Self Storage Review

Today’s modern metal storage buildings are no longer dilapidated backyard shacks. With construction innovation, your new storage structure can be as sophisticated as your home or business.
Metal buildings are usually made of steel and built in arch frame or rigid-frame style. Steel is a combination of iron and carbon. Carbon is added in varying amounts for strength. Steel is a practical building material because it is durable in all types of weather but still lightweight. It is an ideal material for storage buildings because it is also fire-resistant.
Arch framed buildings are a very simple construction of metal ribs, interlocked to form an arch, with paneled end walls. These are a quick and economic choice, but the semi-circle shape of the assembly limits storage. Rigid-frame has a steel skeleton framing with a paneled roof and walls.
Steel is a better alternative to wood storage buildings due to the durability. Steel is galvanized, so it won’t rust or rot. It is pest-proof and does not require treating for termites. Steel will not warp, expand, or settle. There is even optional insulation for added protection from the temperature. You can feel secure storing important documents and delicate items such as antiques in a steel building. Not to mention low maintenance and no painting required, and many metal building manufacturers issue warranties with their buildings, covering up to 25 years or longer.
Dozens of styles, colors, and sizes make choosing your steel building easy and fun. From simple construction to elaborate details, customize your metal building to meet your style and storage needs. Today’s steel construction is so advanced and attractive, you won’t want to call it a shed. Choose the custom size you need. Buildings can be small for garden tools and the lawn mower, or big enough for an airplane hangar.
There are many steel building kits for you to choose if you want to build it yourself. The kits make it easy to finish building in a weekend and save on labor costs. First, pour a simple foundation with materials found at your local hardware store. Next, bolt the precut pieces together and raise them to stand on the foundation. There are predrilled holes to make the process even easier. Finish by putting up the sides and door.
Metal storage buildings are a worthwhile investment. They cost roughly $17-35 per square foot, depending on the amount of detail. Self-storage units cost up from $65 to $325 per month, and may also charge a deposit and require insurance.
Before you purchase your metal storage building, learn the building codes in your area and comply with neighborhood association rules. Many people choose a general contractor or broker to ensure knowledge of local laws.
Lastly, get your deal and warranty in writing. After completing your new metal building, the final step is to put everything in it.

If you can involuntarily FREEZE YOURSELF TO DEATH AT NORMAL ROOM TEMPERATURE, you can voluntarily FEEL LIKE A BILLIONAIRE – WITHOUT A DIME IN YOUR POCKET!

To illustrate this point, here’s an article reported in the French newspaper Le Matin:

“A man was locked in by error in a cold storage room. Believing himself to be a prisoner of the cold, this man instantly felt its deadly effects – he froze up and became paralyzed. During his agony, he managed to find enough strength to write his impressions on the wall with a piece of chalk. When his body was discovered the next morning, it showed all the signs of a man frozen to death. This tragic accident turned out to be extraordinary when it was discovered that the electric generator of the storage room was out of order, and that therefore the man shouldn’t have died from cold. Yet, he killed himself… by the sheer force of his conviction”. Or illusion!

Here’s another scenario: John got fired on Monday. But last Friday (3 days ago), the president of a rival company had signed with a recruiter to hire John with a 50% increase in salary! Unfortunately, the recruiter fell ill over the weekend, and John will not be given the good news till a week later. Imagine how John is feeling today, tomorrow, and the day after. He already feels bad, his productivity drops, and he has a despondent expression all day long.

John, like the man who froze himself to death, is suffering from an illusion, an illusion that has nothing to do with actual reality. That is, he has a job offer in the works far superior to what he is presently earning. He should have a cheerful expression! But John has fallen victim to his own illusion, just like the man who killed himself in the storage room.

Now, if you can master illusion by switching from passive to active illusion, you will not only be able to create your own reality and feel like a billionaire, but also fully maximize your potential. Potential is not what you have done in the past, but what you are able to do in the future.

