How To Find A Self Storage Facility

15 Apr, 2024

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SUPER SIMPLE 30,000 ft view of finding a storage facility👇

1. Pick a growing market (1%+ /yr)

2. Search storage nearby

3. Look for facilities that don't have websites or poor/ no google pages

4. Call and say you're purchasing a facility in the market and reaching out to other owners to intro yourself. Plant the seed

5. Eventually on will bite and mention they've thought of selling

6. QUICK VALUATION:

Annual Gross Revenue

X .85 - 15% vacancy

X .62 - estimated expenses

/ Cap rate

= ~ Purchase Price

7. Shoot them an email with a Letter of Intent (LOI)

➡️ Oversimplified, but it works :)