Brian Thorn & Kim Pilcher

Name of Facility: Kingsland Storage Center

Location of Facility: 13500 Hwy 40, Kingsland, GA 31548

Square Feet: 13,700

Number of Units: 94

Method for Finding the Deal: Broker, direct mail, Cold Call… On market – Brian tied

Acquisition Price: Cap Rate at Purchase: $230k 3.4 Cap it up right away.

NET Monthly Cash Flow (After any Debt Service): Break-even to start, increasing from there.

Funding Type: Owner finance 12 months, bank loan month 13

Closing Date: May 30, 2020

Why did you like The Deal? Huge value adds, way below market rents, lots of deferred maintenance, no software – our chance to bring it up to current small-town standards. 4 ac for expansion.

The strategy you learned from Self Storage Profits, Inc. that helped you the most: How to analyze a facility, how to see the different options with purchasing.

Exit Strategy/future plans: 3-year hold, then sell or begin expansion.

Facility Website: