Best wishes in the journey, I hope you achieve it!
@abbar1122
2 жыл бұрын
@@TheSelfStorageGuy thanks any advice
@cremls
9 ай бұрын
Very excellent. Great job 👍
@TheSelfStorageGuy
9 ай бұрын
Thank you Kurt
@jazzbeau507
2 жыл бұрын
Congrats!
@waterisgood6205
4 жыл бұрын
How did he get 40k? He worked his ass off and saved! Loved it.
@TheSelfStorageGuy
4 жыл бұрын
That's it! There are no short cuts.
@spidertiger6374
4 жыл бұрын
Yea ok
@dr.vonslifeinvesting6485
4 жыл бұрын
Exactly
@pay99002
3 жыл бұрын
It is the best way. However, an option of going no money down would be to get the seller to finance 20%-ish to cover your down payment requirement. So, that's one way.
@educanimal87
3 жыл бұрын
@@TheSelfStorageGuy Waiting for Crypto Surge and Cashing out. 2.5k to 230k Been waiting 2 years. 🙏🙏
@Stories10190
3 жыл бұрын
How easy is it to find storage units to buy and where do I find these?
@robertvolz68
2 жыл бұрын
Sites like Loopnet sell businesses and there are other sites like it.
@glh2103
2 жыл бұрын
Great video. Thank you. You're about the $40k. A good goal for a newbie like me
@investusrealestateproperty1507
3 жыл бұрын
Great message! Thanks for sharing your experience.
@TheSelfStorageGuy
3 жыл бұрын
Thanks for listening!
@earlybird107
Жыл бұрын
Where do you find deals ?
@TheSelfStorageGuy
Жыл бұрын
I just talk to people that own the property and work out a deal.
@adamholbrook2281
4 жыл бұрын
I'd love to hear more about the business side of running a self storage business. Maybe some deal analysis and how to determine their worth when you are looking for property to buy and some of your lessons learned. I'm sure owners have a way of skewing things ie hiding their own labor cost and other expenses etc. to drive up their calculated value. How do you determine their cap rate? Any insight into management especially remotely would be great. Thanks for the content. I appreciate you sharing your experiences.
@TheSelfStorageGuy
4 жыл бұрын
These are fantastic topics Adam and they are certainly on the way, those types of vids just take longer to produce 😁
@adamholbrook2281
4 жыл бұрын
Thank you. I appreciate that. I made contact with a local owner. He gave me a rough price quoted at based on a 5-7% cap rate mine is worth X. I don’t mind paying what it’s worth, but it’s hard to imagine it being worth what he said because we live in a small town of about 4K people and basically no growth. Of course just playing with number they’res a huge difference in value based on the cap rate figure used. He has nice buildings, but they’re 10-20 years old some newer than others. He did say he had a contract to build another building, so I’d surmise he’s doing a pretty good job keeping them filled. Any insight into what I should use as a cap rate? Most are fenced in and gate access. Additionally, there are other units in my small town.
@patstar5
4 жыл бұрын
I have the same questions
@pacifictribe586
2 жыл бұрын
I have 5 lots right by each other that totals 45k sq ft. Would that be an OK size for building a storage facility and if so, how much would it cost to build one.
@homesteadroofing
2 жыл бұрын
Wouldn't the cost of a storage property be $1M - $2M or more? How do you do this for $40k down?
@CHRISJ0AN
4 жыл бұрын
Can you make a video on how to find storage businesses for sale?
@TheSelfStorageGuy
4 жыл бұрын
Yes will do! Suffice to say for now that I source my own deals through direct mail, cold/warm calling, and walk in visits
@fiktxun4472
4 жыл бұрын
Look for it on the internet
@GUYFROM2047
3 жыл бұрын
I’ve found many with Google Bud can’t own a business if you can’t go out your way !
@vgman94
3 жыл бұрын
@@TheSelfStorageGuy Walk in visits? As in going into businesses and inquiring if the owner is interested in selling?
@Lay3r8
4 жыл бұрын
Thank you for the video. Can you put more details in your videos around math behind the investment and steps you took? How much you put down, how was the loan structured, what is the occupancy, how many units, Cash flow per unit or as a whole, or other similar details.
