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
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
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
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?
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...
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
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.
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
So basically mega cash flow income and minimal headaches! I'm all in on this early retirement idea 🇺🇸
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
How much did it cost for you?
Awesome and very encouraging!
This is really encouraging! Please do provide us with your progress when you can. Congrats again🎉
Great video! Thanks for the helpful info!
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
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.
Smart
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
Thank you!
love love your videos - i’m looking to dive into the storage business - I know timeshare sales - what do you think i should focus on first
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 much is reasonable to pay for a storage facility? I feel a lot of them are asking over what it should be.
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...
Good video! Can you break down costs and pricing?
Great info do you sell after a certain time 3 years 5 years
Great video. What software do you use to manage tenants?
How do you value your facilities when buying one? Is there a formula you use?
What software do you use to rent the info?
What if you want to see the unit before you rent it?
We drill our cylinder locks out with a hole saw and have the tenant pay us for the lock. We do have a full time person though.
Do you ever have ppl living in the unit?if so do you let them? how do you go about it?
What software are you using for management?
Do you have issues with non-renters taking open units and using them w/o paying with remote operations?
The ones I've been to, they use company locks on them when not in use.
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
I have been wanting to get into a storage unit mainly because of the low overhead. How much did you buy the property for to begin with?
What's the difference? Do you think they all cost the same?
It doesn't look very secure
I hope he updates security soon.
In a White town it will be fine
@@haroldgarling1063😂🤦♂️
A little racist but also super true
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.
Is there insurance for people shooting your building?
How much does the software cost to use to manage the facility?
I heard 600-1500 for small set up... A guy with 2000 units sad it was more like $6000-$10000
How much do they cost on average?
How much does a car cost on average?
@@joevarga5982 average msrp for a common car $21-36k thanks for the sarcasm
Do you think storage units are a better investment than campgrounds?
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
what software do you use?
Easy storage solutions
Those look so easy to rob with nobody around and no fence or gate. Yikes!
What software do you use for management?
I didn't see any cons
Besides the guy that keeps shooting at it lol
replacing the bolts on top so water doesnt get it, changing the landscape so water doesn't get in under doors.
the Lock situation too.
If he only knew a friend who was building a new storage unit on their property to point out the real cons to....need an investor btw? :D
Storage containers into tiny homes 🤔 who is bold enough and rich enough to try it?