Self Storage Q8 Evict People

Sometimes when I'm speaking with some residential property owners and we get on the topic of evictions, I get a little bit of a smile that comes to my face. And the reason why is when I sold all of my single family and multi-family properties awhile ago and traded into self storage, I also was able to get rid of evictions altogether. My name is Fernando Angelucci. I'm "The Storage Stud".

Is it true that self storage doesn't have evictions? And the answer is yes. It is true because we are guided by lien law or property law as opposed to tenant landlord law. We do not have evictions. There is no habitation of our units. So as opposed to having evictions where in some markets that are extremely tenant friendly can take six or seven or eight months to get a tenant out. With storage, it's the auction process.

What we do is we give notice to the owner of that unit or the renter of that unit and we say, Hey, you haven't paid your rent. You have a couple of days to come current. If you're not able to do that, we're going to go ahead and over lock your units and then we're going to start the process of auctioning off your belongings to pay the back due rent. Usually that process takes about 30 to 45 days. You usually need to put about two notifications in the local legal newspaper and then usually around the 45th day not only has a buyer come and purchase the belongings of that unit, but they've also cleaned it out for you or else they risk losing their deposit when they made an offer on that unit. And then the turnaround time is can be as quick as 24 hours. On some of our facilities. We've actually had a new tenant meet the buyer of the auctioned unit and just waited until that buyer was done cleaning out the unit and then move their stuff in there. So our turnaround times on those were 10 15 minutes long.

My name is Fernando. Angelucci. If you'd like to learn more about storage, feel free to drop me a line at www.TheStorageStud.com

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Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,
Find out more at
https://www.TheStorageStud.com


http://titanwealthgroup.com/

Titan Wealth Group operates nationwide sourcing off market investment properties for Titan Wealth Group’s acquisition as well as servicing a network of thousands of active real estate investors world wide. Prior to founding Titan Wealth Group, Fernando worked for Dow Chemical, a Fortune 50 company, rolling out a flagship product estimated to gross $1B in global revenues.
With an engineering background, Fernando is able to approach real estate investing with a keen analytical mindset that allows Titan Wealth Group to identify opportunities and project accurate pictures of future performance.
Fernando graduated from the University of Illinois at Urbana-Champaign with a B.A. degree in Technical Systems Management.
Titan Wealth Group was founded in 2015 with the vision of gathering individual investors that have the means to invest but lack either the time to find high-yield investment opportunities or the access to these off-market deals. All too often, founders Fernando Angelucci & Steven Wear came across investors who had deployed their capital only to regret the lack of consistency or degree of returns their investments were producing. In response, Titan Wealth Group provides access to highly-vetted real estate secured investments and off-market acquisition opportunities primarily in the Greater Chicago MSA. Today, Titan Wealth Group not only assists individual investors but has grown to support the acquisition goals and capital deployment of investment groups, private equity firms, and real estate investment trusts (REITs).
As a facilitator of wealth growth, Titan Wealth Group believes that success is not limited to the sum of our efforts and is infinite with what can be accomplished through partnership.
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