I asked three years of p&L and questioned why there wasnt any utilities, marketing, internet phone expenses, etc? However the broker didnt send me what I asked, instead he litterly told me, use number xx for income, use xx for expenses, and vacancy is xx. P&L was same for past three years. If i want to submit offer then contact him. I may do a back of the napkin underwriting, however how can I get a loan based on such a limit information?!

Anyone have painting done recently and have a recent quote they can share on price per sf?

A bottleneck for me is keeping up with too many leads to underwrite and make offers on. My VA is bringing lots of leads, but I can't keep up with them all. I spend too much time underwriting a deal, estimating expenses, doing a market rate analysis, figuring out what value add there is and where an offer would make sense for me and it doesn't allow me to keep up with all of the leads coming in. How can I spend 20 mins instead of 2 hours determining if a lead is worth diving deeper into? I use the range finder to quickly come up with a rough value of the biz based just on 35-40% expenses and applying a cap rate, but going one step deeper (but not as far as a full underwriting), what are others doing? I do some quick math using their revenue, applying a quick 35-40% expenses and then applying a 8-10 cap rate to give me a very rough value, but going one step deeper (but not as far as a full underwriting), what are others doing? Do you treat these all differently or qualify them differently? - on market vs off market deals - How do you determine if a deal looks like a deal you could wholesale - a 3-5 year optimize and sell - and a buy and hold? 

StorageAce fam - Many of you are here because you’re learning the basics of self-storage — how it works, why it’s attractive, and what it could look like as a path to ownership. Behind this free community, I also run a boutique self-storage coaching program called FIRST FACILITY, designed for people who want a clear, step-by-step plan to go from getting started to owning their first self-storage facility in 6–12 months or less. I’m excited to share that @Ken Holmes has officially joined the FIRST FACILITY coaching team. Ken has completed 14 self-storage deals and is known for helping investors cut through confusion, simplify decisions, and take confident action — instead of getting stuck in research mode. Together, we help members move forward with clarity, support, and accountability — without trying to figure this business out alone. If you’re at a point where learning is no longer enough, and you want help turning this into a real plan, the best next step is a clarity call. No pressure — just a conversation to map out where you are, what’s realistic, and whether FIRST FACILITY makes sense for you. 👉 Schedule a clarity call here Full announcement attached

We closed on our first facility. Thanks to everyone in the Storage Ace community who gave some guidance along the way. I've been in residential real estate for over 30 years and thought it would be somewhat of an easy transition into self storage. That definitely was not the case. Finding the deal was the easy part (for me). But I didn't realize how much I didn't know about self storage and how much is involved after you get the deal under contract. (The following is an unsolicited endorsement). Once I got the facility under contract I joined Dave's coaching group. I decided that I didn't want to waste time trying to figure it out on my own (which I tend to do). Of all the classes, conferences, groups I've joined or spent money on over my real estate career, this by far was the best money I've ever spent. Dave, Ken & the group helped me get to the closing table. Without their assistance I would've been lost trying to put everything in place to get the facility online and start the process of turning it around. As I mentioned before, there is A LOT I didn't know about storage. A lot of details (most of them simple processes) that if you weren't aware of could cost you a ton of time and money. Dave helped with all of that and continues to help as we get this thing rolling. If you're new, serious about getting into self storage, and serious about closing on your First Facility I would highly recommend checking out Dave's coaching class so you can cut to the front of the line and get that first deal. Time to find another one...