“How
I Built A $10,700 Positive Monthly Cash Flow In 1 Year Without
The Hassles Of Tenants And Toilets”
Call 1-800-895-4373
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!
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?
Well
since you are here, 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:
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.
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!
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
The development cost of self storage is one-third to
one-half that of Apartments (multi-family), office buildings, or
retail properties.
Operating
Costs
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
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
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
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!
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:
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!)
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
Definition of Self Storage
The History of Self Storage
Self Storage Tenants
The Current State of the Market
CHAPTER 2: Investment Opportunities In Self
Storage
20
Reasons for Self Storage Now!
Debunking the Myths
CHAPTER 3: The Future of Self Storage
Reasons for Increased Demand
Advancements in Technology
More Products & Services
Focus on Customer Service
Industry Consolidation
Increased Competition
Increased Values
CHAPTER 4: To Buy or to Build
The advantages of Buying
The advantages of Building
CHAPTER 5: Where to Find the Deals
The 7 Best Ways to find Self Storage Deals:
1.
Engaging Brokers
2.
Tapping Self Storage Websites
3.Mail
Campaigns
4.Cold
Calling Campaigns
5.
Canvassing
6.Local
Newspapers & Publications
7.The
Living Billboard
CHAPTER 6: Evaluating the Opportunities
Determining Value
The Prospecting Fact Sheet: The 27 Questions you must ask
every seller Before moving Forward!
Mapping the Property
The 5 minute Valuation Calculator
Definition of and how to Calculate the Capitalization Rate
Chapter 7: Mastering Market Analysis
Location, Location, Location
Measuring Employment Growth
Traffic Counts and the importance of
Determining Population Growth
Calculating Median Income
Sizing up the Competition
Analyzing Local Demographics
Determining Market Demand
Gathering Market Data
Utilizing The Various Industry Reports
Chapter 8: Making the Offer
Negotiating With Sellers & Brokers
Pros & Cons of using Brokers
Justifying your Price
The 8 Motivations of Sellers
Presenting the Offer
The Letter of Intent (LOI)
The Purchase Agreement: 9 Tips You Need To Know Before
Signing!
Chapter 9: Due Diligence
The Due Diligence Checklist: A must have list of items
needed Before Closing!
Verifying the Income
Uncovering Hidden Expenses
Major vs. Minor Misrepresentations
Chapter 10: Valuation
Appraised Value
Comparable Sales
Replacement Cost
The Income Approach
Reconciliation of Value
Intrinsic Value
The Self Storage Valuator® Software Tool - The fool proof
way to determine Cash Flow and Estimate Value!
Chapter 11: Financing Your Facility
Leverage: The Double Edged Sword
Seller Financing
Private Lenders
Mortgage Brokers vs. Mortgage Bankers
Hard Money Lenders
Commercial Banks
Community Banks
Credit Companies
Insurance Companies
Conduit Financing
Savings & Loans
Government Loans
9
Different Loan Types for Self Storage
Choosing the Right Lender and Loan
Building Banking Relationships
16
ways to Find Cash for the Down Payment
Avoiding Over-leverage
Chapter 12: Creating your Business Plan
Reasons for a Plan
The 7 Essential Elements of a Business Plan
The Business Plan Format
Packaging your Plan
Chapter 13: Tax Planning
Capital Gains
Ways to treat Rental Income
Minimizing Capital Gains
Self Storage Deductions
Self Storage Depreciation
Bookkeeping
1031 Tax Deferred Exchanges
Personal Property
Chapter 14: Entity Selection
Sole Proprietorship
Various Partnerships
Various Corporations
Real Estate Investment Trusts (REITs)
Limited Liability Companies (LLCs)
Various Trusts
How to Choose the Entity that matches your facility &
Situation
Chapter 15: Asset Protection
Plan Now! Don't Procrastinate!
Honesty is the Best Policy
Intentional vs. Unintentional Fraud
Educating your Employees
Insurance - Your 1st line of Defense
Document, Document, Document
Land Trusts
Separate your Assets
Utilize Great Advisors
Chapter 16: Take Action Scott's Five Principles
of Success:
1.
Overcoming Fear
2.
Setting Goals
3.
Prioritizing Your Activities
4.
Perseverance
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.
$997.00 Value!
Plus..
Scott's
Unconditional, 30 Day Money Back Guarantee!
**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.
