Exploring Our Newest Acquisition in Houston, Texas | Self-Storage Insights with Luke

Hey, guys! In this video, I'm excited to show you our latest acquisition in Kingwood, Texas. I invited my friend Luke, who owns several facilities in the Houston area, to join me and share some insights about the market here. This property is 80,000 square feet, featuring office suites and warehouse spaces with bay doors and storefront offices. We also have climate-controlled buildings and outdoor drive-up units.

During our visit, we met long-time tenants and organized a Customer Appreciation Day to introduce ourselves and share our plans for the property. We're focused on enhancing security with high-quality cameras and reducing expenses by replacing the overnight guard. The existing office units have great value, and we're exploring the potential to increase rents over time.

The occupancy rate is impressive, with only two currently available out of 31 office units. We'll evaluate the vacant units' condition and adjust rental prices accordingly. We're also keeping the experienced on-site maintenance staff to ensure smooth operations.

Luke and I discussed various strategies, such as expanding covered parking, introducing reflectors and flags to enhance parking guidance, and exploring triple-net leases for certain units. We even discussed the importance of fighting property taxes and the benefits of being part of a supportive community.

If you're interested in self-storage and creative financing, check out our community, Creative Investor. I've included a link in the description where you can learn more. And don't forget to follow Luke on Facebook and Instagram at lukewarm2000.

Thanks for watching, and stay tuned for more updates on our self-storage journey!

Timecodes
0:00 Video Overview
0:28 Reviewing the Units
17:36 Real-Life Tips

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