Self Storage Income 304. Appraisals 101: How to Value a Self Storage Facility (Step-by-Step) w/Tim Garey
Want to know how to value a self storage facility? Stick around and we’ll show you! In this episode, seasoned appraiser Tim Garey breaks down the entire valuation process—and shows you how to get the right valuation.
With more than twenty years of experience, Tim oversees a team of thirty appraisers nationwide at Cushman & Wakefield’s Self Storage Advisory Group. He has appraised all types of properties, from shopping centers and golf courses to industrial buildings and, of course, self storage facilities. In this episode, Tim will share how and why he got into the self storage industry before walking you through the entire appraisal process, step-by-step.
Whether you’re a buyer or seller, Tim offers all kinds of helpful tips for working with appraisers—like the types of information you need to provide to ensure that the process goes as smoothly as possible and why it’s in your best interest to build a relationship with your appraiser. But that’s not all. He’ll also share why ordering your own appraisal could hurt your deal, and why self storage has seen a recent influx of private money!
What you’ll learn in today’s show:
- How the self storage appraisal process works (step-by-step!)
- Why a property’s sale price and market value don’t always align
- What you must do to get the right valuation for your self storage facility
- Why more private money is moving into the self storage industry
- What you need to know before ordering your own appraisal
- Why it’s always in your best interest to cooperate with appraisers
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Email Tim: tim.garey@cushwake.com
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