Don’t Panic…Here is What To Do When A New Self Storage Facility Opens in Your Submarket
Here are action steps to take when a new large self storage competitor opens up in your market.
Getting Started Series-How To Put A New Facility Into Service
This episode completes the Getting Started Series for Self Storage Buyers Today. Here are some best Practices for putting your first or next self storage facility into service. This episode covers what to do and not do prior to the closing, day of the closing, and the first month after the closing.
Part 2: Getting Started Series-Best Due Diligence Practices Today For Self Storage
So we now have a self storage project under contract! Way to go! In last week’s Episode, we covered the first few spaces a self storage buyer goes through today to get to the finish line and either close on the project or let it go. In this Episode, we are going to...Getting Started Series – Best Due Diligence Practices Today For Self Storage
You now have a self storage facility under contract. Congratulations. Now what? This is where it can be exciting, scary, thrilling, and the most fearful thing you have ever done all at the same time. That’s normal, especially of it is your first self storage facility....Getting Started Series-Best Practices for Getting A Self Storage Deal To Stand Still
In today’s self storage business climate, reasonably priced deals don’t stay on the market long. If it is a facility your are interested in, it is critical that you control that property as fast as you can. “Deal Mode” This is the second stage...
Getting Started Series- Self Storage Investing First Steps
Once you find a self storage deal that looks good to you as your start self storage investing, my coaching is to quickly jump into deal mode. What is important as you enter deal mode is to know the steps, or more accurately said, the spaces of a deal. As I have...
Getting Started Series – Inside Scoop On How To Created More Self Storage Deals To Look At Than You Can Imagine- 129
Let’s discuss developing your skills of getting in front of good self storage deal flow.
Getting Started Series-The Most Important Part of Your Self Storage Strategy -128
The quality of your life is a function of the questions you ask yourself. When I ask people why they are getting in the self storage business, I usually hear answers like: “It is a good sector”. “I hear it is doing well today”. I often hear...
Getting Started Series – Self Storage CAP Rates Today & How To Relate To Them
“The Market is cooling off.” “Interest rates are going up.” “CAP Rates are going up.” We hear all kinds of projections from experts about the self storage industry today. However, nothing probably the most often used and least understood financial term is “CAP...
Part 5. Self Storage Marketing Series-Where Does Your Self Storage Facility Show Up?
Perhaps the most important thing for your self storage facility is to end up on the first page of Google when people search for self storage in your area. In terms of finding new tenants, other than a fantastic retail like location, I can think of nothing else today....
Part 3: Self Storage Marketing Series – Do You Know How to Find Your Customers Online?
We are now on the third step of how to run a simple Facebook paid ad campaign. If you missed Steps One and Two, click HERE for last week’s episode. So far we have designed an offer, or a few offers, we think will appeal to people in our facility’s market area. ...
Part 2: Self Storage Marketing Series – Do You Know How to Find Your Customers Online?
We are discussing how to advertise our self storage facilities online in today’s world. It is a subject I didn’t want to learn but had to out of necessity. I want to share what I have learned and applied so far in the world of online marketing for self storage....
Self Storage Marketing Series – Do You Know How to Find Your Customers Online?
Like I discussed last week, we track everything in our self storage business. We know where every new customer comes from. Each self storage facility is slightly different, but what is interesting is we can follow the trends and they are almost exactly the same....
A Simple But Effective Exercise To Grow Your Self Storage Business The Smart Way
Last week we discussed systemizing your operational systems and procedures. That one business concept can do so much to add value to your self storage business. We also had a five-episode series on how to create a lens into your business by learning how to read and...
Have You Systemized Your Self Storage Operations? Do You Know Why You Should?
Most people would say there is a big difference between a self storage facility and a McDonald’s restaurant. But is there? I love using McDonald’s as a benchmark company because everyone knows who they are. They were also one of the first to systematize their...
