Amazon had some cameras on sale for Prime Days last week. If you missed that and need cameras, there are some Eufy on sale at Costo.

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.

This is a great listen from a smart man sharing data on the market. He operates in the multi family space, but that parallels closely to storage. This explains why we are seeing declining demand in many markets. https://podcasts.apple.com/us/podcast/willy-walker-chairman-and-ceo-walker-dunlop/id1540843402?i=1000764784687

Does anyone own a facility in Louisiana? I just got sent this code requirement, which I've never heard of before - https://www.law.cornell.edu/regulations/louisiana/La-Admin-Code-tit-55-SS-I-1931 Was wondering if they've gone through this process before and how enforceable is it.

Would like to get feedback on auction websites. Are there any benefits to one over another one? I've only used StorageAuctions.com but wanted to see if anyone in the community has any insight. Not sure if it's better to try and find one that other storage owners in the area are using or if that matters much? Do you also post the auction on your social media (FB) pages?