We’ve talked about how to structure an offer in such a way that all options presented to a seller would also work for you. Basically, we don’t want to provide an option to the seller that we can’t work with. Presenting one offer only leaves them 2 options. Say yes or say no. Instead, assume they are willing to sell and present 3 purchase options. Cash, bank financing, and owner finance. No matter what they pick, you’re buying a facility!! Now check out this attached offer we received from a potential buyer. All options are seller financed but I give them credit for the multiple options presented. Have you made any offers lately and if so, how did you structure it?

How how you all handled setting up a new GMB page with a facility that already has one (but not good reviews) and we are rebranding? Do we need existing owners to remove their GMB page first?

Saw Daniel's post asking for an LOI template further down the feed and it made me realize the LOIs we use on the house side probably don't translate cleanly to storage. On distressed houses our LOI is short and blunt because we're usually the only offer on the table. For storage, sellers are more often talking to brokers and comparing multiple offers, so I'd guess you need more in there - financing contingency language, DD period length, whether you're underwriting off trailing-12 or in-place NOI. For anyone who's closed a few of these, what actually moves the needle in the LOI itself vs. just being the offer with the fewest contingencies?

Hey all, Aldo here - I run a wholesale/dispo shop in the Philly market (Kaizen) and I'm poking around storage as a second asset class since a chunk of our seller leads are people sitting on unused land or old buildings that don't pencil as houses. Read Shane's post about the facility that went from $560K to $1.2M in 16 months just by fixing the unit-mix data and cutting the 57% expense ratio - that's basically the same underwriting move we make on distressed houses (fix the data, fix the ops, don't overpay for the fantasy). Trying to figure out if storage deal flow looks anything like SFR deal flow (direct to owner vs broker) or if it's a totally different sourcing game. Good to be here.

Who is everyone using for property insurance for their storage facilities? Need some recommendations...thanks!