts by: William Thing

William Thing has started 1 posts and replied 14 times.

Post: House Hacking / Short Term Rental Meetup

Post: Looking to purchase my first Self-Storage unit

Post: Looking to purchase my first Self-Storage unit

Post: Looking to purchase my first Self-Storage unit

Post: Looking to purchase my first Self-Storage unit

Post: Looking to purchase my first Self-Storage unit

Post: Looking to purchase my first Self-Storage unit

Post: Looking to purchase my first Self-Storage unit

Post: Self Storage- Making an offer on land

Post: Seattle MasterMind Group?