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STN 56 | Funding For Self Storage
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Finding Funding For Self-Storage Deals

STN 56 | Funding For Self Storage

 

Finding funding for self-storage deals is a unique challenge. Not only do you have to convince the bank that your business model will work, but you also need to convince them that you’re a good risk. It’s not easy! But it can be done. In this episode, Stacy Rossetti shares the best techniques and strategies for finding funding for self-storage deals. Stacy touches on the stages you need to get through, the connections you need to make, the models you have to follow, and more! Tune in now and learn how to find funding sources that are right for your business and your needs.

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Finding Funding For Self-Storage Deals

This is the Monday night session where I teach every Monday night something new about self-storage investing. I got a couple of people that message and they’re like, “You only spoke about one topic of self-storage investing. How am I going to learn how to invest in self-storage?” You come here every Monday night and you will get a good roundabout idea of how self-storage investing works. You cannot learn how to invest in self-storage in one hour. You can’t learn everything. It doesn’t work like that. If you truly want to learn how to invest in self-storage, I highly recommend that you show up every Monday night.

The Word Of The Year Is Execution

On the first Monday of every session, I do Self-Storage 101. The next Monday would be find them. The next Monday is fund them. The next Monday is run them, which is the three-step process that I teach. If you buy my course, it’ll go through those steps. In my course, we have what’s called Stacy’s Six Step System. It takes you through these processes. How do you find them? How do you fund them? How do you run them? Six Step System is the course. Here on Monday nights, I teach for free. Anybody that wants me to babble on about storage investing, I will get you through the process but you got to read.

I can’t teach everything in one hour. Though I can help you to get an idea of everything that you need to be doing over the course of the next couple of months to get something under contract. I’ve talked to a lot of people about investing in self-storage and some of them are interested in learning how it works and if this is the right thing or not. Some people are like, “I know that storage is the way that I want to go.”

It’s interesting for me to see because the storage industry is not big. If you think about it, there are 50,000 to 60,000 storage facilities in the United States. Out of 50,000, half are owned by either REITs or big box companies that we little people can’t compete with. Most of the time, these big boxes are going to be in the primary market. Half of them are owned by bigger players. These are all $3 million-plus facilities.

There are only 25,000 storage facilities in the country that we little people have a chance of purchasing if ever. Those are secondary and tertiary markets. Tertiary means country. There are 25,000 facilities in the country that we can buy. Out of those 25,000, half of those are owned by mom-and-pop. They own more than one facility. Maybe 10,000 of those own 2 or more facilities. I have thirteen. The other half is one owner. Either we’re reaching out to either one of those, it doesn’t matter. For instance, I have 13 facilities and we’re going to sell 3 in 2023. Even though we have a lot of facilities, you would still want to talk to somebody like me. The truth is nobody ever contacts me. My students ask me if I’ll sell facilities but no random person ever asks me if I want to sell my facilities.

People are thinking too. I teach you to go directly to the owner. People are like, “What’s the competition? Is there too much competition and stuff?” It’s true. There are not a lot of storage facilities. There might be 25,000 storage facilities that all of us can talk to the owners about and see if they want to sell. Nobody ever asks us if we want to sell our facilities. Every once in a while, I’ll get a letter in the mail. Bonnie, our Operation Manager that manages all of our facilities and stuff, gets the mail and checks it. If there’s something like, “I’m trying to buy your property,” she always sends and gives those to me.

Every once in a while, we’ll get a letter like that in the mail. I never ever call anybody back on letters. I’m not that type of person. Every once in a while, somebody will call and say they’re interested in purchasing whichever facility it is. We’ve got thirteen of them. I’d say maybe once or twice a year and that’s it if you’re thinking in terms of how much competition there is. The point of this whole conversation is that a lot of people are very interested in self-storage but there is a very few that take action, do something and say, “I am going to buy a sales storage facility now and will do whatever it takes to own a storage facility.”

