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What You Will Learn

Find Them: You Want to Buy a Storage Facility -- But What is the First Steps?

  • The four stages of investing in self-storage
  • The easiest ways to find storage facilities to buy in this market
  • The six different types of markets in the storage industry
  • The 8 different ways you can invest in self-storage
  • What the cap rate is in each of the markets right now so you can easily run your numbers
  • What are the steps to get a storage facility under contract
  • How to build your list of owners
  • Three different ways to contact owners to make offers
  • The price ranges of facilities that are out there to buy
  • How to find storage facilities online

Fund Them: You Got a Storage Facility Under Contract -- Now What?

  • What you need to get from the owners in order to run deal analysis
  • How to run several different offers at the same time
  • Which financing inputs you need to be using to run numbers
  • What expenses should you be using in your calculations
  • The three different ways you need to be running analysis for an overall view of your deal
  • What is capex and how to use it in deal analysis
  • Physical vs Economic Occupancy
  • The difference between cash offers and creative deal structures
  • Getting the owner to seller finance
  • Should I use a bank to buy a facility?
  • SBA vs Conventional loans
  • Getting good at negotiations
  • Running deal analysis - how to do this correctly

Run Them: You Closed on a Storage Facility - Now What?

  • Step-by-step process on how to close your facility
  • Onboarding you facility
  • Getting ready to take payments
  • Getting your property management software set up
  • Picking the correct software to manage your property and tenants
  • How to hire your boots-on-the-ground person
  • How to make sure you are answering your phones
  • Online marketing for tenants the correct way
  • How to present yourself correctly online to get new tenants
  • Making sure you understand the auction process in your state
  • Email marketing to find tenants
  • Communication with your tenants for great customer service
  • Dynamic pricing to the greatest profit