Self Storage- Value Add options
Tuesday, July 20
Been running the Skidsteer spreading about 60 truckloads of dirt on our upcoming Contractor building location. One of the Bumps, made me think of Value Add as a topic. In between Breaks, kept jotting concepts down. Sure there are more, but this is a start. Overview: Operational: A. Raise rents B....
Self Storage- To U-Haul or Not
Tuesday, July 06
We do U-Haul at one of our 8 locations. Since we do self service Self Storage, it does not work to do U-Haul at all of our locations. There is a Self Service U-Haul option, but we don’t use. The one location is about 2 miles away from our house. We started U-Haul at this location since the locati...
Self Storage- Fire Marshal Considerations.
Tuesday, May 18
Response to a person about to build in Louisiana, on how to navigate Fire Marshal items. Actually being from Northwest Louisiana, the way to navigate the Louisiana Fire Marshal is to give them a Fifth of Whiskey and a paid saltwater fishing trip. Otherwise:Get your site plans and building plans d...
Self Storage- Subdivision Collateral
Sunday, May 16
We have continued to grow in the last 7 years with our Storage business. We are now up to 8 locations. Most are at 100% occupancy. 4 have land to expand, and we will next year. Focusing on our last locations 7 and 8. Our last piece of purchased ground should go on line this month, subject to...
Self Storage- What is a good Customer in terms of length of stay?
Wednesday, April 28
Over the last two weeks I was asked what is a good customer in terms of length of stay. My response was all customers are good, because most of them don't know how long they will stay. Even when they tell me they only need a unit for one month, I will rent to them. Even if it is the last unit we ...
Self Storage- Building Cost Increases
Monday, March 08
Just got our latest estimate for our Phase 2 of a location. This is for your normal drive up units. Last fall Phase 1 we were $3,200 erected for 10 x 15 or 10 x 20. This was contracted around February of last year. Latest quote is $4,000 per unit erected.Steel for buildings, rebar steel and Concr...