Table of Contents
Short answer: On a recent acquisition, Mark used AI tools (Claude and ChatGPT) to build the due diligence date checklist from the contract, combine partners’ pro formas, turn inspection reports into reserve budgets, review seller vendor contracts, and draft a first-90-day operating plan. He still checks the output himself.
How Mark used it #
- Critical dates. Uploading the signed contract produced a due diligence checklist with every deadline, updated when the official start date changed. Minutes instead of an hour or more.
- Pro formas. Two partners’ pro formas combined into one in Mark’s format, with feedback on assumptions as real numbers came in, including suggested changes based on the feasibility report.
- Reserve budgets. Inspection and building reports turned into a maintenance schedule and monthly reserve amount, adjusted for inflation.
- Vendor contracts. Pros and cons of the seller’s contracts, how to exit them, and possible alternatives, which his team then verifies.
- Operations. Monthly management summaries analyzed, and a week-by-week first-90-day plan with benchmarks for the manager.
- After closing. Monthly reports compared against the plan, and drafts of quarterly updates to partners and investors.
Mark uses paid subscriptions partly for privacy, takes most suggestions but not all, and treats AI as a tool and advisor rather than a decision-maker. Legal, tax and financing questions still go to the appropriate professionals.
Related answers #
- How can a smaller buyer find off-market self-storage deals?
- How is AI changing self-storage operations?
- How should self-storage operators choose and vet vendors?
Source: Mark’s post AI in Action: How I’m Using It Right Now to Move Through Self-Storage Due Diligence
