All Forum Posts by: Mark Byrge

Hi Justin! I have a small mini storage just north of Macomb County, similar size. The biggest question for me is how much are you going to automate it. If you are installing gates and security, be sure to use keypads rather than RFID cards as this will allow you to rent units by phone (assuming you have internet capabilities tied into your gate system. If you can automate it as well as using some internet capabilities for lease applications and agreements, you can greatly minimize the need for someone being onsite full time. Obviously the need will be greater until you are fully leased out, but afterwards the need begins to drop off more and more. My property is pretty well seasoned and I only need to visit once every few weeks and also monitor the property via security cameras from home.

My apologies Joshua i wasn't clear on my first post. The facility is secured by an 8' fence with powered gates that require an RFID card to open the gates. The individual units all require their own tenant supplied locks on mine as well. The cards make it easy to deny access to the property when rent isn't paid. 

On the surface it sounds like a decent deal but there are a lot of variables to look at. Unit sizes, unit rental prices, current occupancy, competition in the area, condition of the buildings, taxes, etc etc etc.. 

I am fortunate to have bought mine 90% occupied so when it comes to new rentals, I set them up by appointment. I have the number on the sign linked to a separate cell phone I carry and either answer it when I'm available or let it go to voicemail and return the call ASAP. I then setup appointments after work or on weekends when I'm available. 

I have rent either mailed to a PO box or they can pay with credit cards using Square, PayPal, etc. or I have a drop box in the office as well. 

I own a 60 unit and getting ready to add an additional 30. Love it! Easiest money I've ever made. I also have 16 SFH rentals as well. Once you get them full you will need to visit the property maybe once a week or so, mostly towards the beginning and end of the month. Mine has an RFID card system on it so I'm able to easily lock people out of they do not pay and can do this from home remotely through a VPN connection. It's insane what people will pay to store their garbage....

Hi Katherine! If I can be of any assistance, please let me know! I'm an investor/investor friendly agent in the Macomb area with numerous units in SCS, Eastpointe, Clinton Twp, Mt. Clemens, and Warren to name a few. I'd be happy to help you out and assist you with your investment properties!

Mark Byrge

Red Door Realty

Hi David! My name is Mark Byrge with Red Door Realty and I am an investor/investor friendly realtor in the Macomb County/Oakland County area and would be happy to help you out! I'm assuming you are looking for 1-4 unit multi-families correct? Please feel free to reach out to me anytime! You can PM me or see my contact info on my page! Mark Byrge Red Door Realty

Hi Scott,

Do you have anything coming up closer to the Michigan market anytime soon? Very interested in attending but not sure I can make St Louis happen. 

I am looking at a self storage opportunity that has an empty lot next to it that's available to purchase. I want to know what should I be looking at to see if there is a possibility to do outside storage? I do not want to purchase the additional property if this is not an option.

Hi Mike and Kathy! I too live in Macomb Twp. Full time automotive engineer/investor/landlord/rehabber/agent! Depending on your criteria, I might be able to assist you a couple ways. We have a Michigan Real Estate Investors Group meet up coming up on Oct 19th from 6:30-10:30pm at Steelhead Tavern in Troy. Several like minds to talk to as well as wholesalers, agents, insurance agents, lawyers, and such. Additionally I also am a part time investor friendly real estate agent. Either stop up next Wednesday or message me! Good Luck! Mark

Its totally feasible, I started five years ago with my first single family and in five years purchased 15 SFH's and my first mini storage this spring! Keep reading and learning! I've listened to every BP podcast as well as Millionaire Real Estate Investor and Rich Dad Poor Dad on Audible. Keeps the mind engaged and motivated.

I used Main Street Bank of Michigan. In full disclosure, I DID use a couple small low value properties as collateral that I wouldn't be able to get loans against anyway (south Warren $30k houses) but I also walked away with money in my pocket and access to a substantial Line of Credit with the bank to build a third building or finance other ventures.