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Hi From MN, where do I start?

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  • Hi From MN, where do I start?

    Hi everyone, I'm completely new to Storage but I'd love to get started. Any advice on where to start looking for the basics? I'm a somewhat experienced real estate investor, having bought and sold about 20 parcels of vacant land since 2018. I'm thinking storage might be a great way to replace my 9-5 income along with land income but not sure how to get started. I've read about maybe finding an existing small storage business and buying that to then improve and modernize but again I've only scratched the surface. Any guidance would be greatly appreciated!
    -Wilford

  • #2
    Hi Wilford,

    Welcome to the self-storage industry and the forums! The best resource to start with (besides here ) is going to be your local self-storage association. It's a great time to get started into educational opportunities as well since March is generally the start of the state and national conferences.

    The Inside Self Storage World Expo was pushed back a little later this year, but I would definitely try to at least attend virtually along with any other virtual events.
    Last edited by Kevin SC; 8 February 2021, 02:46 PM.
    Kevin Kerr
    Storage Commander Cloud Software
    k[email protected]
    Toll Free: 877.672.6257
    Direct: 951.867.4732

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    • #3
      Welcome from CT

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      • #4
        Welcome to the forum from Oregon.

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        • #5
          Welcome! Here's a a video on getting started in self-storage... lots of good info here. Or course i am biased i was behind the camera.
          https://www.youtube.com/watch?v=AQFRVL4VUdY&t=8s

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          • #6
            Welcome from PA
            Joe Krezdorn
            DAK Self Storage
            Leesport, PA 19533
            www.dakselfstorage.com

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            • #7
              Welcome from Alaska

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              • #8
                Welcome from INDIANA

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                • #9
                  Welcome from WA state. Not as cold as Minnesota, for sure.
                  "The comeback is always stronger than the setback."
                  Mom, Navy Vet, genealogist and voracious reader
                  WA state

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                  • #10
                    Hey everyone, thanks for the greetings! I'll be sure to check out that video and look into that website. If anyone else has some beginner's guides or places to read more about the process in general, I'm all for it!

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                    • #11
                      Clarkstoragellc usually has a lot of info regarding getting started

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                      • #12
                        Hope you have better luck with your Civil Engineer than I did. Took 9 months to get preliminary site plan and Board of Supervisor/Zoning. Now it has been another 17 months and am no where closer to a site plan or permit to get started. Getting totally frustrated and not sure what to do next. Hire another Engineer and start all over? One time "Going with the well known local guy" may not have been a good idea.

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                        • #13
                          Welcome to the forum from The Garden State of New Jersey!

                          Don't put off until tomorrow, what you can do today.

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                          • #14
                            Originally posted by themikehyde View Post
                            Hope you have better luck with your Civil Engineer than I did. Took 9 months to get preliminary site plan and Board of Supervisor/Zoning. Now it has been another 17 months and am no where closer to a site plan or permit to get started. Getting totally frustrated and not sure what to do next. Hire another Engineer and start all over? One time "Going with the well known local guy" may not have been a good idea.
                            Wow that's crazy, that's why I'm leaning towards taking on an existing business with a existing building in place. I know it might be costly but it would likely lead to cash flow quicker. ( I think) Good luck with dealing with that bureaucracy!

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                            • #15
                              Hi Wilford,

                              Along with associations I can recommend some books for you:

                              *The Investor's Guide to Growing Wealth in Self Storage by AJ Osborne
                              *Creating Wealth through Self-Storage: The Everyman's Guide to Self-Storage Success by Mark Helm
                              *What Every Real Estate Investor Needs to Know About Cash Flow by Frank Gallinelli
                              *The Encyclopedia of Commercial Real Estate Advice by Terry Painter

                              (Keep in mind these are just books, no replacement for real life experience....)

                              Welcome to the forum!
                              Mike

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