Managing Self-Storage Owners’ Expectations
Monday, January 01
One of the hardest things to overcome when you are buying a property or any kind, especially self-storage, is the sellers’ expectations. They may believe that their property is more valuable than it is. Actually, they all do. Every seller wants to walk away with enough money to buy a newer, ni...
Negotiation is the Key to Self-Storage Success!
Friday, December 29
Every day you negotiate. You negotiate on every aspect of your life. Self-storage is no different. You are going to have to be good at negotiating if you want to be the one who ultimately comes out as the winner in a self-storage transaction. It is very unlikely that you will be the only perso...
Using Real Estate Brokers to Find Self-Storage Properties
Wednesday, December 27
Relationships make a huge difference in the world of self-storage. The expression, “It doesn’t matter what you know, it matters who you know.” was invented for real estate. It matters what you know, but when you are getting started, it is important to build relationships. Your power team can he...
Self-Storage: Where are the opportunities hiding?
Friday, December 22
Sometimes it can feel like everywhere you look there are perfect self-storage facilities. They are all 90% occupied and asking for top dollar. So where do you go to find the junk? Where do you go to find properties with upside potential to keep your investors happy? If it were easy, everyone wou...
Buy Junk!!! But buy Junk that has an Upside Potential!
Wednesday, December 20
To really be successful in self-storage, you are going to need partners. Eventually, you are going to need a lot of partners if you want to buy a lot of self-storage properties. You don’t want to keep finding new partners, you want to be able to keep the partners that you are working with and ha...
It’s A Bird! It’s A Plane! No, It’s an SBA Lender!
Monday, December 18
In commercial lending, you don’t go get a pre-approval letter and then go to a Realtor and say, “Here is what I am pre-approved for.” Instead, in commercial real estate financing, you find the property, get the financials on the property, and then go to the lender and say can I make this work? ...