@TheSelfStorageGuy
4 жыл бұрын
Hi Ben, absolutely - more of that coming soon
@Danr07
4 жыл бұрын
Looking forward to learning more about this. I am facing a mandatory retirement in about 10 years and I think self storage units as an investment income will help supplement my pension greatly. I’m also in NC and see lots of commercial property potential around my area. I’ll subscribe and take note of any future advice and insight you can provide. Thanks!
@TheSelfStorageGuy
4 жыл бұрын
Thanks Dan! Self storage is a stable, fairly low effort investment. I think it's a great retirement vehicle.
@HDBnB1
4 жыл бұрын
Do you have any videos describing how much this self storage business is bringing in per month?
@TheSelfStorageGuy
4 жыл бұрын
I will be making this video very soon, I get a lot of requests for this :)
@HDBnB1
4 жыл бұрын
@@TheSelfStorageGuy looking forward to it! I really want to learn more about this and get into it as I feel it would be a good addition to my assets rather than just real estate
@RyanJander
3 жыл бұрын
What all did you need to get that loan? Any advice for veterans?
@TheSelfStorageGuy
3 жыл бұрын
Hi Ryan, You need at least 10-15% to bring as down payment and they will ask for a lot of financial data such as 3 years tax returns. Great question about veterans, I'm honestly not sure. There may be other benefits available to veterans but I've not looked into it.
@kaykang5551
2 жыл бұрын
Great video. How did you finance it?
@TheSelfStorageGuy
2 жыл бұрын
Hi Kay, it was an SBA 7a loan
@omarseera9960
4 жыл бұрын
So the loan was $400.000 ?
@TheSelfStorageGuy
4 жыл бұрын
Yes, it was approximately $400k
@omarseera9960
4 жыл бұрын
The Self Storage Guy how you get the loan ? I mean what you did ?
@TheSelfStorageGuy
4 жыл бұрын
@@omarseera9960 great question, I'm going to do a video on that very soon as it is a lot to explain in a comment :-)
@booneflm
3 жыл бұрын
I liked that fact you said I saved up 🙏🏽
@TheSelfStorageGuy
3 жыл бұрын
Yes sir, sometimes that's the only way 😎
@joepartington1077
3 жыл бұрын
Which software management company do you use?
@saltysergeant1620
2 жыл бұрын
How do business loans work as far as payments. Do they wait till the business opens its doors or 30 days after receiving loan. Thank you
@nanomachines2985
2 жыл бұрын
If you started over and went back in time, and you had the resources or even the same loan, would you buy that property again or would you wave a magic wand to erase the existing facilities and build your own on that same plot? Follow up question: how is that facility located? Middle of nowhere, near a downtown area, just outside of town, is it a big city (Houston, New York, San Francisco, etc) or a smaller city? And if you had another magic wand, would you move that facility somewhere else? Thank you!
@TheSelfStorageGuy
2 жыл бұрын
Interesting questions. This facility was located on the town limits (in the town, but barely). This was a town located in a 5-mile radius with about 5,000 people. This was never a build location in my mind. If I had a chance to do it again, I would probably buy it just like I did. That's a tough call though. This was 2015. It worked out well for me. However, knowing what I know now, I might have used the money and bought Bitcoin instead :-)
@nanomachines2985
2 жыл бұрын
@@TheSelfStorageGuy haha I think a lot of people would have bought a lot of bitcoin back then! But thank you for your response, every bit of information helps!
@kar3n35
3 жыл бұрын
I been looking for storage and they are all packed. People needs storage. Ifound a place where they just habe containers on the ground. And i guess if i lease vacant land and buy 15 containers i could get started and i woulnt have to do anything. When i rented it i made payment through etranfer and thats all. Im Really intrested.
@TheSelfStorageGuy
3 жыл бұрын
No better time to get started!
@sameerdada840
2 жыл бұрын
How did find the first property to buy?
@TheSelfStorageGuy
2 жыл бұрын
I direct marketed to property owners through the mail.
