Deciphering Cap Rates in Self Storage Investments
Introduction In the world of self-storage investments, few concepts are as widely discussed and misunderstood as capitalization rates or CAP rates. I don’t think I have really seen an accurate one in an offering memorandum since…well….ever. I’ve seen...
Why Banks Are Hard to Work With Today & One Question You Can Ask Your Lender
Have you been trying to get a loan today for self-storage? It doesn’t much matter who you are trying to borrow from. Bank, national SBA lender, CMBS, Life Company; it has most likely been challenging. Are you trying to refinance? I am sure you are experiencing...
Mastering the Art of Negotiation in Self-Storage
Given I am writing this in early Jan. 2024 and focusing on a back-to-the-basics series for getting into the self-storage industry because we have a lot of new people in the community and because I have just put out two detailed episodes on how to analyze, I thought I...How I Analyze Self Storage Conversion Opportunities Today
Let’s take a look at a video I did on how to analyze Conversion in Episode 211. Conversions are a great way to get into the self-storage business. But a lot has changed since I first recorded this episode. And yet, a lot remains the same. Let’s take a look...How I Analyze Self Storage Opportunities Today
Here is a video I did on how to analyze expansions in Episode 210. Expansions are still a major way I, and the people I work with, are using to get into the self-storage business. But a lot has changed since I first recorded this episode. Watch on YouTube And yet, a...
Self Storage Site Selection Mastery for the Small Investor
Let’s use Jan. of 2024 as a back-to-the-basics on how to get into the self-storage business or grow one in these challenging times; I thought I would talk again about what makes a good site for self-storage. I have written about it in episodes 303 and 381, but I will...
Exploring The Best Self Storage Opportunities In Today’s Market
As I write this in Jan 2024, I get asked a lot “What and where are the best self-storage opportunities today.” Another version of this question may be, “How in the world can I get into self-storage today with interest rates where they are now and construction costs so...
A 4-Step Process for Completing a Year & Creating the Next One Powerfully
Most of us who are in the self-storage business or own our own businesses set yearly goals. I recently went through the process I use prior to setting my goals with the members of our Inner Circle community, and it seemed to make an impact, so I thought I would share...2023 in the Rear View – How Are You Seeing It?
It has been an interesting year for many of us small investors in the self-storage space. I have definitely been involved in fewer deals. It is much harder to make them pencell out. I also have some that I had to walk away from. First, I am not sure what we are going...
How To Create A Successful Self-Storage Business
Many of us get into self-storage because we are looking for freedom. Both financially and in terms of the freedom to manage our time as we see fit. And yet, when we successfully close on our first deal, we are often busier than ever. At first, we don’t notice it...
Navigating the Current Self-Storage Market: The Disconnect Between REIT Street Rates and Effective Rents
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...
Hard-Money as a Refinancing Option? Not Out of the Question Today.
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. Watch on YouTube Many Could Face This Let’s say you did a value-add project in 2017 or 2018. I am going...
Navigating the Storm: The Rising Tide of Self-Storage Insurance Costs
In the ever-evolving landscape of self-storage business, owners and operators are bracing themselves for a challenging year ahead as insurance premiums continue to surge, outpacing most other operational expenses. The days of predictable, marginal increases are behind...
Is Now the Time to Get in Self Storage?
“Is now the time to get in self storage?” I get asked that multiple times a week. Unfortunately, there is no simple answer to that question. I have an opinion. But my opinion is based on my experiences and history in the space, as well as my history in commercial real...
There Is Always a Solution in Self-Storage, Even in Hard Economic Times
It was 2007, and I realized I needed to get back into the self-storage business. I had put a small portfolio together in the early 00s but ended up selling it to a fund. I did OK, but my investors at the time did great. On that 2007 morning, the economy was blowing...
Self-Storage “Bad Times?”
“Self-storage rents have dropped 20% to 30% since the start of the year.” “Sales transactions are down 57%.” “Interest rates are rising.” “Construction costs are up 40%.” Watch on YouTube These are just some of the headlines we see today in much of the self-storage...
Rediscovering How Much Fun Buying Self Storage Can Be
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. I am still writing LOIs that would equate to 7+ CAPS on my numbers (not Seller’s or Seller’s...
