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STN 79 | Online Self Storage Auction
PODCAST

Online Self Storage Auction: How To Auction Like A Pro With Bonnie Young

 

STN 79 | Online Self Storage Auction

 

Have you ever wondered how online self-storage auctions work? Bonnie Young, the COO of American Self Storage Management, joins Stacy Rossetti to walk you through the entire process—from finding an auction to bidding on a unit. Bonnie and Stacy also tackle the pros and cons of online auctions and give you some tips for getting the best deal. Whether you’re a seasoned auction pro or a beginner, this podcast is for you! So listen and learn how to score some amazing deals on self-storage units.

Watch the episode here

 

Listen to the podcast here

 

Online Self Storage Auction: How To Auction Like A Pro With Bonnie Young

Let me introduce Bonnie here and then we will get started on the auction process.

I’m dealing with auctions.

That would be good. Introduce yourself fast to everybody. Tell everybody who you are and what you do.

My name is Bonnie. I am pretty much the COO of American Self Storage Management, which means I’m the COO of Ms. Lillian’s Self-Storage, Mission Self-Storage, and also Cherry Station Self-Storage. They’re three separate companies all with multiple facilities underneath. I manage everything to do with Pete’s assistance but mostly, he deals with all the maintenance stuff. All the backend office stuff is me, unfortunately, because it’s a lot, especially since Pete is giving up the reins a little bit more every day. Every day, it keeps going and I have to keep delegating. It will smooth out but now, it’s a lot.

There’s a lot going on because we own sixteen storage facilities. We have acquired six in 2022. It’s a lot. They’re also big storage facilities.

The ones you’ve gotten are so big. It used to be 100 facilities.

Bonnie started at our second facility.

I started at the second one. The second one was Noonan. I was dealing with Fayetteville and then you bought Noonan. I pretty much took over both of them because I was also helping you with billing beforehand.

That’s how Bonnie started. She came in. I was in her position. I was like, “I’m going to delegate all this stuff out.” I delegated phones to her and then the auction process. The first two facilities were 125 doors and then 60 or 75 doors. It’s 200 in total. A lot of people always ask, “When should you hire somebody?” I don’t want to do any work. I always hire everybody. Pete says I always hired too many people. That’s why we hired Bonnie. I wanted to delegate this work because I wanted to focus on finding and funding. That was the purpose of Bonnie.

At this time, Pete had a home inspection company. He sold that company off, came in right after Bonnie came in, and started taking over. He wasn’t around for the first two facilities either. He was busy with his home inspection stuff. As soon as he sold that company, he moved over and then he and Bonnie started taking over. I tried at least to step out of it and focus on the coaching stuff. That’s how it worked. I still don’t step out. I still like to put my two cents in any way.

That’s how it is. Fast forward to 2023, we didn’t close on any facilities until the end of April or May. We closed on two facilities, Cherry Station Storage and then also Leesburg. Up until then, you’ve still always done all the auctions. It wasn’t a big deal for you. You added another big auction to your thing. Talk about the auction process and how it works for you. What’s the process? Let’s talk about payments up until the auction process.

I want to share with people but I don’t want to give out information. We start the delinquent process, meaning that they’re late and that’s the auction. In my head, the auction process starts on day two after a payment is due. If they’re due on the 1st, on the 2nd, I’m already in my process for auctions. That’s not a very positive way to think about it but you have to go ahead and have that setup. On the 7th, we added a late fee. It’s a partial late fee. It’s only $5. On the 15th, we add a $25 overlock fee because we overlock them out. That means that they have to pay to get us to unlock it and they can have access to it.

STN 79 | Online Self Storage Auction
Online Self Storage Auction: The auction process starts on day two after a payment is due.

 

On the 25th, we add the rest of the late fee. It’s a $25 or $20 late fee total through the whole month because each state has a legal requirement on what you can charge as a late fee for that state. Florida is different than it is in Georgia. We can only do a certain percentage and split that up into two. We always do the one on the 5th or the 7th because we want to make sure we at least get some late fee. We do the bigger part at the back end of the month because if they’re already back there, then let’s finish up the late fee.

The numbers and the dates have changed over experience and stuff. How do you come up with these late fees?

It’s all legal and mandated by the state. Overlock fee is the fee that we charge to put a lock. We came up with that number. We chose $25 but that’s a state thing. You can look up what you could do.

It’s in the contract.

