Self Storage Units | CashFlowInstitute.com

Profiting From Self Storage Units

Monday, August 23rd, 2010 Mark Walters No Comments »

One strategy that some developers and investors are beginning to consider during this Recession is investing in Class C Self Storage Lockers, as they are called in some areas or simply Class C Self Storage Facilities.

Class C Self Storage Facilities are generally defined as older properties in need of repair or updating, often first generation, single-level sites that may be unfenced, and they typically lack in security features and amenities commonly found in Class B or Class A Properties.

They may also possess a less desirable unit max and orientation with regard to door operation, upper levels, and lack of temperature control. They may also suffer from having poor access and limited visibility and subsequently, rental rates are lower than Class A or Class B Properties.

Which leads us to the question of how to go about finding these diamonds in the rough? For This blog Post – We’ll just focus on my favorite way – which is to buy a comprehensive listing of all Self Storage Lockers in a given market by purchasing directly from the numerous list brokers who have the names and addresses of all the facilities in a geographic area and then contact the owners directly with a mailing campaign, or just by cold calling the facilities in person or by phone after “Googling” all the facilities in your targeted market(s) for acquisition.

The laws for success in the self storage industry are always changing and buying Class C Self Storage Facilities or investing in Class C Self Storage Lockers has quickly become a very viable addition to a successful investing strategy – especially in this time where development has slowed to a crawl.

The merits of this strategy have proven to be very profitable to many operators who have chosen this path rather than focusing solely on development. And being one of those investors myself, I couldn’t agree more.

This article was written by Self Storage expert Scott Meyers.
Click Here for ways to profit from self storage units.