I tell my students all the time that my word of the year is execution. If you want to own storage, then what I teach you over the course of coming to the Mondays, buying the course or joining StorageNerds, you have to implement this because you have to take action. They’re like, “How are you so successful, Stacy?” I execute everything that I’m telling you. I’m doing it all. I cannot teach you how to do everything in one hour but I can teach you how to do it if you show up, listen and execute. My question to you is, are you one of those small groups of people that is going to do it? It’s a very small niche of people. It’s not a lot of us. The storage community is very small.

I know a lot of people in this community, honestly. The ones that are doing it, I know them. You have to ask yourself, do you want to be a part of that? Are you being called to that? What I wanted to talk in this episode about is what you should be executing. I want to give you a bigger picture. It’s the week of funding for find, fund and run. I’m going to get into some funding as well. I’ve been talking to so many people interested in StorageNerds and I’ve been going over the four stages of investing in self-storage. I figured I would do that also this time as well. That way, you had an overall picture and then we’ll get into some funding stuff as well because a lot of people do ask about money.

It’s funny because we have the application for StorageNerds and one of the questions on the application is, what is your biggest challenge? What’s the challenge that you’re having to move forward to be able to do this? I would say 80% of all the applications are finding and funding. How do you find these? How do you know if they’re a good deal? How do you fund them? Stacy, how do you own thirteen storage facilities? Those are the big three questions. The funniest thing is of all four stages, when you buy storage, the most important thing is how you manage the facility because you are buying a business.

Even though it’s an investment and everything is real estate investing, it’s a business. You have retail customers. You have customer service and tenants. You have to deal with all that. You do need to be treating it like a business. You need to have a P&L and a balance sheet. For every facility that I’ve ever bought, none of the owners had a P&L or a balance sheet. How you manage your facility and how good you are at managing it is going to create how much money you’re going to make. Commercial real estate is based on the income that the asset is making. This is a value add for asset-based lending.

Finding Self-Storage

On all of the applications that we had, there’s not one person that said, “I am concerned about how to manage these things.” It’s always, “How do you find and fund them?” The truth is the management stage is the most important. Keep that in mind. We’re going to get into the four stages of investing in self-storage. I’ll walk you through those so you have a broader idea of how it works. Stage one is finding them. You find them. You need to be building your list.

Remember, the way that I teach is you need to be going directly to the owners. There are a lot of storage facilities for sale. If you go to Crexi, you will see a lot of storage facilities for sale. Maybe there are a couple of good awesome ones or great ones in that bunch. You have to weed through all 700 of those. Call all the realtors and get all the information so you can run the numbers. Honestly, there are typically only 200 facilities that are for sale. Over the last several years that I’ve been doing this, I’ve only ever seen 200 to 250 storage facilities for sale. In 2022, everybody wants to sell their storage facility. It’s so weird. That shows you how the market is as well too.

There are going to be a lot of good opportunities this 2023. I teach to go directly to the owner because you can get okay deals on Crexi but you can get great deals by going to the owner. That’s how I teach. You can take all the skills that you learn through everything that I teach and go into Crexi. It’s the same thing. What I teach is to build a list of owners and then call them. Those are the first two steps of stage one. You then need to learn deal analysis. Deal analysis is not that difficult if you have a good spreadsheet and a way to analyze things. The concepts of cash on cash return, ROI, cap rates and this kind of stuff, you need to understand.

STN 56 | Funding For Self Storage
Funding For Self Storage: There’s going to be a lot of really good opportunities this year, but you can always create much better deals by going directly to the owner.

 

You need to understand commercial deal analysis. If you do not understand commercial deal analysis, honestly, this will be something that takes time to practice. If you have a good spreadsheet or something that you can use to run numbers on, it isn’t that difficult. This is the finding and the deal analysis. How do I know if it’s a good deal? Stage one, I already got those covered. There are still three other stages. Think about that. Finding is stage one. Inside stage one is also deal analysis. Deal analysis is also included in finding them. You’re building, creating a list of owners and then calling those owners.

