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Scott Meyers Articles

Written by: Scott Meyers

Self Storage: Second Class Investment? Not Anymore! - Click To Read Article
Investments are investments, especially in real estate. The rules haven’t changed and the name of the game is still “Return.” Then, perhaps, it should not be so surprising that a niche in the broad spectrum of real estate investing that was once considered to be an alternative, is fast becoming the new trend-setter.

The Benefits of Fusion Marketing Your Self Storage Facility with Other Local Businesses - Click To Read Article
Fusion marketing is the act of cross promoting other local businesses who will in turn promote your own. This type of marketing can have real success for businesses, especially when their products or services overlap or they are in the same immediate area.

Self Storage Investing Webinars Can Hold Valuable Tips - Click To Read Article
Self storage investing can be a difficult industry to get into. As with any real estate investing, it can be overwhelming at first to even begin to learn about all the rules, laws, and regulations that come with owning a self storage property. However, there are several great resources online that can help individuals learn about buying their first self storage property. Besides e-books and white papers about self storage investing, there are also webinars that can be great resources.

Self Storage Feasibility Studies - Click To Read Article
So you’ve decided to get into the self-storage business by developing your own Self Storage Facility. Well the first step should be to locate a viable parcel of ground to develop. However, many investors find that determining an adequate site is a little more difficult than they imagined, and perhaps, should be done with the aid of an independent third party. Why? Because a feasibility study, conducted by a professional, will provide an in-depth analysis of the location to determine if it is viable for Self-Storage.

Building a Self Storage Facility - Click To Read Article
All Across the United States, entrepreneurs are talking about the self storage business. The word is out that investing in the mini storage business can be very profitable. And it’s not just the experienced investors that have their eye on the Self Storage Business prize. With lower building and management costs than virtually all other real estate investments and a failure rate of around 7 percent, the self storage industry is drawing first-time business owners and investors alike.

Commercial real estate lenders optimistic in 2010 - Click To Read Article
Commercial real estate lenders talked about the coming year and reflect on the past year at the annual Mortgage Bankers Association Convention in Las Vegas. Most conversations about 2009 were brief, and not very uplifting, but the outlook for 2010 was extremely optimistic. Money from Wall Street to Main Street is piling up and poised for investment.

Investment Opportunities in Self Storage - Click To Read Article
Like all other real estate investments, self storage shares the same attractive qualities as residential rentals, apartments, retail strip centers, office buildings, and industrial properties. Those include leverage (borrowed money), tax advantages, passive income, personal control (being your own boss), and appreciation. However, self storage offers a number of benefits that make it such an attractive investment.

My Five Principles to Success in Self Storage (or any business!) - Click To Read Article
The central focus of my company is to arm the self-storage investor with the specific tools necessary to identify potential acquisition candidates, to acquire and manage those facilities once they have identified them, to implement sound techniques for creating value, and finally, to capture all of that value through various exit strategies. The process by which all of this can be accomplished rests on five keys that I feel are crucial to success. These keys do not deal with the mechanical processes involved in buying and selling self storage facilities, but are grounded in principles that are fundamental to life itself. These laws deal with the human psyche and govern our thoughts, which in turn, direct our actions. The failure to understand these keys, which have proven to provide the foundation for success, continually result in ma

How to Reduce Your Self Storage Customer Acquisition Costs - Click To Read Article
Think about the cost of acquiring this customer. What if it could cost less? What if it could lower your cost of acquisition by 20%? Think about how much money you spend on advertising. Yellow pages, magazines, newspapers, web, etc. Do you know the bottom line that each one of your mediums is bringing you? Do you know which is performing the best?

Buying an existing self-storage facility - Click To Read Article
Learn the basics of to understanding the step-by-step process for making informed decisions when looking into purchasing an existing self-storage facility.

Tenant Insurance Makes Everyone a Winner in Self-Storage Facilities - Click To Read Article
Most homeowners or apartment renters insure the possessions in their dwelling from theft or damage – but many don’t think that far when it comes to self-storage space. As a self-storage facility owner, you have a responsibility – and an opportunity – when it comes to making sure your customer’s possessions are protected.

Go Green With Your Self-Storage! - Click To Read Article
One big benefit from implanting a little “green” into your self-storage operation – saving money! Going green can cut your energy bills and supply costs and, what the hey, if you help the environment out along the way, that’s not such a bad thing, right?

Looming Commercial Real Estate Crisis offers Huge Opportunities in Self Storage. - Click To Read Article
With the looming commercial real estate crisis due to distressed debt investors, self storage facilities and other properties that can be converted over to climate controlled self storage are going to be a hot investment in the coming years.

