Quiz: Are you a buyer or are you a builder?
1. What’s your game, baby?
A. Blackjack
B. Poker
C. Roulette
2. How would your colleagues describe your patience level?
A. Miss Piggy
B. Fozzie Bear
C. Kermit the Frog
3. What does your business coach say about your approach?
A. Slow and steady wins the race
B. Jockeying for position
C. Warp speed ahead, captain
4. What’s your favorite HGTV show?
A. Love it or List It
B. Fixer Upper
C. HGTV Dream Home
5. When you think about your Ninja level in terms of experience building a business from scratch, who do you most relate to?
A. Teenage Mutant Ninja Turtles
B. Jackie Chan
C. Bruce Lee
6. What are your return on investment goals?
A. Golden Nugget
B. The Luxor
C. Bellagio
7. How much capital can you comfortably risk on a deal you may have to walk away from?
A. Pinto
B. Mustang
C. Corvette
8. What’s your timeline e.g. how long can you wait to find prince/princess charming?
A. Pretty Woman
B. When Harry Met Sally
C. Sleeping Beauty
9. How much do you know about the self-storage industry?
A. Bill Nye the Science Guy
B. Neil Degrassi Tyson
C. Einstein
10. How would you describe your risk tolerance?
A. A bird in the hand is worth two in the bush
B. Don’t put all my eggs in one basket
C. I like to skate on thin ice
11. What happens on your ideal vacation?
A. Picnicking
B. Mountain biking
C. Rock climbing
12. The kind of life you want best fits the following description:
A. Checking in from the 9th tee
B. I keep my planner close and my Google Calendar even closer
C. Work hard and play even harder
13. Your closest friend always contacts you first when which one of these situations arises:
A. She needs a job reference
B. She needs bail money
C. She needs help moving
14. Which phrases are you most likely to overhear being said about you?
A. Saving for a rainy day
B. The early bird who gets the worm
C. Crazy like a fox
15. What is the most outrageous thing you ever did to close a deal?
A. Sold my stock options
B. Sold my house
C. Sold my children
16. If you were a dog, what would you be?
A. Border Collie
B. St. Bernard
C. Rottweiler
17. What are you most afraid of?
A. My projects not getting off the ground because I’m afraid to pull the trigger
B. Being so comfortable with my existing projects I’m slow to take on more
C. Dying before I complete all my projects
18. What song best describes the role do you usually take in a public debate?
A. I’ll Be There for You
B. Come Together
C. Who Let the Dogs Out?
Tally your answers and give yourself 1 point for each question you answered A, 2 points for each question you answered B and 3 points for each question you answered C.
18 – 30 points: BUY AN EXISTING FACILITY
You see the value of a well-oiled machine and you are going to drive that baby into the sunset. Look for a self-storage facility whose owner lovingly cared for it and was a responsible business person, and do what they did.
31 to 43 points: BUY A VALUE-ADD FACILITY AND EXPAND
Your ability to see the potential in a facility will stand you in good stead. Look for a facility with room for improvement, and if there is land to expand on, even better. Keep putting one foot in front of the other and you will quickly be a happy, wealthy owner.
44 points or more: BUILD A NEW FACILITY
With a cocktail in one hand and a whip in the other, you are going to get those frogs into that bucket if it is the last thing you do. Your ground-up project may realize the biggest returns, when and if it comes to fruition. So bring on that grumpy city council, that water detention pond, and those pesky REITs – you got this.