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Now is one of the very very best times to buy an existing self storage?

By Marc Goodin


Why?


The answer is simple.  Many offline facilities can be bought at almost half price!  They are selling at reduced prices for four main reasons:


1)   Fewer buyers due to the general gloom and doom feeling.

2)   Interest rates are at all-time highs.

3)   Many owners are older and are ready to  retire and get out of the business (especially given items 1 & 2 and they need to refi soon)

4)  Fewer people are moving.  People moving make up 40% +_ of self-storage renters.


Here is one possible sample of the Past vs Now comparison

                                                                                          Past                                                             Now

Net Operating Income (NOI)                   $300,000                                                $290,000

Cap rate                                                                    4                                                                     7                                

Purchase price                                                    $7,500,000                                   $4,200,000

 

That is a savings of $3,300,000.  And eventually, things will return to normal bringing the value back up and even higher with the Storage Authority Sales and Marketing platform.

Finding existing facilities offline does take significant work. And while the profits are typically less the profits start much sooner. 



We have developed a proven process to find land and existing facilities offline for great discounts. Our land offer caculator allows you to make an offer on the spot which can triple your results.


If you would like to have a zoom conference to learn more let me know.


Marc Goodin is the foounder of Storage Authority. www.StorageAuthorityFranchise.com  The only self-storage franchise. He owns 3 self-storages he designed, built, and manages. He has been helping others in the self-storage industry for over 30 years.  He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answer your franchising, development, marketing, sales, and operations questions.  His best-selling self-storage books are available on Amazon.



 

 

 

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