Self Storage – As Reliable as the Sun – Penny #10
Real estate investing is not something earth shatteringly new, right? It is something that has been done in one form or another since the beginning of humankind. In our final penny, #10, of “Why Self Storage is a Dime”, we are going to chat about how self storage is a stable market to be investing […]
Self Storage Facilities are Easy to Manage- Penny #9
Just joking! The word easy and manage are two words that don’t really coincide well together. If it were easy, everyone would be doing it, right? With that being said, though, self storage facilities really are not that difficult to manage once you have identified what needs to be done, the time frame in which […]
Self Storage and the College Student – Penny #8
Welcome to penny #8 in why self storage investing is a “dime”. Today we are going to talk about self storage and the college student. College students are one of the reasons why self storage will never die! In 2018 there were 16 million college students in the US. Putting that into perspective that’s almost […]
Seasonal Upkeep of a Self-Storage Facility – Penny #7
Hello, hello! Welcome to penny #7 of why self-storage investing is a “dime”. Today I wanted to talk about the seasonal upkeep of storage facilities. It doesn’t matter if you live in the tropics, the tundra, or the desert, you will need to have a plan in action for seasonal upkeep. It is true that […]
Walk the Halls – Inside Access Self-Storage Facilities – Penny #6
In last weeks article we talked about drive up self-storage facilities and what kind of storage they are good for. This week, I want to chat for a bit about inside access facilities. These facilities are indoor storage units are only accessible through hallways inside of a large building. When Should You Use an Inside […]
Drive-Ups – Not Just For The Movies! – Penny #5
Welcome back to our next article about why self-storage investing is a “dime”. With there being varying types of facilities to purchase or buy, it is important to consider each varying type to decide which is best for you and for the area you will be marketing to. Today, we will be considering drive-up facilities. […]
Endless Growth- From Household Storage to Boats and Rvs – Penny #4
Welcome to the fourth “penny” of why self-storage investing is a “dime”. You want to make sure that you are prepared in knowing what kind of storage you want to have. Do you want to specialize in one kind? Or would you like to appeal to the masses and be a jack of all trades? […]
Self-Storage – Attractive –Without The Frills – Penny #3
It is no secret that most self-storage facilities are all-metal constructions. Can you think of any other type of real-estate investment that shares that quality? I sure can’t! (Unless you are part of the ‘shipping box apartment’ trend, that is.) It may not be the ‘prettiest’ type of building, but there are some serious benefits […]
Introducing The Self-Storage “Terminator”- Penny #2
In addition to having to not deal with the “repair” of a residential rental, self-storage ownership has another great bonus! The ease of eviction. There are moments in the self-storage business that we all hate. But, I can GUARANTEE you one thing. Compared to the hassle of evicting a residential tenant, terminating the lease of […]
“No Trash, No Toilets” – Penny #1
Welcome to our first article addressing why self-storage investing is a “dime”! To start out, I cannot even begin to tell you how life changing it is to not have to deal with just those two things. When I first began investing in real estate, I thought rental properties were the best! I bought houses […]
Why Self Storage is a Dime Among Pennies
Picture this. You are walking down the street and you see a dirty penny on the ground. Trampled on by hundreds of other pedestrians. Is it going to stop you in your tracks? Will you go out of your way to go pick up that single penny? Probably not. What if it were a 1874 […]
What are Your Customers Looking For?
Wouldn’t it help to know what your customers were thinking? If you could know what they were thinking, then you would know what they wanted and you could be at the top of your marketing game for your facility. What if I told you that I know what your customer was looking for? That there […]
Watch out for the writing on the wall – Part 2
In part 1 of this blog, we talked about some “writing on the wall” that you should be looking for before entering into business at a new facility. There were a few more on that list that we wanted you to be on the lookout for! Check them out: Recent Rent Increase If the seller […]
Watch out for the writing on the wall – Part 1
When you have finally made a self storage facility purchase, it is without a doubt an exciting time! How can you ensure though, that when you look in retrospect, that you don’t have any regrets? Keep on the watch for the “writing on the wall”! Check out these following things that you should be on […]
The Art of Negotiation
Buy real estate without entering into one form of negotiation or another is virtually unheard of. Sellers want more and the buyers want to pay less. Check out the top five lessons we have learned in the art of negotiation. Don’t be difficult to sell to. Without even knowing it, many buyers are their own […]
Pave the Way
Since roadways became a “thing”, multitudes of materials have been used to create them. Sometimes they were just beaten down paths, other times granite paving stones were used. Some materials wore better than others. When it comes to your self storage facility, it will benefit you to take some time to consider what road materials […]
Don’t try to reinvent the wheel
When something works, why change it? In the world of self storage facilities, there is an obvious formula that works. Consider these reasons as to why you should avoid trying to “fix” something that is not broken. Stick with the basic You will find that most people have made the biggest amount of money have […]
Are you building a legacy?
Grandma’s china. Grandpa’s gun collection. Uncle Gary’s collection of rusty nails in coffee tins. Every American wants to have something to pass down to future generations. Will what they are leaving behind be something that is treasured? Or something that is just tossed aside? Let me tell you why a self storage facility makes a […]
Ask Scott: Estimated Expenses
“Hey Scott! When elevating Storage Units what rule of thumb do we use for estimated expenses? 50% rule? 60% rule because it is commercial? When calculating vacancy and bad debt, do these have rule of thumb too? Thanks!” Hello! An existing Facility that’s being properly managed should have an expense ratio of 32 – 35%, that is […]
Do You Need Residents to Make Money in Real Estate?
Barbara Streisand once said “people who need people, are the luckiest people in the world.” Do you agree that this is necessarily the case? Or do you think that in real estate people tend to only cause more problems? Your real estate build doesn’t NEED people to exist, but without people inside, you don’t get […]