Announcement

Collapse
No announcement yet.

User Profile

Collapse

Profile Sidebar

Collapse
Avatar
tonaselfstore
Member
Last Activity: Today, 06:50 AM
Joined: 20th August 2019
Location:
  •  
  • Filter
  • Time
  • Show
  • Source
Clear All
new posts

  • tonaselfstore
    replied to Advice on Specials
    I had someone move in last week. We were slightly more expensive and not nearly as nice as the competition. The determining factor was that the other guys locked in the cheaper rent for a couple months and then it doubled! They were turned off by the "special" and went with us.

    ...
    See more | Go to post

    Leave a comment:


  • Nick,

    I did a complete Income / Operating statement taking into account all of the expenses that I was given (including those you mentioned and more) and came up with that $5k leftover per month. My guess is that my offer of $750k will be about half of what they will have it listed at.......
    See more | Go to post

    Leave a comment:


  • tonaselfstore
    replied to Grand Opening
    I'm curious about the conference room... I have a former home located onsite that has fallen into disrepair. There is a large room that would be perfect as a conference room as well as smaller rooms that would work for offices.

    How do you plan on using the conference room? How will it generate...
    See more | Go to post

    Leave a comment:


  • OK, so I was doing some loopnet searches and came across a property (I won't say what it is to protect the innocent) that has a crazy sale price that I can't figure out how to justify....


    This complex is in a very rural area over 75 miles from the closest small city. It only has...
    See more | Go to post

    Leave a comment:


  • Ron,

    Good points. it is a little bit of an older facility having been built in the mid-90's. I have gone through their maintenance records and it appears that they replace 4-5 springs on doors per year at around $200 a pop. Their in one pretty large flat roof that must be 20 years old and...
    See more | Go to post

    Leave a comment:


  • Sale price vs debt service

    All:

    I've been in the management side of self storage for a couple of years after running a good size retail company (50 employees). I recently was sought out by a real estate friend as a potential buyer for a storage facility not too far away. The facility has around 250 units, is just...
    See more | Go to post

  • tonaselfstore
    replied to Extra sources of revenue
    I keep getting ads on Facebook for becoming a "Wish Local" store. Anyone tried it?

    It seems like it would be a good fit for our business model since we don't have a ton of foot traffic yet have room for storage. The general idea is that people can order from the app and pick up...
    See more | Go to post
    Last edited by tonaselfstore; 13th January 2020, 12:00 PM.

    Leave a comment:


  • tonaselfstore
    replied to Cameras
    No power means no wifi, right? I have seen "solar generators" which are basically big battery packs that wire directly into solar panels to recharge. This could easily provide enough power to get a hotspot going and then you could use battery operated wifi cameras (like Blink) to get images...
    See more | Go to post

    Leave a comment:


  • tonaselfstore
    replied to Newbie asking for some advice
    That's a big ask.... There are literally books written on the subject!

    My quick reply is that there is no quick and easy answer. Purchasing an existing has advantages and disadvantages as does building new. There are so many variables, not the least of which is your capital outlay.
    ...
    See more | Go to post

    Leave a comment:


  • We used to cut off locks at the 45 day mark but we had to deal with the challenge of people being even more upset about losing their $20 lock. By pushing it back, it costs us nothing as far as time but gives them every possible chance to pay up before we cut their lock and auction their stuff
    ...
    See more | Go to post

    Leave a comment:


  • "Auction Letter" vs "Cancel Lease" letter

    So this is something that came up recently and I am having our legal department look into it but i was curious about your opinions...

    Our current policy to reach out to late customers via email, text and phone. Once they miss their second payment (around 45 days) I send a form letter reminding...
    See more | Go to post

  • I like that you reward existing tenants by increasing their rent to $5 less than the current rates.

    We do something similar... I leave current tenants one increase behind. This means that when we raised rates on new tenants 1/1, any current tenant that was not paying the rate on 12/31 got...
    See more | Go to post

    Leave a comment:

No activity results to display
Show More
Working...
X