Commercial Real Estate Forecast: 2010 Stable - Bargain Hunters poised to take Advantage - Click To Read Article
The commercial real estate industry faces a dismal forecast for the next 5 years. Nationally, 2010 looks like an unavoidable tsunami of foreclosures and short sales for a multitude of borrowers, investors, and lenders – are the reports from the mainstream media. These less than positive predictions and negative economic conditions could create the opportunity of a lifetime for investors this year and next. The values of commercial real estate are at all-time cyclical lows, presenting one of the best acquisition environments this country has ever seen.

The Self Storage Investor’s Dilemma: TO BUY OR TO BUILD? - Click To Read Article
When deciding to enter into the self storage market, you have to decide if you want to buy an existing property or to build your own. This article discusses the pros and cons of each decision.

Creating Your Marketing Plan for 2010 for your Self-Storage Facility - Click To Read Article
Have things changed in today’s economy? Some say yes, some say no. I, for one, believe that marketing is one of the most critical aspects that will determine your success or failure in this business, or any business, no matter what the economic climate may be. Furthermore, it never ceases to amaze me that when occupancy is low, and traffic is down, some companies decide to actually decrease their marketing efforts; the very thing that brings customers in the door! With that in mind, I encourage you, no matter what your occupancy, or the current economic climate looks like, to set aside a budget of roughly 6-8% of your gross projected annual rental revenue for marketing and advertising to build your marketing plan around.

Self Serve Kiosks - Click To Read Article
To compete in today’s economic environment, many self-storage operators are turning to technology to lure customers to their facilities and provide superior service once they sign on the dotted line. Industry studies show the increasing usage of technology in facilities of all ages. Self-storage operators are employing the Internet for marketing, rental payments and online reservations. Facilities are benefiting from computer-management software, surveillance cameras accessible over the Internet, and digital video recorders.

Opportunities in Records Storage - Click To Read Article
Records storage and management is becoming a very popular ancillary service in the Self Storage Business. Many operators are discovering the benefit to their existing business of adding Records Management. Although not a new concept, it is growing in popularity as our industry looks to draw a broader customer base and generate additional revenue streams, thereby, lowering overall risk.

Recession Proof Real Estate - Click To Read Article
They’re often called recession-proof – steady investments that are inexpensive and easy to maintain with consistent profit margins. Not to mention, they’re one area of real estate that seems mostly unaffected, if not helped, by current rough market conditions. They’re storage units and people always need them. And all across the country, with a growing population that provides a constant supply of people in transit and in need of storage, they’re shooting up everywhere. Storage facilities require relatively low building and management costs.

Myths and Investment Opportunities in Self Storage - Click To Read Article
Like all other real estate investments, self storage shares the same attractive qualities as residential rentals, apartments, retail strip centers, office buildings, and industrial properties. Those include leverage (borrowed money), tax advantages, passive income, personal control (being your own boss), and appreciation. However, self storage offers a number of benefits that make it such an attractive investment

Financing Your Self Storage Facility - Click To Read Article
Most types of investments won’t allow the use of high leverage using the securities themselves as collateral. This makes real estate investing somewhat unique in its use of financing. The use of leverage in real estate investments is a proven method to accelerate returns and create wealth. But one must be careful not to over-leverage. As we examine a few of the various types and sources of financing available for self storage facilities, I will also point out the dangers that can result from over-leverage and pitfalls of various financing structures.

How to Create a Self Storage Business Plan - Click To Read Article
Now for many people, the thought of creating a business plan is akin to the fear of public speaking. However, it does not have to be such an unpleasant task, especially since we already have the information. Our personal financial statement, the project due diligence and the market analysis comprise just about all of the information needed. All we need to do is to organize this information into a coherent document. Our business plan is an opportunity to present ourselves and the deal in the best possible light. It is designed to give the lender an in-depth look at yourself as a borrower including your past successes, the reasons why this project is so strong, and the reasons it will succeed in this market. This will all be supported by facts from your research and due diligence.

Introduction to Self Storage Development - Click To Read Article
Self storage has seen some dramatic changes over the last few decades it has been in existence, especially in the last 15 years. In 1993, there were approximately 21,300 self storage facilities in the United States. Today, that number has more than doubled, with industry experts reporting roughly 60,000 facilities. Those facilities comprise more than 1.7 billion rentable square feet of storage space.

Introduction to Self Storage - Click To Read Article
Self Storage Association Definition: Self Storage facilities are real property designed and used for the purpose of renting or leasing individual storage spaces to tenants who are to have access to such space for the purpose of storing and removing personal property. They offer rental on a month-to-month basis of individual spaces where customers provide their own lock and have sole access to their space. Today’s typical storage facility may comprise several one or two-story buildings on two to 6 acres of land, or a multiple-story building, containing a carefully designed unit mix of spaces. The units typically range in size from 5X5 to 10X30 feet with 30,000 to 120,000 total rentable square feet of space.

The Future of Self Storage - Click To Read Article
As we look to the future of self storage, it’s very clear that the future looks bright. There are a few trends afoot backed by solid industry data that justify positive outlook on this high growth industry.





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