Hey @Diego Alvarado! I appreciate you sharing that. That's kind of what I've been picking up too - seems like things have shifted more toward stabilization vs expansion recently.
I'm still pretty new to the space, but trying to get a better feel for where the opportunities actually are right now, especially in DFW.
Have you been looking locally there or more broadly?
@Ronald Rohde thanks that's helpful I appreciate you sharing that. Sounds like things are just tighter overall right now. Are you seeing most deal still happen off-market or just less activity in general?
OP. You're talking about a $5mm plus location. At 25% down around $1.25mm cash from your end. Is this size or larger what you are looking for? If not, I would downsize your search, and it will be easier.
Look up my post "Self-Storage- Will they come?" Do those steps for your target area and it will help you access both demand and also areas to develop or which locations have stronger value.
I have lived in DFW, my sister's family lives in Bedford, I helped my brother build and sale a location south of San Antonio. He is overseas now but plans to move to the DFW area in 2 years. We have looked and there are ample areas to build Self Storage.
Texas is the greatest state, if I was going to build Self Storage. From an ease of Zoning standpoint. Plus, the rates are higher there.
Hey@Henry Clark! I really appreciate you breaking it down like that, that's helpful context.
im working with a buyer on the acquisitions side, so I'm trying to stay aligned with their criteria rather than sourcing for myself, which is why the size is a bit higher.
That said, I completely understand your point on accessibility and deal flow at that level. I’ll definitely take a look at your post as well - sounds like a good framework to better understand demand in specific areas.
Are you seeing more opportunity right now in smaller facilities or more on the development side in DFW?