Owning a storage facility has a lot of pros and cons. Hopefully this video will help you understand more of the behind the scenes of investing in storage facilities.
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@jpm32519 ай бұрын
Thanks for sharing! I recent purchased my first storage unit about 2 months ago. It's small 60 units, it was not getting the proper care by the previous owners. So it only had 4 tenants. Now with new management signs new name and marketing physical and online. We have 10 extra tenants in 2 months of operation. Loving the challenge.
@jackdfowler8 ай бұрын
Hello, I'm very interested in possibly investing in a few ventures. I'm in Georgia, so the possibility of working with someone remotely would be perfect. If interested in some type of business venture please let me know. Thanks
@hawsllc81878 ай бұрын
How much did it cost for you?
@RBZ06LT66 ай бұрын
Awesome and very encouraging!
@xeroranger5 ай бұрын
This is really encouraging! Please do provide us with your progress when you can. Congrats again🎉
@codygocam4 ай бұрын
So basically mega cash flow income and minimal headaches! I'm all in on this early retirement idea 🇺🇸
@thewobblywelder8362Күн бұрын
I’m looking to diversify my father’s business. This might be one way to make that happen! Thanks for the video!
@matthewtuxhorn9117 Жыл бұрын
Great video. We own several mobile home parks where we have built storage facilities within the properties. It adds additional revenue and gives the tenants space to store things so they are not around their homes. I am in the process of looking for my first stand alone storage facility.
@kylegrimm Жыл бұрын
I had a mobile home park that would have been perfect to put up storage on but I recently sold it. I’m second guessing selling all of my parks already.
@steppingstone8039 ай бұрын
Smart
@jackdfowler8 ай бұрын
Hello, I'm very interested in possibly investing in a few ventures. I'm in Georgia, so the possibility of working with someone remotely would be perfect. If interested in some type of business venture please let me know. Thanks
@mtmg36489 күн бұрын
My husband's parents have land they are sitting on outside of Raleigh. I am trying to pitch this idea to them to generate much needed $$. Makes sense to me.
@bettergoodhealth19 күн бұрын
Great video Kyle. Thanks
@QualeHouse7 ай бұрын
Great video! Thanks for the helpful info!
@minutemanprep8 ай бұрын
Are there any major reason not to use shipping containers for units? I own a piece of land in town and am looking at putting units on it and it seems way more affordable and then I can always sell them if I decide to sell the property and it can still be used for other things
@laprepper13 күн бұрын
that's a fascinating idea. Maybe weld them together to make theft more difficult? Welds can be easily ground if you need to sell them.
@fynix.5 сағат бұрын
did u end up doing it?
@joshmclanahan562819 күн бұрын
Thank you, purchasing something similar soon. Looking for 120+ units
@dd___dcАй бұрын
Do you ever have ppl living in the unit?if so do you let them? how do you go about it?
@sethdieker4461 Жыл бұрын
We drill our cylinder locks out with a hole saw and have the tenant pay us for the lock. We do have a full time person though.
@laprepper13 күн бұрын
Hi sir, a few questions. 1) How did you fund this purchase? Cash or are loans available? 2) Doesn't look like units have climate control (maybe I'm wrong) What are you thoughts on climate control? 3) Since you have no exterior fencing, are you ever worried about security issues? 4) Do you have extensive security cameras installed? 5) What do you think about buying units that you can't personally visit, like out of state? 6) Do you require tenants to have renters insurance and/or do you offer such insurance as an option? I'm really looking to get into this and have some funds saved up...
@justins19175 ай бұрын
What software do you use to rent the info?
@joevarga59828 ай бұрын
What if you want to see the unit before you rent it?
@rawyatt837 ай бұрын
Good video! Can you break down costs and pricing?
@AndyRodriguez-q4lАй бұрын
How do you get the software to manage the storage unit?
@mitchellwhitney839 Жыл бұрын
Great video. What software do you use to manage tenants?
@djwashx8 ай бұрын
Great info do you sell after a certain time 3 years 5 years
@Word4WordwithMichelle6 ай бұрын
love love your videos - i’m looking to dive into the storage business - I know timeshare sales - what do you think i should focus on first
@cremls9 ай бұрын
This is great, I've been looking and trying to connect with other investors on this. This is a beautiful property. I didn't see a sign on the highway... 🙂 What would be your recommended course or education system if you have one?
@Life_With_Rico17 күн бұрын
how did you come up with the capital to buy your first one. If someone this was going to be someone's first business venture, what advice would you give them to come up with capital?
@antonioselman4 ай бұрын
Thank you!
@megagerald7778 ай бұрын
It doesn't look very secure
@codypomeroy90405 ай бұрын
I hope he updates security soon.
@haroldgarling10634 ай бұрын
In a White town it will be fine
@Joeybeautiful_3 ай бұрын
@@haroldgarling1063😂🤦♂️
@mp-xt2rg2 ай бұрын
A little racist but also super true
@user2144Ай бұрын
Yep, first thing I thought when video started. In Australia, no storage facility would operate without a 6 foot high spiked aluminium fence around the entire perimeter.
@TemperrQuake3 ай бұрын
How much is reasonable to pay for a storage facility? I feel a lot of them are asking over what it should be.
@tristanmalone8601Ай бұрын
Once they are paid off they are a huge profit.
@mr.medina49679 ай бұрын
How do you value your facilities when buying one? Is there a formula you use?
