Owning a storage facility has a lot of pros and cons. Hopefully this video will help you understand more of the behind the scenes of investing in storage facilities.
Thanks for sharing! I recent purchased my first storage unit about 2 months ago. It's small 60 units, it was not getting the proper care by the previous owners. So it only had 4 tenants. Now with new management signs new name and marketing physical and online. We have 10 extra tenants in 2 months of operation. Loving the challenge.
Hello, I'm very interested in possibly investing in a few ventures. I'm in Georgia, so the possibility of working with someone remotely would be perfect. If interested in some type of business venture please let me know. Thanks
Great video. We own several mobile home parks where we have built storage facilities within the properties. It adds additional revenue and gives the tenants space to store things so they are not around their homes. I am in the process of looking for my first stand alone storage facility.
I had a mobile home park that would have been perfect to put up storage on but I recently sold it. I’m second guessing selling all of my parks already.
Hello, I'm very interested in possibly investing in a few ventures. I'm in Georgia, so the possibility of working with someone remotely would be perfect. If interested in some type of business venture please let me know. Thanks
My husband's parents have land they are sitting on outside of Raleigh. I am trying to pitch this idea to them to generate much needed $$. Makes sense to me.
Hi sir, a few questions. 1) How did you fund this purchase? Cash or are loans available? 2) Doesn't look like units have climate control (maybe I'm wrong) What are you thoughts on climate control? 3) Since you have no exterior fencing, are you ever worried about security issues? 4) Do you have extensive security cameras installed? 5) What do you think about buying units that you can't personally visit, like out of state? 6) Do you require tenants to have renters insurance and/or do you offer such insurance as an option? I'm really looking to get into this and have some funds saved up...
Are there any major reason not to use shipping containers for units? I own a piece of land in town and am looking at putting units on it and it seems way more affordable and then I can always sell them if I decide to sell the property and it can still be used for other things
Yep, first thing I thought when video started. In Australia, no storage facility would operate without a 6 foot high spiked aluminium fence around the entire perimeter.
This is great, I've been looking and trying to connect with other investors on this. This is a beautiful property. I didn't see a sign on the highway... 🙂 What would be your recommended course or education system if you have one?
how did you come up with the capital to buy your first one. If someone this was going to be someone's first business venture, what advice would you give them to come up with capital?
What did you tell the client with the bullet holes in the side of their unit? I'm assuming you need to get in there to fix it and I'm assuming you would want the client to know that their stuff might be damaged. Of course they have their own insurance but just wondering what you would say. For me as a client I probably would want to leave because I don't want my stuff being shot at again.
@@mclome22 Why is this funny? I'm hear to learn the operation of a storage facility. If you guys just don't say anything and hope they never find out, then that's fine. What do you guys do. I don't understand why you people laugh at serious questions. Most likely mclome22 doesn't have a clue. Like wtf is the point of your comment?
@@jeffbailey7328because of economic difficulties, criminals are drawn to rent storage units because its cheaper than having a home or apartment while they sleep at their baby momma’s apartment paying child support, those clients that are in economic difficulties cannot afford a house to put their belongings, that’s why they rent a storage and it’s those same poor people that resort to crimes and damages like that
@@jeffbailey7328Yeah. You would want to notify the tenant to come look at the space and check for personal item damage and preferably let the manager look inside to see if there was further damage to other units. As far as fixing it. Maybe patch it so it isn't easy to look into. I've never encountered a bullet hole so idk.
Kyle - Thanks for the video and really appreciate the info. Im new to this investment. I have a few residentials but really want to get into self storage. I'm exploring a few markets and had some questions: (1) Minimum down payment required. I want the skin in the game, have good credit, and Im thinking about SBA. Whats the lowest down i could get away with? (2) What is your recommendation for finding off market properties. Loopnet seems like trash right now, lol. Everything appears over priced and nothing for the startup. Ever cold call from a county assessor info and not get hung up on, lol. (3) Financing first or target property first (if you are looking for opportunities to invest, did you need to find the target property BEFORE getting financing or can you secure financing options before your collateral is confirmed as a first time investor?)... any help would be welcome...
It’s hard to answer that because they are so different to operate. Campgrounds need 10x more attention to operate but can also be more lucrative. But let me put it this way.. I would prefer own a large portfolio of storage facilities than I would campgrounds because they are easier to operate and systematize.
My family runs our campground 6 months out of the year. Hardest part is start and end of the season, as we have to blow out our water lines for winter, and of course fill them in the spring. We do pizzas and ice cream as well, so you need the office occupied at all times. (As well as food licencing, etc). All that aside, keeping the property nice and affordable spaces is the average task each season, and it's relatively laid back as a business. My goal is to build storage units in the next 10 years somewhere
