Ask Scott: Interested in a MHP or Self Storage
“My business partner and I have been purchasing residential rental properties in Topeka, KS for the last 13 years. We are very interested in purchasing a smaller MHP +/- 30 pads in the KS or MO area. We are also interested in self-storage in the same area. These feel like the new rage now days […]
Who is the Quarterback on Your Team?
Just like in football, there is one member of your team that is going to carry the game. Do you know who this is? Your manager! They are absolutely vital to the success of your facility and not having the right one can be detrimental. The importance of having a good manager cannot be overlooked! […]
Strength in All Metal Construction
One of the most unique attributes of a self storage facility is that a large majority of them are all-metal constructions. Think about it, are there any other real estate asset class that shares this trait? Can you think of any advantages of an all metal structure? This isn’t a commonly discussed topic, but it […]
Ask Scott: Enough Land?
I currently own about 2 acres of property in upstate NY. I am trying to sell my restaurant that sits on that property. Since I am having difficulty selling it, I thought I would get creative. I thought about utilizing that property for storage space. If feasible, I would knock down the restaurant and produce […]
Ask Scott: 42-Unit Storage Facility
“Hey Scott- Here is the skinny on what we have in front of us. There is a 42-unit self storage facility listed on MLS with average rent of $65/unit; Built in 1998; located in TX. This is a mom-and-pop operation. The area is blue-collar and 3mi off a busy interstate. Annual expenses about $5-$6k. Asking […]
4 Final Easy Ways to Improve Your Storage Facility’s Impact on the Environment
We have previously discussed 7 important was to make your self storage facility more environmentally friendly. If you haven’t seen those previous articles, be sure to go check them out! Let’s chat about the final 4 ways you can do this to save yourself some money and to attract eco-conscious customers. 1.Weatherproof the facility! I […]
Ask Scott: What to do with $1Million?
“What would you do in this market with $1 ml cash? We are at the top of the cycle and every asset seems a bubble close to bust? Sit tight and wait for another down turn, or find off market deals and flip? Living in Chicago , with high taxes and rising even more” What […]
4 More Easy Ways to Improve Your Storage Facility’s Impact on the Environment
In a previous article we talked about how going paperless, working with a LEER-contractor, and adding landscaping can go a long way in making your facility more eco-friendly, which in turn will bring in more customers. Let’s touch on a few more ways you can do this! 1.Make Use of Energy Star Products These cover […]
Use Social Media to your Advantage
Did you know that 69% of American adults use at least one form of social media regularly? As the internet continues to dominate, it is important for you, as a business owner to follow suit when it comes to your marketing. Want to know the best thing about using social media as a marketing platform? […]
Can “Tidying Up with Marie Kondo” boosting your storage unit rental occupancy?
By now most people are familiar with Marie Kondo and her fantastic home organization skills. This mini series on Netflix has changed the way people are cleaning, organizing, and decluttering their homes! Marie Kondo’s inspiring tips are inspiring thousands. But what is the key to her organizing? She encourages people to stop clinging to things […]
Color Theory and the Self Storage Facility Owner
Have you ever tried to envision what life would be like if it was in black and white? Watching tv with my grandparents always got me thinking about what that would be like. No admiring the way the colors of a rainbow run together. No determining how juicy a strawberry will be just by looking […]
Ask Scott: Negotiating Zoning Problems
“We just got shut done on a Self Storage Project in a rural community. The land use plan basically talks about exclusively agriculture only and no commercial use. How does a person begin to navigate getting approval for a self storage building? We have made it blend in with the surrounding farmland by modeling it […]
3 Easy Ways to Improve Your Storage Facility’s Impact on the Environment
Marketing a self storage facility today can be a bit of a challenge! How can you make this easier on yourself and ultimately make your business more successful? By making your facility more environmentally friendly. Consumers love supporting companies who are going green and who are making an effort to be environmentally-conscious. It doesn’t matter […]
Filling a Self Storage Unit: Think Vertical!
By using a storage unit, you can achieve maximum efficiency by reducing the amount of clutter in the home and in the office. Make the best of your off-site storage with by utilizing the following tips: Where to Put the Furniture The manner in which you arrange your belongings will be a direct impact on […]
Ask Scott: Shipping Container Facility
“Does anyone have any experience with shipping container storage facilities? I’m looking for container suppliers. Planning to start with a few 10 x 20 containers and see how it goes. Anyone with experience who’s brain I can pick. We are looking to diversify from Buy and Hold RE.” Hey! The Shipping Containers that we recommend […]
Tips for Combining Households
There is no refuting that combining two households is an exciting time and step in life. This time, though, can also bring its fair share of stress. Don’t let disagreements dampen your enthusiasm! Take heed of the advice below when starting down the path of combining your lives together. Ditch the Clutter Making yourselves a […]
Ask Scott: “On Demand Storage”
“Curious if you have researched this new business model of “On Demand Storage”? I noticed UHaul appears to be going “all in” on the U-Box. In Texas we have seen Call Box Storage open up in DFW, Austin, and Houston. There are several others that appear to be off and running – Makespace, Stash Storage, […]
When the Worst Case Scenario Happens
There are horror stories about self storage facilities all over. You read them in the paper, see them portrayed on tv shows, and maybe have even experienced some yourself. Have you ever thought to take a step back, though, and make a plan on what to do if you find yourself and your facility in […]
Ask Scott: Equilibrium Sq Ft per Person in Rural Areas
“I have read that for determining equilibrium a good rule of thumb is to use an avg of somewhere between 7-8 sq ft of self storage per person within the radius you are analyzing. However we all know each market is very different. In analyzing small towns in more rural areas what number do people suggest […]
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 […]