Do You Know What Story Your Numbers Are Telling You? Self Storage Finances Series – Part 5
We are back to where we started as we begin the end of this series on self storage finances. Hopefully, you are starting to understand what the financial reports for your business are telling you. Or the reports your soon to be business are generating. I realized I...
Do You Know What Story Your Numbers Are Telling You? Self Storage Finances Series – Part 4
Welcome to week four of the Self Storage Finances series. Here are the three statistics we have been discussing. 90% of all business fail within 10 years. The average swing from the bottom of an economic cycle to the top is ten years. 90% of all business owners don’t...
Do You Know What Story Your Numbers Are Telling You? Self Storage Finances Series – Part 3
Remember the 3 statistics we discussed last week? 90% of all business fail within 10 years. The average swing from the bottom of an economic cycle to the top is ten years. 90% of all business owners don’t read, or don’t know how to read a financial statement. We are...
Do You Know What Story Your Numbers Are Telling You? Self Storage Finances Series – Part 2
Over 90% of all business that are started today will fail within ten years. And don’t fool yourself, self storage is a business. Yes, it is real estate play but it’s also a business. In many ways, we are double exposed. We must have real estate knowledge as well as...
Do You Know What Story Your Numbers are Telling you? Self Storage Finances Series
I am amazed at the number of self storage owners, and business owners, that have little or no financial knowledge. I am no expert in reading financial statements. And I have struggled in the past with knowing the numbers for all of our facilities. But I have learned...
How to Build Trust Authentically and Genuinely in Your Self Storage Business
Whether you already own self storage facilities or you’re just getting started in the business, you ARE a business owner. There is a skill that is imperative for all business owners: The ability to Build Trust. Authentically and genuinely Build Trust. Every...
The 3 Key Practices to Build Trust with Your Self Storage Investors
I have learned so much more from the investors who work with us than they ever have from me. Much of it I shared last week in Episode 112. I discussed some of the metrics, benchmark numbers, and issues I’ve learned our investors are interested in. If you put yourself...
How to Work With Investors to Raise Capital for Self Storage Facilities
The number one area of interest for people that reach out to me is how to work with investors to raise capital for self storage facilities. I attract those type of question so often, I wrote about it in my book Creating Wealth Through Self Storage. At that time, I...
Part 2: The Number One Obstacle to Growing Your Self Storage Business
What is the number one aspect of the self storage business that stops people from starting or expanding their business? If you read or watched last week’s episode, you know what I think it is. Fear! I have seen fear paralyze people from taking the next step, or any...
The Number One Obstacle to Growing Your Self Storage Business and Five Simple Practices to Overcome It.
I write about many aspects of the self storage industry on this blog. I have detailed episodes on how to buy facilities in an overpriced market; how to spot, analyze and buy value-added opportunities; how to unlock bank financing, and more. But here is what I see is...
Good News for the Value-Add Investor From the 2017 Inside Self Storage World Expo
A big part of a leader’s job is to look into the future and predict what is coming so we can effectively prepare our company and people for it. If you are starting or growing your self storage business, you are the Leader. There is no better way to see trends and get...
Part 6: How to Analyze Self Storage Properties for Maximum Profit in a Sellers Market
Today we conclude out series on “How To Analyze Self Storage In Todays Market.” After this episode, you will have all the tools you need to find and analyze self storage opportunity’s for maximum profit in the seller’s market we find ourselves in today....
Part 5: How to Analyze Self Storage Properties for Maximum Profit in a Sellers Market
Are you ready to get in the self storage business today? Are you ready to grow your self storage business today? Yes, it is an overpriced “Sellers Market”. But that doesn’t have to stop you even if you’re brand new to the self storage game. If you know how to analyze...
Part 4: How to Analyze Self Storage Properties for Maximum Profit in a Sellers Market
Welcome to episode four in the series “How to Analyze Self Storage in Today’s Market.” We’ve established that it’s an overpriced “Seller’s Market” and prices for facilities seem over the top expensive. Even crazy. But here is the good news, you can get in the self...
