I don’t talk about self storage much on this blog (mostly on Twitter (@sweatystartup) but I’ve devoted the last 8 years of my career to the art of putting together storage deals and remotely operating facilities. We own 24 facilities (soon to be 26) and operate over 650,000 SF of self storage. We cut costs by removing the on-site manager and instead wrapping the business in technology.
Package – $2,500
I send you the following documentation by email:
- My monthly cashflow projection model (this is the key aspect of analyzing new deals)
- A list of items you need to get from the listing agent or owner in order to analyze a deal
- My Due Diligence list (after you’re under contract)
- My list of software and tools I use to do a market study and operate a facility
- My prospectus that I send to potential investors (if you plan to raise money)
- My LOI template you can use to put an offer on a property
Prior to our call you get the necessary information from the listing agent, do a brief market study, and fill out the unit mix section of the model.
You have a 1 hour phone call with me to basically walk through taking a new facility through underwriting. Estimating costs, projecting revenue, and figuring out what the facility is worth to you. We discuss and I answer questions on the other information provided on the bullet below.
One hour is included in this package. Additional time available if necessary $500 per 1/2 hour.
Reach out to me for more details @ firstname.lastname@example.org.
This consulting is for folks with $500k+ net worths (or access to potential partners) who plan to purchase a $500k + self storage facility. Buying any real estate asset is risky and its critical you do additional research beyond our call.