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💰 Self Storage Power Hour 💰 is happening in 6 days
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First Facility
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...
First Facility
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Check out this storage win 👇
Hello, StorageAce Fam - I just shared something on Facebook that I think you’ll want to see. Back in April, I closed on Beckley Mini Storage.Six months later → revenue is already up over $4,000 per month. That single change created about $600,000 in new value. And here’s the kicker…I pulled the screenshot straight from my facility management software and posted it. No fluff, no theory — just the real numbers. 👉 https://www.facebook.com/demink/posts/10162213977617153 If you’ve ever wondered what this game looks like in real life (not just in theory), this is it. Talk soon, Dave P.S. The chart says it all. Go take a look.
No Power Hour Call Today
Hello StorageAce Fam - Quick heads up that there is no Power Hour call today - it's Spring Break for my family, so I'm taking a week off and recharging the batteries in Palm Springs. See you next Tuesday - same time, same place. Dave PS - I have an email coming later today on what 99% of people get wrong when they think about raising money for their deals. Be sure to check it out
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How to qualify a lead in 20 mins?
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? 
Reviews
Hi All! We closed on our second facility last week and are hoping to get some positive reviews going on our google page. Would love to return the favor for anyone that leaves a review and will be eternally grateful! Thank you https://share.google/y9Z3jScVNKiKEqCtP
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