Category Archives: President Donald J. Trump

Safe Clean Secure/ Top Storage Concerns

Safe Clean Secure

The concerns for those renting or looking for self-storage are easy to identify:

  1. Safe- Everyone wants to walk into a storage building or property where safety of the renter and family is not at risk. Antidote: The man who lived onsite at one for sale storage property I reviewed said he was disturbed late at night by what he though was a Meth lab.  I was convinced and did not return.
  2. Clean- Everyone wants to be free from the neighbor’s roaches due to storing dog food or smells from junk getting into their unit.
  3. Secure- Renters want to can store his or her property in a unit that can be properly secured.

Since 70% of our renters are woman and 92% of storage is used by households, the above list resonates.

Location is also important.  Tenants often pick the property that is closest to their home or work. However, in general the above list is how the best one will be sifted out.

One study showed most renters, 65%, were not that concerned with price. That’s why most properties are able to achieve a price increase once or twice a year.

What if I could satisfy the above concerns and cut my development and lease up time in half?  Well, then my return on investment skyrockets.

Our plan is to purchase and develop a series of properties with similar look and management tools to facilitate a future sale to a bigger fish.

Summary: One owner of multiple self-storage properties said he was selling his portfolio for $200,000,000.  Does that intrigue you?  If so, contact me.

This has been Bill Moist, MS, CPA.  Click here to watch “Safe Clean Secure: Top Storage Concerns

Investing In RV/Boat Storage: Five Questions To Ask First

RV/Boat Storage

Introduction...Ask any boat or RV owner and they’ll tell you: Finding a place to store those vehicles can be tough. Homeowners’ associations hate seeing them in driveways; cities ticket them when they’re parked on the street; and apartment-complex managers don’t take kindly to sacrificing their limited parking.

There is a great opportunity for self-storage business owners to expand our business thanks to the growing demand in RV and boat storage and the low supply thereof. There are five questions one should ask when adding these storage units to our new or existing self-storage business.

1. Why Should We Offer Boat/RV Storage?

The first thing we’ll want to ask ourselves when considering the addition of boat/RV storage is whether it’ll be profitable. In most markets, it will. The main reason is the scarcity of the service.

2. What Type of Boat/RV Storage Should We Offer?

The great thing about adding boat/RV storage to your facility is it won’t necessarily cost a fortune. Besides tailoring it to the needs of future consumers, you can modify it to fit your budget.

There are essentially three types of boat/RV storage, ranging from simple to luxurious. The most basic form is a simple parking lot with spaces available for rent. If we have land you can pave or an existing parking lot that rarely fills up, converting it to storage should be easy. Simply use paint to designate rental spots and number them accordingly.

One step up from parking-lot storage is canopy storage. This type features a roof only or a roof and walls on two or three sides. It’ll cost a little more, but it’s a worthwhile investment if you live in an area where it snows or you get excessive sun; tenants will be happy to know that a canopy is protecting their vehicle from the elements.

If we want to cater to customers who expect luxury, you can offer fully enclosed units. These feature high clearance for even the tallest of vehicles as well as roll-up doors, dependable locks and even unit alarms. If you live in an area where you see many high-end boats and RVs, this type of storage will guarantee you business.

3. What Basic Features Do I Need?

Installing boat/RV storage won’t require you to change everything about our facility, but it will necessitate a few tweaks. The most important thing you’ll want to offer these tenants is space—not just to park but also to drive. We’ll need drive aisles that are at least 35 feet wide to accommodate large motorhomes and vehicles that are towing boats or a fifth-wheel trailer. By giving vehicle owners that extra room, you’ll not only improve their storage experience, you’ll prevent them from potentially damaging your property.

4. What Amenities Should We Offer?

If we really want to go the distance, there are a number of additional features and services we can offer. Wash and dump stations, propane sales, vacuums with long hoses and even air pumps are outstanding amenities that are likely to result in consumers choosing your facility over another. Providing electrical hookups in units will wow tenants as well.

5. How Do We Attract These Tenants?

They’re probably already looking for us! All we have to do is let them know we exist. Prioritize Web-based marketing over older techniques such as print advertising. Use our website by including quality photos of your property as well as a detailed list of amenities you offer specifically for boat and RV owners. Use the same terminology on our website that boat/RV owners use, as this will help your facility place higher in online searches.

In conclusion...With increasing numbers of people eager for a taste of life on the road (or sea), RV and boat storage is more desirable than ever. Fortunately, supply hasn’t caught up with demand—that’s where we come in and can create great cash flow.

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