In days of yore, when children grew up they lived next door to their parents and grandparents. Or, they lived just around the corner so all generations lived in close proximity.
Gone are those days. Children live in different states than their parents – and sometimes even in different countries. Today’s society is mobile and people often need a temporary place to store personal items during their moving process.
Even though we are a mobile society, Americans keep acquiring ‘stuff.’ They have more TVs, furniture, clothes, and toys (RVs, boats, four-wheelers, snowmobiles, jet skis) than their parents and grandparents ever possessed. In a way, we are victims of our own success. And because of all of that stuff, one family in ten in America uses a storage facility.
Because of this demand for storage facilities, self storage Real Estate Investment Trusts (REITS) have continued to grow and be profitable even during the recent recession. In fact, the top three publicly traded American self storage companies (Public Storage, Extra Space and Sovran) were up between 30% and 140% since August 2007. Those are pretty amazing statistics.
An astute self storage businessperson keeps his eyes open for self storage facilities that are for sale on the market. What if you are interested in adding to your self storage portfolio? And, if you see a facility that you want to buy, how do you make sure that you are getting a good deal?
Self Storage Profits, Inc. a leading provider of self storage education and investment services, will host a live webinar on Thursday, August 30 at 9:00 p.m. EDT and provide training for those looking at buying self storage facilities. Scott Meyers will lead the webinar.
Attendees will learn how to evaluate facilities to determine the estimated value and approximate acquisition price. Meyers will provide a brief introduction to market analysis. He will also share the following strategies and tactics for prospective investors:
- The “must have” income and expense figures
- The 3 most important market factors
- A simple process to take the guesswork out of valuation
- How to capitalize on undervalued facilities in this market
Scott Meyers, is the president and owner of Indianapolis-based Alcatraz Storage™. He specializes in buying and developing self-storage facilities and has been a real estate investor since 1993.
To register for the free webinar, visit: www.selfstorageanalysis.com/webinar. Attendees will also get a free copy of Self Storage Profit Inc.’s report entitled “The 12 most costly mistakes investors make and how to avoid them.”
“Self Storage Profits, Inc. Hosts Free Webinar: How to Analyze a Self Storage Facility.” PR.com; 28 August 2012.
“The golden hoard.” The Economist; 18 August 2012.