342. How to Be Successful in Self Storage (3 Things That Make The Difference)

There are three crucial things every self storage investor must pay attention to when building their portfolio. These are the things that helped me scale a $300M+ self storage business and grow through the Great Recession, the pandemic lockdowns, and every downturn and upturn in between.
If you get these three things right, you will be successful in self storage. Even better news? There's a huge buying opportunity right now (with more on the way).
I’ll outline everything from your self storage market, to the operations and tech you should use, to the structure of the deal (I’ll even share how much debt I have and how I structured it) so you can survive the down times, thrive during the good, and grow in the middle.
Plus, I’ll share how we’re “making” deals right now and getting facilities 40% under replacement cost with millions in walk-in equity. I wish someone had told me all this when I started, but now, I’m giving it to you in under half an hour.
What you’ll learn in today’s show:
The three things that make a self storage facility successful
Huge buying opportunities happening right now that 99% of people are missing
Measuring supply and demand: how to know your facility’s rates can grow
The technology we’re using right now to automate self storage facilities in our portfolio
How to structure debt, loans, and capital when buying a facility (exactly what I do)
The due diligence clause you need to add in every self storage offer you make
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Grab AJ’s Book, Growing Wealth in Self-Storage 2.0 - https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic/dp/1735258865
TractIQ - https://tractiq.com/
Nokē Smart Entry - https://www.janusintl.com/products/noke
Hummingbird by Tenant Inc. (Self Storage Software) - https://www.tenantinc.com/products/hummingbird