The 1st Rule – Searching for Properties – The Internet

No matter what kind of self-storage property you want to invest in, you want to start by looking on the internet. You are going to have to use a fine tooth comb and you are going to have to be willing to make offers. No one puts out a sign that says, “I am super motivated, and I will sell this to you for pennies on the dollar!” Your job is to figure out who actually will.

Start with a simple internet search that says self-storage. This will bring up all of the self-storage in your area. Start a database. These properties are not for sale today, but you are going to start a mailing campaign that is going to last for years. They may not be in the market today, but remember, we are in the trauma and transition business. Time and circumstances change, and we want to be at the front of their minds when they do.

Now you are going to do a search for “self-storage properties for sale (your city).” All types of things will pull up from articles to properties. You will need to narrow it down and start adding to your database. There will be properties listed with agents, good, call them. We will talk about how to do that later. There will be properties listed for sale by owner, on Loopnet.com, forsale.com, brokerage websites, and a million other websites. You may find properties for sale on discussion websites. There are so many places to look. You can also try ask.com for a list of self-storage facilities. Get creative. The point is that you want to build a database of what is currently available.

If you want to build a self-storage facility, include vacant land in your database on a different tab. If you want to create self-storage by doing a conversion, then create a tab for potential conversions. These properties can be anything. They can be bowling alleys, large supermarkets, old warehouses, anything that is zoned the same as self-storage and has the size that you need.

When you build your database, you can use an excel spreadsheet, but a customer relationship management software system will help you track what you have sent out and when to send follow up letters. You need to find a system that you will use and be effective. As you build your database, include pictures. There will be a picture of the facility on the internet with the address. Cut and paste it into your database so that you can remember which facility is which.

Once you have the address of the facility, try to get the owners address too. Often you can find this on the county records or tax records. They have their notices sent to their own address instead of the self-storage facility.

Now that you have built your database, it is time to start reaching out to the owners of these facilities. You are only as good as your follow up. You can only follow up if you have a database to follow up with.

Creating your database will take time but it is a critical step to starting your marketing campaign for self-storage properties. Take the time to do it right. Find a tracking system or database that will work for you. As always, happy investing.