Passive illusions are all the past experiences recorded in our subconscious. If we think we can’t do anything or believe we can, we are dwelling within our passive illusions, as we are reacting subjectively to past experiences. Hence, we could have positive or negative passive illusions – depending on our experiences. If you are presently satisfied with yourself and manage to obtain what you want in life, you can still create active illusions.

Whenever we are in the process of doing something, like changing our behavior, going to a rendezvous, starting a project, or simply trying something new – we are using our active illusions. Once we have acquired these experiences – positive or negative – they form our body of passive illusions. You can therefore create whatever active illusion you desire – and test it. In other words, you are the producer, director, and actor of your own life. Whichever active illusion you create and put into action will be your reality, because you’ll be mentally and physically living it.

Why not trigger this active illusion for yourself: You own this world! You possess six billion pairs of hands, not just one pair! Think about this: When you’re enjoying a beautiful scenery from your train ride what but a pair of your hands is driving the train? What about your other hands who laid the rails so that the train could roll on it? And those other hands that worked to provide the scenery?

What about your favorite strawberry jam or orange juice on your breakfast table? They didn’t just happen to be there. Your other hands made it possible for you to enjoy. What about that great movie you saw last week? What about the exquisite pleasure of dining in a cozy restaurant? What about the clothes you wear? The car you’re driving? Your other hands made it all possible for you to feel good each day.

Recognizing this makes you feel like a billionaire, because you own and created this world with your six billion pairs of hands! You’re not the grain of sand you think you are, but the magnificent beach! You’re not the tiny raindrop – but the mighty ocean! And without a dime in your pocket, you’re not the poor man or woman you think you are – but the proud owner of this beautiful world. So, take care of it – if you want to feel good today, tomorrow, and forever!

Lease Audits

Lease audits are an integral and essential component of due diligence when purchasing an investment property. Lease audits apply to apartments, office, retail, industrial, self storage and any other type of property where written leases exist.  In lease audits most rent rolls are accurate and consistent with the actual leases. Lease audits can compare rent roll to leases to bank records.  Most investment property sellers have not engaged in the nefarious activities such as leasing a volume of space to undesirable tenants. However, the financial pain caused by either misrepresentations by the seller or the seller signing leases with inappropriate tenants can ruin an otherwise attractive investment.

Steps in a lease audit can include the following:

Determine whether appropriate screening was performed for tenants. For example, for apartments this would include both credit checks and criminal checks.

Perform appropriate screening for tenants when there is no information in the file, provided the tenant has signed or will sign a release.

Determine whether the tenant actually occupies the space indicated in the rent roll.

Interview tenants in person or via written communication to determine whether they agree with the lease terms summarized in the rent roll and lease.

Interview tenants to determine if they are satisfied with the services provided by the management company and their relationship with the property owner.

Interview tenants regarding their plans or pending changes.

Compare lease and rent roll terms versus actual payments.

Reconcile ledgers with bank statements.

The value of an income property depends upon the quantity and quality of income. Both the quality and quantity of the revenue are dependent upon the accuracy of information contained within the rent roll and implicit assumptions regarding the tenants of lease audits. Sloppy record-keeping and fraud can cause a perspective investor to be presented with a rent roll which is entirely inconsistent with income being generated by the property. For apartments in particular, it is not uncommon for an owner to loosen leasing criteria to increase occupancy prior to selling the property. Investors can mitigate their risk and avoid becoming embroiled in a difficult, time-consuming and financially draining investment by verifying the accuracy of the rent roll and tenant quality via a lease audit.

O’Connor & Associate’s staff complement of over 50 real estate professionals can complete a lease audit to mitigate your risk. They can also handle other due diligence tasks. These professionals are supported by an experienced staff of over 100 who are accustomed to complex assignments. Our team has experience in all aspects of real estate including acquisitions, due diligence, ownership, appraisal, property tax appeals and dispositions. Reduce your risk and stress by utilizing O’Connor and Associate’s breadth and depth of experience to evaluate real estate investments.   To obtain more information on O’Connor & Associates lease audit services, call or email Larry Brewster at 713-686-9955 or fill out our online form.