@agraham9167 ай бұрын
Kyle - Thanks for the video and really appreciate the info. Im new to this investment. I have a few residentials but really want to get into self storage. I'm exploring a few markets and had some questions: (1) Minimum down payment required. I want the skin in the game, have good credit, and Im thinking about SBA. Whats the lowest down i could get away with? (2) What is your recommendation for finding off market properties. Loopnet seems like trash right now, lol. Everything appears over priced and nothing for the startup. Ever cold call from a county assessor info and not get hung up on, lol. (3) Financing first or target property first (if you are looking for opportunities to invest, did you need to find the target property BEFORE getting financing or can you secure financing options before your collateral is confirmed as a first time investor?)... any help would be welcome...
@Mr.nofiction9 ай бұрын
How much do they cost on average?
@joevarga59828 ай бұрын
How much does a car cost on average?
@Mr.nofiction8 ай бұрын
@@joevarga5982 average msrp for a common car $21-36k thanks for the sarcasm
@jeffbailey73288 ай бұрын
What did you tell the client with the bullet holes in the side of their unit? I'm assuming you need to get in there to fix it and I'm assuming you would want the client to know that their stuff might be damaged. Of course they have their own insurance but just wondering what you would say. For me as a client I probably would want to leave because I don't want my stuff being shot at again.
@mclome227 ай бұрын
😂
@jeffbailey73287 ай бұрын
@@mclome22 Why is this funny? I'm hear to learn the operation of a storage facility. If you guys just don't say anything and hope they never find out, then that's fine. What do you guys do. I don't understand why you people laugh at serious questions. Most likely mclome22 doesn't have a clue. Like wtf is the point of your comment?
@mclome227 ай бұрын
@@jeffbailey7328because of economic difficulties, criminals are drawn to rent storage units because its cheaper than having a home or apartment while they sleep at their baby momma’s apartment paying child support, those clients that are in economic difficulties cannot afford a house to put their belongings, that’s why they rent a storage and it’s those same poor people that resort to crimes and damages like that
@tristanmalone8601Ай бұрын
@@jeffbailey7328Yeah. You would want to notify the tenant to come look at the space and check for personal item damage and preferably let the manager look inside to see if there was further damage to other units. As far as fixing it. Maybe patch it so it isn't easy to look into. I've never encountered a bullet hole so idk.
@madrush243 ай бұрын
Those look so easy to rob with nobody around and no fence or gate. Yikes!
@joshmclanahan562819 күн бұрын
What’s the management software? Or is it a custom website? Thank you
@kylegrimm19 күн бұрын
I use easy storage solutions for my software
@reesewheeler510 Жыл бұрын
I have been wanting to get into a storage unit mainly because of the low overhead. How much did you buy the property for to begin with?
@joevarga59828 ай бұрын
What's the difference? Do you think they all cost the same?
@mtmg36489 күн бұрын
Can you give us a sense of annual revenue? Thank you.
@kylegrimm9 күн бұрын
@@mtmg3648 right now it’s doing around 110-115k gross a year. I’d subtract about 30% out of that for expenses not counting debt payments.
@user-dq5jm8xs7j4 ай бұрын
What software are you using for management?
@brentpommerening79499 ай бұрын
Do you have issues with non-renters taking open units and using them w/o paying with remote operations?
@wackerman72595 ай бұрын
The ones I've been to, they use company locks on them when not in use.
@jeffkung5088 Жыл бұрын
Do you think storage units are a better investment than campgrounds?
@kylegrimm Жыл бұрын
It’s hard to answer that because they are so different to operate. Campgrounds need 10x more attention to operate but can also be more lucrative. But let me put it this way.. I would prefer own a large portfolio of storage facilities than I would campgrounds because they are easier to operate and systematize.
@smillysbikes8 ай бұрын
My family runs our campground 6 months out of the year. Hardest part is start and end of the season, as we have to blow out our water lines for winter, and of course fill them in the spring. We do pizzas and ice cream as well, so you need the office occupied at all times. (As well as food licencing, etc). All that aside, keeping the property nice and affordable spaces is the average task each season, and it's relatively laid back as a business. My goal is to build storage units in the next 10 years somewhere
@bob1979nw Жыл бұрын
How much does the software cost to use to manage the facility?
@junipersnow18 ай бұрын
I heard 600-1500 for small set up... A guy with 2000 units sad it was more like $6000-$10000
@liddy.21Ай бұрын
What happens if someone just starts renting without checking in because they don't need a key to access lol
@fernando306110 ай бұрын
Is there insurance for people shooting your building?
@user-ss6xu4rb1f11 ай бұрын
what software do you use?
@kylegrimm11 ай бұрын
Easy storage solutions
@user-dq5jm8xs7j4 ай бұрын
What software do you use for management?
@rollingops Жыл бұрын
I didn't see any cons
@rollingops Жыл бұрын
Besides the guy that keeps shooting at it lol
@fernando306110 ай бұрын
replacing the bolts on top so water doesnt get it, changing the landscape so water doesn't get in under doors.
@fernando306110 ай бұрын
the Lock situation too.
@ontariodrone3799 ай бұрын
If he only knew a friend who was building a new storage unit on their property to point out the real cons to....need an investor btw? :D
@yolandalcheek462 Жыл бұрын
Storage containers into tiny homes 🤔 who is bold enough and rich enough to try it?