Activity
Mon
Wed
Fri
Sun
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
What is this?
Less
More
Memberships
Self Storage Success
Private • 34 • Free
Lux Points Academy
Public • 65 • Paid
StorageAce
Public • 60 • Free
4 contributions to StorageAce
20d ago in
What does an acceptable 'Worst Case Scenario' look like?
When running Worst/Expected/Best Case scenario projections during underwriting, the idea is to find a worst case scenario that we could live with. What does a worst case scenario we could live with look like? Link below to a deal I'm looking at. As is, I believe the business has a current value around $600k. I see a bank financed offer at $625k providing the returns I'm looking for. I ran a worst cases scenario to play out if I can't raise the rents as high as I'd like. The 5 Year Summary Table shows the result. What do we look for to know if it passes the "Can I live with it?" test. Notes: This is for a bank financed offer. I ran this analysis using an estimated flat 40% expenses. I didn't break it down line by line. So a lot of lines are blank. https://docs.google.com/spreadsheets/d/1nyRx8t7Gj-eM7GX7ORLTCnGgKL5Eeew4/edit?usp=sharing&ouid=118426573171122109797&rtpof=true&sd=true #underwriting #makingoffers
2
2
New comment 3d ago
0 likes • 3d
I know my reply is late, but just wanted to throw out there, I'm sure you're aware, that you also have to keep in mind the current market. I have found that Sparefoot and StorTrak are good references for what units are going for in your or any given market.
3d ago in
CRM Recommendations
Good afternoon StorageAce community. So I have heard over and over again about using a CRM in order to create deal flow/funnel. So I would like to hear some recommendations. Share what your using and which works best. Thanks in advance and remember, Let's get after it!!!
1
1
New comment 2d ago
0 likes • 3d
What you said in the video, is how I've been feeling. I have felt the last several weeks that I am just one move away from things changing. So thank you for this @Dave DeMink!!!!
Sep 26 in
If you are new to the Community, please introduce yourself :)
And then please share… What is the #1 question on your mind right now when it comes to self-storage that I can help you with?
5
11
New comment 21h ago
0 likes • 5d
Good afternoon everyone!!! My Self Storage journey was quite by accident. I was attending a multifamily conference in Denver and met a couple of guys who in were in the SS space. I ended up talking to them and came away with interest in SS. Fast forward a year later, I’ve invested in myself and now I’m wanting to take the next step, which is to take action. Looking forward to connecting, networking, and meeting others!!!!
0 likes • 3d
@Dave DeMink I enjoyed our conversation as well Dave and I'm looking forward to more of them in the future!!!
1-4 of 4
@william-ferretto-9257
I’m currently looking to become a Self Storage owner/operator. I have embarked on a 5 year plan with hopes to eventually leave my current W-2.
Active 1d ago
Joined Oct 31, 2024
Texas
powered by