This is just one of the data points to look at. What price are you looking for when looking to buy a facility? I assume it's a different number for NCC vs CC. I've heard of looking for $60/sqft or less. Is that for NCC, CC, or just and average for both? I guess it could be different based on location, but let's assume this if for tertiary markets.

My name is Karl Owens from Westminster, Maryland. I am looking to get my wife and I out of the 9-5++ rat race we have been in for 30+ years. With and empty nest I want the freedom for us to go where we want, when we want. My goal for 2026 is to buy my first storage facility and build the confidence to get out of the grind. Freedom means the flexibility to make my own path and work when and how much I want to.

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We are under contract on a facility and I want to make sure I share this project journey with you so you can see the exact steps we take during the DD process. Teaching from theory is one thing. Walking you through an actual deal in real time is a whole different ball game. This is a good one as I've underwritten a lot of deals and have never come across something quite like this! This facility has 110 units. 35 of those units are past due for a total amount due of over $100k! Some made their last payment as far back as April 2018.. Another 19 units are being used by the owner and family for FREE! Current street rates are about 40% below market. No internet on site.. No Website.. No software.. No one answering the phones.. No P&L.. No management reports.. No tax returns... Just a spreadsheet rent roll and a handful of bank statements. Currently collecting about $2,500 per month. We should get that up over $10k per month within 3 years conservatively. Current 3 mile market supply = 17 square feet per capita. Average HH income = $66k 3 Mile Population = 29k people Under contract for $29 per square foot! Drop your questions or comments below! 👇

Curious to see if any of the facility owners here pay a landscaping company, or add additional money to your BOG monthly wage? We have done both, and I find that it could be a good savings if you just add extra money for your boots- or include into the initial list of duties upon hiring.