This facility just hit the market again... And seeing it brought back a lot of memories because we used to own it. Here's the story. Back in 2021, another investor called me with a lead they didn't have time to pursue. At the time, I was very vocal about wanting facilities with 20,000+ square feet in the Southeast, and this one checked all the boxes. ✅ As we dug into the offering package, one number jumped off the page immediately... 👉 57% expense ratio. That was our opportunity. The facility was owned by a respected self-storage coach and several of their students, so we knew we'd have to look deeper than most investors would. When we started peeling back the layers, we found: • Expensive third-party management • High delinquency • Multiple abandoned units full of trash • Gates and cameras not functioning properly • Poor operational oversight And then we found something even better... Several units were listed as 5x5 units renting for around $25/month. The problem? They weren't 5x5s. They were actually 10x10s. Just correcting the unit mix added roughly 2,000 NRSF to the property on paper without building a single square foot. Think about that for a second. No expansion. No construction. No rezoning. Just better operations and better management. This is why I constantly tell people that value-add investing isn't always about building more units. Sometimes the biggest opportunities are hiding in plain sight. 📍 Purchased: November 2021 💰 Purchase Price: $560,000 Over the next 16 months we: ✅ Cut expenses ✅ Improved operations ✅ Fixed management issues ✅ Corrected unit data ✅ Increased revenue ✅ Added value 📍 Sold: March 2023 💰 Sale Price: $1.2 Million Now it's back on the market listed around $1 Million. The lesson? Most investors are looking for the next shiny object. The best investors look for inefficiencies. Value isn't always created with a bulldozer. Sometimes it's created with a spreadsheet, a phone call, and a willingness to dig deeper than everyone else.

Hi everyone! I’ve joined a couple of calls but realized I hadn’t posted my introduction yet. I’m located in Colorado and am searching for my first deal anywhere in the US as long as the deal makes sense. I’m looking forward to being in this group.

Read this slowly: Excuses protect your ego. Ownership builds your future. This week’s question: What excuse have you been repeating that you know deep down is keeping you comfortable? 👇 I’ll go first.

Hey all, I'm starting to establish the foundation for my first facility purchase. Besides talking to people that may be interested in partnering, I'm beginning to research different markets to focus on specifically. I'm wondering what others look for when identifying favorable markets to begin their search, and if there are any in particular that interest you at the moment. While I work on prepping the capital stack, I'd like to establish the muscle memory of searching for deals and if a market is attractive enough, potentially reach out to brokers in the area. Would love to pick your brains, and any advice is appreciated!