Category Archives: RV/Boat Storage

Forget New Year’s Resolutions!

 

Introduction…Every year Americans fail to keep their New Year’s Resolutions.

But, somehow we think if we just try harder, this year will be different.

There are scientific and spiritual reasons why we should “Forget New Year’s Resolutions and Instead Prepare Our Minds For Success.”

Click here to watch this powerful 5-minute video.

Click to get 9 Little Known Secrets For Steady Real Estate Income…Free

Happy New Year to you and your family!

Bill Moist, Self-storage buyer and developer

bill@billmoist.net

Click here to see this powerful 5-minute video

Self-Storage Online Auction Bill Passes

 Issue 68- Online Auction Bill Passes

Introduction…Governor Greg Abbot signed Senate Bill 952 into law May 28, 2017.  Self-storage online auctions rules are now clarified. The Texas Self-Storage Association (TSSA) promoted this bill so that online auctions could be codified into Texas Property Statute so there is no question they are allowed.

What this means to self-storage owners…Many TSSA owners have already been using online auctions to sell abandoned property.  But, this legislation clarifies that online auction is a public auction that satisfies the statute.

Many TSSA members have reported that online auctions offers easier processes, and in many cases higher bids, as the pool of bidders expands.

Many of the same members told TSSA they’d rather spend time on normal business activity of renting and maintaining units and collecting rents than holding in-person auctions at the facility.

In summary…Most self-storage owners and managers will tell you they would much rather collect rent than auction tenants property.  However, the advantage of self-storage over any other kind of property rental, is if we don’t get paid, we can sell the units content to pay back rent and fees.

For those who love collectibles and antiques, the TSSA has a listing of upcoming online auctions where  you can participate.  Here’s the link www.txssa.org/auctions.

To “Get 9 Little Known Secrets For Steady Real Estate Income-FREE. click here.

Announcing Increased Cash Flow For Storage Investors

 Issue 67 – Increased Storage Cash Flow

Introduction…This is an exciting time to be a self-storage owner or investor.  We have multiple ways to decreasing operating costs and increasing positive user experience.

Here are current items that improve cash flow for owners or investors:

  • Online payment processing
  • Online unit availability and lease execution
  • Smartphone online leasing
  • Gate access with smartphone
  • Unmanned properties with Advanced Kiosk
  • Enhanced data track-ability and analytics
  • Paperless operations reduce management expenses and provide improved search ability
  • Improved customer experience by providing information access as they want it with websites, software, gate access, payment processing, and facility marketing.

In summary…Much of the above technology improvements to customer experience are so affordable.  The labor saving and speed to lease or collect payments greatly exceeds its cost.  This is an exciting time to be owners and investors in self storage properties.  To request more information, email bill@billmoist.net

Where Can You Store Your Boat & RV?

Issue 64 – Boat & RV Storage..Where?

Introduction…In the United States 11,870,000 recreational boating vessels need storage.  Add to that number 8.900,000 recreation vehicles need storage. That totals 20,770,000 recreational items that need to be stored for the off-season.

RV And Boat Sales Growing Self-Storage Demand…RV The research, conducted by Dr. Richard Curtin, RV industry analyst and director of consumer surveys at the University of Michigan, reveals the number of RV-owning households has grown to a new peak of 8.9 million households, up from 7.9 million in 2005. According to the report, 8.5% of U.S. households now own RVs, up from 8.0% in 2005.  Annual U.S. recreational boat sales have averaged 550,000 per year since 1990.

So, where do the 20,770,000  households store their recreational vehicles and boats?  Most of the larger motorhomes, larger travel trailers, and boats can’t be stored in city residential areas.

The self-storage industry has recognized and met this demand.  Many properties have built larger storage units to accommodate the largest motor-coach.

What’s next..Currently, we are finalizing the purchase of a 60,000 square foot boat storage facility.  It seems adding recreational vehicles storage to our partners’ portfolios would be a logical path to take.

