FIRST 90 DAYS !

Overall, Charlotte and Houston are progressing nicely. We love to see our construction ahead of schedule and some great inroads on new month sales.

Spring has just started. Through out the next 3 months, we should see an uptick in new leads and new customers. We are sending 2,600 hard copy mailers and increasing our Google Ads budget to maximize the opportunity. 

Charlotte – Please check out our new website and let us know what you think (Rethink-selfstorage.com).  

This year in Charlotte, the business plan is to create 120 units outside and 200+ inside. We expect 10-20 new customers per month.

In Houston this year, we are focusing on getting occupancy stabilized at70% before building on the extra 1.5 acres.

How to Help Us:

1. We make more money when you leave us a review. Houston – here and Charlotte – here. 
2. Monthly photos and videos will be saved on our website – here. 
3. 2023 K-1s were sent in March. Next distribution first Friday in April. 

 

Charlotte, NC –  We closed on January 4th for $2.7M!  

✅ GREAT, GREAT NEWS! 4 Year contract for one of our storage rooms for $40,000-$44,000 per year! 

✅ Why It’s Important: Building $40k a foundation of revenue makes our cashflow constraints of year 1 much easier.  This is only 3,800 sq ft. and we didn’t need to buy any steel or doors!

✅ AHEAD OF SCHEDULE – the main room is 100% ready for installation of new steel and doors. 4 weeks ahead of schedule! 

✅ GOOGLE ADS started at $500 per month. 10 self storage customers without any advertising. Installation of new climate controlled units inside are expected in June. 

✅ CAPITAL IMPROVEMENT – We built a driveway to accommodate our new 4 year tenant, for a 60 ft, 26 ton gravel driveway. 

✅ CAPITAL IMPROVEMENT – We installed new floors for office space (700sq ft). Painted and installed drop ceiling. Ready to rent! 

✅ GOOD NEWS, not in our business plan – We removed a 30,000 lb piece of equipment. Cleaned and painted this room for an additional 900 sq ft. Ready to rent! 

✅ NEXT MONTH – Monument sign will be going up.  We will start negotiations on the 2nd floor renter to increase rents. 2,600 people will receive flyers regarding our Grand Opening. 

Houston, TX – We closed on December 20th for $1.6M! 

✅ FIRST 90 DAYS – Our revenue for the first quarter is $30,000 versus $21,949 in our business plan. This is approximately 1 month additional revenue!

✅ MARCH – We converted 52% of customers to autopay. We converted 48% TO 53% of customers to purchase insurance.  The speed of autopay and insurance is 3 months ahead of schedule. This solidifies our future cash flows and increases the profitability per unit by more than $2,500 per month. 

✅ TECHNOLOGY – 10 new leads in the last 30 days, so we are increasing our Google Ad budget monthly. 

✅ NEXT MONTH – Adding new marketing strategies to increase our leads. 

✅ HELP US –  LPs make more money when you leave us a review. Houston – Here 

✅ SEE OUR PROGRESS – Here

Photo Gallery- Charlotte

Photo Gallery- Houston

First 60 Days are Closed Out !

Charlotte is now open for business as of Feb 15th! We are excited that the website, property management and Google advertising is just getting started. We purchased the site on January 4th, and 5 weeks later, we have our first customers!

We feel very strongly about the prospective tenants for a couple of the back warehousing spaces for quick revenue to support our outside and inside storage projects. 

This year, the business plan is to create 120 units outside and 200+ inside. We expect the new customers to be somewhere between 10 and 20 per month once stabilized.  

In Houston this year, we are focusing on getting occupancy towards 70% before building on the 1.5 extra acres. 

How to Help Us:

1. We make more money when you leave us a review. Houston – here and Charlotte – here. 
2. Monthly photos and videos will be saved on our website – here. 
3. 2023 K-1s are expected in March. Next distribution first Friday in April. 

