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. Perseverence
5. Developing your Purpose