Due Diligence in Conversions & New Construction in Self-Storage
Friday, November 03
There are so many different aspects of a property that you need to verify prior to purchasing that property. However, when you are considering a property site for building or converting to a self-storage facility, the first step is making sure that you can actually build self-storage or convert ...
You Live & Die by Due Diligence
Wednesday, November 01
Your Due Diligence period is the most important part of your purchase period. If you don’t do the necessary research, you may end up with a different property than you hoped you were purchasing. Don’t allow excitement to blind you to the reality of the property you are purchasing, make sure you...
How you talk to the Seller Makes a Difference!
Monday, October 30
When you are marketing in self-storage correctly, you are going to talk to a lot of self-storage owners directly. You need to build a relationship that will last and be memorable in a positive way. You need to make sure that you are treating them in a manner that will make them want to talk to y...
Raising Rents on Self-Storage is Crucial to Long-Term Success
Friday, October 27
Unless you want to be one of those owners who is dragging down the market, you need to plan on raising your rent every 6 to 9 months. Once your renters are fully established in their unit, they are not going to move everything over $10. This will help you to build equity in the property by incre...
Equilibrium Will Affect Your Offer
Wednesday, October 25
Every time that you make an offer on a property, you will need to evaluate the area that the new self-storage property is in. Even if you have already evaluated this city, a different part of town will have different results. Every property needs to be checked for cashflow, upside potential and...
3 Things You Should Do If You want To Be Successful in Self-Storage
Monday, October 23
There are so many things that make entrepreneurs successful. Here are three things that you should start thinking about doing if you aren’t already. You need to implement the effective new ideas that you have learned, you need to create time in your schedule for the things that will bring in ne...