The late fee is governed by your state. You could do it all on the 5th or break it up. We broke it up because it’s easier to get $5 from somebody than it is to get $25 on the 5th. We like getting a little bit extra money for them being late. The auction officially starts when I tell people and tenants that they’re late. I’m like, “It’s going to auction.” It starts on the 26th of the month. That means they are 25 days past when they are due. From the 2nd, 25 days later is the 26th. On the 26th, I go ahead and send them a certified letter. I created a letter in our system. I don’t know if you all have storage or not but storEDGE has a thing. You could go and create an auction. It generates the letters for you. You print them out.

storEDGE added this feature where you can automate your auction process. That’s what she’s talking about with sending the letters. They have a Mail House and stuff.

You can’t do a Mail House. It just generates the letters for you. It also generates one of these. This is a certified letter firm. You take this sheet of paper to the post office on the 27th because, on the 26th, you’re going to be writing addresses. I have to manually write everyone’s addresses on the envelope, stuff the envelope, and then put our stickers and stuff. Once I have a huge stack of those, I print out one of these for every facility and take it down to my local post office, which is 30 minutes away because my local ones are stupid and I’ve trained the one in Senoia.

I drive to that one because they know what I’m doing. They make sure that the names of the tenants match the letters that I have and then put a stamp on it, which is when I mailed it. I pay a small fee. It’s a certified mail fee. You have to print out a whole bunch of legal documents for the post office because every post office is different and they’re all stupid. Be prepared to have an argument and state your case. If you want more on that, I can get with Stacy and Pete. We can provide some documentation for that as well.

What she’s talking about is that for the auction process, the post office charges a fee to do your auction for you.

It’s to mail it certified without having a certified mail. This is putting a regular stamped envelope in the mail but it’s showing us legally that we put it in the mail on this date. It’s a cheaper option than certifying 150 individual auctions.

We do the cheaper option on how to send a certified mail without certified mailing the letter. That’s what we do. That’s what she’s talking about. Otherwise, you would have to certify every single letter. By law, you have to send certified mail and let the tenant know that you are putting them into an auction. That is what we’re talking about. That’s the process that she does, which is a lot of work, honestly.

It’s a lot. You could Mail House anything else but you cannot Mail House certified letters.

You can't mail house certified letters. You could mail house anything else, but not certified letters. Share on X

storEDGE offers two different things. One is the auction letter where they create the letter for you and then you can download it, print it, and then mail it. They also have a Mail House. Mail House is where if you need to mail any letters out, they will mail that out for you. storEDGE is the only software that will do that. ESS, Storable, and Hummingbird are not going to do this. Only storEDGE does this. We take advantage of it because Bonnie is a busy lady. We have sixteen facilities. As much as we can, we take advantage of what storEDGE offers.

After I put this in the mail, two weeks after this date, I can officially put it in the newspaper. I have to write a legal listing for the newspaper. I have an example here. It lists who’s the tenant, the size of the unit, and the unit number. It has all three things and some legal jargon up top pretty much saying the auction is going to be at this place at this time. You put it in the paper.

That’s the little snippet that goes into the newspaper.

I send this to all the different newspapers. You have to find the legal organ for the newspaper for that city. If you use the wrong newspaper, it is not legal. We found that out the hard way once. Trust me, make sure you’re using the legal organ. It was fine. Nothing happened but it could have been bad. Thankfully, we solved it beforehand.

That’s good to know. Make sure you use the real legal organ.

There’s a site called Georgia Public Notice. Each state has a public notice section where it loads up all the legal auction notices and other notices. If it’s not there, it’s not legal. That way, you could double-check and make sure that your stuff is getting posted correctly. After you put it in the newspaper and send it to them, it has to run for two weeks consecutively. That means we’re already at four weeks after they’re already late. Remember, the 26th is when I mailed these letters. Four weeks later, I can open up the unit and take photos.

We’re not doing auctions every month.

We do it every other month. We were trying to do it every month. It’s too much work to do every month. We’re still only getting 2 or 3, up to 5 per facility even with 2 months.

She’s talking about the one that we closed on, the Cherry Station one. We have a lot because that was a severely mismanaged facility but in the ones that we have owned beforehand, we only have 1 or 2 auctions every other month or something. The reason we have a lot is because we bought that one facility that needed a lot of work.

We decided to auction off Leesburg and Cherry Station at the same time. It has been fun.

They are the ones that we closed on the same day too.

It was within two weeks of each other. You were like, “We closed one.” Two weeks later, you were like, “We closed another.” I’m so happy for you.