The Hottest Way To Invest In a 6,000 Year Old Industry

Boat & RV Storage

Introduction...In our last issue of the Self-StorageInsider.com, we discovered the first self-storage facilities were probably in China. About 6,000 years ago, the Chinese would often store their possessions in clay pots in public underground storage pits. These pits were monitored, to make sure that nobody could remove any pot or its contents except for their own.

What drives today’s industry…You’ve run out of room to stash that old cherrywood table, your high school sports trophies, Grandma’s wedding dress and those bulging boxes of tax records. What to do? Rent a 10-by-15-foot storage unit, for about $100 per month, and stick all the excess stuff in there. Even if your home doesn’t come with an attic, you have one now.

And where can you store your boat and RV.  Most residential neighborhoods don’t allow you to store them in front or behind the house.  The demand is so strong for boat and RV storage, that you are wise find storage before you buy that boat or RV.  Prices for these storage units run $200 to $500 per month.

As commercial property goes, self-storage has none of the sex appeal of a gleaming office building or a ritzy shopping mall. There are more than 50,000 self-storage facilities in the U.S. — nondescript warehouses filled with cubicles where Americans keep the belongings that don’t fit into their homes. But even though self-storage is about as unassuming an industry as you can get, it turns out to be a pretty solid investment — often better than other kinds of real estate.

For several years, the wealthy’s favorite kind of real estate investment was the apartment property. But in the last several months, they’ve shifted to self-storage, a property type that seems a little humdrum.

Why? It is recession-resistant. There are other interesting factors that I’ll explain. But first, here’s some good news. Though some of the most exciting types of self-storage investments are restricted to only the wealthiest investors, anybody can get in on this trend. Ordinary investors can participate in the self-storage real estate market.

And even very wealthy investors can learn a lot about the sector by studying self-storage REITs and taking a cue from Forbes 400 member B. Wayne Hughes, who built his $2.4 billion fortune on self-storage. Mr. Hughes founded Public Storage in 1972 which is now the largest self-storage REIT with 2,200 locations in U.S. and Europe, totaling 142 million square feet of rentable space.

In conclusion…Does self-storage intrigue you?  Drop me a note at bill@billmoist.net and we can discuss in private.

Gates & Buffet Have Hope For Trump’s America

Introduction…We’ve been hearing the media and some Democrats tell us why we should oppose President Donald J. Trump after his election. We hear news of protest (civil unrest) as if they are the majority.  In contrast, we saw the middle class non-college graduate come out to support Trump in mass.  They know when the balance their budgets each month that their income is declining.  Nationwide, the median income of U.S. households in 2014 stood at 8% less than 1999.

And on the top end of wealth scale, the world’s two richest people Bill Gates and Warren Buffet,t stated their opinions on this the future of America.  On Friday they expressed optimism that the United States will move ahead as a nation, even as it works through political differences and gets used to the new Trump administration.

Gates and Buffet were speaking to students at Columbia University after  President Donald J. Trump started to unwind the work of his predecessor Barack Obama in a series of executive orders, prompting concern from critics over what the actions mean for Americans and their place in the world.

“I am confident that America will move ahead,” Buffett said.

Gates, meanwhile, said the desire for innovation and support for research are “strong” and “largely bipartisan,” despite differences on how to accomplish and fund both.

“This administration is new enough; we don’t know how its budget priorities are going to come out,” but there is much intensity to ensure that the executive branch and Congress encourage “amazing things,” Gates said.

In conclusion…I see lots of optimism concerning America’s future from entrepreneurs who have money to invest in their own companies and real estate.  I have more money interested in our self-storage projects in the last two weeks, than I’ve seen for the last two years.

Sources: Jonathan Stempet, “Buffett, Gates have hope for America after Trump ascension,” Reuters, 27 Jan 2017; “America’s Shrinking Middle Class,” PewResearchCenter, 11May 2106

What Baby Boomers Retiring In Droves Means For Investors

Introduction…More and more baby boomers begin the new year with nothing on their schedule but plans to golf, travel, and spend more time with the grandkids.

