I have a little over 3 acres under contract in glen burnie MD. Adjacent to this parcel is an apartment complex being developed. I think it would be the perfect location for a storage facility.
Thanks for another great video. Is there a general rule of thumb when it comes to value of an existing facility? CAP rates are so variable and I'm not sure how well they are validated in certain markets . Is there a multiple of income that you can use? I figure 30-40% of income will be expenses? I live in a small rural market and I'm looking to purchase an existing facility in my surrounding area to get started with. I could base it on my rate of return, but I'm hoping you can provide some guidance. Thanks again I appreciate all the great content.
Value is a tough one to pin down, and probably gets into an area where you should discuss with a feasibility consultant or real estate professional. That said the other way I (this is Steve H, marketing Manager and owner of three properties) look it very closely is to evaluate current cash flow, and what cash flow should be after I purchase a property, improve it, and raise rents. Things have changed a little since this video was made and it's a big sellers market. Going in with cash is a huge advantage. Bank financing will slow you down so much that you will probably lose out on many existing properties for sale.
@@Trachtedotcom Thank you. I'm trying to get more comfortable with deal analysis . I'm looking at off market deals in a fairly rural area. How expensive is software and getting a website that makes it possible to rent online? Say a 300ish unit facility? Thanks again!
@@adamholbrook2281 At 300 units you should get software. The money and time that it saves you makes in a simple decision. Cost will vary - some vendors price it based on how many units you have. We have contact info for a number of vendors here: www.trachte.com/resources/industry-specialists/#management-software-technology-access-control
@@Trachtedotcom Thank you very much. I really appreciate all the help. Looking fwd to working with your team when I get to the point I'm ready to expand.
Thank you Jamie. I'm loving the instruction you're providing.
Fantastic podcast. Thank you!
Excellent presentation, thank you Jamie.
I have a little over 3 acres under contract in glen burnie MD. Adjacent to this parcel is an apartment complex being developed. I think it would be the perfect location for a storage facility.
Growing areas are great, and multifamily creates demand for storage because there just never seems to be enough storage in apartments.
Great info 👍
Thanks for another great video. Is there a general rule of thumb when it comes to value of an existing facility? CAP rates are so variable and I'm not sure how well they are validated in certain markets . Is there a multiple of income that you can use? I figure 30-40% of income will be expenses? I live in a small rural market and I'm looking to purchase an existing facility in my surrounding area to get started with. I could base it on my rate of return, but I'm hoping you can provide some guidance. Thanks again I appreciate all the great content.
Value is a tough one to pin down, and probably gets into an area where you should discuss with a feasibility consultant or real estate professional. That said the other way I (this is Steve H, marketing Manager and owner of three properties) look it very closely is to evaluate current cash flow, and what cash flow should be after I purchase a property, improve it, and raise rents. Things have changed a little since this video was made and it's a big sellers market. Going in with cash is a huge advantage. Bank financing will slow you down so much that you will probably lose out on many existing properties for sale.
@@Trachtedotcom Thank you. I'm trying to get more comfortable with deal analysis . I'm looking at off market deals in a fairly rural area. How expensive is software and getting a website that makes it possible to rent online? Say a 300ish unit facility? Thanks again!
@@adamholbrook2281 At 300 units you should get software. The money and time that it saves you makes in a simple decision. Cost will vary - some vendors price it based on how many units you have.
We have contact info for a number of vendors here: www.trachte.com/resources/industry-specialists/#management-software-technology-access-control
@@Trachtedotcom Thank you very much. I really appreciate all the help. Looking fwd to working with your team when I get to the point I'm ready to expand.
Thank you Jamie!