 

Charlotte, NC –  We closed on January 4th for $2.7M!  

✅ February – We are about 3 weeks ahead of schedule. In February, so many things have been accomplished. We fully completed he outside 100% for 120 units and just in the last week, we are receiving our first customers.  [Link to photos] 

✅ March – We expect to finish the inside main room for 25,000 sq ft – prepping it for a 2nd delivery of steel. That delivery expectation for install is about $250,000. 

Houston, TX – We closed on December 20th for $1.6M! 

✅ FIRST 60 DAYS – $12,533 of January sales versus $5,023 on our business plan, which is 4 months ahead of schedule. February sales ($9,376) were a little bit lighter due to some December customers paying in January. 

✅ FEBRUARY – We converted 46% TO 59% of customers to autopay. We converted 38% to 48% of customers to purchase insurance.  The speed of autopay and insurance is 5 months ahead of schedule. This solidifies our future cash flows and increases the profitability per unit by more than $2,500 per month. 

✅ TECHNOLOGY – We have been seeing an uptick in leads and customers due to our digital marketing budget. Leads have increased from 9 to 10 over the last 30 days.

✅ HELP US – Leave us your google review here to accelerate our customer ratings and higher brand awareness. 

✅ SEE OUR PROGRESS – Here

✅ March – We expect to finish the inside main room for 25,000 sq ft – prepping it for a 2nd delivery of steel. That delivery expectation for install is about $250,000. 

Photo Gallery- Charlotte

Photo Gallery- Houston

First 30 days are closed out!

We are happy to announce our accomplishments for the month. 

Weekly, we are meeting with our property management teams. We are excited to get started on the digital marketing and grassroots efforts to increase occupancy as soon as possible. Right now is the biggest risk of our projects with the speed of lease ups, so we are doing everything we can to increase our digital footprint. 

The GPs and contractors have been in Charlotte everyday for the last 30 days. The business plan is communicated with all parties to finish this grand opening ahead of schedule. In Mt Holly, we will be adding 120 units in February, 340 units in June and in over the next 2-3 years, 550+ units.

Follow our progress:

1. Monthly archives will be saved on our website – here. 
2. We need your help! Leave a google review for our storage units! Houston – here and Charlotte – here. 
3. 2023 K-1s are expected in March. Next distribution first Friday in April. 

 

Charlotte, NC –  We closed on January 4th for $2.7M!  

 

✅ Jan 4 – We purchased 108 Rush Street Mt Holly for $2.7M. We spent the first 30 days – 1) Demolitioning and cleaning offices and outside spaces. 2) Power washing, painting and paving everything outside. 3) Receiving and installing relocatable storage units (120) for the fastest units to rent. 

✅ Jan 30 – Contractors and repairmen power washed, sheet rocked and made necessary repairs to rent out offices and to warehouse rooms for 4000 and 7000 sq ft. We are looking to market these spaces for $2000, $5000 and $8000 per month. 

✅ February – Painting and completing offices and warehouses, marketing them on commercial broker websites [Link to photos] 

✅ February – Property management, website, call center and digital marketing presence should be all in place. Outside 120 units should be complete and we should start leasing at the end of February. [Link to photos] 

Houston, TX – We closed on December 20th for $1.6M! 

 

✅ FIRST 30 DAYS – $12,533 of January sales versus $5,023 on our business plan, which is 4 months ahead of schedule!

✅ JANUARY – We converted 0% to 46% of customers to autopay. We converted 0% to 38% of customers to purchase insurance.  Both very well ahead of schedule, and the insurance increases our sales by more than $2000 per month!

✅ TECHNOLOGY – www.rethinkselfstoragetx.com and call center are now converting sales calls with 9 new customers in the last 30 days. 

✅ HELP US – Leave us your google review here to accelerate our customer ratings and higher brand awareness. 

✅ SEE OUR PROGRESS – Here

Photo Gallery- Charlotte

Photo Gallery- Houston