How to find local self storage for off market deals

Question

Happy New Year everyone!

I’ve had success sending direct mail to homeowners and would like to do the same for self storage facilities for my first deal.

Any recommendations on how to start building a list of local self storage? I feel like driving for dollars and searching on google will not capture all the local facilities - especially the smaller mom and pop facilities that may not have a strong online presence.

I don’t mind pulling the owners information myself as long as I can identify which properties are self storage in my area.

Any advice?

Tom Conant · Answer

@Henry Clark

Thank you for replying.  Unfortunately I don’t see anything actionable for me in your reply.

If you don’t think my plan is a good one, what would you do in my situation if your goal was to obtain a self storage facility with some meat still on the bone?

Tom Conant · Answer

Nothing wrong at all.  Right now I think that looks like my best option.

Henry Clark · Answer

We get about 3 calls, emails or letters a week.  If you called me you would be number 4 for that week.  If you’re not a buyer you’re wasting my and your time.

For example I would like to buy your house.  I know nothing about your house.  I we were to talk and I find out you’re out of my price range or too small or the wrong type I just wasted both of our time.  Also unless you’re doing all of the legal and real estate work I wouldn’t want you in the mix.

I can put it on Loopnet and get 50 inquiries and offers in one week.

Steven May · Answer

I purchased my first two self storage facilities by doing a search on google in a specific area and doing a full skip trace process. Very similar to what you have done with houses. I always look for the ones with no websites or that look run down from pictures or that have terrible google reviews. Use the county GIS website to type in the address of the facility, if its in personal name then I use fastpeoplesearch.com to try phone numbers and if their is a LLC, then doing a search on the state entity search website and then finding the owner of that LLC and doing the same process of finding a phone number. Build rapport and ask solid storage related questions and see who is willing to sell.

Mark Munson · Answer

Great advice. I have a colleague that acquired over 10 facilities in roughly 3 years doing off-market mailers/cold calling to mom and pop operators. It can be done, just need to put in the work and build relationships with the owners when possible.

Mark Munson · Answer

Hi @Tom Conant

I would try InfoUSA, Yardi, or ExactData. You can pull self-storage lists from there and run the same play with direct mail. I would also call the facilities as well, typically after they have received your mailer.

Sonny Dhillon · Answer

Are you planning to do wholesaling or buy for yourself ? imo wholesaling is not a good idea in big commercial properties, usually commercial sellers don't want to go through this Hassell.

Henry Clark · Answer

@Tom Conant

Are you trying to buy or to wholesale?

If wholesale wouldn’t do it.

If buying use the lookup on me and Will they come.   Use booth Google search and Sparefoot to make your list.

Henry Clark · Answer

Recommend you don’t go down the wholesaling or list path for Self Storage.

There are already two groups doing this. A.  Realtors who specialize in Self Storage

B.  Self Storage companies who are expanding.

Plus it is real easy for an existing mom pop location to find 50 buyers.

If you’re wanting part of the Self Storage business it’s best if you become an investor.

Ronald Rohde · Answer

Whats wrong with google? Strong is not the same as non-existent?

How to find local self storage for off market deals

Most Popular Reply