I went over the scripts. When you call the owners, what do you say? Deal analysis is getting the right spreadsheet to use to run the numbers and understanding the terms of commercial deal analysis. You can get my spreadsheet if you want, my deal analyzer. You can join coaching at StorageNerds and get that or somewhere else. You need something to run a deal analysis. That reminds me. I talked to a guy once and he set up a consultation with me and was like, “I want to know if my storage facility is a good deal.” He had bought this storage facility and did not even know if it was a good deal or not.

The reason he bought it is that the owner offered owner financing. Owner financing is not always a good deal. You have the numbers you have to work. He bought the facility for $1.4 million. He gave me all the information, what he was making and everything. I ran the numbers and came up with a valuation of $1.2 million. He had overpaid by $200,000 for that facility. He was over-financing. It was 0% down. He was like, “I just took it.” I said, “You have a facility that’s worth $1.2 million and you bought it for $1.4 million. What that means is that you need to raise the rents and have to hold onto this property.”

That was pre-COVID. It’s worthwhile because rates went up and stuff but he was down at $200,000. Building list, calling owners, deal analysis, making the offer, negotiating and then getting an under contract. You build and create your list of owners and then call them. You get all the information that you need, run a deal analysis and then make the offer based on the deal analysis. You negotiate that offer and then get it under contract. That is stage one. The goal of stage one is to get the facility under contract. Remember, there are four stages.

Inside the coaching program, this for us is 90 to 120 days. It’s going to take that long to get it under contract and that’s if you are executing and taking action, building a list, calling and running deal analysis. Running a deal analysis to get everything that you need from the owner takes a lot of work, effort and time because then you have to always get on top of the owner. This is 90 to 120 days if you’re taking action and looking for deals. Everybody has their journey and path. If you’re doing this a couple of hours a week, it may take longer than somebody’s doing it 20 to 30 hours a week full-time.

That’s one of the questions I have on the application, “How much time do you have to do this?” If you only have half a day once a week, it’s going to take a lot longer than if you can be like, “I’m all in. I’m here.” It’s like, “I lost my job and moving on to storage.” That’s 90 to 120 days. The goal is to get it under contract. Making an offer is easy because you have to put the offer together but make the offer. Negotiation is very important. This is what we went over in the scripts last time.

Funding And Onboarding

I went over calling owners to see if they want to get an offer. After you put in the offer, what do you say to the owner to get them to want to work with you? It’s two different types of scripts. It’s those scripts you get in StorageNerds in the coaching program. We finally got something under contract. You’re moving on to stage two. Stage two is funding and onboarding. These are two different things. In stage one, if you joined the coaching program, we have a boot camp on February 4th and 5th, 2023. Only students can come to my boot camps. If you’re interested, we have a boot camp. My boot camps are all based on the find them, fund them and run them.

Stage two is funding and onboarding. You have an under contract so get out there and start talking to lenders. I’ll make a list of all the things that you can do but know that commercial real estate is asset-based lending. Most lenders from banks are going to look at how much money is this asset making. That’s what they’re going to value the property at. For funding, you can go to SBA and local banks. These are nationwide banks. They’re going to want P&Ls, balance sheets and stuff like this.

SBA does projected-based lending. It means that it could make this much but it’s not making that much now. You have to do a whole bunch of BS and create this whole package or visual of why should SBA give you this money because it’s not making that much. I know that because we’re going through this on one of our deals. Also, you can ask, “Do I need to syndicate this? Is it a large deal that I should be syndicating or not?” You could do partners. “Should I partner with this deal? Should I do something like that?” You could find private money. Can you find somebody to lend you the money to purchase it? That’s something that we do that you can do.