Part 3: How to Analyze Self Storage Properties for Maximum Profit in a Sellers Market
We’ve established that we’re in an overpriced “Seller’s Market.” But you can still get in the self storage business today. You can still grow your self storage business today. But you have got to know what you are doing. You have got to be able to see the value...
Part 2: How to Analyze Self Storage Properties for Maximum Profit in a Sellers Market
It’s hard buying self storage today. Prices are so high. It’s not impossible to find deals in a “seller’s” market, but it does mean you have to know what you’re doing more than ever. Welcome to the second episode of the series “How to Anaylyze Self Storage in...
How to Analyze Self Storage Properties for Maximum Profit in a Seller’s Market
It appears as if the race to see how high self storage purchase prices can go has leveled off. But make no mistake, they are still high and I haven’t seen much of a reversal. It is still a “Seller’s Market.” Does that mean we should sit on the sidelines and wait...
Are You Asking The Right Questions To Build The Best Self Storage Strategy For You?
Welcome to the fourth and final episode of the series “The Complete Guide to Creating Your Self Storage Business Strategy.” We have been talking about the three aspects that determine our success in achieving any vision, or goal: 1). Mental state. 2). The stories we...
Do You Have Old Stories That Are Sabotaging Your Self Storage Success?
Welcome to the third episode (of four) in the series “The Complete Guide to Creating Your Self Storage Business Strategy.” We have been talking about the three elements that determine our success in achieving any vision or goal: Mental state The stories...
The Reason Even the Best Self Storage Strategy May Not Be Enough to Get the Results You Want
Welcome back to the Complete Guide to Creating a Self Storage Strategy series. Episode 2 also happens to also be the 100th episode of the Creating Wealth Through Self Storage blog. The only reason there are now 100 episodes is because of you. Thank you for reading...
Is Your Self Storage Strategy Really Complete?
I talk a lot about a self storage strategy. My self storage business transformed when I got clear on where I was going, what it would look like when I was there, and what was missing for me to get there. Oh yes, and the most important part of the strategy, the...How To Create A Soft Landing And Not Pop the Self Storage Bubble
Is it possible to have a soft landing instead of a bubble burst in the self storage industry? This question presupposes that there is a bubble forming in self storage. That’s an easy assumption to draw if you’re counting the number of new facilities going...
Where Are We In The Economic Lifecycle Of The Self Storage Industry?
“Where are we in the economic lifecycle of self storage?” I get asked this a lot. Every business, every industry, every country (you get the picture) has a lifecycle. I have found it helpful to relate the cycles of a business or industry to a human life. In other...
How to Create Your New Self Storage Paradigm of Success
This is our last week in the True Wealth With Self Storage Series. So far you’ve created a new and powerful paradigm for yourself and you life. You completed a disempowering story about your relationship to money and success. You replaced it with a new, empowering...Your Belief About Money – The Key to the Art and Science of True Wealth With Self Storage
When getting in the self storage, or any new, business we often wonder why the same patterns are happening to us again. “I thought this time it was going to be different?” As I’ve said before, you can have the best self storage business strategy in the world,...
Is Your Story About Money Preventing True Wealth With Self Storage?
Most people in our world today have a weird relationship to money. Did you find out anything unusual as you answered the questions last week? If you didn’t read the beginning of the True Wealth With Self Storage Series last week, click here for last weeks’...
True Wealth Through Self Storage – It Starts With Your Relationship With Money
I start every video episode by talking about the self storage business as a way to create “True Wealth” and a fulfilling career. But what is “True Wealth?” It involves a lot more than just money. But, believe me, without money there is no “True...
Looking Back at 2016 and My Commitment for 2017
As we bring this year to an end, I just wanted to say another big “Thank You!” I appreciate all the feedback I received from last week’s post about the biggest challenges you face as you grow your self storage business. I want to make sure I’m providing content that...
What Do You Need to Succeed in Self Storage Next Year?