Navigating the Interest Rate Swirl for Small Self Storage Investors Today
Interest rates are going up! No… they’re flattening out and going down. No, wait…they are going up. There will be no more increases… Hold on… It looks like one more. No, make that at least two more .25% hikes. Life can be in flux often. But as a small buyer and...
Small Is the New Big in Building Self Storage Today
As I write this episode in 3ed quarter of 2023, we live in the shadow of many big self-storage facilities. Lots of it. Over the past eight years or so, there have been a lot of: REITs have expanded their foothold in the self-storage space. Since 2015, REITs have...
Self-Storage Managers in the Day of Automation
Yes, I have a 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. I like the level of customer service a good store manager can provide. So, for the most part, I...
Unlocking Opportunities: Navigating the Current Landscape of Distressed Self-Storage Investments
Yes, I am seeing 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 Self Storage Opportunities
I’m 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. Keep your eyes open. Watch on YouTube Example: Yesterday I saw a listing, unpriced, of course, with a call for...
A Different Approach to Using Google Marketing to Attract Customers
When coaching people on their self-storage journey, I often say, “I reserve the right to be wrong.” I am going to say that here as well. Anything I say in this episode could be wrong, and I may change my mind later. I hope someone in the industry reads this and...
Innovations in Self Storage: Leveraging Automation and Innovations for Growth
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. I have often said that one needs to...
My Philosophy on Site Selection and Feasibility Analysis for Self-Storage Facilities
I hear it almost daily from someone, “I see self-storage facilities everywhere.” If you’re considering entering the self-storage industry, or for those of us in it and growing our business, one of the most critical steps is selecting the right site...
Exit Strategies and Valuation: Preparing for a Successful Sale of Your Self Storage Facility
We talk a lot about buying self storage in these episodes. Let’s discuss selling. Believe it or not, there is a skill to successfully selling a self storage project and maximizing your returns yields for your partners and investors. Like most things in my life, I have...
Headache Averted: 5 Lessons Most Self-Storage Operators Learn the Hard Way (But Not You)
There is one big benefit from 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 of the lessons about self storage...
Join Your State Self Storage Association (At Least)
If you live in Indiana, did you know the default time for assessing a late penalty and denying tenants access to their units has been shortened? Did you know Indiana, the time period has been shortened between when someone is late and when a lien sale can be...
The Practice That Has Made the Most Difference in My Life and Success
I just returned from a two-week break I took as I traveled with my wife to Florida. I did no writing and few real estate and calls. But I continued my morning practices and realized just how much meditation has made a difference in my life and business. I hesitated to...
Fundraising 101- Pt. 4 – Funds
Over the last three weeks, we have been discussing an overview of fundraising for small self storage investors getting into the business or growing their business from my perspective. This will be the last in this mini-series. I have organized this large and...
Fundraising 101 – Pt. 3 – Joint Ventures
Over the last two weeks, we have been discussing an overview of fundraising for small self storage investors getting into the business or growing their business. I have organized this large and complicated world of fundraising into three main buckets, syndications,...
Fundraising 101- Pt. 2 – Syndications
Last week, I introduced self storage Fundraising 101 and discussed three main types of raising capital for self storage investments. I have organized this large and complicated world of fundraising into three main buckets, syndications, joint ventures, and funds (or...
Fundraising 101- Pt. 1 – Overview of Deal Structure Types
As a small investor who raises money for equity in the deals I do and as a self storage coach who helps people get into the self storage business who often have to raise money, I have seen a lot of deals and deal structures. Of all the training I have attempted to...
Economic Data Interpretation from a Self Storage Person…Not an Economist Pt. 2
Last week, as a self storage person, not an economist, I shared my ideas on inflation. Inflation is the driver of what is happening to our economy at this moment in time. I also suggested, to whatever degree possible, that we put aside our political leanings because...
Economic Data Interpretation From a Self Storage Person… Not an Economist PT. 1
Yes, I am a self storage person interpreting the economic data points and sharing how I see it fitting into our area of interest, self storage. Now depending on which news silo you get most of your “news” from, you hear vastly different interpretations of economic...