She goes with the flow with us, “She has these sixteen facilities and she doesn’t know the behind-the-scenes of what’s going on.” That’s Bonnie and everybody underneath her going crazy.

It’s me in my sweater with my hair pulled up at 9:00 at night going, “Stacy, it’s fine. Whatever you want, I got you.”

I’m like, “Can you hop on this show please?”

No problem. It is good. I’m like, “Stacy, that sounds great.” After they run to the newspaper, I send my boots-on-the-ground people out to whatever facility. This is where you have to trust your boots-on-the-ground people. If you’re doing it yourself, that’s fine but they have to cut the lock and re-overlock it when they’re done. They have to have a special lock for the unit. They have to open it up and take good enough photos to sell the items.

My maintenance guys still have a hard time with that. The better the photos, the better the pricing of the auction. If you want to make money, you want to take better photos. My boots-on-the-ground people are pretty much like, “I took a photo.” There was a lot. I’m not super angry at them this time but we may have lost 1 or 2 good deals that we could have had with better photos. It’s not for a profit.

We manage all of our auctions through StorageAuctions.com. There are a couple of different companies that do this and I don’t know all the names but we use StorageAuctions.com. They have an API that works right into storEDGE. Can you manage them right in through storEDGE? Do you have to go into StorageAuctions.com to do that?

I have to go into Storage Auctions but it’s linked. If you click Sync, it will sync up with everything you have in storEDGE. It carries that information over. You have to input a little bit of data and then add some photos but once you have the settings, then it’s pretty much plug and play, which is super convenient when you’re doing 100-something of them.

The boots-on-the-ground people are going out and taking all the pictures. They have a lot of pictures. You’re pissed off at us. They’re taking crappy pictures and stuff. What do they do with the pictures? Do they upload them to Google Drive?

They send it to us in a Google album as they do on a regular walkthrough for us. Whenever we’re like, “Go to this facility and take photos,” they do everything and then send us a Google album link. We save them how we want to save them but I don’t trust my boots-on-the-ground people enough to file correctly. In the office, we handle that, take the photos, and then upload them to Storage Auctions. After you have the photos all uploaded, and everything looks nice and pretty, you should launch it for at least two weeks. That’s six weeks after the 26th and then we can finally have auction day.

What were the first two weeks for?

Two weeks is after the letters. You have to mail the letters and wait. It’s 2 weeks for the newspaper and then 2 weeks for the actual auction.

Ultimately, it’s taking 6 weeks to get 1 auction done.

Plus, the month of them being late. It’s two and a half months of them not paying anything for them to get to auction day. That’s not including all the phone calls, letters, text messages, emails, and everything to get them out because I don’t want to do as many auctions. I know they don’t want to lose their stuff.

Do we have any more options going into StorageAuctions.com? Are we done?

They all closed.

There’s nothing. Can you share StorageAuctions.com and show us how it works and everything? Show everybody what StorageAuctions.com looks like and then go through a couple of examples. You should probably see them in your account. What does it look like? We sold all kinds of stuff. What are we selling?

This is what the auction site looks like for bidders. If they’re like, “I want this green chair,” these are the photos they have. The photos are not the best. It looks like they have their settings on their phone wonky.

That’s not ours. All pictures on StorageAuctions.com suck.

The better the photos, the people are more willing to buy. Here’s a Sync Storage button. I can sync it and it pops up a number over here if I need to auction something but I don’t need to auction anything. It would pop up right there.

The better the photos, the more people are willing to buy. Share on X

You ended auctions. That’s good. These are all the auctions that are finished. Maybe you could show us a couple or something.

I’m opening Cherry Station because it’s the one that needs the most help. You put the end date and start time. This is all the legal jargon that goes into these auction instructions. This is what gets added to every invoice that they get. You could say, “Do not go to the facility. Call us before you make a payment.” It has all the unit numbers here and you can also view the unit. I’m going to go down to one of the ones that we sold. It was the highest one we sold. Stacy doesn’t know this number. You’re going to be so excited when I show you this one.

How much money did we make? We got that trailer for $6,000. That is crazy. Somebody paid $6,000 for this thing.

It has already been paid.

Cherry Station Storage is the storage plus the parking. Talk about vehicles and what’s the process to be able to auction this thing off.

