INTERVIEW WITH KEVIN ROLLINGS, OWNER OF SELF STORAGE FACILITY MANAGEMENT LINDA PLIAGAS
numbers, along with the insecurities, kick in. They
throughout the country. They vary in size from
start chanting phrases like, “I don’t have that kind
small mom and pop facilities to mega storage, and
of down payment”, “I don’t know anything about
this is very beneficial for anyone looking to get into
storage”, and “I’d never get my facility paid off if it
this business. You can choose a facility that is the
is one million dollars”. Those are excuses to keep
right size for you and your comfort level. An 80 unit
away from success as far as I’m concerned.
facility can add a nice residual income and allow
Compared to any other commercial real estate,
you to position yourself to add more facilities. So
self storage is as affordable as any. The return is
yes, in self-storage, size is important but it needs to
usually positive quickly. There is a reason this type
be the size that makes you comfortable.
of property has seen steady growth even when the
market for residential and multi-family were hit by
Do you find that once investors enter the self
the decline in the economy.
storage arena they are hooked for life?
What kind of opportunities are there in this
Yes, most self-storage operators I know feel very
niche?
similar to how I feel; “Wow, why did it take me so
long to find this niche?” or “If I’d have only known
There are opportunities everywhere. Many self
storage owners have been in this for a while and
many are looking to retire. Others may not have
been mismanagement and other investors may
have treated the rewards from their investment
much like their personal bank.
You can find
facilities through numerous sources, online, private
listing, foreclosures and well, just about anywhere.
Anyway, there are a number of facilities for sale
more about this industry I would’ve never done the
residential headache”. I believe most people that
start off on the path down to self storage usually
stay there, happily.
Self-storage is generally not
considered your get rich quick with a flip property,
although, there are some that do flip them and do
that successfully. But, for me, it was the long term
investments I was looking for, to retire nicely and
live the dream.
What is the best way to get started in Self
Storage?
Getting into the business is easy, just listen to me!
No seriously, there are many avenues you could
choose from to get your start in the self-storage
business. As you, and most anyone, in the real
estate investment world knows, you can find a lot of
“experts” out there teaching one thing or another.