Tag Archives: complete guide

Property Ownership Guide: Renters Insurance Reviews

Posted on by
Reply

Here at Self Storage Investing, we are dedicated to helping other storage facility owners – whether new to the business or those who have yet to commit – the best advice when breaking into the industry. In order to carry on that promise, I decided to start a series of blogs in which I review and compare different business necessities. Stay tuned for more great self storage business advice. Up first: renters insurance.

Renters insurance, although not (generally) provided by the building owner, is an important piece of the self storage business. Individual renters will be interested in knowing perks, prices, and stipulations to different policies. As a self storage facility owner, it is a good idea to have this information on hand, and be able to offer advice to your future renters.
Continue reading →

How to get into the Self Storage Business Part 2: Investing in your manager

Posted on by
1

Here in the self storage business there are many important aspects to keeping your business in line. However, perhaps none are more important that who you choose to manage your facility/ies. A good manager can turn a self storage facility into a booming, profitable business, and in the same light, an awful one can bring it tumbling to the ground. Finding the right manager may be a time consuming task, but a necessary one when you consider all of their responsibilities.

 

Choosing your manager

When it comes to finding a self storage facility manager, do your homework. Do your potential hires have experience? Is that experience topic related? Or will their other skills translate? Just because a potential manager has minimal experience with the self storage industry doesn’t make them a bad choice. Look at their backgrounds: have they worked in retail? Dealt with customer service? All of these things will fall under your manager’s jurisdictions. Look beyond their former positions and see what skills will help them succeed in the self storage industry.

 

Another aspect to consider when hiring your manager is to get help from an outside source. Having a personal relationship with a potential hire or choosing after first impressions aren’t always a good idea. Ask a fellow property owner to help you decide, or a close friend who has experience owning their own business or working in management. When it comes to picking your manager, you can’t afford to get emotionally involved and risk choosing the wrong hire.

 

Ongoing education

Next, once you’ve made your pick, don’t forget that the self storage business is always changing, and so are the management techniques. There are hundreds of opportunities for continued education, and allowing your manager to expand their knowledge will only make them better at their job. Treat your manager to seminars, webinars, speakers, or a training sessions on a regular basis. Not only will the expense help your employees, but it will have a direct (and positive) effect on your business; helping it run smoother. And although it may seem like a costly expense, remember that with employees, you get what you pay for and your manager is the central piece holding your business together.

Music, Millionaires and Self Storage Investing

Posted on by
Reply

I think Liza Minnelli, in Cabaret sings it well, “Money makes the world go around?…the world go around?…the world go around. ?Money makes the world go round. ?Of that we both are sure…?*raspberry sound* on being poor!”

Don’t we all agree? I actually think the dream of being a millionaire shouldn’t be the least bit daunting, you obviously agree. You think so and that’s why you are here. Well, you are definitely looking in the right place. Taking control of your financial security is your responsibility and investing your money in the consistently stable market of Self Storage will get you there quicker than you know.

With the change of the calendar to 2011, analysts and economists are looking at how 2010 was impacted by the economy and the general state of the United States Government. The reports are coming in, and again incredibly favorable to Self-Storage.

There are many steps to becoming a millionaire in Self Storage. In my Complete Guide to Self Storage Investing, I take you through those steps and provide you with the foundation that will allow you to build your own business. Become your own millionaire. Join the others in the Self Storage Millionaire’s Club; get monthly newsletters and exclusive articles that will keep you ‘in the know’ in this business.

In the meantime, get started by establishing your credibility for investors to evaluate. Here’s a simple tip: When you have completed the necessary steps and are ready to seek financial backing, ask yourself a question, “How will these financial investors, find my information and believe it to be credible?” Let me help you answer that question. Today you are going to develop your, Credibility Kit. Check out this video that outlines the steps to making your credibility kit. You’ll quickly be on the road to success and maybe, Liza will be singing about you some day.