How to Become a Millionaire in Any Real Estate Market with Self Storage

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The Complete Guide to Finding, Evaluating, and Purchasing Self Storage Facilities™ Home Study System

Here's a business concept that's creating a mini-revolution all across the country and giving thousands of people the ability to create their own wealth system right from their living room. The Self Storage business may seem familiar to you, but it's actually re-inventing itself in so many important and exciting ways, and is widely regarded as the most profitable and easily managed real estate investment in the country.

The good news is that Self Storage is a $220 billion+ (market cap value) and $22.6 billion (annual revenues) industry in the United States that comprises 51,223 primary facilities with more than 2.2 billion rentable square feet! And of those 51,223 facilities, roughly 23,000 have been added in the past 7 years, proving that this is a product that is in high demand! In addition, a recent study by the National Self Storage Association showed that only 1 in 10 US Households are now renting 1 or more Self Storage Units, creating a high growth industry with only 10% penetration!

Ben Stein, noted American economist

I can't think of 1 single long term trend in our country and our economy that doesn't benefit Self Storage - It's the perfect storm - a hurricane of Profits

How many business opportunities have you looked at? Ten? Fifteen? Twenty? How many sites have you visited promising unlimited wealth with no risk or without lifting a finger? Maybe you've looked at franchises that charge astronomical fees and huge back end royalties.

I know, I've been there. Over 14 years ago I started looking for the perfect business...one I could do without sabotaging all my time, my current job, my marriage, or my friendships.

What I wanted was a business that I could mold into my lifestyle and personal financial goals. A business that was isolated from good and bad economic cycles, not a fad that would fizzle out, leaving me right back where I started.

The Benefits of Investing in Self Storage

Tell me if any of these benefits apply to you:

  1. The ability to Set Your Own Hours. Turn small amounts of time into sizeable profits. Start part-time, earn while you learn, and ultimately replace and exceed your regular job’s income before you walk away from it. Or, if you like, work part time or make the equivalent of a full-time income from spare-time hours and call yourself retired.
  2. You Operate Using a Proven System, but with no Franchise Fees or Royalties. I lack creativity, and did not want to reinvent the wheel. I wanted a proven step by step system – like a franchise, but without the hefty up front fees and back end royalties.
  3. Low to No Overhead – I wanted the ability to run my business from my home, or my favorite coffee shop, and enjoy the tax benefits of operating a home-based business.
  4. Flexibility – I wanted the ability to go it alone, or bring on partners as the business grew. In addition, I wanted a business that could be duplicated in any area of the country, so I could make money while vacationing in different cities (and make the trip tax-deductible)
  5. Make Instant Profits – The ability to generate cash flow from day one; not in several years after pouring my life savings into it, or borrowing money from my relatives and friends.

Well after talking to and meeting with several older, wiser, (and richer) friends, I found one thing in common: Virtually all of them had made their fortunes in real estate, and the others had a real estate portfolio larger than most so called full time real estate investors.

So I jumped in with both feet by purchasing a Home Study System by one of the top "Guru's" in the country on how to invest in real estate with no money down. And I, unlike so many other people who buy courses and then stick them on the shelf, actually watched those tapes and read the manual. And Guess what........it worked! I bought my first piece of investment real estate, a 3- bedroom 1 bath single family home, for $30,000 with $0 money down!

Then I rehabbed it, rented it, refinanced it, and pulled out enough money to re-invest in 2 more just like it. I repeated this several times over and had made a small fortune in the single family buy it, fix it, rent it, and sell it real estate business. I then took that small fortune and began to invest in several apartment complexes, and office buildings. The cash flow was great, my net worth had skyrocketed, and I was living the dream! (so I thought).

Then came the tragic events of September 11, which as many of you may remember, shook our country to the core. In the recession that followed, our vacancy rate plummeted near our break even point, our insurance rates had soared, and a statewide property tax increase on all our properties a year later delivered the final blow. The promise of a better life and the creation of wealth through residential rental real estate had been jeopardized in just a few short years, and I knew something had to change!