It’s the same. It might be different per state but we noticed that in Tennessee and Georgia, it’s the same. As long as we go through the same process as a unit, then you can auction it. However, the person who wins the vehicle has to take the sales receipt, the auction receipt, the newspaper article, and pretty much proof of all the steps that it went to auction to their DMV so they can say, “I legally purchased this in an auction. I need the title for it.” We don’t have a title for them because we can’t even get ahold of the person and pay for it, much less have them give us the title.

Talk about how much effort you put into trying to get ahold of that owner for that RV.

When we bought the facility, we had a list of people’s names and information. We called and texted him. We sent an email. We sent a letter from the previous owner. We sent a letter from us. We sent a follow-up letter. We sent the certified letter. Every time we send something, we do the threes. We send a letter, call, email, and text. Pretty much every step along the way, they got a call, an email, and a text.

You can show proof of all that inside storEDGE. We’re doing a lot of communication to try to get ahold of these people. It’s not a one-and-done thing.

Some of them haven’t paid yet. We have a company called IDI, which is a background check thing but it pretty much helps us identify where people live and their phone numbers. What we do is log into the site and put in as much information as we can based on what we have. Sometimes it’s VINs. Sometimes it’s their last known addresses, last phone numbers, or last names. We try to fill in as much information so we can find somebody. It pulls a background report of who that could possibly be and then we try calling even those people. Sometimes that works. Most of the time, it doesn’t.

IDI is a skip-tracing company. You have to get a background check to get access to it. What you do is you can have access to either residential or commercial property information or get access to vehicle information. That’s another level of security. Pete went through the whole security check thing and he was able to be able to get access to these vehicles because this is the purpose.

We don’t want to get rid of their vehicle but if we can’t get ahold of them, we have to auction it off. My understanding is that the owner of this RV wasn’t paying beforehand. They have not been paying even from the older tenants that were there. It had been sitting for quite a while without getting paid. It’s not like we sell off any vehicles that don’t pay in one month or something. We’re trying to get ahold of them.

After the auction closes, it generates this invoice. Some of them have it and some of them don’t but most of them have it because it’s pretty much closed. I have to go into Storage Auctions and download all these invoices after they are generated. It only creates this button after they pay Storage Auctions. Let’s say this person got the one I downloaded.

They paid. They won the unit for $10, which is not a lot of money. Storage Auctions took $1 of that. We have to collect $9. It’s going to take 10% of your profit. However, the goal of this is not necessarily to make a profit. It’s to get the units emptied so we can start making money and putting somebody else in. What we do is call them and they have to pay $9.

How do you get the payments? How do they do it?

I’m about to go through the process. This is what they get from Storage Auctions. It says that they do owe us money. It says, “Do not go to the facility because they have to do that.” It should be somewhere that says they owe $50 as a deposit. When I get that invoice, I go to my trustee. This is our phone system as of this moment. It goes here and then I send out this lovely message. I said, “This is us. You won the unit for XXX. Please give us a call. This is how much you owe. This is how much you want it for. This is the deposit.” There’s everything that they possibly need.

They call our storEDGE. I even gave them the extension to use, which is my extension at our company. I know when it’s an auction call or not. I go to auctions and go right here to this process. This is where I would create the letters. I created this auction thing where it says, “Scheduled auctions.” It creates it all for me. As I hit Process, I put in how much they won. Let’s say they won it for $10 as we went over. I could do a regular charge to get all that information.

You could go right into storEDGE and run a transaction right there.

For the deposit, we have to do something different because storEDGE is stupid. I don’t know if you are aware of that or not but it is. We have to do a retail purchase and go to Auction Deposit. We had to create this item because we had to act like it was an actual physical item, and then we could run this one. Whenever this invoice comes out, I send them a text message with their invoice number and all of their information. There’s the combination for the unit and then the code to get into our gate. They have to send in empty photos. I could show you one that I refunded not too long ago. There’s the invoice, gate, and overlock. He sends me the empty units.

He came in and cleaned everything out.

Once I get this photo, I see the invoice number, open it up in storEDGE, and type in that number, and then I can refund the location. I let them know that it was refunded and then the whole unit was done. That’s the end of the auction at that point but from start to finish, it’s three months.

Once this unit is paid, then internally for you, what happens with the boots-on-the-ground people?

We still keep it marked dirty not because we don’t know that it’s empty but because people are silly. Sometimes people will pull everything out, take a photo, and then put things back in there after they go through it. That’s happened once or twice. We would rather have boots on the ground to confirm a unit is empty before we have a new tenant come in and walk into stuff in the unit. While it might cause us to lose 1 or 2 units, it will make sure that we won’t have an issue later on.

