- May 31, 2017
- Posted by: admin
- Category: Self Storage Management
I have worked for a number of organisations over the years in various roles. Many of which have been in site and property acquisition positions. Whether this is office, retail, development land or self-storage, the one element that you cannot change is their location.
To try and find property opportunities from behind a desk is very difficult. You may get lucky on occasion, but you will see a lot of rubbish before you find a gem. Of course there is desktop work to do, including properties that are openly on the market as well as identifying local agents to speak to with invaluable local knowledge.
However in my view the best way to find a good property deal is to get out there and go and look for it. It is amazing what you find when you look. As my Dad used to say to me “Seek and thou shalt find”.
This involves some desktop work, firstly identifying the target location of towns, looking at the areas that fit the required criteria. Most “On Market” properties can be found online, and the ones that fit the criteria should be on the list. Then plan your route. This maybe the industrial areas or the main arterial routes. It maybe the city centre or retail areas.
The next stage is to get out there and go and have a look. Ask neighbouring property occupiers, what is happening next door. On your town visit, don’t be shy. It is amazing when you ask questions how much information you find out and how this leads to opportunities you weren’t expecting.
Then you need to follow up. This maybe as you go or when you get back from your visit. It may involve research into property owners, or mailing letters to property occupiers to see if there is an opportunity.
In summary to find the best deals you need to be proactive and not assume anything. This is time consuming work, and therefore needs to be carried out by someone with experience. The right person will find the best opportunities both on and off market, and in there will be the gems you are looking for.