04.23.2022 - By Jake & Gino
Markâs Background: ⢠Vice President of Investor Relations at Hearthfire Capital ⢠LP on 20 deals ⢠Raised $13,000,000 in capital ⢠Done $28,000,000 in self-storage Markâs Philosophy: ⢠Recently, capital from office space is diverting to self-storage ⢠5 Major REITs in Self-storage: - Public Storage - Extra Space - Life Storage - National Storage Affiliates - Cube Smart â The top 5 storages are making a big push to conduct all processes online; no human interaction o The only human requirement is for unit turns once a storage unit is vacated â âYou will get an increase in interest when you can minimize frictionâ â Looks for locations with 50,000 or more square feet o Economies of scale o Only 1 person is required to manage an entire self-storage site regardless of site â Looks for value-add opportunities such as deferred maintenance, no fencing and underutilized empty space on site â Stabilized deal in self-storage is 92% physical occupancy and 92-94% economic occupancy Tips for Investors: â Ask yourself, âWhat will cause this project to fail?â â Ask this question before investing in any deal Contact Information: http://investingwithmark.com/