Investor · Parker, CO · Member since 2009 · 22 posts · 4 votes
I am interested in partnering with someone who has experience in Self Storage. I am very interested in this asset class, and have had some education on it (Scott Myers), but have no ownership experience. I prefer not to get into syndications, but am not totally closed off to the idea. I have some capital to invest, and I was hoping to find one or two investors with experience in this space, who I could partner with to do a deal. Any recommendations on how to proceed would be greatly appreciated.
Specialist · Charleston SC · Member since 2016 · 73 posts · 42 votes
5y
@Chip Stroz
DM if you’d like to connect. Scott Meyers is a great resource here. I own one mom/pop facility in South Carolina and opening a second in GA soon. Will share my experience and what I’ve learned so far.
Specialist · Charleston SC · Member since 2016 · 73 posts · 42 votes
5y
@Chip Stroz
DM if you’d like to connect. Scott Meyers is a great resource here. I own one mom/pop facility in South Carolina and opening a second in GA soon. Will share my experience and what I’ve learned so far.
Investor · Northbrook, IL · Member since 2017 · 352 posts · 295 votes
5y
@Chip Stroz, I second @Steve Cheslock position. We are currently seeing all three asset classes come across our desk. Some important things to consider are: area of interest, size, asset class, and each persons goals and challenges to see if a partnership aligns with what you desire.
Investor · Fishers, IN · Member since 2012 · 520 posts · 499 votes
5y
Hey Chip!
I'm glad to know that you were and still are interested in Self Storage and you had leaned on me to get the initial education.
Do you mind if I ask where the hold-up comes from?
Everything we do is teach and do is geared towards helping that NEW Self Storage investor get into their first Self Storage Facility, and teach you that skillset so that you can do it again & again.
There's the thinking that you can (Mindset), what & how to actually do it (Specialized Knowledge), getting out and actually doing it (Action), and someone to make sure you did it (Accountability).
And, as we've been at this for over a decade, we do indeed have some tips to help and ensure that you can and did.
Investor · Parker, CO · Member since 2009 · 22 posts · 4 votes
5y
@Scott Meyers I didn't mean to say that your course that I attended back in 2014 wasn't awesome. It really was. But the piece that I had the most trouble with was the money piece (i.e., finding investors to go in with me on a deal). I guess that's why I would like to partner with someone, possibly from this Bigger Pockets platform, to go in on a deal with. As I said earlier, I would be willing to invest in a syndication as well. However, I want to be involved in the process. As you said, once you go through it once, and REALLY understand it, there isn't any reason you couldn't repeat it as many times as you'd like.
Investor · Fishers, IN · Member since 2012 · 520 posts · 499 votes
5y
Hey Chip!
Please note that when we teach folks how to Actively Invest in Self Storage Facilities, the number one questions is: "How am I going to pay for that?" The answer is that it's about pursuing Value-Add Facilities.
If there's enough upside you can borrow against this future value now. Certainly, not through the bank but through Equity Investors, Capital Investors, Private Money, etc. These folks will invest their own Capital now and expect to get paid out well in a few years when the Value of that facility has increased.
It's also the same model I use for our Passive Investments and investor Capital Raises (aka the Syndications we put together and offer out).
Please remember, that for the smaller investor most folks have "Friends & Family" who may have the Capital to invest, who aren't professional "Equity Investors" and would be willing to partner with you if approached correctly.
If you like I could explain it better in a conversation.
Investor · Walnut Creek, CA · Member since 2018 · 43 posts · 27 votes
5y
Hi Chip! That is exactly why I built an entirely new social networking site dedicated to self-storage investing, Smart Storage Group. In the community (link in my bio) you will find members to network with, articles on self-storage, self-storage investing, and I also have a syndication deal analyzer tool. I would be honored if you were to join. BTW...it's free. All the knowledge is FREE! No coaching upsells. The deal analyzer tool is the only thing that costs (took some time and effort to get that working!)