How To Find A Self Storage Facility
Tweet · Apr 15, 2024
LinkedIn Post SUPER SIMPLE 30,000 ft view of finding a storage facility👇
Pick a growing market (1%+ /yr)
Search storage nearby
Look for facilities that don't have websites or poor/ no google pages
Call and say you're purchasing a facility in the market and reaching out to other owners to intro yourself. Plant the seed
Eventually on will bite and mention they've thought of selling
QUICK VALUATION:
Annual Gross Revenue
X .85 - 15% vacancy
X .62 - estimated expenses
/ Cap rate
= ~ Purchase Price
- Shoot them an email with a Letter of Intent (LOI)
➡️ Oversimplified, but it works :)