http://www.selfstoragetalk.com/ Building, developing and financing self-storage: site selection, feasibility, due diligence, zoning, design, layout, building components, loan types, lending options, rates, working with lenders, and more. en Mon, 06 Sep 2010 22:18:00 GMT vBulletin 60 http://www.selfstoragetalk.com/images/styles/Skylight/misc/rss.jpg http://www.selfstoragetalk.com/ http://www.selfstoragetalk.com/construction-development-financing/3647-do-you-use-u-s-doors-w-walk-thru-doors.html Sat, 28 Aug 2010 15:59:13 GMT does your facility use the u.s. door rollup doors with the incorporated walk thru doors? i have a rv facility that i used large janus rollup doors in phase one. i have not had too many problems with these doors, and would use them again, but i have found that i really need to have walk thru doors... does your facility use the u.s. door rollup doors with the incorporated walk thru doors? i have a rv facility that i used large janus rollup doors in phase one. i have not had too many problems with these doors, and would use them again, but i have found that i really need to have walk thru doors on phase two along with the large rollup doors. if i just add the walkthru doors along side of the rollups i will be wasting alot of floor space. i did see that u.s. doors has a rollup door that has a walk thru door that folds to the side when the customer needs to use the rollup. if your facility uses them please let me know if you like them, do people forget to open them all the way and cause door damage? are they easy to operate or a pain in the neck? thanks sheryl ]]> Construction, Development and Financing sheryl http://www.selfstoragetalk.com/construction-development-financing/3647-do-you-use-u-s-doors-w-walk-thru-doors.html http://www.selfstoragetalk.com/construction-development-financing/3619-selling-off-self-storage-help.html Fri, 20 Aug 2010 13:16:41 GMT Hi, I,m new to this forum, but been in the moving and storage industry for over 15 years. We have sold our moving business and now have an empty self storage facility left to off load... it is situated in a rental unit. My question is.. since the lockers are empty due to the fact that we... Hi, I,m new to this forum, but been in the moving and storage industry for over 15 years.

We have sold our moving business and now have an empty self storage facility left to off load... it is situated in a rental unit.

My question is.. since the lockers are empty due to the fact that we havent been doing self storage in years, we have been storing big government contracts. So we dont really have financial paper work.

however i do know the income potential... how do we put a value on these??

we have 86 lockers (5x5 to 10x10) they cost us about 125k to built (2 levels)

rent 4500$
heat & hydro 300
alarm 50
general maintenance 50

total monthly income when full (which we were able to do, and keep a waiting list) was 11,815$

yearly net profits were a little over 80k

and what would the value be if we just sell it as a 'start up business' ?


I know if I put a 3x plus assets.. i would be looking at about 340k.. we are asking right now 38k ... ]]> Construction, Development and Financing storage203 http://www.selfstoragetalk.com/construction-development-financing/3619-selling-off-self-storage-help.html http://www.selfstoragetalk.com/construction-development-financing/3575-looking-buy-valuation-methods.html Fri, 13 Aug 2010 01:22:13 GMT Hello everyone,

I've been researching both campgrounds and self storage facilities for going on a year now, and I believe I've finally found a self storage facility that fits my criteria. But, I'd love to hear everyone's opinions on placing a value on a facility and making sure I get it for as good of a deal as possible and the sellers are happy with their end of the bargain, as well.

In the campground business, from what I understand the general rule of thumb is 8-10 times the park's true net income before debt service. Obviously other factors play a role here, such as nearby competitors, surrounding attractions/reasons to stop in, location in relation to interstates, and cap rates.

Is there a similar rule of thumb for pricing self storage units, as well? When looking at a facility or multiple facilities, should I be looking at a "top 10" list of things or items that should check out before proceeding?

Also, in regards to financing, it seems a lot of park owners are willing to owner finance a portion of the 25% down payment to help new owners without all the money required down to purchase their park. Is this normal in the self storage business, as well?

Also, is there a general rule of thumb for optimal occupancy for maximum profitability?

I have so many questions...sorry folks, but I'm at the point I'm ready to make a decision on some properties. I'd really appreciate any insight into the above questions or anything else you'd like to share for a first time investor. I will note that the properties I'm looking at have kiosks with a telephone, electronic gates, and are currently managed by a call center providing instant access for the customer if needed. I'll be planning to continue to run these locations remotely in the same fashion, but instead of the call center, the calls will be fielded by myself and my wife in the beginning.

If I haven't provided enough information to make any recommendations, please ask me for more info...I'll gladly provide it to get good feedback from other experienced owners in this business.

Thanks in advance for your help! ]]> Construction, Development and Financing ravencr http://www.selfstoragetalk.com/construction-development-financing/3575-looking-buy-valuation-methods.html