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 […]

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 […]

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 […]

Manage You Self Storage Investment with Care

If you are the owner of a self storage facility, you are one of the many who helped to break some industry records! With so much competition popping up, passive management is no longer an option! If you want to survive the boom in the industry, you are going to have to dig your heels […]

Ask Scott: Getting Started in Self Storage

“Hey Scott! I’m looking for some ideas on how to get started. I listened to a few BP podcasts yesterday on self-storage, launromats, RV parks, etc. but was hoping to get a bit more granular on specific steps one should take in order to: explore the market (resources for this – where to look, etc.) find prospective […]