I am very grateful for you. Yes, you. You who read and watch these episodes. You who have read the book, Creating Wealth Through Self Storage. You who have attended the classes I offer. Or purchased products I have created. Doing this work with people just starting...
My Top Strategy To Improve Your Self Storage Business Starts Tomorrow Morning
Want to have your best self storage year ever in 2017? If you do, it isn’t going to happen by accident. It will happen by design. The last two episodes I’ve discussed some very specific strategies to create a budget for your self storage facilities and a...
How to Set Your Self Storage Business Goals – and Why You Want to Do It Now
Why are you attracted to the self storage business? What fires you up so much that it drives you to do whatever it takes to start, grow or stay in the self storage business? It’s important you understand what your motivation really is for being in this business. ...
Creating Your Annual Self Storage Budget: Powerful Business Tool vs Hopeful Prediction
Most people’s relationship to language and the spoken word is very week. We haven’t really been trained on the true power the spoken word has to shape our experiences and our lives. This becomes very evident this time of year as we begin creating our annual self...
Self Storage Mis-Management Series: Why You Need to Treat Car Storage Differently
This week concludes the Self Storage Mis-Management series. Since it’s a holiday weekend I’ll keep it short and sweet! DO NOT treat storing cars or vehicles like household goods. There’s a BIG difference. You need to understand the difference in...
Self Storage Mis-Management Series: Top 2 Ways to NOT Get Sued
This is Week 3 of the Self Storage Mis-Management Series. In this series, I’m covering the five things NOT to do to keep your self storage facility running smoothly. In week 1 we covered the Serviceman’s Civil Relief Act. Last week we covered Creating a...
Self Storage Mis-Management Series: Can Good Customer Service Ever Be a Bad Thing?
Sometimes good customer service can really backfire! In the “Self Storage Mis-Management” Series, this is the second of the five top operational failures you need to avoid. I’ve learned this the hard way. Last week we discussed the first mistake to...
Self Storage MisManagement Series: 5 Operational Failures You Need to Avoid
You don’t know what you don’t know. That’s how self storage mismanagement often happens. Just as there are 5 things to keep your eyes on to build a great self storage business, there are 5 things not to do to keep that great business going. The next five posts will...
The Difference Between A Good and a Great Self Storage Manager
A few weeks ago, as I was leaving a challenging meeting with a real estate client – frustrated that I didn’t get the deal done – I got a call from one of our facility Managers. I immediately thought, “What now?” When I answered, she excitedly said “I hit my monthly...
Self Storage Management Series – The Big Benefits of Tenant Insurance
There are few true win/wins in life, but “Tenant Insurance” is one of them. It has big benefits for everyone. In our main market, we have just recently been allowed to sell tenant insurance in our facilities. Before that, we could only give out information and hope...
Self Storage Management Series – How Retail Sales Can Increase Your Facility’s Value Exponentially
This week is the fourth week of “The Management Series” and the Key Performance Indicators ( KPI’s) that every self storage manager should be tracking. “Our Managers relate to their job like they are running a store, not like a property manager”. I tell that to...
Self Storage Management Series – Why Payment Plans Lead to High Delinquencies
“I can tell you have a lot of customers on payments plans that are behind with their payments.” I was talking to the manager of a facility we purchased a few years ago. “How in the world can you know that?” they asked. “Easy, your delinquency percentage is 27%.” This...
Self Storage Management Series: Who’s Creating Your “Dollars Per Month?”
Last week was the beginning of “The Self Storage Management Series.” I noted that if you keep your eye (or your Manager’s eye) on five things you’ll do great in this business. Today I want to delve deeper into the first one: dollars per month. In many ways, this is...
Self Storage Management Series – The Top 5 Metrics You Need To Be Tracking
I often say, “If you keep your eyes on five things in self storage you’ll do great.” What’s strange is that very few people ever ask me what those five things are. Very strange. Part of building a thriving self storage business is tracking these top 5 self storage...