Go back to StorageAuctions.com. It will be good. We could take a look at that. The auction process ended. Your job is to get ahold of everybody who bids on something and try to get them to pay whatever amount of money they owe.

What I do is after I downloaded all those invoices, I created a folder. These two units are my ball ground. There is the invoice. As they pay, I put all of their files in here directly. I don’t have a whole bunch of paperwork. I’m not supposed to have this on my desk but I got a little busy. I printed it so I could save it digitally later. When it’s green, that means that the facility is paid. All the units are paid up. We’re waiting for them to be cleaned out. When it’s red, that means that someone in that facility has not paid Storage Auctions so I can’t pull their invoice.

Let’s say I opened Fairburn. It looks like Unit 30 hasn’t paid Storage Auctions. I can’t download the invoice. We can’t even collect that payment yet. When it’s yellow, it means that everyone has paid Storage Auctions but they haven’t paid us yet. This pink one means it’s all clear. Everything is good. The storage has been paid for, cleaned out, and refunded. The goal is to get all of it pink.

That’s how me and customer service keep track of everything. If she’s on the phone with someone in Leesburg, she knows to mark 245 green if she’s making the payment. I could look quickly and go, “What do I have left? Who do I need to contact later to be like, ‘Why haven’t you called to make my payment? Why aren’t you coming to get your stuff?'”

What do you do with all of the people who don’t pay? Do most people pay? What happens?

It doesn’t have that invoice. That means that they haven’t paid yet Storage Auctions. I give them 24 hours or a little bit more.

Do you set that time limit yourself and say, “I’ll give you 24 hours?”

I’ve been super busy so I haven’t been super on top of the people who haven’t paid yet but then I’ll come here and hit No Show. Storage Auctions will go after these people. If they can’t find anybody or there are no other bidders, and it looks like there’s not going to be because there’s only one bid, I’m waiting on this person at this point to hopefully make a payment so we can clean out the unit and not have to worry about it. Storage Auctions will be like, “I couldn’t find any bidders. You legally have the right to keep this unit.” Even though it didn’t sell in auction, it gives it to us, which normally, it doesn’t. For the ones that don’t sell, a company comes in and buys all the ones that we don’t sell.

Did StorageAuctions.com introduce you to that company? How did you find that company?

I created it but we can’t bid on our things. I had to have a company bid on it from an outside source.

At least something is getting done with it.

If you don’t sell a unit legally in a bid, you have to start the process all over again not from day 2 but you have to do it from day 26. You have to resend them the certified letter and redo the newspaper. What happens is after the live auction is over, my company Wonderland Management Services comes in and pays $1 for every single unit that did not sell. I bid that to the company. It’s not through Storage Auctions. That’s how we legally get around having to do all of that work all over again when we know it’s a trash unit.

STN 79 | Online Self Storage Auction
Online Self Storage Auction: If you don’t sell a unit legally in a bid, you have to start the process all over again.

 

That’s another thing I was talking about too. Did any trash units sell?

They did.

We put any trash that we find into a unit and then call that the trash unit. When auctions come around, we put that up. People bid on it and clean it out.

Sometimes it’s a trash unit and then nobody bids on it. We’re like, “We know but we tried.” After they make a payment, they will have 72 hours to clean it up because that ends on a Friday or a Saturday. I’m giving everybody until Sunday night at midnight. On Sunday night, if I haven’t gotten a text message with an empty unit from them by midnight, they do not get their deposit back, which is $50. If they wait until Monday and are like, “I forgot to send this,” I’m sorry. The system cut me out and I cannot refund anybody at that point.

Do you get a lot of pushback from people who bid on this stuff? Are they pretty friendly?

It’s general knowledge. Whenever they buy an auction, they know the process. A lot of people at the beginning when we started using Storage Auctions were upset because they were used to showing up at the facility with cash and we don’t do that. They would have to go down to get a prepaid card and call us back but now, they know because it’s all over everything that we do. That’s why we have it in so many places. They know that it’s going to be a card and it’s going to be multiple charges.

They understand that’s the process at this point but we get a lot of pushbacks on deposits because we make the rule of $50 per unit. We had somebody purchase seven units in our Clarkesville location and he did not want to pay $50 for 7 units as a deposit. There was some pushback there. We ended up only making him give us three deposits but that was like cutting teeth to try to get that from him. It’s going to be your call on what you want to do and how much you’re willing to bend on deposits.