As I pondered my options, I realized that my passion still lied within real estate. The main reason I was in this mess because I was in the business of renting space to PEOPLE. The lost rent from evictions, move-outs in the middle of the night, huge collection expenses, high vacancies in tough economies, plus the cost to repair, re-paint, and re-carpet each of our 400 units when they became vacant was eating away at our monthly cash flow.

Also, being a victim of random increases in property taxes, insurance, and utility costs over the past 5 years brought me to the conclusion that I no longer wanted to be in a position where I was slave to the tax man, the insurance companies, nor the utility monopolies any longer.

"Although I was Making Money with Single-Family Homes and Apartments...I wanted to Make More Money, Faster, without the Hassles of Tenants, Toilets, or Employees!"

So the conclusion was that my dream job was to build a low-risk, high cash flow real estate business without all the hassles of tenants, toilets, or employees! Simple enough, but did such a business really exist? Was it a pipe dream? Or was it the best kept secret in Real Estate Investing?

Top Ten Reasons for Self Storage Investing

Well since you logged on to SelfStorageInvesting.com, you probably already know the answer; I found my dream business in Self Storage. After performing a great deal of research on the industry, I decided to sell all my single family homes, apartments, and office buildings, dump all my tenants and toilets, and focus solely on Self Storage for the following "Top 10" reasons:

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10. Low Barrier to Entry - There are Approximately 52,500 existing facilities in the U.S. creating a tremendous buying opportunity

9. Real estate - because of the power of leverage, tax advantages, and wealth creation through forced appreciation

8. Demand Projections are on the rise: 23,000 facilities, or roughly half of all facilities in the U.S. have been built in the past 7 years, and 77 Million Baby Boomers are set to retire, move, downsize, buy 2nd homes, and will need storage.

7. Multiple Profit Centers - Merchandise sales of locks, boxes, & Moving supplies, Cell Towers, Billboard leases, Carwashes, Business Centers, Pack & Ship services, Insurance sales, Plus Truck Rentals, EBAY©, & much more!

6. Minimal Collection Losses - The ability to Lock out non-paying tenants, and then auction their stuff to recapture lost rent. (Can you imagine doing this in the apartment world?)

5. Low-risk - multiple units in 1 place; No single move-out dramatically affects cash flow. As a result, Self Storage loans have the lowest default rate of any real estate product type in the market, period!

4. High Cash Flow - Taxes, Insurance, and utilities are lower than any other property class, therefore, they aren't susceptible to large increases. In addition, the $ per sq. ft. is the same as other types of real estate, without the additional expenses.

3. No Employees - Manage on your own, or from afar with an automated, ATM style kiosk

2. No Tenants - Just Stuff like Patio furniture, boxes, books, and couches, Not People and their bad habits and behaviors.

1. No Toilets - Just steel walls doors, & roofs, with a gravel or asphalt driveway and a fence. When a tenant moves out, I don't have to fix anything, nor Re-Paint, or Re-Carpet and NO TOILETS!

After years of spending every weekend and many evenings remodeling single family houses to rent or sell, Scott Meyers convinced me that Self Storage is the way to go. Now that I have sold my single family houses and own Self Storage, I haven't painted a wall or cleaned someone else's toilet for months now. Now when a tenant leaves, I grab my broom and in 30 seconds the unit is ready to rent for the next tenant. Thanks Scott! - Chris C., Greenfield, IN

So How Does Self Storage Stack up against other forms of Commercial Real Estate Investments?

When comparing Self Storage to other real estate investments such as Apartments, Office Buildings, and Retail, how do they compare? Lets explore some of the most important factors.

Development Costs

Development Costs Graph

The development cost of self storage is one-third to one-half that of Apartments (multi-family), office buildings, or retail properties.