A New Perspective For Analyzing Self Storage Properties for Acquisition
It was a very different Self Storage Association convention in Las Vegas this year for me. Today I want to talk about my big takeaways from the convention. This is a global, 30,000-foot view that we can take down into our submarkets as we look for our next deals. For...
Do You Know the Most Important Skill Set You Need to Build Self Storage?
If you have read any of the past few posts, you have had some advanced training in negotiating. Very advanced. Those posts were primarily focused on negotiation with a Seller in this over-priced market. There’s another person you have to learn to negotiate...
10 Reasons You Should Join the Self Storage Association
Those of us in the self storage business are very lucky when comes to industry associations. Other industries are not as lucky. We have the SSA (Self Storage Association) Annual Convention in Las Vegas coming up next week. For the first time in a long time I am going...
How To Successfully Manage a Self Storage Facility. Even When You Make Mistakes
OK, I made another mistake. I wrote and filmed a different post for this week. Then I came down to our new facility in Florida today and left the camera with this week’s video in it at home. In that episode I wrote about anther mistake I made around the upcoming Self...
How To Create, Not Compete, in the Self Storage Industry
I think the next stage of evolution for humans is the movement from a “competitive” mindset (i.e. underlying view of the world that everything is ultimately us vs. them or me vs. you) to a “creation” mindset (there is unlimited supply of everything you need and you...
The Art of Creating a Self Storage Business – How to Bridge the Gap
The hardest part of creating a self storage business, creating abundance or wealth, is to “not judge what is happening by appearances.” It takes a special skill set, an art, to create a self storage business (or any endeavor) with a mindset of abundance. The most...
Does What You Believe Help You Find Great Self Storage Facilities?
I’m often asked the question, “Why do you share what you know about getting in the self storage business? Aren’t you just creating more competition?” Even my wife asks me that question. And even though I’ve learned over time that she is almost always right...
How to Really Win in the Self Storage Business
Winston Churchill’s famous speech rings in my ears every day. “Never, never, never, never, never, never, never give up!” But that is exactly what I see over and over again. People giving up or “changing their goals” when roadblocks occur. Look, I get having to...
The Secret Strategies for Buying Profitable Self Storage in Today’s High Priced Market
This week I opened registration for my new online master class, “Insider’s Strategies for Buying Self Storage in Today’s Crazy Market .” (You can register HERE) And it is indeed a very crazy market out there. My philosophy is let the big boys fight it out on...
How to Confidently Create a Winning Self Storage Business Strategy
What makes a great business strategy? How does one create a winning self storage business strategy? This will be a different type of post from my usual format. I am frequently asked how to write a business strategy. I created a worksheet for my online courses that...
Your Self Storage Goals – Do You Know How Or Why You’re Going To See Results?
Where are you today? Where are you in relation to your yearly goals? Your self storage goals? Are you mindful of them in the present? Are they a driving force in your daily life? As I write this we are half way through the calendar year 2016. Where are you on the path...
Adding to Your Self Storage Business Building Toolkit – An “Insider’s Strategy” to Minimize Risk In a New Project
Here’s one unusual way to minimize your risk when building your self storage business. I realize it may seem like it goes against everything I say about why self storage is the best type of real estate project there is, but it’s something I’ve done and it has really...
Starting A Self Storage Business in 2016 – Where to Find Your Life Changing Magic
To experience the magic life has to offer, you only have to step out of your comfort zone. Now that can be much easier said than done, especially when starting a self storage business today. Why? Because pricing is so high, to generate the returns we smaller investors...
Self Storage Management Software – Can Your System Keep You On Top of the Market?
There are a lot of good self storage management software packages out there. Most of them are very good. Over the years I have used three different programs and, for the most part, I haven’t been disappointed with any of them. That’s why I resisted changing to Site...
Self Storage Marketing – Do You Know How to Find Your Prospects Online?
