What a bad manager can do to youĪ bad manager can reduce your occupancy and destroy your collections. A good manager can result in a great sales price when you go to sell. A good manager can keep your value high, your appraisal on-track, and your loan approved. A good manager can keep your facility in excellent condition, and proactively manage your way around any liability. What a good manager can do for youĪ good manager can keep your occupancy high and your collections 100%. Yet many self-storage facility owners fail to grasp the importance of a good manager, or the necessity to retain them on your payroll. If there’s one member of your team that is vital to success with a self-storage facility, it’s the manager. Which would you rather have as collateral: 1) a self-storage facility or 2) shares of some company that you don’t even fully understand how they make any money? We think that all considerations point to the fact that the days of stocks and bonds are over. There’s also the old adage that “before there can be return on principal, there has to be return of principal” – which means that you have to make sure you can get your money back from your investment before the rate of return is even important. When you compare a 15% cash-on-cash return to a CD paying 1%, that’s 15 years of income in one year. To hit reasonable rates of return, you have to take the path less followed, and for many that’s investing in a self-storage facility. The truth is that there is no profit in today’s traditional investment options. This is a wake-up call for many investors who have always been taught that stocks and bonds are the safe way to attain high returns. The stock market has become so volatile that swings of several hundred points have become commonplace.
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