Are you in the self storage business? If so, are you a member of the SSA (Self Storage Association)? How about Inside Self Storage (ISS)? I found it strange when I first got in the self storage business that there were two trade organizations that both had great...
I get a lot of questions like, “I'm looking at this site," or, “I’m looking at this facility. How do I know if I should move forward?” That's hard to answer because it depends. Depends on what? Why you want to get into the self storage business. What is your...
So you've decided to invest in self storage. You know the benefits of self storage over other types of real estate. If you need more information about those benefits, click HERE. Now the decision is how and where to invest. This is assuming that you don't want to be...
If you are looking for a business opportunity or a commercial real estate play to invest in, I'm sure self storage has caught your attention. It is most likely something you thought about but never investigated seriously or never made a real move on. Now you are...
I don’t have a crystal ball to look into the future and see what is coming for the self storage industry. But I don’t think I need one either. We are moving into the “hyper supply” phase of the economic cycle in many markets. If you are not sure what that means, click...
“Begin With The End In Mind.” Even my 10-year-old Grandson has learned this because his school teaches the Seven Habits of Highly Successful People by Steven Covey. "Beginning with the end in mind" is Habit #2 of Steven Covey’s book. It is also a very important part...
"You can never lose money if you're selling your self storage facility for a profit." At least that is what I'm telling myself. We recently received an offer from a REIT on some of our self storage expansion projects and the value is what we projected in year 10, not...
We create a Proforma for every self storage project before putting it into service. If I've had one consistent success in the self storage business it has been hitting or beating the Net Operating Income (NOI) projection in these Proforma. This has been a big part of...
Many of us in the self storage business work with investors. We use their money to buy self storage, and give them returns on their money in exchange for the use of it. We often agree to return all their money within a certain time period plus any unpaid "Preferred...
When I saw how self storage worked, I fell in love with it. https://youtu.be/qCVKyz4fvQQ In the mid-1990's I was a commercial real estate professional. I sold all kinds of investment real estate but I also had a company that focused on office building sales, leasing,...
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