It’s a brave new self storage world out there, especially in marketing. When I first got in the business on December 31, 1999, over 80% of our new customers came from Yellow Pages ads. Remember those? The last yellow page ad I ran was in 2013 and the cost per new...
Self Storage Retail Sales Not Your Thing? There’s More To That Lock Sale Than You Think
Do you sell retail items in your self storage facility? I think you’re missing the boat if you don’t put a real focus on retail sales. I know, I know…you’re in the business of renting units and selling retail items or renting trucks is a hassle that takes...
Are Self Storage Call Centers the Right Solution For You? A Look at Who Should Be Answering Your Phones and Why.
I hate companies that have a computerized, punch-in-the –last-name-with-your-key-pad answering systems phone systems. I hang up. Unless I have no choice but to deal with them – like the phone or cable company. And then I hate it even more. By the time I finally...
SBA Loans For Self Storage? My New Perspective On Them.
I’m going to do it! I am going to get an SBA loan. I don’t care where you are in growing your self storage business; if you are getting bank loans as opposed to non-recourse CMB loans, it can be tough. Sometimes the more loans you have, the harder it is...
Self Storage Stabilized Occupancy Rates – Are They On The Rise Or Going Down?
“Have self storage stabilized occupancy rates gone up?” At the Inside Self Storage Convention, I heard that question asked more than once. The quick answer is YES. For the first time in the history of this industry, all the REITS are above 90% stabilized occupancy. A...
The Great News About Getting Into the Self Storage Business Today
“How long can this expansion of self storage last?” “Is there a self storage bubble forming now?” Those seemed to be the questions on everyone’s mind at the Inside Self Storage Convention in Las Vegas this year. Here is my take away. If you are basically...
Self Storage Is Everywhere – How Can I Possibly Make Money Building More Self Storage?
“Everywhere I go, I see self storage being built. Is it becoming over built?” Have you heard that? Have you thought that? It often looks like that to me. How do you, or would you, answer that question? I usually hear something like “Is there too much self storage...
Want to exponentially grow your self storage business next week? Viva Las Vegas!
I love this time of year. I love it for two reasons: (1) The Inside Self Storage Convention in Las Vegas and (2) the Kentucky Derby the first weekend in May. If you have never been to either you should go. Especially the convention. The underlying theme in all I share...
Self Storage Rent Increases: How To Keep Up With Market Pricing When It’s A Moving Target
How fast are self storage rent increases happening? Well it depends. It depends on your market, what size and so on. But the truth is, it has been hard for us to really tell accurately. Much of our competition uses the demand marketing model (where prices vary daily...
Self Storage Cost Segregation Depreciation – Why You REALLY Want to Know About It Before Tax Time Comes Around Again
April 15th is coming up. I don’t tend to fret over it like I used to. Two reasons I own self storage facilities and, We have had cost segregation reports completed on each one of them. Real Estate is perhaps the best way to minimize your tax liability. Because I (or...
Learn My New Answer to the Question: Should I Buy Existing or Build New Self Storage
I used to always tell someone new in the self storage business that they should purchase an existing facility first. Get your feet wet, learn the business, then if you really like it, build your second or third facility. I don’t say that anymore. Not today. Not with...
You’re business strategy – 2 areas you need to address to manage your success
As you are creating your business strategy, two central questions are: who is going to run the business? who is going to run the facility? The answer to the first is you! You are going to run the business. You’re creating it and it’s an extension of you. It’s your art...
Everyone talks about Self Storage CAP rates – do those numbers actually mean anything?
I know this is close to heresy, but especially in the world of self storage, but…STOP USING CAP RATES. The way they are being used in marketing self storage today is misleading, bordering on fraudulent. Who should stop using them? Well most importantly, Buyers should...
Find out the winning approach to closing a successful self storage project that you probably aren’t thinking about
I once represented the CEO of a large publicly trade company in a few real estate transactions in our market. He thought he would teach me how to negotiate. He told me to “Get as much as you can. Push it till they are about to walk. Then back off and be friendly. They...