The Self Storage Fundraising Mindset Series – Mindset Is Everything – Mindshift #3
In the world of self storage, fundraising for self storage, or any other worthwhile endeavors, one needs to know what to do, but the most important aspect of success is one’s mindset. One’s thinking. Watch on YouTube Most people are not present to it, but you’re...
The Self Storage Fundraising Mindset Series – Mindset Is Everything – Mindshift #2
Last week I introduced the idea that no matter what the industry, or niche in any industry, the more I hang around people who are at the top of their game, the less they discuss tactics and strategies, and the more they discuss the breakthrough they had in their...
The Self Storage Fundraising Mindset Series – Mindset Is Everything
I have been threatening to create a course on Fundraising For The Small Investor In Self Storage for years. I am in the process of doing so now and will also be speaking on the subject at the April 2023 ISS (Inside Self Storage) Expo and Convention at Ceases Palace in...
Three Additional Things to Ask For Before You Engage a Feasibility Report
Do you know you can talk to the person you hire for a self storage feasibility report and ask them to focus on a few additional things before you engage them? At least I do. So far, it has worked. Now every feasibility report (at least good ones) will have basic items...
A Quick Tip on Getting Creative When Doing an Expansion
As I discussed last week, I love doing self storage expansions. But sometimes, as I analyze an expansion and run a preliminary analysis figuring out how much additional self storage I can get on the excess land, the numbers still don’t work very well. It’s not a deal...
Three Mistakes to Avoid When Underwriting an Expansion Today
Last week I told you I love self storage conversions. I also love self storage expansions. Like conversions, we have made a lot of money for my family, partners, and investors. I have also seen many people I coach and train do well with expansions. But I have seen and...
The Top 3 Mistakes People Make When Converting Self Storage
I love self storage conversions. I have made more money on self storage conversions than any other form of self storage projects I have done. That doesn’t mean conversions are all I do in the world of self storage, but I really enjoy conversion projects or...
The Number One Rule for Selling a Self Storage Project
I have written and talked a lot about buying self storage. I figured it was time I wrote about selling self storage along with my number one rule for selling a project. As many of you know, I talk a lot about your “why.” The reason you are getting into self storage,...
Supply and Demand Variables Besides Sq. Ft/ Per Capita – Is It Time to Revise Our Thinking?
About twice a year, I get on my soapbox and pontificate about using sq. ft/per capita as the sole and primary basis for determining self storage supply/demand in a market or trade area. It’s that time of year again. Watch on YouTube And like all human beings, I love...
This Thanksgiving I Was Grateful for the “Slowdown” in the Self Storage Space
Is there really a slowdown in the self storage space due to rising interest rates? There appears to be, but for me, at least, the total picture isn’t quite in yet. Like our world today, the self storage industry is a mixed bag of contradictions. As small investors,...
Are You A Self Storage Developer or Operator?
I have noticed an interesting thing as I have coached and consulted people over the years getting into the self storage business. Usually, someone early in their self storage journey is attracted to the business because of the anticipation of the freedom running their...
Debt During Inflationary Times
There is a lot of grinding of teeth and wringing of hands around rising interest rates and buying self storage today. I don’t want to minimize the impact higher interest rates can have on projects and underwriting them. Today, more discipline in underwriting is...
How Much Money Does It Take To Get into Self Storage?
I get asked many different self storage questions, but this one seems to come up a lot. Here was the exact question: “Hi Mark, …The biggest hurdle I am trying to overcome is determining how much money it will cost to start a facility from scratch. I know this cost...
Case Study of a Student
Let me tell you about Fred’s (not his real name) story and how he got into self storage. Over the next few episodes, I will interview some previous students and/or tell the story of a few students I have worked with, so some of you may see yourself in them. Fred was a...
Is Self Storage Still a Good Investment for Small Investors Today?
I get asked this question a lot today about self storage. “Is it still a good investment for small investors?” Or a question like, “Didn’t I miss when I should have gotten in 20 years ago?” Well, let’s look. Watch on YouTube Two Main Parts to The Question There are...
So Much Self Storage Data – Keep It Simple
Yes, self storage has performed well during past recessionary times. But past performance is not indicative of future performance. At least, that is what my LLC documents say. How many of you were in the self storage business during the ’08 recession? I was....
