I have always enjoyed the business world. I specifically liked the rental side of that world. I started out in the rental equipment industry a long time ago and then eventually made the transition in my successful career in self storage. You see, there is just something awesome about being able to own something, let someone else pay YOU to use it and then at the end of the day you still own it. What a great formula. Sounds like the perfect business plan to me and frankly, it IS the perfect business!
As I became more familiar with commercial real estate and all the options that were available, I gravitated to self storage. Let’s face it, we have all heard or experienced the horror stories that go with house or apartment rentals. Trashed out homes in need of lots of repair to be able to rent again, the phone calls at 2 in the morning because the heat won’t come on or busted water pipe that leaves three inches of water covering the floor. As I continued my journey, I found a wonderful real estate niche that was a perfect fit for me. Self Storage! Why? Simple really, no phone calls in the middle of the night, no dealing with a tenant that could care less about upkeep of a property, and a long list of other reasons. In Self Storage you still have tenants, of course, but all they need is a place to store their cherished items when they run out of room at home. Give them a safe and secure place and they are happy.
So are you asking yourself: How do I get started? Do I need a huge amount of cash? Do I need years of experience? No, No and No.
There is some initial investment expense, but that’s ok. You are investing in your future after all. Find the right facility for you and that won’t even be an issue. Oh, c’mon, it can’t be that easy. I didn’t say it was easy, but it’s possible. You see, I walked the path you are walking. I started as just a manager and moved up to a regional manager for an investor’s portfolio. I dealt with an owner that was only interested in making money, then more money and then more. His concerns were not about the actual facilities potential or about my ideas or thoughts for the facilities. Like many others, with employers doing the same thing, I began to ask myself: Why should I work my tail off for him? So, I started exploring what was out there.
Guess what, there are all kinds of opportunities in self storage. Each one is somewhat unique and with some work a self storage facility could be yours. That’s what I did. I found a facility that fit my financial picture, one that I could make my own. I started putting my info together. The due diligence that was necessary on my journey to being an entrepreneur. I asked the seller for previous history, profit and loss statements, occupancy levels, and expense and income records. Talked to the bank. Negotiated. Then I bought my first facility!!
Wow, how exciting and I didn’t have to be a millionaire to do it. I also discovered something else. One was not enough. So, I started talking to more banks, brokers and agents. I wanted to find another facility that fit me. Three years later I am fortunate to have three self storage facilities and they happen to be three of the facilities that a ran as a Regional Manager.
The best part is I also put together a company to help others realize their dreams too. Do you enjoy self storage? Would you like to own your own facility? Check out www.selfstoragefacilitymanagement.com. Sign up for a FREE 30 minute consultation. Do what I did, OWN it… not just manage it and start your success in self storage!
About Kevin Rollings & Self-Storage Facility Management
Kevin R. Rollings is a Teacher, an Owner and an Operations Manager for Self-Storage Facilities! Kevin has over 25 years rental experience at various levels of management and ownership in the rental niche.
Kevin was the regional supervisor for Scott Meyers, the past owner of Alcatraz Storage’s in the Indianapolis Greater Areas. Kevin was often a speaker at Scott Meyer’s Self Storage Academy as the key speaker for Management 101 and for Self Storage Auctions. His wisdom and excitement for the industry lead Kevin to purchase Alcatraz Storage in Brownsburg, Indiana, moving him from a once manager to a current owner!
For more information, please visit: http://selfstoragefacilitymanagement.com/