Closed on a small value-add storage facility last week. There are LOTS of people that talk storage on this app, but thought I would do a few updates on the initial action items after acquiring a facility that is operating well below potential.
Real Quick here are the specs:
Real Quick here are the specs:
76 Units
40% Occupied
No Website
No Sign
No Security
No Lights
No Leases
Low Rents
25 Abandoned Units
None of this is complicated, but there are a lot of moving parts. And I promised my family I would be "chill" (#summer) and not obsess over how fast I can get this done.
40% Occupied
No Website
No Sign
No Security
No Lights
No Leases
Low Rents
25 Abandoned Units
None of this is complicated, but there are a lot of moving parts. And I promised my family I would be "chill" (#summer) and not obsess over how fast I can get this done.
Week One
Lots to do on-site, but first and foremost. Get power switched to my account so I can:
A) Get my own meter
B) Put a work order in for power company to estimate on placing LED lights out there.
TEN(!) phone calls later, meter base inspected by county and new meter in.
Lots to do on-site, but first and foremost. Get power switched to my account so I can:
A) Get my own meter
B) Put a work order in for power company to estimate on placing LED lights out there.
TEN(!) phone calls later, meter base inspected by county and new meter in.
Need to build out the "brains" of the facility on-site. This includes WIFI and a gate cloud access that integrates w/software.
But first the gate operator needs to be replaced. It technically works, but is so old no one will repair it when it goes down.
Order new motor.
But first the gate operator needs to be replaced. It technically works, but is so old no one will repair it when it goes down.
Order new motor.
OnSite "control center" consist of:
2 4x4 posts with 2x4 crossbars
1 24" wide fiberglass box
Bolts, rubber washers, nuts
Run cable, power, 22/6 wire through conduit to box
Box holds:
Outlet
UPS surge protect
WIFI router
PDK Cloud Access
h/t @jeffreyrasco for this setup
2 4x4 posts with 2x4 crossbars
1 24" wide fiberglass box
Bolts, rubber washers, nuts
Run cable, power, 22/6 wire through conduit to box
Box holds:
Outlet
UPS surge protect
WIFI router
PDK Cloud Access
h/t @jeffreyrasco for this setup
@jeffreyrasco OnSite (cont)
Swap out old owner's locks for Davinci locks
Start opening up abandoned units and take pictures for auction
Several units new repair from a break-in, determine what materials are needed for this.
Audit bolt slides and rollup doors
Swap out old owner's locks for Davinci locks
Start opening up abandoned units and take pictures for auction
Several units new repair from a break-in, determine what materials are needed for this.
Audit bolt slides and rollup doors
@jeffreyrasco The onsite items are just half of the battle, back at the computer we are working on the online portion. This includes setting up:
Operating account (bank)
Easy Storage Solutions website
Integrate Davinci locks, StorageFox & SafeLease
Upload customer data (what v.little we have)
Operating account (bank)
Easy Storage Solutions website
Integrate Davinci locks, StorageFox & SafeLease
Upload customer data (what v.little we have)
@jeffreyrasco I am excited to dig into week two. This week:
Get customer contact info to inform of acquisition
New signs up
Have maintenance set up "control center"
New gate operator installed
Google ads setup
and more!
Get customer contact info to inform of acquisition
New signs up
Have maintenance set up "control center"
New gate operator installed
Google ads setup
and more!
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