Self Storage as a Retirement Vehicle
I was asked to write an article on self storage as an investment vehicle to fund one’s retirement. I almost turned down the assignment because I have such a strong opinion about the retirement and wealth advisors industry. I need to say I am not an investment advisor....
Our Number One Source Of New Leases
For most of our facilities, in 2020 & 2021, what do you think was the number one source of new leases? If you guessed the internet, you are close. In fact, for some facilities, it was, in some quarters. But as a portfolio, what is the number one source of our new...
Our Number One and Two Sources of Referrals
“Referrals” as a source of new self storage leases average between 10% on the low end to 40% on the high end per quarter between 2016 and 2021. We do our best to track everything, including where our new leases come from, and referrals have always been a very high...
Choosing the Right Add-on Revenues for Your Self Storage Facilities
If you do it right in your self storage facility, you can create a lot of additional income and value for yourself by having the right additional sources of revenue. Even in managerless, automated projects, one can create a high percentage of additional revenue. But...
Will Rising Interest Rates Cool Off the Self Storage Market?
Will Rising Interest Rates Cool Off Self Storage Market? Or at least the acquisition side of it? In my opinion, that wouldn’t be all bad. But I have my doubts. Yes, yield curve inversion, a classic recession indicator, fired up in early July, but other “recessionary”...
Better Safe than Sorry – Self Storage Security Options
Jonathan, the person who works with me on providing the content I produce supporting small investors getting in, or growing their self storage business, suggested I consider writing something on security options for people building or rehabbing a facility. It always...
A Quick Way to Increase Retail Sales
This self storage episode will be short but could be worth, let’s say, $40,000 of value. Perhaps worth reading. I am talking about a way to increase retail sales. No matter where we are in retail sales in any given facility, we always look to improve it. This amount...
Back to Self Storage Reality?
I was reminded by a friend and someone I have been working with for a number of years just how naive I was four or five years ago about the self storage industry. I remember writing and saying, “With all the data and technology available today, there is no need for...
Is Customer Service Dead in the Age of Technology in Self Storage?
The self storage business is competitive. Lots of new space is coming or just came online. Probably in your market. Much of our strategies as small business owners and small self storage operators is to automate and cut down on payroll cost to be competitive and take...
How You Can Create an Additional $292,000 of Value on Your Next Self Storage Purchase
Let me show you how you can create, let’s say, $292,000 additional value on your subsequent self storage acquisition of, let’s say, a 365-unit self storage facility. I’m talking tenant insurance. Yes, I know you are either saying, “tenant insurance is in the Offering...
Financial Literacy
I recently gave a talk at the 2022 Inside Self-Storage Convention and was asked to write a follow-up article on Financial Literacy. The talk was titled “Reading Your Financial Story, Interpreting Your Self-Storage P & L’s And Other Financial Statements.” I am...
The Leadership Series – Creating Company Culture
This is the final episode in a series on leadership development inside a self storage business. Remember, no matter where you are in your self-storage journey, owning a portfolio of facilities, or just starting, you will be creating a culture as you get in the...
The Leadership Series – The Art Of Delegation
In this third episode in the Self Storage Leadership Series, I want to talk about a trait an effective Leader has that has always been elusive to me… The Art of Delegation. I call it an art because it requires almost an intuitive skill, in my humble opinion. I believe...
The Leadership Series – Putting the Right Team in Place
As a self storage owner or soon-to-be owner, you will need the right team assembled. I discussed this in detail in Episode 331. We talked about the team members, the roles or spaces that we need to get covered, and the possible ways (hint: 3 different ways to assemble...
The Leadership Series – Become A Great Story Teller
After returning from the recent ISS 2022 Expo in Las Vegas, I am more convinced that effective self storage company leaders who are moving the needle in their companies and the industry are great storytellers. I know with every fiber in my being that it does not...
Always Begin With The End in Mind
When my Grandson Jackson was in the first grade, at his first “Leadership” day at his school, he informed me that he would start college in 2025. I don’t even think he knew what college was. Many people I work with say they are getting into the Self Storage Business....
The Self Storage Property Tax Challenge Today
Nothing other than perhaps online marketing has risen as fast for self storage owners as property tax. And that number is much larger than the marketing cost. I am convinced that when Property Valuation Administrators have their conventions as we do, they talk about...