You can do a fund, your own money or cash. Here are some of the different ways that you can fund your deal. Funding for us, in the boot camp and the coaching program, is in May 2023. Run them, the management part is in September 2023. That’s how we’re going to do our StorageNerds stuff. We’ll do two full days of how you can find the money for your deals. I forgot to put owner financing. It’s so funny, one of my students is buying a facility subject to. Another one of my students is buying the facility as a contract for deed, which means a wraparound mortgage. These are all things that we get you into the coaching program. Just so you know, these are all the ways that you can find and we will talk about that in the boot camp.

You have an under contract and you got to find money to close the deal. The goal of stage two is to close the property. Are you going to buy it? You got to find the funding for it. It’s not residential. You can’t go and get pre-approved. You have to have the asset, take it to the bank and then they look at it. That’s why you have to do it in the onboarding stage. We called this the onboarding stage. The goal of onboarding is to be able to take payments on day one after you close the property.

STN 56 | Funding For Self Storage
Funding For Self Storage: To close the property, you have to find the funding for it. You have to have the asset and then take it to the bank, and then they look at it.

 

You have to be able to take payments on day one of owning the property. A lot of them don’t think about that but you need to be able to take payments. If you don’t do the onboarding process until after you close, this process right here could take 1 to 2 months. This is getting your software up and running, getting your website, all your marketing stuff, your phones and all this stuff ready. If you don’t do that before, then you are screwing yourself over. Within that first week that you close on a property, you want to be able to close and take payments.

We go over this in the running boot camp. We have an onboarding checklist that we give to all the students and then they go through. It’s the onboarding checklist that we used internally. My husband created it because there’s so much stuff. There are 50 items on that list, all this stuff that you have to do. The main thing is being able to take payments and you want to get your software set up. The software in the onboarding process could take 1 or 2 months, depending on which one you use. You want to get this started ASAP. As soon as you get it under contract, you start going out and looking at all the software, picking the one, start focusing on that one and getting that set up. That’s stage two.

Transfer Ownership

Someone asked, “Is there a minimum credit score you need to have?” They look at your credit score. It’s 630 or something like that. Credit is important but it’s not the most important thing about the deal. How much of a risk the bank has to take with the risk with you but also the risk with the asset itself is the key. We have stage three. You bought a storage facility. Now, what? That’s the question. You’re getting into what we call transfer ownership. The stages are going to be different. This is if you’re going to buy either a mismanaged facility or an income-producing property.

Funding is how much of a risk does the bank have to take with the risk with you and the asset itself. Click To Tweet

One day, I could do the stages of building as well too. Philip is part of our coaching program. He’s one of our students who owns a storage facility and also works for a company that builds self-storage. He is going to come and talk about the industry and what’s happening in the mastermind for the coaching program. If you’re interested, I highly recommend it. It’s amazing people in the group. Transfer ownership is the next stage. That means that somebody owned it and now you own it. This is where you have your software. Your software, whichever one you choose, is the backbone of your facility.

Your software is your property management software. Every software is a little bit different. Some of them are more expensive than others and some are more robust than others. You get what you pay for. The truth is setting up this software so that you’re utilizing all it has to offer, which is the best way to manage your facility and also create passive income. In this stage here, you’re moving your tenants over. You’re having to get the contract signed. You have to get them to get into their account and set it up. You’re having to get them to set up the payment information because this stuff does not transfer over.

When you buy your software, the payment information’s not going to come over from the old person to this one. Remember, I forgot to put this down right here too but these stages are all about 90 to 120 days. This is 3 to 4 months. It takes a long time to close a deal and commercial real estate. I have one student that’s buying cash, a property that’s $700,000. She’s putting in $300,000 or $400,000 and her mother’s coming in and putting in $300,000 or $400,000. She’s like, “I got the cash.” She’s closing in a month because the owner wanted to close in a month.

She’s going crazy trying to get everything done. It’s nuts. You want to give yourself 90 to 120 days to get all this done because it’s super stressful if you’re doing it in 30 days. Stage three is the same thing. We’re doing 90 to 120 days. We’re already 3/4 at the end of the year. It takes time to do these things. This is not like, “I’m going to do 3 deals in 1 year.” Slow and steady wins the race. I always tell this to all my students, even my daughter. That’s the theme in our house.