Operating Costs

Operating Costs Graph

Owning Real Estate requires regular maintenance of the grounds, appliances, plumbing, electrical fixtures, etc., which usually require a maintenance staff. As the graph illustrates, self-storage operating costs are less than half that of other real estate properties.

Break-Even Occupancy Rates

Brake-even occupancy rate Graph

When owning investment property, you simply must fill a certain amount of space to keep from losing money. In self storage, this break-even point is considerably lower than other real estate ventures due to its low development costs.

Annual Rent Ranges

Annual Rent Ranges Graph

This chart illustrates that the annual rent ranges for self storage fall within the range of other real estate. However, considering the lower development and operational costs we discussed above, self storage can yield a better bottom line.

Failure Rate Comparison

Failure Rate Comparison Graph

Compared to other real estate investments, self storage has the ability to absorb economic fluctuations, maintaining value during both good and bad economic times.

Source: "The Big Financial Picture"
Inside Self Storage Magazine, Nov. 2000, by Mike Parham, National Development Services, Inc.

Now, I know what you're thinking...

Misconception # 1 - "Great, but Self Storage is an industry dominated by major corporations". This couldn't be farther from the truth. In fact, of the roughly 51,500 facilities in this country, approximately 88% are owned by smaller operators, not the "big boys" as many people think. In addition, most of these "mom and pop" operators started with little or no knowledge of the industry, yet they are making more money than they ever thought possible, and in all markets and in both good and bad economies. And guess what, many of these owners developed their facilities specifically with the intention to sell them off to investors like us!

Misconception # 2 - "This all sounds great, but there aren't any facilities where I live". Ok, let's review; there are roughly 51,500 facilities in this country! So if you don't believe me, and you want to know how many there are in your area, simply open up the phone book and look up "Self Storage" in the Yellow Pages, or Google "Self Storage" followed by the name of your city or town, and watch the listings flow in. Besides, this is an investment that can be managed from afar, so don't limit yourself to just your home town. I personally own several properties all around my home state of Indiana. I use a web based property management system and automated ATM-style kiosks, and I visit my facilities every 2 weeks or so. I also have plans to expand into several other states and I have the ability to manage them from anywhere I can get an internet connection and a cell phone signal.

Misconception # 3 - "Self Storage deals must be harder to do than single-family deals" . Does buying a triple mocha half calf non fat extra large latte with whip take any longer to buy than a small black coffee? It's the same process. With Self Storage, I use virtually the same methods I used when buying single-family houses. And where they differ, I developed my own checklists and systems that clearly spell out what needs to be done and when.

Well after I got past these industry myths.......

The First Step I took was to immerse myself in education. As I looked around for ways to educate myself in this industry, to my surprise, I found that there were no courses available to teach me how to do it. So I just bought every book, went to every seminar, and meeting I could find, and eventually joined the Self Storage Association. I bought everything I could get my hands on and learned all the tricks, techniques and strategies that were out there. I learned it all, but it wasn't easy. I don't think anybody wanted share how much money they were actually making in this business. And as I have found, there is a boatload!

The Second Thing I did was to build on my successes and experience using technology from my apartment, office, and warehouse investing career. I took what I learned through several years of training and thousands and thousands of dollars spent on courses, books, and seminars I had attended over the years began to apply it to my Self Storage Business. I learned how to set up systems that maximized efficiencies in all areas, and allowed the business to thrive without the need for me to be involved in the day to day operations. However, one of the biggest discoveries was that you can now manage your facility from thousands of miles away with an automated Kiosk, that rents, accepts payments, and even sells locks!

The Third Thing I did was to put the two together and create an easy to follow, step by step system that allowed me to become a successful investor working fewer hours per week. This is also the same system and business plan that I use to train my staff and other people who work with me. It's all here, I've left nothing out!

Oh yeah, and the next thing I did was buy a 296 unit Self Storage facility with No Money out of my own Pocket!

