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FIRST FACILITY
71 members • Free
StorageAce
456 members • Free
10 contributions to StorageAce
16d •
Mom and pop owners with no electronic records
How concerned should I be about a facility that does not have the electronic records that we're used to seeing from management systems? The property is being sold by a broker who has created a nice OM. However, the limited info that they got from the older owner was handwritten on notebook paper. I can tell the owners are an older couple that are not tech savvy. How do you go about verifying income, rent roll, and etc? What pitfalls to lookout for?
1 like • 8d
The lack of good records is almost always indicative of upside being available. That said, it can be a hurdle for a bank loan. I would press forward......a great deal can attract money.
1 like • 6d
@Tommy Xaysongkham "I wasn't fully comfortable with everything prior to submitting the LOI, but figured I will work that out during DD if it gets to that point." YES!
15d •
Self Storage Owners/ Operators
Question for self-storage owners/operators: If you acquired a mom-and-pop facility that had: - no website, no Google Business Profile, no security cameras, no automated gate, minimal lighting What order would you prioritize improvements in? Part of me thinks: Create the Google Business Profile first (since it’s free) Build a basic website Implement management software/system Add cameras Add automated gate + improve lighting But I also wonder if putting photos online before adding security features could hurt customer perception and reviews. Curious how experienced operators would approach this operationally and from a marketing/customer trust standpoint. What would be your first move?
1 like • 8d
Software and loading tenant info into it so you can communicate with them via the software is number 1 for me. GMB profile is next, then making sure the gate system works well and connects with software.
27d •
Introduction
Hey everyone, my name is Jeff. I’m excited to be here and ready to learn. I’m currently working on building new income streams and creating more financial freedom in my life. Storage facilities caught my attention because of the long-term potential and scalability, so I decided to dive in and really understand how this business works. Right now, I’m focused on learning the fundamentals—how to find deals, analyze numbers, and eventually acquire my first facility. I’m not afraid to start small, I just want to start smart. Looking forward to connecting with others here, learning from your experiences, and taking consistent action. If you have any advice for someone just getting started, I’m all ears. Let’s grow 🙌
3 likes • 26d
Welcome aboard!
Mar 24 •
Rude broker
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?!
2 likes • Apr 6
Personally I think this COULD be opportunity. Make you best guess and offer. While others move on.
3 likes • Apr 8
@Ashley Zhang yes, let's dive into that. You dont like calling - many of us have this same issue. What is the real fear, what can he do? Yell, hang up rudely, turn you in to - who? Nothing really. It's the fear of rejection most likely. If you think abolut it, really we are coaching you on sales first, with sales being cold calling for possible sellers. Selling the fact that you can buy their facility. Most people you talk to do not need this service - that's a fact. In Sales we learn that it is a numbers game. You keep calling until you find someone who needs your service. It would be no different if you were cold calling and selling window washing for homes, or life insurance. Learning to brush off the No's and follow up anyway is the art of selling. Get this and you will do well. In this case it's even easier because you have a broker who, despite being rude, wants to make a commision. You make the offer, he has to present it, if they say it is low you can can resopond with the assumptions you had to make without good numbers and that if you knew the real numbers you could perhaps pay more. One idea is to have a mantra you say when the rejection comes. "Nothing will stop me - I will keep going untilm I get a deal!" or whatever works for you.
Feb 14 •
Painting
Anyone have painting done recently and have a recent quote they can share on price per sf?
0 likes • Mar 9
@Jake Marsh This guy used to work for Mike Puirvis and left to go into business and directly compete with Mike. There is bad blood there. If you get both to quote and they know that, often the price can come down. I've used both and the work quality is similar.
1-10 of 10
@ken-holmes-2805
I have purchased 13 facilities and currently own 5, all in the southeast. Moved from flipping houses to Self-Storage in 2018 and have not looked back!
Active 2h ago
Joined Jul 11, 2025
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