Self-Storage Investing

This course teaches the underwriting and acquisition workflow that real storage buyers use, not generic real estate theory. You will normalize a seller's financials by stripping out personal expenses and adding back market management and insurance, calculate NOI and the going-in versus stabilized cap rate, model an SBA 7(a) or local-bank loan with DSCR, and build a value-add thesis from ECRI rate increases, tenant insurance attachment, and converting unrented square footage. You will assess a 3-mile and 5-mile trade area using square-feet-per-capita saturation, evaluate physical and economic occupancy separately, and write an LOI with the right contingencies. By the end you can pull a deal apart, decide whether the number makes sense, and know what you would do in the first 90 days of ownership.