Creating Wealth Through Self Storage

This year has been an interesting one for many of us small investors in the self-storage space. Let me share some of my challenges with you, but more importantly, a way to create the following year for you in the self-storage space. **Online Courses at The Quickstart Academy** https://TheQuickStartAcademy.com/ **Listen on Apple Podcasts** https://podcasts.apple.com/us/podcast/creating-wealth-throu...

Four hundred episodes over eight years. Here is what it looks (or sounds) like. The numbers change. The people change. But do the fundamentals remain the same? Video Link:  https://www.youtube.com/watch?v=IseSapYfcJA

How To Create A Successful Self-Storage Business Many of us get into self-storage because we are looking for freedom. Both financially and with the freedom to manage our time as we see fit. And yet, we are often even busier than ever before. But if we are not careful, one day, we wake up and wonder why we are not anxious to get up and “run” our business. Let me share a couple of things I wish I ha...

In today’s self-storage industry, one of the biggest challenges we have today as small self-storage entrepreneurs is the rising disconnect between the rates quoted by Real Estate Investment Trusts (REITs) and the actual rental prices in the market, including their own effective rental rates. Let’s look at how that affects small self-storage investors like us and a few solutions. **Onli...

Why in the world would someone ever consider a hard-money loan for refinancing a self-storage facility? Well, for a few it may not be as far-fetched as it sounds. Let’s look at a few scenarios. **Online Courses at The Quickstart Academy** https://TheQuickStartAcademy.com/ **Listen on Apple Podcasts** https://podcasts.apple.com/us/podcast/creating-wealth-through-self-storage/id1588425875 **5 KPIs w...

Let’s talk about property insurance. I don’t think many of us are prepared for the premium increases we are going to see over the next few years. The days of predictable, marginal increases are behind us; in fact, we’re now entering an era where insurance costs could skyrocket by as much as 10% to 20% annually, if not more. Let’s discuss how this could impact your underwriting and project pe...

“Is now the time to get in self storage?” I get asked that multiple times a week. Let me give you my opinion today. **Online Courses at The Quickstart Academy** https://TheQuickStartAcademy.com/ **Listen on Apple Podcasts** https://podcasts.apple.com/us/podcast/creating-wealth-through-self-storage/id1588425875 **5 KPIs we measure** https://creatingwealththroughselfstorage.lpages.co/top-5-kpi-ebook...

Let me share a case study of how a deal was done in tough economic times. I offer this not as “here is how to do deals, or here are some tips or techniques to use.” I offer this case study example to motivate you to ask different questions. It is the questions we ask ourselves that are the most important part of using create alternatives. But I am also sure you may learn a thing or two about solut...

I am starting to have fun again as I work on getting my next self-storage project. Nothing has really changed that much in the market…but I am beginning to notice a shift. Let me share with you what it is and my recommendations today as we hunt for the net deal. **Online Courses at The Quickstart Academy** https://TheQuickStartAcademy.com/ **Listen on Apple Podcasts** https://podcasts.apple.com/us...

I am starting to have fun again as I work on getting my next self-storage project. Nothing has really changed that much in the market…but I am beginning to notice a shift. Let me share with you what it is and my recommendations today as we hunt for the net deal. **Online Courses at The Quickstart Academy** https://TheQuickStartAcademy.com/ **Listen on Apple Podcasts** https://podcasts.apple.com/us...

Interest rates are going up! No… They’re flattening out and going down. No, wait… They are going up again. What is a small self-storage person to do? How can we navigate these strange and choppy waters? Let me share with you how I am doing it. **Online Courses at The Quickstart Academy** https://TheQuickStartAcademy.com/ **Listen on Apple Podcasts** https://podcasts.apple.com/us/podcast/crea...

Let me share with you an idea I got as I was working with a person I coach. It is a strategy you can deploy to come in right under the nose of the larger self storage projects in development and lease up all around you. I think this is one most of us can deploy. **Online Courses at The Quickstart Academy** https://TheQuickStartAcademy.com/ **Listen on Apple Podcasts** https://podcasts.apple.com/us...