@aquilalawncare5629
3 жыл бұрын
Do you believe it’s better to build them or buy them already built
@TheSelfStorageGuy
3 жыл бұрын
It really just depends on the market and your personal skills / financial capability. Generally speaking, if you are new to the business - you're going to be more profitable buying an existing property. They are less risky and less capital intensive. Heck, even if you are a pro - you need a really good reason to go build one. There are so many variables with a build that can screw you. The middle ground might be buying an existing facility with room on the existing property to expand.
@karl-lo1up
11 ай бұрын
Help
@jshivprashad
3 жыл бұрын
Are you accepting Partners?
@darwandoo
3 жыл бұрын
Hi can I ask what state your in?
@Kingjacob55
4 жыл бұрын
Hey happy I found you’re channel new sub! I was wondering how many units are at this location and what’s the average rent a month per unit? Thanks
@TheSelfStorageGuy
4 жыл бұрын
Hey Jacob, off the top of my head the average rent per unit was around $70/month x ~150 units
@tinajsews2835
3 жыл бұрын
Repent , Jesus Christ is coming back Repent..,
@countrykindaguy366
4 жыл бұрын
On an investment of this size how quickly do you expect to pay off your loans etc and start generating pure profits? I am generally new to investing but see a need for this in my area and think this might be a nice way for me to somewhat get away from the 9-5 job and start journeying out a little more.
@TheSelfStorageGuy
4 жыл бұрын
Great question! For me "pure profit" happens after I recoup my initial investment. That took a couple of years. If you mean how long until the property is free and clear, that really depends on the debt structure and how aggressive you are paying it off.
@francobug
2 жыл бұрын
Hey buddy quick question. If someone where to have one of these places built brand new would it still cost about the same or more?
@mohammadalabedredha9280
4 жыл бұрын
What kind of market are you in to get a 400k facility and how many units? Also what year did you buy it?
@TheSelfStorageGuy
4 жыл бұрын
~150 units in a rural market (6k people in 5 mile radius). Bought in 2015.
@mohammadalabedredha9280
4 жыл бұрын
The Self Storage Guy Also did you buy directly from a mom and pop shop or did you have a broker help you?(Can I also get your email because I have a wave of questions and I’m in love with your channel)
@TheSelfStorageGuy
4 жыл бұрын
Hey Mohammad I sourced this deal myself (no broker). Feel free to PM me on my Facebook page!
@mohammadalabedredha9280
4 жыл бұрын
The Self Storage Guy Sent you a message on Facebook along time ago but what are some of the value add strategies you implement in your facility?
@conceptdesigns4100
4 жыл бұрын
Thank you!!!! Its been extremely hard to find somebody that has given actual numbers. Quick question, how long did it take to get return apon investment???
@xXJTHoltXx
2 жыл бұрын
40k down??? Don’t most lenders like to see at least 30% since it’s month to month?? Not sure how you managed to pull it off I’d love to hear more
@TheSelfStorageGuy
2 жыл бұрын
The SBA 7a loan product will easily go 90% ltv. The month to month nature of the customer rental agreement didnt play a factor at all. The the debt to income service ratio is the primary driver. They wanted to see that the net operating income of the property is at least 1.2-1.3 times the debt service. Those ratios may be different now as I haven't shopped the market lately, but the premise is the same.
@xXJTHoltXx
2 жыл бұрын
@@TheSelfStorageGuy gotcha? Any reason you have not shopped the market lately? Bad time to buy?
@TheSelfStorageGuy
2 жыл бұрын
@@xXJTHoltXx I've just been enjoying the existing property I own and living life. Sometimes you ebb and flow in your career and i guess I'm ebbing at the moment 😎
@shotgunboy0013
4 жыл бұрын
I’ve been looking at storage containers for a while now. I am currently only a teenager so it will be quite a few years before I could invest in one so do you think this is a business that will still be around 10-20 years from now?
@TheSelfStorageGuy
4 жыл бұрын
It's good to start planning early! And yes, I forsee the storage business being around for many more years
@nelsonh1767
4 жыл бұрын
Hello Storage Guy...just found your channel. You may already know... there are products and services that can help old worn out facilities return to like new condition, increasing the value of the property. Not referring to yours, it looks great. Have you ever considered buying a tired looking site in a good location and fixing it up?