Slow and steady always wins the race. Click To Tweet

You’ve onboarded the software. The software’s there but there’s nothing in the software. You have to put the tenants into the software, get your contract in the software, get them to sign the contract and get the payments done. You’re working on things like getting some basic pricing and communication in there because your software does all the emails, text messages and all those stuff so you want, something to welcome them. You have to get all that set up. You’ve got to get your fees and rules set up. On the 1st rent, it’s due and on the 4th, rent is late. It’s $10 and then on the 8th, we’re going to overlap so it’s another $25. All these rules that you have to do, you have to set those up.

During these 90 days of you owning this property, you’re running around like a crazy person, chasing people, getting them to sign the contracts and trying to get them into the software and learning the software. When you start a new software, it’s like a learning curve, especially software that’s super robust and stuff. Eighty percent of all storage facility owners do the bare minimum in the software. They put the tenants in and then that’s it. The truth is if you get into that software and you learn everything that has to do, you can automate everything.

Systematizing And Automating

This stage right here is getting the tenants into the system, getting the contract signed and getting the basics stuff. You’re like, “Let me start setting up the foundation of my business so that I could copy this over when I buy my next 1 or 2 facilities.” That’s what this is. After 90 to 120 days, you’re like, “I feel like I can breathe. I’ve got most of my contracts signed. Let me move on to the next stage.” You then move on to the next stage which is stage four. Stage four is automation and systems. This is systematizing and automating everything. This is what’s going to create passive income.

This is when you start getting into your software and you’re like, “I need to set up my revenue management, get in and do my dynamic pricing, get my fee schedule set up and get my communication set up better. I got to get my email and my text messages set up.” For instance, rent is due on the 1st. If they’re late on the 4th, they’ll get an email and a text message and they’ll get charged $10. You have to set all these rules up inside the software and everything. There’s so much more, honestly, like online options. Nobody needs to do anything in person anymore. You can set online options up in certain software.

You can do mailings, your mail house. If you need to mail letters for any reason, some software will do that. You could set automatic letters to go out for price increases or owner transfers so you could set all this up. There are a lot of ways for you to automate the software. Most owners do not do this. This is how you’re going to create the passive income, get into the software and learn how to do this. This is what we do in our boot camp. We have our boot camp in September 2023 and it’s run them, which is the management and the onboarding, getting into stages 2, 3 and 4. That’s what it is.

That’s the four stages of investing in self-storage. What I wanted to do here is go into how the coaching works. This is how we do it. You all could check to see. The first thing that you do when you sign up for StorageNerds is to get access to Super Simple Self-Storage. This is the course access. You could buy that separately if you want. You could DIY too. If you decided to join the coaching program, then that would be a bonus. This becomes your curriculum and you can go through that. The best thing is that you have access to the mastermind because the mastermind is where the community comes together.

You get to meet everybody in the coaching program. Everybody in the coaching program has one goal and that’s to buy storage facilities and own them. You get to be around people like me and hear from them. Also, in the coaching program, we have what’s called student showcases in the mastermind. Student showcase is where the student comes during the mastermind and talks about the facility that they bought, how did they find it, fund it and run it. You can hear from everybody in the coaching program.

In the last quarter of 2022, we had seven students buy a storage facility. Over the course of the next couple of months, everyone gets to hear about how they went through all four of those stages. You can hear how everybody’s doing it. I love the student showcases. They’re so good. That’s the best part. Everybody loves the student showcases because you get to hear how everybody’s doing stuff, not just me. Everybody gets tired of me teaching all the time. I make everybody else teach.

That’s another thing too. For instance, Philip. As I’ve told you, he’s part of the group that owns a storage facility and works for a company that builds storage. I tell him, “You have to come on and tell everybody the process and what’s going on in the industry. Give us the process of how to build a storage facility.” He would be considered a student showcase. He’s like, “I want to do that.”

