Normally we get 3 to 4 calls or emails in a week asking if we want to sell our Self Storage. This week was about 10. Significant rise. Although it can be irritating I will usually talk with them to get a sense of the Market from an Acquisition standpoint. Pretty even split between Family self storage operators with 10 to 30 locations wanting to expand and Self Storage specific realtors.

So many calls this week, one slid thru the cracks. They were a Tax and Wealth management company who helps match up existing clients and potential sellers. Sounded legit while I was talking with them. Later I thought they are a Wholesaler. No money down, sounded legit. I think it was a great angle. Fooled me for an hour until I thought thru.

We have always sold thru a National Self Storage realtor with a 6 to 7% commission. Could easily sale using my local Attorney. But I never question did I get market price.

This past year the calls and contacts have really increased. For about 2 years before, it was quiet.

Don’t know if people are taking money off the table from the stock market, looking for steady cash flow assets, or more passive assets without commodes and hvac problems.

Good time to be in self storage.

Hopefully our permit is approved on Monday for an addition we already ordered. 550 feet by 30 wide. Want to get concrete work done in Iowa before weather hits. Nearing 100% occupancy so it was time to either build more units or raise prices. Last department is the Right of Way department. Existing location. No change in ingress or egress. Why are they taking a month to review and approve?

Also need to make another offer on a new location. They didn’t accept my price last year.