How Much Money Does Self Storage Make?

Owning and operating a storage facility is no walk in the park. So there's got to be a reward, right? What can YOU make by buying a storage facility?

In this video, we talk about one of our deals, and show you the numbers: what EXACTLY do we make? What does it cost to renovate or maintain self storage? And what is our strategy to remain profitable, even with large capital expenditures?

00:00 The Storage Facility
00:37 What makes this one different
02:08 What needed fixing?
04:45 We overpaid :(
05:51 What it took to make it profitable
11:49 Why we paid the high price
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[gregs]

The best self-storage channel on YouTube by far. Can't believe you don't have a million+ subscribers. Please keep the content coming!

[jayxhughes]

You can kill as many birds as you want 😂

Another good video man. Keep it up! I appreciate how positive you are. Makes me step back and look at the bigger picture, slow and steady wins the race.
Everyday is hard to go to work when you hate it. Hope to make this full time or at least get me enough revenue I can do something else but punch a clock at a spot I hate.

[Erati]

Make up your mind please! at the beginning you said you paid 2.5m cause you felt it was a great deal. 5 minutes later you say you felt 2.5m was too much... which is it?

[tc]

Do you help others with pre- buy (due diligence) for the buyer including turn around if acquired

[NavyBlue]

Someone really sold this to you at a 10% cap rate ($250k NOI / $2.5mm PP) WITH lots of potential upside on top of that? Those opportunities don’t exist anywhere in my markets.

[anthonywood]

Have anyone trying to live in your units? That’s been a serious problem at some urban locations.

[watbri]

do you go in and see if they have like protection plans or tenant insurance required as part of where you can add to revenue?

[victoriahartcorn]

Hey man! Thanks for all of this info. I'm actually going to your event this Monday (May 6th) in Denver. I can't wait! I've got a quick questions, I don't now much about self storage and I'm just trying to soak it all in like a sponge. What do you personally see about the self storage real estate in Colorado? You are awesome!

[BruceMcKeever]

I really wish this was about a storage unit complex your average man could purchase. If I had $2 million dollars I would retire not buy a storage unit lol

[whistlingrock]

Unless you already have millions you can’t buy this product! Stop slinging your bull