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Stacy Rossetti is an expert in acquiring and operating self-storage facilities. Currently, she owns and operates 6 facilities with over 500 units. In this episode we discuss everything from finding a self-storage facility to successfully implementing value-add strategies.

Helpful Links

More information about Stacy: https://bit.ly/32UfBZQ 

Bigger Pockets Book called  “Profit like the Pros” which features Stacy Rossetti:

https://amzn.to/3brjZ4W

Episode Highlights

• Fix and flips take a lot of time, energy, and money. Stacy’s deals average at least $50k each in renovation work.
  
  
• Be the first to get to the seller before any brokers do.
  
  
• Create your own market and contact storage facilities that aren’t online.
  
  
• Analyze the supply and demand of your local market. Depending on your market, typically the square foot per capita (per person) needs to be between 6 to 8 square feet or less. If it’s significantly more than 8 square feet per capita, it indicates that the market may be oversatured, which will lower your occupancy rate, and make it more difficult to operate your storage facility profitably.
  
  
• For mismanaged facilities, you’ll need to chase the tenants more because they’re accustomed to abusing the system and taking advantage of the owner. That’s why you must train your tenants to prevent them from walking all over you. 
  
  
• Focus on making enough to cover the mortgage on the property every month.
  
  
• The first 2 to 3 months after closing is the most time intensive time to stabilize a property.
  
  
• Use social media to post your personal wins and goals to build credibility with your network.

Best way to contact your host, Mason Klement:

mason@masonklement.com

https://www.masonklement.com/

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