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...

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...

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...

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...

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...

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...

I don’t use CAP rates much when thinking about self storage, at least when I am buying it. In my opinion, today, they are misleading, not accurate, and not a good way for me to relate the value of a facility. At least not the way they are being used today in our...

If you are considering getting into the self-storage business or in the self-storage business, one of the attractive features is the low amount of ongoing capital expenses. Unlike multi-family, office, or even retail, there are very few capital expenses required to...

I have said before about self storage, “Make data-driven decisions.”   I try to do that. But it’s getting hard. Real hard, in my opinion. In my humble opinion, there are two big issues with data today in the self storage industry. The first is how it is collected, and...

I get asked that question a lot?  “How much can I pay for land to build self-storage on?” Or… “How much can I pay for a building to put self-storage in?” If you have been following me at all, you most likely know I have a fairly stock answer to most questions…” It...