Your DUE DILIGENCE in Self Storage Investing (with Checklist)

[@SelfStorageIncome]

Get your copy of the due diligence checklist here! www.selfstorageincome.com/dd-checklist

[@citruslands8386]

Very thorough. Thank you!

[@SelfStorageIncome]

Hey @citruslands8386, glad it was helpful! 😉

[@davidacosta8060]

Thank you 🔥

[@buildingAbiz]

Do you have a link that I can go to download that 11 pages of due diligence questionnaire that you give to sellers? 🤓

[@SelfStorageIncome]

I don't currently, but since this video and talking about it on the podcast, there are A LOT of people asking for it haha. I'm going to see what we can do to possibly get this in the tools section of my self storage income website. 😎

[@buildingAbiz]

@@SelfStorageIncome ok wonderful once you do please share the link here

[@SelfStorageIncome]

Yeah I'll probably have the team update the video description to include a link. But be sure to get on my site's mailing list for stuff like this too.

[@buildingAbiz]

@@SelfStorageIncome Okay awesome!

[@SelfStorageIncome]

www.selfstorageincome.com/dd-checklist

[@joeweston3185]

Hello A.J Thank you for the valuable information and sharing your comprehensive due diligence check list via the link! Regards, Joe Weston

[@SelfStorageIncome]

Hey joeweston3185, you're most welcome! Glad you found the information valuable! 😉

[@ericgeorge1689]

Great video and very thorough!

[@SelfStorageIncome]

Glad to hear you enjoyed it Eric! Thank you!

[@chronicexposure3839]

Hi I was wondering if there was a problem because I have been unable to download your checklist or sign up for your newsletter. Thanks for all your great videos. Very helpful}ful. 😊😊😊

[@kentchu1048]

This is great content! I can pretty much go through this list when I'm in the DD phase. Feedback: there's a lot of footage cutting when you're talking, I think this is great but the zooming in/out for each cut is distracting.

[@SelfStorageIncome]

Thanks Kent! Heck yeah, I'm glad to hear that. Hope this helps. I wanted to really break down what this process looks like and help guide people through it. Thanks for the feedback!

[@lutherodom3060]

That would be awesome if we could get the questionnaire. Thanks for the information!

[@SelfStorageIncome]

Hey you bet Luther, thanks for the support! You're certainly not alone lol, I've had a ton of people ask for this list so I'm working with my team to see if this is something we can put in the tools section of the self storage income website. Stay tuned 😎

[@SelfStorageIncome]

At long last, here it is! www.selfstorageincome.com/dd-checklist

[@KenBarrettTheRealKBarrett]

Awesome information. I have added all that, as well as some other items you have hinted at, into an online form that they can fill out and I can print and hand a hard copy to them.

[@SelfStorageIncome]

Awesome work Ken! Happy to hear you're putting this stuff into action! Thanks for the support!

[@TWamp33]

very helpful

[@SelfStorageIncome]

@TWamp33 - Glad it helped! What other areas should we delve into in our upcoming videos?

[@buildingAbiz]

This is awesome! Thank you!!!

[@SelfStorageIncome]

You bet! Love being able to get this stuff recorded and kicked out for you guys. Thanks for the support!

[@jeffcollins96]

I just downloaded the list, thank you. You are very kind.

[@SelfStorageIncome]

Hey @jeffcollins96 - You're very welcome! 😉

[@hassanabdin7107]

Do you recommend modular building, for a self storage building, if you do, what manufacturers do you recommend for Florida

[@spiritualalchemist2865]

Great video. Is there any way to outsource this process? If so, might the costs kill the deal?

[@gjacobs89]

I see others previously asked, but is the checklist now available on your website? Thanks for all the great content!

[@SelfStorageIncome]

Hey Grayson! Thanks for the follow up on this - working with the team on getting this rolled out on the website. Hope to have it done soon!

[@Craigs_car_care]

Oh, your good! I guess we just assume everyone does it like we do. "The right way"

[@SelfStorageIncome]

😎

[@reyn3545]

Great info... but twice you mentioned had "PNL" shown on the screen.... it's a P&L.

[@SelfStorageIncome]

Being an Idaho boy we decided to roll with the country version - "Profit N' Loss" 🤠 Thanks Mike!

[@joshuafranco928]

Is it a no go if an existing storage facility doesn’t have any contracts or contact info for the people renting units l. How would you go about getting the people out that aren’t paying if you don’t have their info

[@SelfStorageIncome]

Hey @joshuafranco928 - Great question! We had this happen at a facility we purchased a few years ago. The downside is that it can be a pain tracking down all these tenants and getting them to sign new contracts (especially if they haven't been paying) - the upside is that this is a clear sign of a poorly managed facility so that usually means there is tremendous upside in terms of increasing cashflow through operations and management.

[@joshuafranco928]

So would I have to take it over wait a month to see who pays. Then put a lock on the ones that don’t. Then wait another two months before I can get rid of the things in the unit to get new renters in? Or would that be what you would do. Thank you for the info. I plan on getting an attorney to help with the process as well.

[@SelfStorageIncome]

@joshuafranco928, This could vary state to state so definitely want to make sure you are doing everything in accordance to local laws and having an attorney involved is probably the right choice! If the current owner has some kind of documentation with a name and phone number you can start by being proactive and just calling these people before their bills are overdue and seeing what you can do upfront. Some of these people might end up being more than happy to sign a lease if they know that new ownership will be doing more to protect their belongings!

[@JiuJitsuRealEstateFmlySB]

Obnoxious or not better safe than sorry

[@shanecynova2424]

Would you be interested in being in a partnership with helping with financing like a 20% yours to 80% mine till your investment has been paid?

[@SelfStorageIncome]

Hey @shanecynova2424 - Fill out our storage partnership form here: www.selfstorageincome.com/storage-deal

[@TD-hn8jj]

Great info thank you! A bit daunting, but I don't scare off that easily. Lol 👍🏻

[@SelfStorageIncome]

That's what I like to hear! I've found that educating myself is the best way to overcome that feeling. But at some point we all still have to take the dive.