I'd Love Some Feedback on Your Self Storage Challenges
Hello everyone! One of the things I inevitably try do every year is to understand what challenges operators and investors in self storage are dealing with. The rational is simple - if one person says it's a problem, then likely there are hundreds of others who are silently struggling with it and by knowing about it, I might be able to address it based on two decades of being involved in the self storage space.
So today, I want to put it out there to the BP community and start the discussion with those folks who own, operate, and invest in self storage facilities - what are you seeing and what would you "fix" in the industry?
Now, let me clarify: I'm really looking to identify the trends (coast to coast) and the biggest time sucks you guys have. Is it due diligence in a purchase? Is it digging into financials? Is it operations and customer service? Understanding the value add in a purchase? Syndication? I'd love to know what owners, operators, and investors in self storage feel they need to be successful.
It's the fourth quarter, guys, 2020 will be here before we know it!