He’ll come on and talk for an hour about all things like how to build self-storage. It’s coming from somebody not only in the group but also who has experience doing that. This is where we have the best. The guest speakers come in as well too. We meet on the 1st and 3rd Tuesdays of the month. That’s when we have our masterminds. We had this woman, her name is Catherine, come in. She’s very well-known in the industry and knows everybody. She does feasibility studies. She came in and took the entire group through how she does her feasibility study.

A feasibility study if anybody doesn’t know is like, “I want to either build, add on or expand my facility.” You typically don’t do a feasibility study if you’re buying a mismanaged facility or an income-producing property. You typically do a feasibility study if you’re building, wanting to expand or going to do a conversion. That’s what she does. She also owns four storage facilities. She came on and went through her entire process of how she does the feasibility study so that we could not only hear from her about how she does it but also do it ourselves. She said, “This is exactly what I do. This is everything that goes into my feasibility study. You all can do it yourself or pay me if you want. Essentially, you could do this yourself. This is all the stuff that we do.”

That’s what our guest speakers are. We have awesome. We have lenders and builders. We have software demos. That’s one of the cool things that I love about the mastermind. We also talk about wins and challenges. You can hear what people are working on like, “I called five owners this week. I talked to one and he’s interested in getting an offer. I’m having a hard time with the scripts on the phone. What can I do to improve myself? I’m not getting everything on my onboarding checklist done in time. I feel like I’m being rushed.” It was one of the things that came up. That’s the stuff that you hear and then we work through that stuff.

Also, we have the boot camps I told you about. I did find, fund and run. Pete is my husband. He’s the one that manages the thirteen facilities that we have. I do find them, fund them and run them. That’s how it always is every year. This is where we take you to step by step through all the processes. It’s a two-day boot camp. Remember, I’m teaching every 90 to 120 days. You should be moving from one stage to the other. You get in and then come to the find them boot camp.

Over the course of the next 90 to 120 days, you’re like, “I’m out there looking.” The goal is by May 2023 to get it under contract so that you’ll be ready for the fund them boot camp and it’d be all about money. You then go onto the run and then you can learn about management and stuff. All these are recorded so if you miss them, you can watch them too.

We then have the one-on-one coaching calls. This is where you can talk to either me or Pete. We are both available. You can do as many coaching calls as you want. Pete is run them and I find them and fund them. We’re available for you to hop onto a session and be like, “What do I do? Is this a good deal? How should I do this? What should I say?” That’s what the one-on-one is. We’re there to hold you accountable but we’re there to keep you moving forward as well too.

We also have infield training games. This is the only live session. I forgot to tell you all that these are all virtual. This live session is the one time you can come hang out with Stacy and Pete for the day. We fly into Atlanta and then you can go to some of our storage facilities. We drive for storage. You get to meet the community. You also get to see how we manage our facilities. How do we do due diligence? How do you look at facilities? How does Pete manage all the stuff? How do we do the trash or the lockouts and stuff like this? That’s the infield training. It’s a super fun day, a full day hanging out, spending time with each other, networking and stuff.

We do those three times a year. You could do those as many times as you want. Hang out with us anytime. Finally, we have the portal where you have your documents, checklists, contracts, systems and anything that you could think of that you need. Also, the replays of all the Monday night sessions that the students get access to. You have access to the scripts in the Monday night session. Also, the boot camps are all there. This is all since I started coaching. It was there for several years. You could go into the portal and type auctions and there’s training, checklists, all kinds of spreadsheets and stuff that you want. You could type in private lenders or lenders or all funding and stuff come up. That’s the coaching.

These are the six ways that we teach the four stages. Over the course of 2024, you will be going through all four of those stages and then learning and being educated by these channels. Finally, I wanted to get into the pricing so you all know. Everybody’s asking, “What is the price?” It’s not a secret. It’s on every single email that we’ve been sending out. I get that it’s an investment. Coaching and all the work that I might do, teaching and helping everybody, is a lot of work. Aariellynn does a lot of work. She’s our Community Manager.