After carefully evaluating several facilities, we were able to find a 150 unit, 16,000 s.f. for $600,000 with the ability to expand. Using your value-add strategies, we built more buildings on the property and now the business has a $10,000 positive monthly cash flow and will provide a lifetime of income for our family. -Thanks, Dan Bradley, Plain City, OH

At the end of 12 months, I had purchased 3 more facilities, with a positive cash flow of $10,700 per month, with no tenants, and no toilets! I now own several facilities comprising 1,000's of units, my monthly cash flow is more than some people make in a year, and I could retire if I want. But as Confucius said:

Choose a job you love, and you will never have to work a day in your life - Confucius

I found out the hard way, however, that there are a few important differences between buying a single-family house or apartment building, vs. buying a Self Storage Facility. I made a lot of mistakes in the beginning-some very costly. But what counts is that I learned from my mistakes, and I created systems so I wouldn't ever make those same mistakes again, with step by step instructions on how to find lowly Cinderella facilities and turn them into Belles of the Ball (making a boatload of cash in the process!)

Dear Scott,I was an appraiser working in Brownsburg Indiana when I stumbled onto a self storage facility that a business acquaintance owned. We agreed on a sales price contingent upon me sell off my 7 duplexes and 2 single family homes to have enough money to buy his facility. Fortunately, I was able to unload them all to an investor that gave me enough money to buy his facility for $460,000. Using you value add strategy, I built another building to the existing 4, with 22 climate controlled units and some offices in the front for $300,000. For another $13,000 I added gravel to the remainder of the 4 acre lot and fenced it in for Boats and Rv’s. In a short time, we were full, and it was throwing off around $3,500 a month in positive income. A broker friend of mine said he had a buyer looking in the area and he made me an offer I couldn’t refuse. I sold the facility for $1.5 million dollars, for a profit of around $727,000!. My appraisal business has grown tremendously, and now I’m looking for my next Self Storage Project. -Thanks Scott, Curt Johnson, Brownsburg, IN

"The Complete Guide to Finding, Evaluating, and Purchasing Self Storage Facilities™"

Get Your Copy Now!

Fortunately for you, I’ve combined all of my knowledge, and all of my systems into my Home Study System called:

”The Complete Guide to Finding, Evaluating, and Purchasing Self Storage Facilities™”

This Step-By-Step system means you won't make the same mistakes I did, and will show you how I went from being a tired, overworked and underpaid landlord, to creating $10,700 in monthly spendable cash in 12 short months, without the hassles of tenants and toilets.

Here's the Complete Table of Contents of the course, Straight from the Manual.....

CHAPTER 1: Industry Overview

CHAPTER 2: Investment Opportunities In Self Storage

CHAPTER 3: The Future of Self Storage

CHAPTER 4: To Buy or to Build

CHAPTER 5: Where to Find the Deals

CHAPTER 6: Evaluating the Opportunities

Chapter 7: Mastering Market Analysis

Chapter 8: Making the Offer

Chapter 9: Due Diligence

Chapter 10: Valuation

Chapter 11: Financing Your Facility

Chapter 12: Creating your Business Plan

Chapter 13: Tax Planning

Chapter 14: Entity Selection

Chapter 15: Asset Protection

Chapter 16: Take Action Scott's Five Principles of Success:

  1. Overcoming Fear
  2. Setting Goals
  3. Prioritizing Your Activities
  4. Perseverence
  5. Developing your Purpose

Case Study: Brownsburg Crossing Self Storage - A Real Live Example of A Recent Deal

Glossary - Over 600 Commercial Real Estate and Self Storage Terms

Appendix - Hard Copies of all the forms included in The Document Library CD

The Complete Guide to Finding, Evaluating, and Purchasing Self Storage Facilities™ includes:

1. 299 Page Manual to be used in conjunction with the DVDs & Audio CDs included that will show you step-by-step, from A to Z, how Self Storage will make you wealthy; the safer, faster way. You'll discover how to find the deals, how to evaluate facilities, keys to successful negotiations, writing offers that get accepted, where to find the money to fund your deals, and how to extract maximum dollars.

