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StorageAce
407 members • Free
Freedom Through Storage
104 members • Free
11 contributions to Freedom Through Storage
3d •
What price/sqft are you looking for when buying?
This is just one of the data points to look at. What price are you looking for when looking to buy a facility? I assume it's a different number for NCC vs CC. I've heard of looking for $60/sqft or less. Is that for NCC, CC, or just and average for both? I guess it could be different based on location, but let's assume this if for tertiary markets.
1 like • 2d
Thanks, @Wes Eaves. I agree that the current vs optimized value comparison is more valuable for existing facilities. I don't look at the $/sf that much, but I know some do. Just one data point to look at out of many to make a decision. Just trying to figure out how they are using it. Maybe it's a quick filter to see if something is worth looking into deeper? $60/sf just seems high to me because I was looking for something in the high 30s or mid 40s range. Wanted to see if I was thinking about it correctly.
0 likes • 20h
@Ying Fu Are you using that price of $60 for all types of facilities in general or do you have different numbers for NCC vs CC?
1 like • Mar 28
@Shane Chapin when you start rolling out the rent increase, is it strictly for units that have the highest variances first regardless of when their last increase was? Normally, those with more recent increases would not have that much variances but you never know. Sometimes people might have some kind of sweetheart deal.
Mar 23 •
🔥 Inner Circle Mastermind Call – 3/31 at 7PM ET
Quick reminder… Our very first Inner Circle Mastermind call is happening next Tuesday, March 31st at 7PM ET. This is not a webinar. This is not passive training. This is where we get into real deals, real numbers, and real decisions. What we’re doing on this call: • Breaking down deals together • Helping you underwrite opportunities • Working through offer strategies • Talking through negotiation scenarios • Diving deeper into operations and execution If you’ve got a deal… bring it. If you’re stuck… bring it. If you’re unsure what to do next… bring it. Why this matters: I’ve seen it over and over… One question. One conversation. One small shift in how you look at a deal… …can literally save (or make) you tens of thousands of dollars. I’ve had a single answer on a call save someone $75K on a deal. That’s the level of conversation we’re having inside the Inner Circle. For Inner Circle Members: Be there live. This is where you get the most value. This is where things start to click. This is where you move forward faster. For Free Members Watching This 👀: This is exactly what happens inside the Inner Circle. Small group. Real conversations. Direct access. No fluff. If you’re serious about buying your first storage facility…this is where you want to be. Want In? You can upgrade and join us for the call here:👉 https://www.skool.com/thestoragementor Or if you want to talk it through first, grab a time with me here: 👉 https://calendly.com/shanewchapin/15min We’re just getting started with this… And the people who show up early are going to be the ones who move the fastest. See you on the call. - Shane The Storage Mentor Real operators. Real execution. Real ownership.
0 likes • Mar 24
Is there a link to join the call coming up today?
Mar 11 •
Calculating the current occupancy
During underwriting, I'm using the occupancy rate to determine the current price. I'm using financial occupancy instead of the physical occupancy. Now how do you determine what the current occupancy rate is? Are you using the current month's occupancy rate or do you use the average of the trialing 12-months so you take the whole off-peak/on-peak seasons into account? Using only the current month's occupancy rate doesn't seem right (will depend on which month you are using), but I want to confirm.
1 like • Mar 11
Thanks for the detailed response. Yes, revenue is a very important part of the equation. Everything is a data point, and we need to put them together to get a true picture. How do you view a big gap between financial and physical occupancy? For example, if the physical occupancy is 75% but the financial occupancy is 60%. I was viewing this as a positive. Maybe the operator is not doing a good job collecting so it should be something easily corrected. And I can use the lower financial occupancy to calculate a lower offer. However, I read somewhere today that it could be a Risk. Not sure why they would say this. Is it because they are bad renters? If so, can't we just get rid of them? Maybe it's being seen as a risk because the occupancy rate will go down immediately after you take over? Also, you will have to spend time and money to move them out?
Mar 9 •
Site visits
Shane and I are very specific with what we look for while on location doing a site visit. We drive around the town and surrounding areas with an entire mental check list. I’m curious what everyone feels is the number one most important thing that you look for in a prospective area
3 likes • Mar 11
I've heard of people visiting nearby neighborhoods to see if there are many cars in the driveways or parked on the streets. That could indicate that they have no room in their garages so more likely to use storage. Also visiting different time of the days to see the traffic pattern as Wes eluded to. I was driving for storage one day and crossed out a potential site since it was very confusing to get to. It looked fine on the map, but I was confused trying to get to it. And that was the only way to get to it.
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@tommy-xaysongkham-2999
In IT and looking to transition career into self-storage. Want my own facility but open to be an active partner or an equity partner. 832-483-7738.
Active 12h ago
Joined Feb 11, 2026
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