It costs money to do stuff. It’s $1,000 a month and a 6-month commitment. Thereafter, it’s $1,000 each month. After that, you can stay in as long as you want each month. You commit to me over the course of the next six months. “Stacy, I will be coachable. I will execute everything that you say. I will get out there. I will look for deals and call owners.” I’m going to get Michael to get something under a contract and close. I will commit to helping you, holding your hand and making sure that you go through this process and be there to lean on whenever you need help. That’s the commitment.

You can do what’s called legacy membership, which means lifetime membership. As long as StorageNerds is around, you can be a StorageNerd. The goal for 2024 is one facility. You see my stages. This is not like buying three facilities. I had one student buy three facilities in 2022, which is awesome. I talked to him in the first week of January 2023. I was like, “How are you doing? How was 2022?” He’s like, “I’m finally feeling like I’m not so stressed out anymore. I was so stressed out in 2022. I bought too many storage facilities.” I was like, “I told you.” Only buy one. One is good because you’re learning.

I bought 1 in my 1st year. I only bought 1 in my 2nd year. In my 3rd year, I bought 3. We’re on track to buy 1 in a quarter so we’ve been buying 1 a quarter. In the first couple of years with those four stages, it’s going to take you a while to get through and understand those. Every time that you go through those stages, it gets easier and easier. Students that are in the program for 3 years have 4 facilities. They’re buying 4, 5 and 6. Matt is number five under contract. He hasn’t even been in three years. Paul is buying his fifth. He’s even started a fund. He’s like, “I’m doing a fund, Stacy. I’m like you.”

STN 56 | Funding For Self Storage
Funding For Self Storage: The first couple of years are going to take you a while to get through and understand everything. And then, after you go through those stages, it just gets easier and easier.

 

You have to give yourself that year to figure it out. After that, it gets faster. The legacy membership is a lifetime in StorageNerds. This is $15,000. It’s a one-time fee. You could do 2 payments or 1. This does not add up to this. You can’t pay $6,000 and then go, “I want to upgrade to legacy.” Legacy membership, no matter when you upgrade will always be $15,000. We have 80 students. I’m taking about twenty students every time we open the doors. I have maybe 85 students. Out of those 85, 58 of them are legacy members. They either joined immediately or after a couple of months, they switched over or when they bought it, they’re like, “I’m getting a facility. Let me switch over.” Every time, it’s always $15 now or later.

That goes to show that there are a lot of people that get into the coaching program and they switch over and become legacy as well too because they’re buying or they know, “This is something that I do want to do.” You can always do $1,000 a month and then later do $15,000 if you want to. I wanted to show that to you all because I’ve been doing all those pitches and I was like, “I never ever on a Monday got up and talked about how the coaching works.” I figured I would do it this time and then we’ll be able to have the video as well too to share with everybody. This is how coaching works. If you’re interested, then you have to go to StorageNerds.com.

There are a lot of people that get into the coaching program, and they just switch over and become legacy. Because they know that this is something they want to do. Click To Tweet

Fill out the application. Based on what you fill out, if you get through the application process, you’ll get access to my calendar. I only have two days available for calls. We still have a couple more emails and text messages going. FYI on that. I forgot to tell you all. Another thing is that I only take twenty students and the doors close on January 27th, 2023. If you are interested, you got to decide to come on and hear me out. We can talk about it if it’s good for you or not.

I hope you enjoyed the four stages. At least, that gives you an idea of the overall process. I talked a little bit about the funding so you have an idea of how to fund everything as well. That is it for this episode. I’m going to jump off and go to my pitch in StacyRossetti.com/Fund. If you want to be a passive investor, then pop onto that and listen to my fund. I have two deals. I’m going to go over those two deals and show everybody how we’re raising money for those as well. I appreciate you hanging in there and I look forward to seeing you next Monday night. Take care.

 

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