2. 6 Full length DVDs including 4 Live Case Studies from my all day live training event - that you can pop into your home DVD player and get a "classroom at home" teaching experience from the comfort of your favorite chair that will bring my strategies and experience straight to your living room.

3. 6 Audio CDs From my all day live training event that you can plug into your car or home CD player and get a teaching experience that will cement these concepts and amplify the techniques and coaching only I can provide.

4. The Self Storage Valuator Software™ CD and accompanying step-by-step manual - This fool-proof software will save countless hours of critical calculations, with a level of accuracy that eliminates easily overlooked but extremely costly errors. The Self Storage Valuator™ Software tool gives you concise information and the professional format necessary for getting deals approved through lenders, investors, and appraisers alike.

5. The Document Library CD with 18 various Checklists, agreements, contracts, spreadsheets, mailers, Purchase Contract and accompanying forms for Buying Self Storage Facilities.

6. Scott's Fast Start CD - A step by step 90 day checklist outlining exactly what you need to do to close your First Self Storage deal!

 

Bonus #1

90-Day One-On-One Mentor Certificate

You want to create wealth with self storage, but need a little guidance so that your deals go smoothly and you don't make bad decisions. I will be your personal Mentor for a full 90 days. Not someone else in my office, or my secretary............

You Get Me-Scott-The Self Storage Guru- Live, In Person!

I'll personally answer your questions, and provide the solution to any challenge you face, for a full 90 days, and you keep all the profits!

Notice: I plan to eliminate this bonus altogether in the near future, as I am far too busy doing deals to offer anymore open-ended hotline assistance with my students (my apologies!)

I STRONGLY suggest you take me up on this 90-Day Unlimited Hotline deal NOW, while it's still available!

Easily over a $2,000.00 value!

Bonus # 2

My Complete Operations Manual and Forms Handbook

For a limited time, you'll get a CD that includes every possible manual, form, and document you will ever need to operate your self storage facility, over 70 documents in all! You'll get a Customizable Operations manual and all the forms required for the day to day operation of a self storage facility for reference, or to train your employees. It's all there; from auction forms, to truck rental and retail sales forms, leases, and everything in between. You'll also get my completely customizable, fill-in the blank Human Resource policy manual for employees, that I paid several hundred dollars to have developed. There's nothing left for you to create, or pay someone else to; I've already done it for you. Simply Print, and go!

A $277.00 value!

Bonus #3

How You Can Get My Entire System FREE!

Here's a bold challenge for you. Use my system to do your first deal within 90 days and send me a copy with your success story and photo...

And I'll Send You A Check For The Entire Purchase Price Of My System!

That's right. A 100% rebate if you'll let me use your story in our advertising and can show me you've acquired a self storage facility in your first 90 days.

Along with your system will come the rebate certificate and there are no strings attached. It's my way of curing your procrastination to get you moving towards success. I'll do my part, now you do yours.

An $1,197.00 value!

Plus..

Rebate certi

Scott's Unconditional, 30-Day Money Back Guarantee!

If you're not completely satisfied with The Complete Guide to Finding, Evaluating, and Purchasing Self Storage Facilities© home study system for any reason, simply return it in resalable condition and I will immediately refund your invested money in its entirety - no questions asked!

**Please Note That The Original Receipt With Your Name Listed As Purchaser Is Required To Receive Any Refunds and the course must be returned in Resalable Condition.

Scott Meyers CSSM

Knowledge is the currency of the new economy, and now you have the power to change your whole family tree! - Scott Meyers, CSSM©

Scott Meyers, CSSM©

There is absolutely no risk on your part...

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Order The Complete Guide to Finding, Evaluating, and Purchasing Self Storage Facilities© today! Also, please drop me a line when you close your first deal or pass a milestone (like passing your current income). I read and respond personally to every letter I get, because I'm committed to seeing you succeed.

To your QUICK Success,

Scott Meyers CSSM Signature

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