Creating Wealth Through Self Storage

Well…it’s the last quarter of 2026, and on the self-storage front, it does not appear like I will hit my targets for this year. Let me share with you a few ideas on what I do and why. Perhaps this could help you if you don’t meet your goals or feel you are not living up to your potential. This process has made all the difference for me over my career. New to self storage? Start here: Mark’s...

The self-storage industry is evolving fast, and one of the biggest challenges we struggle with is financial modeling today. If you are in the acquisition business of self-storage, you have subscriptions to data platforms. We use the data to make assumptions such as rental rate, market health, how fast a project will absorb new square feet, etc. Next, we plow those assumptions into Excel or somethi...

I will admit that a few years ago I was scared of competing in a market against REITs. Well, yes, they have a lot more money than I do, and yes, I had my doubts about whether I could compete for the same customers and win. Those days are over. I am clear that smaller facility owners who are willing to learn and play the game can go head-to-head and win. Also, there is a free download you can get w...

One of the advantages of being a smaller self-storage operator is that — unlike the REITs and larger players who focus on their investors and stockholders — we can focus on the real source of our success: our customers. I found the StorageCafe (an online marketplace for consumers) newly released survey on self-storage in 2026 very interesting. Let’s explore the results and what they can mean for u...

As I look to the future, as I regularly do as a business owner, I realize that the self-storage business of the past will most likely not be the industry of the future. Let’s jump into the time machine and take a look at self-storage in the years ahead. Hint: To a large degree, this future landscape is already here. Don’t tell anyone. **My latest book, The Creative Method of Wealth Generation** **...

Let me tell you why I am not a big fan of large storage funds. I was recently reminded of this when I read an article in the ISS Newsfeed. We have got to do something to restore the image of our industry and I think the time to start is now. Let me explain in this episode. **My latest book, The Creative Method of Wealth Generation** **Self-Storage Turnaround Playbook** https://creatingwealththroug...

I don’t see owners utilizing landing pages that much anymore in online self-storage marketing, and I am not sure why. I suspect it is because it has been beat into our heads that reduced clicks for consumers is the holy grail for online marketing success. Now I am all about reducing friction to renting units online, but let me tell you why I am still a firm believer in landing pages. Even today! *...

It has been a while since I used an SBA loan to develop some storage, but I am in a deal where we are using it now for a boat and RV development. We are racing to get it closed by Sept. 14 because the deal was underwritten at today’s interest rates, and if rates go up and the deal is not closed…well, it has to be underwritten at the new rate. Let’s look at 2 key reports I have been keeping a watch...

I have made a lot of mistakes over my business career and done a few things right. Fortunately, it only takes a few good decisions, and some grace from the universe, to be successful. But if there is one lesson I wish I had learned early in my career, it is… in this episode. **My latest book, The Creative Method of Wealth Generation** **Self-Storage Turnaround Playbook** https://creatingwealththro...

As I move through some of the various deals I am involved with today, the markets and the deals themselves are changing at a very rapid pace. Let’s look at what is behind these changes and the big advantage this current environment can offer the smaller investor/operator. I think you may be surprised. **My latest book, The Creative Method of Wealth Generation** **Self-Storage Turnaround Playbook**...

I think trying to find off-market listings is hard as well today. As a storage owner, I get, on average, 10 texts a week, lots of letters a month, and perhaps one to two calls every week or so about selling my facility. Some inquiries even come for properties I sold years ago (not sure what lists out there show us as owners). The reality is, for the most part, the way most of us try to connect wit...

We all know how AI is changing the self-storage landscape. Others smarter than me have talked about using chatbots for storage answering services, AI in revenue management and tenant data analysis (determining which tenants can pay what rate based on behavior), and many of the tools savvy operators in the industry use today. Let me give you a real-life example of how I am using it today as I move...

After over forty years in real estate and the self-storage business, I have learned a few things about business that I am sharing as I hover around this 500-episode mark. I guess we could call these episodes “What I’ve Learned About Wealth, Business, and Life.” This also coincides with my newly released book, The Creative Method of Wealth Generation. Let me share with you five things I...

