How to value and get started in self-storage properties?

Question

I am interested in learning about self-storage properties. I am currently starting a business that will require extra space to store items. I am in the Provo, Utah area and would love to connect with any other self-storage fanatics to talk through things.

For instance, how to value a storage facility, management concerns, risk mitigation, current market cap rates, etc. If anybody has any resources for me to look at or answers, please let me know.

Taylor L. · Answer

AJ Osborne's book and @Paul Moore's book are great resources to get you an introduction to the business. @Michael Wagner runs the Storage Rebellion and provides a lot of helpful content through that group/platform as well. I would wager that there's someone in Mike's group who currently invests in storage in the Provo area.

Scott Meyers · Answer

Hey Jacob!

What did you ultimately decide to do?  Please let me know if me or my Team can be of any help.  We can answer all of your above questions.

@Paul Moore - I appreciate you.

Scott

Paul Moore · Answer

Hi @Jacob Zundel. I’d recommend going to a 3-day event with Scott Meyers. You can find him here on BP and at his website. I got started in part through his inspiration. Good luck!

Jacob Zundel · Answer

That is a great point. Here is my train of thinking. Self-storage is an investment that I am interested in utilizing already. Plus I am not sure the amount of storage that I will need with my new business, it will depend a lot on the reaction of the market. If I own a self-storage facility, there will always be cash flow, and there will always be vacancies; which I can fill with my own goods.

Ronald Rohde · Answer

If your business needs space, why not look into industrial? Self storage is really for consumers, not business storage

How to value and get started in self-storage properties?

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