The number of Americans aged 65 or older without a disability that aren’t in the labor force rose by 800,000 in the fourth quarter of 2016, marking the resumption of a long-standing trend: the exodus of their generation from the work force and into retirement.

Whether a larger share of senior citizens had previously been incented to remain in their jobs by higher wages or by a need to keep working in order to rebuild their nest eggs after the financial crisis is still an open question. But the recent non-farm payroll reports affirm that the secular trend of rising retirements can only be delayed for so long.

“The RV (recreational vehicle) has replaced the rocking chair, and the whole notion of retirement has changed in the last 10 years,” says Ken Budd, executive editor of AARP magazine .

There are two drivers, according to journalist Samantha Dunn, who’s written about RV retirees for the website Next Avenue. First, wireless technology means you can easily stay in touch with friends and family even while living on the road.

Then there’s the financial angle. Today’s retirees have long life expectancies. Living on the road for a year or five can be a way to spend less than hanging on to the big house or moving into a service-heavy retirement community.

“Even if you buy the $100,000 RV rig, it’s cheaper than dealing with an oversized house and taxes and all the things home ownership entails,” Dunn says.

Maybe the rising number of Americans retiring and the increased in RVs and boats has contributed to our newest property acquisition being 95% leased for the last 3 years and the closest competitor to be 100% leased.

We love RV and boat storage for several great reasons:

  1. These renters tend to be long term renters, at least until the sell their RB or boat
  2. These renters pay their rent on time as no one would let a RV or boat be auctioned off to pay a few months storage rental
  3. These renters are easy to manage as they appreciate a secure storage for their prized RV or boat
  4. These affluent renters rarely visit their storage units

Click here to watch the video What Baby Boomers Retiring In Droves Means To Investors.

Conclusion…Providing needed services and products to the Baby Boomers as they age, has always been very profitable for the providers.  We see the next wave in providing storage for their new RVs and boats acquired as they retire.

It Only Just Appears Not To Be The Most Exciting

 Introduction…Renting rooms with no lights, toilets, showers, or kitchens appears not to be the most exciting. But, when you look at the dynamics of the Self-Storage industry’s growth today, it may be the most exciting of all the real estate market segments.
I attended a networking group in Colleyville, Texas hosted by a real estate broker. She recommended that if you were planning on selling your house in the near future and needed to put extra stuff in storage, then you better lease the storage unit right away because it might not be available when the you need it.

Here are just a few headlines from today’s Inside Self-Storage news: Metro Storage To Build New Self-Storage Facility in Wood Ridge, NJ

  • Metro Storage To Build New Self-Storage Facility in Wood Ridge, NJ
  • Firehouse Self Storage Development Moves Forward In Longmont, CO
  • Self-Storage Expands in Plano, TX
  • StorageVault Acquires 3 Self-Storage Facilities In Canada for $6.7M
  • Lexington Road Self-Storage Planned for Former Piggly Wiggly Site in Athens, GA
  • UHaul Transforms Abandoned Dairy to Self-Storage in Sioux Falls, SD

Why all the excitement in Self-Storage today?  Most facilities are nearly 100% leased with increasing rental rates and when new properties are opened, lease-up is at all time record speed.

The demand for new Self-Storage is so strong, that it is driving developers to look for existing commercial or industrial buildings to convert.

Click here to watch the above video.

In conclusion…One of my personal reasons why Self-Storage is so exciting is that it may be the easiest of all types of real estate to manage and lease. This is a quality of life choice to participate in Self-Storage ownership today.

As a result, many investors use their Self-directed IRAs and 401Ks retirement money in self-storage properties purchases.

Forget New Year’s Resolutions!

 Introduction…Every year Americans fail to keep their New Year’s Resolutions.

But, somehow we think if we just try harder, this year will  be different.

There are scientific and spiritual reasons why we should “Forget New Year’s Resolutions and Instead Prepare Our Minds For Success.”

Click here to watch this powerful 5 minute video.

Click to get 9 Little Known Secrets For Steady Real Estate Income…Free