It really takes a lot to be successful in any business today, especially in the self-storage industry.
I really think my Grandson Jackson is being trained to be successful in life. He is in the second grade and his school district has taken on teaching the Seven Habits of Highly Effective People to the children from kindergarten through high school.
The first of the seven habits is “Be Proactive”.
It has never been harder to get in or grow your self storage business than it is now. I mean real hard. Properties listed for 4% or 5% CAP’s, and selling! Large players in this business are aggressively building and buying, and very happy with single digit returns....
We make money off our self storage maintenance team!
It may show up as an expense on the P & L, but it sure makes us a lot of money.
Here is how.
There are a lot of complicated definitions of a Capitalization Rate (CAP rate for short). They are interesting, but mostly irrelevant. Let me give you an easy to understand way of relating to and thinking about a CAP rate. If I (or anyone) purchased an income...
Take look at this year’s Self Storage Association’s annual convention. It was a pleasure meeting many of you and based on what you have told me you want, I am introducing the Self Storage Quick Start Academy in OCT. 2015.
See what courses are being offered in this online, step-by-step training that is easy to use and very effective in the Bata testing. Each class offerings will have the forms and check list we use as we purchase self storage facilities and grow our company towards the goal.
I love this business and want to share some of our resources so that you can get in, or grow your company to the next level.
It could be said that the most important people in the self storage business are the Managers. At least in our case, that is so.
The public relates to them as the face and personality of the facility, not the Owners. Customers for the most part don’t even know we exist.
Let me introduce you to some of our Managers.
We have spent a lot of time discussing equity. But equity usually only accounts for 20% to 35% of any new Self-Storage deal.
What about the rest of the Self-Storage money?
On a Friday afternoon, in September of 2012, I sat at the kitchen table of my operations partner presenting yet another Self-Storage deal to an investor. This was one of her & her husband’s close friend.
The whole thing made me very nervous.
Interested in raising money for a Self-Storage deal you want to buy?
I have done it many times. Raised many millions of dollars, and here is what I do.
This works great and can help you raise millions of dollars.
“Show me the money”. It’s funny, having been a buyer of Self-Storage most my life. But now that I am selling one of our facilities in today’s climate, I find myself repeating the old saying from the Jerry Maguire movie, “Show me the money”. I can’t tell you the number...
Free video series
How Mark approaches finding, analyzing and getting into self storage, in three short videos.
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