Housing Demand and Self Storage Demand Are Linked
As I am looking at a self storage project, I have noticed (1) apartment rent growth in the market and (2) housing demand. I am clear there is a link between the two and self storage demand. I am just not able to have a formula that quantifies how much the impact is on...
Be Careful When You Read Industry Statistics
Given the tight nature of the self storage market, as small investors, we are searching for any idea, lead, or data point to help us get in or grow our self storage business. I read the industry papers as they come out. Recently I read the Marcus & Millichap 2022...
Inflation – The Good, Bad, & Ugly for Self Storage Owners
As self storage owners, we hear a lot about inflation today. What does it mean for us? Well, in my opinion, it is a mixed bag. I should start by saying I am not an expert on much in life, especially not the economy. There is no reason why you should listen to anything...
You Can’t Do It Alone – Build Your Team
Most people I work with getting in the self storage business are individuals who think they are solo entrepreneurs getting in storage. It often takes a while to realize they are not. There is no way. Yes, you may not have employees or partners…but I guarantee you, you...
Relationship Between Apartment Rents and Self Storage Rents? Perhaps.
Something was brought to my attention by someone I have a self storage coaching relationship with between apartment rents and storage rents. Specifically, this relationship can impact self storage demand in a market area. Said another way, how this relationship can...
Practices for Self Storage Entrepreneurs to Develop Series. Practice Four: Be Competitive… But Develop an Abundance Mindset
This is the fourth and final episode in a series entitled Practices For Self Storage Entrepreneurs To Develop Series. Given the state of the self storage industry today, and the unique challenges, I thought I would share some of the best habits, mindsets, or...
Practices for Self Storage Entrepreneurs to Develop Series. Practice Three: Develop Patience … But Move Quick
This is the third episode in a series entitled Practices For Self Storage Entrepreneurs To Develop Series. The older I get, the more I realize how life can occur like a contradiction. Like the last practice we discussed, “analyze … but don’t over analyze.” Let’s...
Practices for Self Storage Entrepreneurs to Develop Series. Practice Two: Analyze…But Don’t Over-Analyze
This is the second episode in a series titled Practices for Self Storage Entrepreneurs to Develop Series. Given how fast we have to move to control storage opportunities in today’s world, I think a few ideas on best practices could be helpful. In last...
Practices for Self Storage Entrepreneurs to Develop Series. Practice One: Specialize…Don’t Diversify
Practice One: Specialize…Don’t Diversify The investment world tells us to diversify, don’t put all your eggs in one basket. I guess that’s good advice if you are a passive investor. However, I am very leery of “investment advisors,” who...
Back to Basics Series for Small Investors Getting into Self Storage – Number Four
I believe that getting in self storage is no different than anything else in life. Those who are successful today at getting in or growing their business are those who will take action. The specific knowledge and actions required in self storage may be different from...
Back to Basics Series for Small Investors Getting into Self Storage – Number Three
Let me introduce you to Fred (not his real name). When we connected on a phone call to see if the Bootcamp training was right for him, he had a residential real estate background. He owned a residential real estate brokerage company and a few residential investment...
Back to Basics Series for Small Investor Getting in Self Storage – Number Two
Let me introduce you to Jim (not his real name). When Jim and I connected, he had invested in houses and apartments, had had some success, but thought self storage would be a better use of his time. He wanted to get away from all the management issues involved in...
Back to Basics Series for Small Investor Getting in Self Storage – The Opportunity
Over the past few years, a lot has changed in the self storage industry. As a small investor, what we are doing now to get in or grow our business is very different from a few years ago. I thought I would start 2022 off with a Back To The Basics series, showing the...
Raising Investment Money For Self Storage Series – #5 – How
This is the fifth and final m in a series of episodes exploring the world of raising investment capital for those of you wanting to use other people’s money to get in and grow your self storage business. In Episode 316, we had a quick look into who “investors” are,...
Raising Investment Money For Self Storage Series – #4 – When
This is the fourth in a series of episodes exploring the world of raising investment capital for those of you wanting to use other people’s money to get in and grow your self storage business. In Episode 316, we had a quick look into who “investors” are, what they...
