Do you know you can talk to the person you hire for a self storage feasibility report and ask them to focus on a few additional things before you engage them? At least I do. So far, it has worked. Now...
A Quick Tip on Getting Creative When Doing an Expansion
As I discussed last week, I love doing self storage expansions. But sometimes, as I analyze an expansion and run a preliminary analysis figuring out how much additional self storage I can get on the...
Three Mistakes to Avoid When Underwriting an Expansion Today
Last week I told you I love self storage conversions. I also love self storage expansions. Like conversions, we have made a lot of money for my family, partners, and investors. I have also seen many...
The Top 3 Mistakes People Make When Converting Self Storage
I love self storage conversions. I have made more money on self storage conversions than any other form of self storage projects I have done. That doesn't mean conversions are all I do in the world of...
The Number One Rule for Selling a Self Storage Project
I have written and talked a lot about buying self storage. I figured it was time I wrote about selling self storage along with my number one rule for selling a project. As many of you know, I talk a lot...
Supply and Demand Variables Besides Sq. Ft/ Per Capita – Is It Time to Revise Our Thinking?
About twice a year, I get on my soapbox and pontificate about using sq. ft/per capita as the sole and primary basis for determining self storage supply/demand in a market or trade area. It’s that time of...
This Thanksgiving I Was Grateful for the “Slowdown” in the Self Storage Space
Is there really a slowdown in the self storage space due to rising interest rates? There appears to be, but for me, at least, the total picture isn’t quite in yet. Like our world today, the self storage...
Are You A Self Storage Developer or Operator?
I have noticed an interesting thing as I have coached and consulted people over the years getting into the self storage business. Usually, someone early in their self storage journey is attracted to the...
Debt During Inflationary Times
There is a lot of grinding of teeth and wringing of hands around rising interest rates and buying self storage today. I don’t want to minimize the impact higher interest rates can have on projects and...
How Much Money Does It Take To Get into Self Storage?
I get asked many different self storage questions, but this one seems to come up a lot. Here was the exact question: “Hi Mark, …The biggest hurdle I am trying to overcome is determining how much money it...
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