Commercial Real Estate Pro Network
BIGGEST RISK with Corinn Alltomare
- Author: Vários
- Narrator: Vários
- Publisher: Podcast
- Duration: 0:02:52
- More information
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Synopsis
J Darrin Gross: If you're willing, I'd like to ask you. Corinn Altomare, What is the BIGGEST RISK? Corinn Altomare: for self storage, specifically? And I'll go there. First, something that we keep a very close eye on is over saturation, because it is such a niche market kind of service and real estate and business. So that's something that we head off very early in our underwriting process. We use a number of technology tools that not only track existing inventory in any given market or region, but also what's coming in the pipeline, what kinds of either zoning, zoning applications or new development, new construction permits are out there to make sure that we are not either buying or developing in a market that's already teetering on the brink of over saturation. So that's something very specific to what we do in self storage that we look at that's a primary risk, I would say, just because it's the laws of supply and demand. So that's something that we keep a close eye on throughout the acquisitions and du