Raising Investment Money For Self Storage Series – #3 – Where
This is the third in a series of episodes exploring the world of raising investment capital for those of you wanting to use other people’s money to get in and grow your self storage business. In Episode 316, we had a quick look into who “investors” are, what they...
Raising Investment Money For Self Storage Series – #2 – What
This is the second in a series of episodes exploring the world of raising investment capital for those of you wanting to use other people’s money to get in and grow your self storage business. Last week we had a quick look into who “investors” are and what they...
Raising Investment Money For Self Storage Series – #1 – Who
In the next few episodes, I will go into a little more detail than I have in the past about how we have raised investment dollars to buy self storage. I do not consider myself an expert, and I am just sharing what I/we have done. Always have a good attorney who is...
What Is Your Real Cost Of Capital When Buying Or Building Your Next Self Storage Facility?
My cost of capital is one of the metrics I use today when buying self storage. I have said this before and don’t think any idea I have ever discussed has caused more head-scratching. First of all, many don’t understand the concept and at the same time,...
What I Look For Today in a Self Storage Trade Area
Today, it is more critical than ever to make sure a trade area is healthy and ripe for self storage as you are considering buying, building, converti9ng, or expanding in a particular trade area. It has always been important, but never more than today. So, when I say...
Is Sq. Ft. Per Capita Still the Best Measurement for Self Storage Supply/Demand Analysis?
Over the past few years, I have been questioning if the standard measure we all use, how many square feet of self storage per person exists in a given trade area, is the best measure to determine the supply/demand of that trade area. What I am noticing is that in many...
It’s Time to Create Next Year’s Budget & What Most Storage Owners Miss
It’s that time of year. It’s time to begin creating your 2022 self storage operating budget. I want to take a slightly different approach than most people. There are a lot of good articles out there on how to create a budget. I would rather focus on a...
Begin With the End in Mind When Creating How You Will Get In or Grow Your Self Storage Business
I recently was on a panel discussion at the SIN Summit (Self Storage Investor Nation). One of the panel members was talking about Beginning With the End In Mind when it came to getting in (or growing) your self storage business. I did an entire series on how I use the...
How to Use Some of Today’s Challenges to Your Advantage as You Buy Self Storage
As a small investor, are you sometimes wondering how in the world you can compete with all the bigger players buying up storage facilities in the market today? Just look at this random screen shop from the ISS website. I in no way organized it. This is just what...
Don’t Put Your Self Storage Dreams on Hold
It can be frustrating trying to get in or grow your self storage business. I know. I am experiencing it myself. We have been selling a lot of self storage. I have investors in most of my deals, and we have a fiduciary responsibility to maximize investor returns. That...
How Parking Could Support You Today in Getting in Self Storage
Sometimes it is hard today to find deals that could work as you look at buying and getting in the self storage business. Let me give you an example of how parking can sometimes support you. I analyze five to ten deals per week most weeks, and I ran across one a few...
How in the World Can I Buy Self Storage Today, Given the Prices?
It is challenging today to purchase existing self storage—no doubt about it. But can we small investors do so. And do it in a way that cash flows and gives us the returns we need? Yes, you absolutely can. It is done every day. However, it requires more work than it...
Becoming Masterful at Reading Financial Statements in the Self Storage Business
Remember, according to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn. And yes, the primary reason companies fail is they run out of cash. Warren Buffett says, “The language of business is...
All Cash Is Not Created Equal
Remember, according to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn. And yes, at surface level, the primary reason businesses fail is they simply run out of cash. Here are a few other...
What Your Profit & Loss Statement Doesn’t Tell You
It’s amazing how many of us in the self storage business don’t know much about financial statements and financial literacy. I had a big learning curve and still am not as strong as I could be. But then again, balance sheets and profit and loss statements are not very...
The Four Elements That Make a Good Self Storage Site
I recently was traveling looking at some sites for some self storage projects and thought it might be good to write an episode outlining what I think makes a good site. I have made some real mistakes on this in the past. There are four main elements that make a great...
Free video series
Start with Mark's free 3-part video series
How Mark approaches finding, analyzing and getting into self storage, in three short videos.
Watch the free series