Financing Gauges Begin to Move: It’s Time to Shift Gears
Mini-Storage Messenger – January 2017 Since the 2008 economic recession, self-storage owners have capitalized on a Federal Reserve Funds target rate of nearly 0% to secure remarkable low-interest loans for acquiring, building and refinancing their properties. With so much self-storage financing readily available from various capital sources, financing gauges have been set at “full blast”
Read moreControlling Factors in Storage Refinancing
Inside Self Storage – November 16, 2016 We all want some control in our lives. Whether our health, lifestyle, working environment…it’s good to be in control. It’s also good to recognize some things are beyond our control: The weather, football kick-off times, our Thanksgiving dinner appetite…we wish we could have a better handle on them.
Read moreLessons Learned: Pondering the Prepayment Dilemma
Mini-Storage Messenger – October 14, 2016 At first glance, it seems fairly obvious that with currently low interest rates and so many capital sources offering highly attractive loan options, now is a great time to obtain new financing for your self-storage property. For many property owners, this obvious refinancing decision can get tricky because their
Read moreLessons Learned: Take What You’ve Learned and Apply it to the Future
Mini-Storage Messenger – September 16, 2016 Hard to believe, but it’s the fourth quarter of the year already…a time when we reflect on 2016 and begin planning for the year to come. And what a year it has been for the self-storage industry as demonstrated by strong operational performances by most operators and the continued
Read moreLessons Learned: CMBS Financing Rolls with Market Punches
Mini-Storage Messenger – September 15, 2016 Like a champion fighter who absorbs repeated jabs and hooks but is still standing to claim victory after a hard-fought bout, CMBS markets are rolling with the market’s punches and once again providing storage owners with great lending options. Borrowers ask lenders and mortgage brokers plenty of questions these
Read moreMapping Out Financing for RV and Boat Storage Facilities
We all know how boat and RV owners pamper their recreational investments with loving care.And when they park their vehicle for a long time period or pull their boat out of the water, they want peace of mind that their “ babies” are safe and secure. Providing customers with a first-rate RV and boat storage
Read moreSell, Buy, Build or Hold?
Will 2016 pick up where 2015 left off for investors in the commercial real estate marketplace? More specifically and more importantly to many of us, will the self-storage sector of the commercial real estate market continue the amazing run we have all enjoyed the last few years? We all know that the real estate industry
Read moreCapital Fuels Changes in Texas Storage Market
Texas SSA Magazine – August 15, 2016 While Texas oil fuels millions of vehicles daily, the capital markets have been fueling up the state’s extraordinary self storage facility development and expansion in recent years. There are three ingredients to any successful storage development project: The dollars and cents of development must make sense compared to
Read moreLessons Learned: Creating Customer Value One Relationship at a Time
Mini-Storage Messenger – August 14, 2016 When walking into a community bank recently, a sign in their foyer caught my attention. Its message promoted their mission statement which I thought was representative of today’s banking industry as a whole: “Our Mission: To be the first choice in banking…One Customer…One Relationship…and One Community at a Time.”
Read moreLessons Learned: Embrace Change… And Quickly
About 10 years ago, I ran into a self-storage acquaintance who owned a fairly large facility. After a nice chat, I suggested we exchange email addresses so we could stay in touch. He sheepishly admitted to not having an email address and being relatively unfamiliar with the Internet. I remember thinking, “It’s the 21st century. How
Read moreMaking a Lender’s Decision Easier: Telling Your Loan Request Story
As we roll into 2015, the capital markets continue to offer many low-rate loan options to storage property borrowers. Loan originators and banking officers are eager to lend, however they are still working within tightened regulatory and credit policy environments. While visiting the local bank and getting a loan based on a virtual handshake is
Read moreLesson Learned: Pursuing Not-Too-Hot/ Not-Too-Cold Leverage Strategies
The longevity debate about today’s low interest rate environment reminds me of Goldilocks and the Three Bears: After holding the benchmark short-term interest rate near zero for the past six years, the Federal Reserve continually takes our nation’s economic temperature to ensure it is not too hot and not too cold, and then based upon
Read moreLessons Learned: Riding the Wave
Mini-Storage Messenger – May 15, 2016 As we roll into the spring and summer months, the self-storage sector is enjoying a rising tide of market factors all working to the benefit of owners. Like surfers who dream of waking up to perfect ocean conditions every day, the storage industry is currently riding a seemingly continual
Read moreCrowdfunding: Trendy Buzzword or Storage Industry Game Changer?
Texas SSA Magazine – April 14, 2016 This month’s magazine focuses on Game Changers and new options for thinking differently about owning and operating self-storage properties. Crowdfunding certainly has people thinking about new ways of raising money and investing in our Internet-connected world. However, many still draw a blank stare when the word is mentioned.
Read moreA bird in the hand is worth two in the bush… or is it???
Mini-Storage Messenger – February 15, 2017 We all have been in various situations where we have been in a bit of a winning position, and have had the chance to quit while we’re ahead. Whether it’s having more chips than you started with in a friendly (or not so friendly) poker game, a stock pick
Read moreLessons Learned: Examining the Past to Start the New Year
Mini-Storage Messenger – February 14, 2016 Editor’s Note: In this inaugural quarterly series of articles, self-storage mortgage broker Neal Gussis offers market observations and lessons storage owners can learn as they consider their property financing options. Regardless of whether you own properties that don’t experience harsh winter weather, or you’re dealing with Mother Nature’s rougher
Read moreMake-or-Break Time: Preparing a Loan Request Package
Inside Self Storage – January 14, 2016 Making a positive contribution to your bottom line can come from many sources, such as implementing better revenue management, offering additional services and retail products, and improving collections, to name just a few. But beyond these income sources, there’s also a crucial make-or-break moment when you submit a
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