Analyze Self Storage Markets (Step by Step Guide)

Finding and analyzing self storage markets is one of the most important steps when acquiring a self storage facility. You need to know what the market is doing, how much supply/demand there is, and how it affects you.
In this video we go over the 3 primary steps to properly analyze a market
1. The Market: what's happening in that specific area that you might be considering? What do you look for?
2. The Industry: what is already existing in that area? How many units are there? How do they affect you?
3. Utilization: how are customers using self storage in that market? How does this affect your unit mix and pricing?
The tool we are using to analyze our markets is called Radius+. It's very similar to Yardi and other real estate data hubs. Find out more about Radius:
www.radiusplus.com
If this video helped shed some light on market analysis, hit the like button so we know to keep producing content like this!
We focused on analyzing specific aspects of the Reno, NV area. But how do you determine what kind of market to even look for? We made a full video about this:
• How to Find & Analyze ...
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CHAPTERS
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0:00 It's not about being lucky
0:23 The 3 Critical Steps
1:02 What we use
1:53 Step 1
3:47 Step 2
6:24 Step 3
12:00 Deal or No Deal?
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