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This time last year we had 7 self storage properties and 97,000 rentable square feet under ownership.
Today we have 20 properties in 4 states and 536,000 rentable square feet.
Our Erie PA portfolio just eclipsed 70% physical occupancy today.
We purchased the 3 properties at auction in October of 2019 for $656,000.
It was 20% occupied doing $4k a month when we bought it.
The folks who complain about CEOs getting paid too much have never owned Microsoft stock.
We purchased this facility for $1.3MM in December.
$42k in revenue - $20k in expenses = $22k in NOI in the FIRST 3 months.
This one will turn into a 10 cap year 1 deal for us.
Now is a great time to buy a service business.
The owners are near retirement age and their kids have no desire to take over.
Way more sellers than buyers. You can often buy with little or no money down (seller financed) at 1-2x profits.
This right here is why I do what I do:
I’ll be sharing my individual real estate deal breakdowns (with financials) to folks who hold more than a certain amount of $$ of coin.
(When that feature is released)
Welcome to the sweatystartup community!