@TheSelfStorageGuy
4 жыл бұрын
Hi Nelson, you are quite right - there are many cost-effective products that can breath new life into a tired location. I do quite often look for properties that have aesthetic issues (not major issues) so that I can push rates after creating a cleaner, more enjoyable environment for people to store
@fixingstufff
2 жыл бұрын
Hi Selfstorageguy. Question.. is this a franchise or 40k bank financing to be your own?
@TheSelfStorageGuy
2 жыл бұрын
Not a franchise. This was a direct buy from a local owner.
@fixingstufff
2 жыл бұрын
@@TheSelfStorageGuy thanks or the quick response 👍 😀.
@mdsloads
4 жыл бұрын
You bought all those units for 40000.00?
@TheSelfStorageGuy
4 жыл бұрын
Yes indeedy
@mdsloads
4 жыл бұрын
The Self Storage Guy , you definitely found a deal if that’s the case.
@shannonp4037
3 жыл бұрын
$400,000 total, not $40,000. The $40,000 was his down payment. He borrowed about $400,000 extra.
@bobbywhitti9931
3 жыл бұрын
How can i do what you did? I got a little more then what you put down,here in los Ángeles California there is not such of thing like your story
@TheSelfStorageGuy
3 жыл бұрын
Hey Bobby you may need to branch out to other Cities or even states if your area is cost prohibitive.
@bobbywhitti9931
3 жыл бұрын
@@TheSelfStorageGuy any states that you may recomend to start off, with a bank work easy on you? What I see hard to get is the bank loan, i dont have cradit at all thanks for your tips, dude.
@groovies1000
4 жыл бұрын
Hey self-storage guy quick question.. on an average size storage unit facility would a $100,000 investment merit a 6% return on a yearly basis. Any thoughts would be helpful thanks....ps again just a ballpark figure
@TheSelfStorageGuy
4 жыл бұрын
Hi Jay, that really depends on a number of factors such as the project (build vs buy), type of return you mean (CoC, IRR, etc) and how you are investing the money (i.e. as owner/operator, passively via syndication, REIT, etc). For simplicity, if we're just talking about annual cash on cash return on an existing facility acquisition - you can easily make in excess of 6%. The facility in this video was making me ~50% annual CoC return.
@groovies1000
4 жыл бұрын
@@TheSelfStorageGuy by chance are you looking for equity investors..
@LittleCupid1
2 жыл бұрын
thats so cheap in israel it will cost millions for a place like that.... people dont know how well they got it...
@TheSelfStorageGuy
2 жыл бұрын
Yes, great point. It's getting harder with currency debasement. I doubt I would get that same deal as of this writing. However, there is always opportunity if you have the faith and work ethic to go after it.
@blakerich5804
3 жыл бұрын
40k?!?! That isn’t shit. I can’t buy commercial land under an acre in my area for under 2 million. Where tf do you live that you can afford a business with only 40k down?!?.. I have 250k cash.. let’s team up and invest in a deal.
@lilliansalem1581
2 жыл бұрын
Hi there! - would you be interested in a self-storage facility (100+ units) in North MS? Asking 1.2m. 10% Cap Rate. I have a client looking to sell his entire facility. I'm a licensed realtor in MS & TX.
@lilliansalem1581
2 жыл бұрын
90% Occupied
@matthewyates2735
4 жыл бұрын
Great video , I did not realize you could get a 90% LTV on commercial property before your video . Could you expand on the financing and or your plan for refinancing and how the current historically low interests are playing a factor in your decisions. Thank you
@TheSelfStorageGuy
4 жыл бұрын
Matthew yes, lenders look favorably on self storage due to the lower risk nature of the business. As I've had multiple questions about the financing. I'm going to do a video very soon where I break down the terms of the loan and how it factored in to my decisions.
@ianmoore6165
4 жыл бұрын
@@TheSelfStorageGuy Hi SSG - that would be fantastic - did some flips and now have the money to invest but not sure where to find motivated sellers - willing to relocate to anywhere so would like speak to you some time on how to find sellers. - Appreciated!
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