Brenda is asking, “Are you selling each unit as a single transaction?”

Yes. I opened storEDGE and went to the auction site where I still have to process some auctions. I have two here. This is B9 and B13. If someone won both of those auctions, I would have to process B9 as a charge, process B13 as a charge, and then do a separate charge for the deposit but since the deposits are retail items, I can do two of them right here.

If they have a couple of units, you can do as many as you want.

This is great because I’m only refunding one invoice for the deposits but the actual auction process charges have to be separated because they’re going onto separate accounts.

We will finalize everything. What I learned from this is the auction process is a lot of work.

It’s easy. Once you get into it and start doing it, it’s all about copy-paste, “We’re in this company. We’re in this section. We’re in here.” When I went from the certified letters to the newspapers, by the time I made it to the newspapers, I didn’t have as many units because people got a letter and they were freaking out. They call and make payments. I don’t have as long of a list.

After they see it in the newspaper, they’re like, “Oh my gosh.” I’m not taking as many photos. By the time I start getting photos and they go to their unit, and there’s not even a lock on it because they’re seeing it or they’re seeing it online, they’re like, “I need to get my stuff.” By the time we get to the actual auction day, it’s a fourth of the letters that I sent out. It trickles down.

We closed. Are you going to have any auctions for Carrollton? Pete did a lot of auctions before we even moved in.

He did do some auctions.

For one facility, there are 1 or 2 every couple of months.

Do you want to see the auction as I’m doing it?

What’s happening? If you have one facility, you’re not going to have this many auctions.

This is our Mission Self-Storage in Carrollton. I’m going to be doing an auction on November 8th, 2023. I already know that because I’ve already done it for another location. It’s a new facility. I’ll do it at 10:00 in the morning and then do an online auction.

These are all available for auction. There are a lot of people for auction right here.

That many people are going to be auctioned.

This is the one we bought.

This is Carrollton. This is how many people I’ll be putting in the auction. This is how many letters I have to send out. This is the start number.

This is around 160 doors. That’s how many auctions we’re going to have to do within the first 90 days of buying it, getting it up and running, and stuff. How many is that? We’re going to lose 21 people.

This is on the 13th. I do it on the 26th. There might be a handful more that haven’t paid for this month, which is why I wait until the 26th.

What are you doing to get in contact with them and try to get them to get paid? What are you doing for that?

It looks like Steph already tried to contact them on the 5th. They need to sign the contract and be verified. They have sent email reminders and text messages. They’re trying to get ahold of them. They have emailed them. They have been doing stuff.

For all students of StorageNerds, we’re having our boot camp. It’s on the 23rd and the 24th of September 2023. This is where Pete and I teach it. Pete teaches it. This is the stuff that we get into. It’s a management boot camp. How do you do all this? People are always worried about finding and funding the deals but the truth of the matter is what Bonnie does to manage and run all these facilities is how you make all your money. You have to make sure you’re doing occupancy, auctions, and stuff like that. That’s what the boot camp for the 23rd and the 24th is.

Hopefully, all the students are going to be at that boot camp because this is the stuff that we’re going to be getting into. At least it’s a preview. That’s what we’re going to be doing and getting into the nitty-gritty of it because this is what you’re doing. When you own a storage facility, this is the stuff that you do. Nobody ever thinks about that. Seeing the auction process, the steps, and stuff is a lot of work to me even if it’s just 1 facility with 1 auction. There are a lot of steps to be able to do that. You have to know and understand the process and how to implement it.

Bonnie is in stage four of everything. Stage one is finding a facility and getting it under contract. Stage two is onboarding that facility and getting it to where we can close on it. Stage three is Carrollton. We bought that facility. We’re trying to get it up and running. Stage four is we’re getting it up and running. We have to get the auctions out, get occupancy up, and do all this stuff.

How do we automate all that? Bonnie manages a lot of stage four. You at least get a preview of what’s happening internally for us with these sixteen facilities that we have. That’s it. Everybody, say thank you to Bonnie for hopping on. We would not be where we are without Bonnie. We appreciate everything that she does for us. Thank you, Bonnie, for hopping on even if it’s last minute.

It’s fine. Anytime. You got me out of a meeting. I’m sure Pete would have called.

He came in. He was like, “I wanted to meet Bonnie but she can go on the show.” I appreciate you. Take care. We will see you. I’ll see you in the next session.

 

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