The Art of Finding Self Storage Facilities – Part Relationships, Part Attitude, Part Pure Creativity
“Where do you find the self storage facilities you buy?” Well, finding self storage facilities to purchase is an art. Yes, I have a method, which I will share here, but in the end it’s an art. But I think being in business is like being an artist. We are...
How big should my first storage facility be? The answer is probably not what you think.
“How big should my first storage facility be? “How big a facility should I buy?” “How big a facility should I build?” If you’ve followed me at all, you know how I’m going to answer that question. Every single time I get asked. “It depends.” “It depends on what?” “It...
Do You Really Know What You Need to Know About Your Facility?
Do you know one of the most meaningless numbers ever asked or ever told concerning your self storage facility? I hear about it every day. “How many units we have we leased?” “We’ve leased “X” units.” I know its interesting, and it does point to trends, but for...
The New Self Storage Strategy – How Do You Balance People vs Profit?
There is a real revolution going on in the self storage industry these days. In an industry where the biggest innovation to date (climate controlled units) happened in the 1970’s, this is arguably the biggest development ever in the business landscape for self...
Profitability – it’s not about who you are or what you do – it’s who you hire
As I said last week, if you keep you eyes on a few things in this business, you can create a lot of profitability. One of them is “Accounts Receivable”. This is what keeps the economic occupancy percentage and the physical occupancy percentage very close to each...
What do those numbers really mean? Keeping your Self Storage Facilities Healthy
I often tell people “If you keep your eye on about 5 things, your self storage facilities can be a very profitable business.” Let’s discuss one of them. We started taking last week about the difference between physical occupancy and economic occupancy, but lets really...
The Secret To Self Storage Profitability. Hint: McDonalds does it.
“How could you buy that facility that was listed at a 5.2% CAP Rate?” “I didn’t” I say. “But look at what you paid. That is much closer to their list price than I could ever pay.” “OK, but it wasn’t a 5.2% CAP rate on my income stream! In fact I think I got a...
How to win in today’s competitive self storage market – Buy it? Build it? Or both?
“Self storage facilities are so expensive to buy today!” “I’m afraid to build a new one as my first facility.” “How can I get into this business?” In today’s competitive self storage market there is a way smaller investors, like us, can get in the business and still...
Taking the mystery out of the math: Building or Buying a Self Storage Facility
“They want HOW MUCH for their self storage facility?!” #x*!(*%! “Maybe we should just build one.” As the self storage market heats up, and prices keep getting higher and higher for existing self storage facilities, more and more people are leaning towards building new...
Building Self Storage – the Unexpected Way to Success
There is a little know secret to building your self storage business most don’t think about, that can make the biggest difference in your goals being reached, or not.
Self Storage Goals: Setting vs. Achieving
So I found myself sitting down to write an episode that I have been regularly deleting and couldn’t help but ask myself what could I possible say that would make a difference for my subscribers who are getting in and/or growing your self-storage business about planning your 2016.
Self Storage Financing – Creating Good Debt
“If you are born without a lot of money, and you never borrow money and go in debt, you are going to die without a lot of money.” A mentor told me that once. He also said it is important to know the difference between good debt and bad debt. Yes, there is such a thing...
You Bring The Why, I Can Help With The How – Episode 37
Your specific income goals should always be where you business strategy planning starts. If you don’t have a strong “why” you want to invest in the business, you can’t begin to start on the “how.”
Your Secret Weapon When Buying Your Next Self Storage Facility – Episode 36
It has never been harder to buy self-storage than it is right now for the smaller investor. It has also never been a better time to buy self-storage for the smaller investor. But don’t let anyone tell you otherwise, it is challenging. It is hard because REITS have...
The Most Important Asset In Your Self-Storage Business – Episode 35
What is the greatest asset you have in your business?
I know the knee jerk reaction is “my customers” or “my employees”.
I know they are both great assets, but consider again. They are not the greatest.
You, are the greatest asset to your business. It is you.
