This is where we look for self storage facilities(demographics) and the exact tools/process that will help us get there…..
We operate 25 self storage facilities.
We own 22 self storage facilities with no outside capital.
We have started to raise money with the goal of 100 facilities.
high-barrier-to-entry markets - there is a limited amount of zoning for them or they have a moratorium on self storage.
This all limits competition.
Areas that are under-supplied in terms of existing self storage facilities (i.e., less than the U.S. average of 7.4 SF of self storage per person).
self storage properties with retail real estate characteristics - good visibility, high traffic counts, high land values and much curb appeal
This one is important traffic count is huge, we look for 15k and up
Facility with high average rental rates particularly the 10x10
Tools….
@storEDGE
for mgmt & gate software, websites, payments
A lot of people use Easy storage solutions, I found Storedge to be easier for a bigger portfolio.
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@SpareFoot
for helping to fill units.
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@GoToConnect
for phones
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@GoogleWorkspace
is for email, cloud and internal chat system.
Basically any business I start starts with Google.
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@CallTools
for our cold calling team.
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@QuickBooks
for accounting
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@Payoneer
for overseas employees payments
- Many different sources for hiring overseas for hiring and finding talent.
Hopefully a few will chime in.
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@NotionHQ
for marketing and instructional videos.
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@storagetreasure
for auctions
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DavinciLock.com for locks these have been a game changer.
Other options are too expensive.
We have a call center to answer the phones if they don’t answer it goes to the boots on the ground.
We use Facebook marketplace to find our boots on the ground and local contractors.
That’s about it.
See you at 100 facilities!!!!!!!