Yes, I have a self-storage facility where there is no manager. Automation has allowed that. But, for the most part, projects I have been involved in have managers. I like managers. Let’s take a different kind of look at using managers in self-storage in the age of automation. Video link:  https://www.youtube.com/watch?v=OJKdzuXLB1Y

Yes, I see more distressed self-storage being marketed. It is actually something I didn’t see very often early in my career. I can remember telling people things like, “If you see a distressed self-storage facility, odds are you don’t want it. It is usually distressed because of fundamental reasons going on in the trade area that you can’t solve.” I don’t say that anymore. It just looks very diffe...

I have been threatening for months to release my new Fundraising Course. Well… It is ready. I am going to launch it with a live event. 10:00 AM – 1:30 PM Eastern time Friday & Saturday, August 18 & 19,2023. The course/event is called – Fundraising For The Small Self Storage Investor. If you need to use other people’s money to get in or grow your self-storage business, but it seems ov...

Im starting to see the distressed self-storage listings. I said they were most likely coming and I am starting to see a trickle of them, soon to be more. Let me share with you an example of what to look for and then go on a rant. **Fundraising Course Release Notification** https://creatingwealththroughselfstorage.lpages.co/self-storage-fundraising-course-notification/ **Online Courses at The Quick...

Online marketing has never been more critical than it is today. Especially if you are in lease up. Let me share how I approach it now, and hopefully somone will change my mind. **Fundraising Course Release Notification** https://creatingwealththroughselfstorage.lpages.co/self-storage-fundraising-course-notification/ **Online Courses at The Quickstart Academy** https://TheQuickStartAcademy.com/ **L...

A lot has changed since I first dipped my toes into the self-storage waters in 1995. Perhaps the most interesting and-fast paced changes have revolved around tech innovations. Not all tech innovations are right for your facility. Let’s look at innovations and tech upgrades we have used that made a difference. **Fundraising Course Release Notification** https://creatingwealththroughselfstorage.lpag...

Are you ready to hear what I think is critical to finding a good self storage site? I might do an episode on my philosophy of life, but this episode is not it. This episode is my philosophy of what makes a good self storage site and the demographic metrics I focus on and why. Some may disagree with this approach, but nonetheless, this is mine. Enjoy. **Fundraising Course Release Notification** htt...

We talk a lot about buying self storage in these episodes. Let’s discuss selling. In this episode, we discuss valuable insights to help you navigate the complex process of selling your self storage facility. There is a real art to this. I’ll cover the current market trends, assessing your facility’s value, implementing effective marketing strategies, and negotiating favorable dea...

There is one big benefit of having been in and around the self storage business for almost 30 years (in other words being old). You learn some lessons you did not and could not have known when you began. Let me share five lessons about self storage operations I have learned. Some of these lessons I learned the hard way. I share these with you in the hopes of shortening your learning curve and help...

If you live in Indiana, did you know the default time for being able to assess a late penalty and deny tenants access to their units has been shortened? Did you know Indiana, the time-period has been shortened between when somone is late and when a lien sale can be initiated? You would if you were a member of the Indiana Self Storage Association or the National Self Storage Association. Let me exp...

I just returned from a two week break from self storage and business I took as I traveled with my wife to Florida. I did no writing, and little real estate and calls. But I did continue my morning practices and realized just how much a certain practice has made a difference in my life and business. Let me share with you something that has had a big impact on my professional and personal life. **On...

Over the last three weeks, we have been discussing an overview of fundraising for small self storage investors getting in the business or growing their business from my perspective. This will be the last in this mini-series. I have organized this large and complicated world of fundraising into three main buckets, syndications, joint ventures, and funds. Today let’s discuss funds and starting a sel...

Over the last two weeks, we have been discussing an overview of fundraising for small self storage investors getting in the business or growing their business. I have organized this large and complicated world of fundraising into three main buckets, syndications, joint ventures, and funds (or private placements). But it does touch on the majority of ways I have seen self storage sponsors put deals...