This episode will be more self-promoting than normal, but I will cover material that will be important to you regardless of whether you are joining us in this upcoming QuickStart Self-Storage Boot Camp on March 8th & 9th, 2024.
Many things are changing in the economy and the self-storage industry. This will be a very timely and important time to hold a bootcamp.
Here are the Five Main reasons I think you should consider joining this particular bootcamp.
- See How Small Investors Are Getting in Projects Today.
The industry has really altered in the last five years. There are big players in the space now. A major consolidation is occurring. Between REITs, which are growing exponentially, and a large number of well-capitalized funds in the space that have to place large blocks of money for smaller investors, our entry points are narrowing down.
Now, consolidation has some advantages for us when we exist properties, but it can make it hard today to buy opportunities.
So, we will cover what opportunities are out there today for us that the bigger players are not so focused on and how to analyze them to see if they work for us.
- Current Benchmark Numbers.
The world has really changed over the last couple of years.
We will cover the benchmark numbers we use today as we analyze and look at opportunities.
Such as how many square feet I can add on an expansion. Conversion?
What are the current interest rates to use during construction, after amortization, long-term loans, short-term loans, and SBA loans?
What equity do banks require from us?
What are the current construction costs? Line by line, and what per square foot estimates should we use for different types of storage opportunities in our preliminary Proformas?
How can we get these numbers down? I just recently dropped over $10 PSF off a construction budget. I will show you how.
All of these topics and more will be discussed using today’s benchmark numbers so you can (1) quickly determine if a project will work for you and (2) drill down and see the potential risks/returns.
- Design a Specific Business Strategy.
Early on in the boot camp, we begin to design your specific strategy design for your storage business.
Before determining your risk/reward on any given project, you need to know your return criteria.
It is different for different people, depending on a number of factors such as the reason for getting in the business, your cost of capital, how much money you are working with, if you have investors, how long you plan to hold, and many more.
We give you the questions and the space to begin to develop that strategy, so as you look at opportunities, it gets straightforward. A deal is a Yes. A No. Or No, But it could if…
My self-storage business transformed once I got clear on my return requirements.
- The Bootcamp Will Be Small, So You Can Get a Lot of One-On-One Attention (If You Want It).
These Bootcamps are very interactive, so by design, they are small.
You will have the experience of being part of a community, getting ideas, and being inspired by others in the group as the two days unfold.
No one in the group will compete directly with you, so everyone is free to ask questions, share ideas, and get support.
It is a safe space to grow and begin to spread your storage wings if you haven’t done so already.
- The Follow Up.
Most programs end after the weekend is over.
Not so with the QuickStart Academy Bootcamp.
What makes the difference is implementing what you learned and keeping the inspiration going after the program is over.
That is why I have discovered the follow-up is as important, if not more than the Bootcamp itself.
You will be together as a group in the follow-up and have a small group of people who have already been through a boot camp or one-on-one training with me in the Inner Circle.
This follow-up is included in the Bootcamp tuition.
You will be able to share your successes and challenges and get feedback from the group and from people who have been in the place in the process you will be.
They will share what they did, what worked and didn’t work, and suggestions that can make a big difference as you implement the strategies we will discuss in the weekend program.
I have seen friendships and partnerships form from these follow-up sessions.
In one partnership formed in this follow-up session, they came out of the gate and did 13 storage deals in their first 14 months together.
Extra Benefit
The cost is low, and it is convenient to participate. No travel, hotel, no meals.
By doing it online, I can charge less than half of what I was charging for live events.
The cost is only $1,099 for all the above and more. There are payment plans if that would help you. I don’t want cost to be a barrier if you are serious and want to be in or grow your self-storage business in 2024.
Thanks for allowing me to promote this using this episode.
You can find out more about what is covered at the link below. But mostly register if you have not been through a bootcamp of mine yet.
https://creatingwealththroughselfstorage.lpages.co/2024-q1-live-virtual-bootcamp/
If you have been through one, you can attend for no additional cost if you want. Just email me and tell me you want to attend.
The times are next Friday, March 8th, at 10 AM Eastern, and we go through 5 PM Eastern time. There will be breaks and a lunch break.
Same times Sat. March 9th. Sometimes we go longer on Saturday, but you all decide that. At the end, we cover any questions you may have and sometimes go a little longer.
If you want to schedule a call with me to see if the Bootcamp is right for you, use the link below.
https://markhelmcoachingcallschedule.acuityscheduling.com/schedule.php?notembedded=1
Thanks again, and let’s make 2024 the year your self-storage dreams turn into reality
