Self Storage- Appraisal Review
Sunday, February 27
In the process of filing for an SBA loan through our local bank. We have been using a Construction Loan with Interest only payment during the construction and as we have started the rent up phase. As part of the loan process we had an appraisal done on the project, as we move to permanent financi...
Self Storage- How far will a Bullet travel in Self Storage????
Thursday, February 10
Went on vacation for a week. Came back to one of our newest locations which is only about 2/5's full, part of the story. Driving through I noticed a hole in one of the Doors. Got onthe camera history to see who backed into it. But no one did. There was a solid door, then a hole appeared from thin...
Self Storage- Caught You!!!
Tuesday, January 25
Security system update 01/2022: Had some break ins 3 weeks in a row about 2 months ago. Was once trying to get into storage units and twice going thru our RV and vehicle parking. I actually dislike RV and vehicle parking because they are so easy to break into, hard to see they are broken into ver...
Self Storage- Build Now or Wait Two Years?
Saturday, January 08
Self Storage- Build now or Wait Two Years? We are 100% full at all of our locations. Have extra ground we can build about 500 more drive up, metal units on. Trying to decide whether to Build now or Wait Two years. Prices for erected buildings have gone up about 40% in the last 1 ½ years. Steel pr...
Clarkstoragellc 2021 wrap up
Friday, December 24
We have had three primary CRE project types this year. Our normal Self Storage, House Subdivision and Teak Plantation projects. 1. CBRR location- we have this new location completed. Waiting on City Occupancy inspection and finish installing security cameras. This project ended up costing sign...
Self Storage- CAP rate and/or Value Add
Tuesday, December 21
Was on another post and cap rate was really being discussed heavily, in terms of how many good deals are not out there, due to Cap Rate compression. If an REI investment arena was to ever use Cap Rate it would be self storage. But we don't use it. We analyze deals based on an 8 to 12 year payback...