Hi All, So on Crexi we are seeing self storage auctions for facilities. My question is how the auctions are executed and what possible offer choices can you do. For example: 1) Can you put in a master lease agreement ? 2) Can you put in a seller financing agreement and terms? 3) Purchase Conditions: Deposits (refundable or not), Financial, Review rent roll and expenses... 4) How long does an auction for a property last? All offers come in like a silent auction. Then after 8 hrs of accepting offers, then the seller reviews the offers and responds. Or is it just a fixed price? then goes up in real time and you have to be ready with your price and conditions and submit it in. Is it free to enter an auction? Thanks in advance for the help.

Hi All, I'm new to self storage and I would like to find out what most of you use to identify if a self storage is a value add facility. I'm currently doing the following: 1) Below market rates in the area. 2) Possible to reduce operating expenses (Remote management, or remove staff, utilities reduced, etc). 3) Property is rundown and needs paint or paving or fencing or broken doors or bad drainage etc 4) Occupancy is low < 50% 5) Make it more secure with fencing and cameras and security gate 6) Joint venture with U-Haul to get additional revenue (they can park on the lot for 30% of revenue etc) 7) No signage or website I would love to hear what others are using as criteria? Thanks in advance for the help