🚨 What's Possible in Self Storage? 🚨
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.
What would YOU have done if you saw a 57% expense ratio on a self-storage facility?
Drop your thoughts below. 👇
And if you have questions about how we found the opportunity or increased the value, ask away.
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🚨 What's Possible in Self Storage? 🚨
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A community helping people break free from the rat race and build real freedom through self-storage investing.
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