This video is the most comprehensive straight-to-the-point information I've found in 30+ hours of browsing YT about self storage. Really fantastic questions and thorough answers. We're under contract on our first facility and were about to make two very costly mistakes that we can now avoid due to this information. Thank you for taking the time record this.
Thanks for the kind words, Rodney! I'm glad you found it helpful. I also learned some valuable insights for a new build I'm working on. It pays to know people who are in-the-know!
@@Retipsteragree 100%, the majority of people you think are rich are actually just in massive debt from trying to feign wealth. Every 8-figure net worth person I know is super humble and you would never know they’re so wealthy. Rich people don’t get rich by wasting money buying luxury cars and designer clothes, they get rich by working hard, pinching Pennies, and making their money work for them. That same money you spent on a fancy car to impress people you don’t know could be earning you 5k+ a year compounding. Never think about today, think about 10 years from now. It’s all about building wealth, not looking or acting rich
3:13 in the business of storage units there are 3-5 businesses in storage units, with in storage units guns antiques, boats or have them actioned off that's the business that is WT
I built me some storage units and they are alittle over one year old. I enjoy working them and working with the clients and since I am retired it has worked out real good for me. I am glad to have come across your video and will be subscribing.
Very good video. I have a storage facility and am developing another. Mine are in Ontario Canada so some of the rules are a little different and time lines are longer. Even with the correct zoning the consulting and agency testing needed, take at least a year and then construction can start so it’s probably a two year building process. Well worth the watch.
Hey Rob! This might be a long shot but I’m getting into the storage space in Ontario as well. Would love to connect & chat if you’re open to it? Thanks!
Damn this guy really knows his shit. He must have been doing this for a while. It also looks like a nice new facility he’s building there too. I’d take a look his facility out to see about renting a unit if I lived there, but I don’t. I’m paying $215 a month right now for a unit in a storage facility that lets people keep their boats, vehicles, and trailers all over the place. Plus they leave fucking Uhaul trucks and trailers everywhere. It’s a pain going in and out of there every single time I have to go in there. It’s like driving through a damn obstacle course.
Thanks for watching! It sounds like you should uproot your whole life and move everything to Newaygo, MI _just to rent a unit at this facility,_ haha. It's THAT good!
Great video! Thanks for sharing all the thoughts and expirience. Only thing to improve on is the sound quality. A clip on mic would of made it a lot better watch.
12:27 I wonder if you could put in a heating system in the concrete to just melt the snow. Sure it would cost a lot but how much is that plowing over the years?
I've wondered that too. My gut tells me it's cost prohibitive, not just in the installation but also in the energy to run the heat. If it was an obvious benefit, it seems like everyone would be doing it. That's just my conjecture though, I've never looked into it myself.
Awesome information! I'm constructing a 2 building, 14,700 SF now in Eastern CT. What are you doing for height from top of finished pavement/concrete to base of concrete floor? My site engineer used a 6" rise which in my opinion, is pretty high. From my research, it seems a 2-3" rise is more common.
When you say, "rise" do you mean the total thickness of the concrete, or just the lip that comes up from the base? The thickness of my foundations is 5 inches, with 12 inch footings all around it (this is in Michigan, which is pretty similar climate to CT).
Appreciate the fast response. I'm referring to the distance from the top of the finished asphalt/concrete to the bottom of the roll-up doors. Basically, the lip rise at the edge of the foundation slab above the asphalt.
It would depend but alot of times if it's only climate control facility that has a locking gate code in front, but if you have a hyrbrid or outside parking we likely would. You can learn more about us on our RU-vid Channel @twinoakscapital
It depends on how many square feet you want to build and how much storage your market needs. I would like to see at least a few acres, but preferably in the 4-10 acre range (more is just an added bonus).
@@Retipster Thank you for responding. I am a Realtor. If anyone is looking for land to develop a self-storage facility and want to be in the Savannah, GA area I have a property on the market that has 4.88 acres of land in Rincon, GA which is 20 miles from Savannah. It's zoned for commercial or industrial development
I wouldn't want a self storage place, collecting the small amount of rent each month from many many people has got to be a big headache. Keeping track of who paid and who is behind, etc.
It's actually pretty easy with the PM software available these days. Most of these payments can be collected on autopilot and notifying late payers can be done with a click of a button.
