What software do you use to research/diligence deals? I’ve been using Yardi and Radius and was just referred to StorTrack. Have you heard of them? Thoughts? Nick Huber Cory Sylvester 📦 Ryan Auger // Industrial CRE Logan Zuber Chris Ramsey | SMB and R.E.

Facility 1 monthly update Feb 2023: - Slight SF occupancy increase - Flat asking rents - Slight in-place rent increase - Net Rev collected growth - Net Rev 40% higher than projections - Rentals slower than January Still cannot find Facility 2! #selfstorage #RETwit

Finally think I found #2! Going in at 15% below asking and numbers look great with conservative UW. Stay tuned. #selfstorage #REtwit

I didn’t get the deal I thought I was going to get. I came in 15% below asking. 2 people came 10-15% above asking. These are the people that ruin it for the rest of us! 🤦🏻‍♂️🤯 #selfstorage #RETwit

Been too busy to post March update: Record revenue up 37% since purchase SF occupancy down 4% MoM GPI up 3% MoM In-place rent PSF up 4% MoM Move ins holding steady Ready for the season! #RETwit #selfstorage

Finally got #2 under contract! About 3 months searching. It’s 4 hours away from my 1st in a much more premium market: 10x population, 2x income, 8 SF/capita, 98% occupied! Rates about 40% below market 😍 #selfstorage #RETwit

Put in offer for #3 yesterday after seller significantly lowered price. Seems like the market is starting to turn. Got first term sheet for #2: 60% LTV, 30 am, 6% fixed for 10 years, no PP, no IO #RETwit #selfstorage

Pains me to write this update :( •Gained occupancy but had fewer move in’s than last month (can’t wait for the season to start!). •In-place rent slightly lower - discounts are kicking in but these will burn off. •Net Revenue collected down 11%! 😭had some checks come in late

Insights from the Newmark SS Symposium just held in Houston: • Cautiously optimistic that fundamentals will pick up momentum heading into peak season • Worsening economic backdrop (elevated mortgage rates, low home sales activity, increasingly pressured consumer) • REIT

May was a good month. Record revenue and occupancy near all time highs. Still not seeing “the season” begin in my area but I definitely can’t complain. June is off to an OK start #RETwit #selfstorage

Just got the signed LOI for #3 and closing on #2 next Thursday. 🚀 Very excited but nervous. #selfstorage #RETwit

#1 is still performing nicely. Not that many move-ins though. I’m hopeful it’ll pick up soon. Officially closed on #2 today - very excited. Now it’s time to get to work! Still waiting on the PSA for #3 - starting to think the sellers are pulling out 🤦🏻‍♂️ Another great day in

#3 is finally under contract after a few weeks! #2 onboarding so far so good just taking a bit longer than expected #selfstorage #RETwit

First time going to #SSALasVegas! Advice from previous attendees is more than welcome #selfstorage #RETwit invt.io/1txbqw8o4ww

Debating whether to sponsor the following #selfstorage deal: 40% LTV 3.55% rate I/O until the end of 2031. Year 2 CoC is 7.5% Net levered IRR of 13% using a 6% exit cap rate but idea is to hold long term. Property is in a major MSA with good population growth, low supply, and

I’ve been quiet but busy: - acquired my 4th facility and got #5 under contract yesterday - submitted offer for #6 today which should double my portfolio in NRSF - migrated to StorEdge and implemented new website - acquisitions performing better than expected so far I’m seeing

The stupidest thing I ever did in my life was get involved with my HOA

UPDATE: Portfolio now consists of 9 properties totaling 191k NRSK and will develop about 20k extra in the next few months. This includes 1,694 units. $19.9M total AUM at cost. $8.5M of total debt. #selfstorage #RETwit