355. How to Make Self Storage Offers Sellers Actually Accept (LOI Breakdown)
You’re inches away from buying your first self storage facility. This is where 99% of new investors get stuck. They run the numbers, come up with an offer that works, and…freeze. They wait too long to send the offer, get too nervous, and weeks later see that same facility sold for even less than they were offering.
Get out of your own way—this is how you make an offer on your first self storage facility.
Conner and George have analyzed thousands of facilities and helped craft hundreds of offers. Today, they’re sharing the step-by-step breakdown of how you can do the same so your offer gets accepted, you get in the game, and you’re a step closer to building your self storage portfolio.
We’ll help you get over the hump and write your first LOI, show you the quick deal analysis format we follow to make (accurate) offers ASAP, share the one thing that we ask a seller for with every LOI we send in, and figure out what a “good” deal looks like so you can jump on it when you see it.
Your first self storage investment is closer than you think—this breakdown will help you get to it.
What you’ll learn in today’s show:
- How to write an LOI that shows the seller you’re serious
- The “quick” deal analysis you can perform to screen any potential facilities coming your way
- SSI’s new challenge to get your first accepted offer in a month (or less)
- The expense ratio we use when quickly analyzing self storage facilities to see if they’ll work
- The contacts you need in your network to confirm the deal you’re buying will profit
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📑 How to Analyze a Self Storage Facility (Beginners Start Here!): https://www.selfstorageincome.com/podcasts/self-storage-income-2/episodes/2149212108
👥 Schedule a 1-on-1 Coaching Call with Conner: https://www.selfstorageincome.com/coaching?el=pc-ep355
📊 TractIQ: https://tractiq.com/
🌳 Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/
Get our FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment:https://www.selfstorageincome.com/start-podcast?el=pc-ep355
