Investing in Storage Syndicate

[Robert Gu]

Hi All,

Looking to make my first investment in a self-storage syndicate with TriCore Storage Fund I

https://passivestorageinvestin...

Does anyone have any experience with them or want to recommend any self-storage syndicators that they worked with and recommend?

[Michael Margarella]

In addition to the advice above, do your due diligence on the operators.  It is as much - if not more - if an investment in the jockey not the horse. 

Also, analyze how they arrived at their projections. For example, did they project a quick sale at today’s cap rates with aggressive rent appreciation and 2021 occupancy levels built in? Or, did they add .5-1 point to the cap rate and project more conservative rent appreciation and occupancy?