As I hover around the 500-episode mark, I am apparently becoming more philosophical and want to share some insights I have gained over the last ten years or so in the storage business. I’ve talked about the five biggest mistakes I have made in my career and the five decisions I have made that helped me create my first millions in wealth. In this episode, let me share with you five things I have le...

Here I am at Episode 500. On one level, it means nothing, really, but on another, it shows I can stick to something for a long time and/or you can hang in there with me no matter how bad or off I can be at times. I hope you have received some value from these episodes. Last week, I discussed some of my flaws and how they translated into some of the biggest mistakes I have made in my self-storage c...

As I approach Episode 500, I have been thinking a lot about the self-storage business and my thirty-one years in and around the industry. I was thinking about what I could share that would be helpful. I had two startling insights. The first was that what would be most helpful is not what I’ve done right, but more importantly, the biggest mistakes I have made. The second was, as I wrote them out, t...

There has never been a moment in self-storage history where the gap between well-chosen vendors and poorly chosen ones mattered more than it does today. We are currently choosing our vendors for a new brand and have discovered one thing… Vendors today can make or break you! Let me share with you what I mean. **Self-Storage Turnaround Playbook** https://creatingwealththroughselfstorage.lpages.co/ep...

You have heard of SEO, pay-per-click, Google algorithms and the gambit of online marketing terms. There is a new but vitally critical term you have got to understand today…the new world of GSO. Although you may be tired of hearing about AI and how it applies to your self-storage business, their AI hole is only getting deeper. If you haven’t already, it’s now time to embrace it and begin to underst...

In the most recent ISS Expo I attended, once again I saw that Millennials have become 20% plus of self-storage customers, up from about 16% a year ago. I remember some of the stereotypes many had a few years ago about the millennial generation: • Avocado toast and $7 lattes. • Lazy and entitled. • Failure to launch. Now, given that they are becoming an increasingly larger percentage of our custome...

I hear partners, people I coach, and investors ask the question, “How can a smaller independent owner compete today with REITs or a big institutional player today? They have a lot more money and people, and their cost of capital is so low.” Valid question, but the reality is, it’s not that hard to outperform them. Their size also creates inherent weaknesses. Let’s take a look at what they mi...

It’s time to talk about square foot per capita again. I have run into more and more issues with that metric and think it is time to permanently interrupt the myth that still pervades our industry. That myth is: ….. {explained in video} **Self-Storage Turnaround Playbook** https://creatingwealththroughselfstorage.lpages.co/episode-476-four-steps-i-use-to-revive-a-self-storage-facility-non-fb/ **Sta...

Let’s look at ways to reduce our insurance cost in 2026 and beyond. This expense line item is doing nothing but going up. Last week we had Terry Campbell of Johnson Insurance visit us in the Inner Circle. Here are some of the tips he gave us last Friday. I think you may be able to get some solid things to do that will help you reduce your operating expenses by controlling this line item. **Self-St...

Finally! U-Haul’s President and CEO Joe Shoen took a public stand in opposition to the deplorable pricing practices most of the bigger REITs and institutional players use today, with the absolute worst being Extra Space in my opinion. I am talking about the bait and switch tactic of luring customers in with lower rates, then raising them exponentially, knowing it is difficult for many customers to...

A few weeks ago we had a three-part series on Revenue Strategies designed for 2026. Now let’s focus on the expense side today. Today, let’s go over the expenses I think can be impacted in 2026 and a few general ideas and practices I might recommend doing to achieve that. I think you may have more impact than you may initially think. **Self-Storage Turnaround Playbook** https://creatingwealththroug...

I am in some partnerships that will be taking over some facilities and doing some expansions. So I have been thinking through some of the spaces our team will have to go through as we prepare to bring these projects online. Given the purpose of these episodes is to learn out loud what we do in the self-storage industry, I thought this would be a fitting episode for early 2026, especially if you ar...