Avoid These Pitfalls in Self-Storage Investing - Expert Tips from Scott Meyers!

During the recent ISS Las Vegas World Expo, we had the opportunity to engage with industry experts, gaining insights into the current self-storage landscape; we spoke with Scott Meyers, who shared insights on the sector’s growth and challenges post-COVID-19. He highlighted the surge in interest from multifamily investors and private equity, emphasizing the need for proper education and due diligence in the business. Scott noted three major pitfalls for newcomers: a lack of realistic mindset, inadequate understanding of current underwriting models, and underestimating the ongoing management effort. He stressed the importance of solid financial analysis, continual monitoring, and disciplined operations to succeed in self-storage. Despite the industry’s potential, thorough preparation and commitment are essential for success.
#selfstoragefacility #selfstorageinvesting #selfstorage #storagemanagement