Advisory Services

See the forest for the trees.

Self Storage Development Feasibility

As the leader in Self Storage Business Consulting, Get It Right Financial specializes in helping current and prospective self storage owners “get it right” when it comes to making critical financial decisions regarding their self storage investment.

A financial feasibility analysis should answer several questions for the prospective developer including, at a high level,  the following:

  1. What is a reasonable projection for revenues, including all of it’s subcomponents (ie: rental income, move-in discounts, bad debt, late fee income, admin fee income, …) on a monthly and annual basis during the first 5 to 7 years.
  2. What is a reasonable projection for expenses, including all of it’s subcomponents (ie: payroll, management fee, utility cost, credit card fees, property tax expense, …) on a monthly and annual basis during the first 5 to 7 years.
  3. What is a reasonable projection of value for my property at C of O and at Stabilization?
  4. How does that value compare with my cost to develop including the cost or value of the land?
  5. Given the return metrics that are relevant to the developer, how do pro-forma returns for this development project compare to desired returns?

In order for revenue projections to be reasonable, one needs to have an appropriate unit mix for the market. Many a developer has gotten into trouble by building a unit mix with too many 5 x 5’s, too many upstairs units,…

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Valuation

Having valued several $billion of self storage assets, and having acquired over $500mm of self storage assets for 2 Public Companies and 1 private company, we are uniquely qualified to provide you with an independent look at the value of your property.

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Getting it Right

Wasatch Storage Partners offers advisory services through Get It Right Financial, LLC, an affiliate of Wasatch Storage Partners.

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