The Self Storage University Podcast

One of the largest line items on any self-storage P&L is “property tax”. But there are tricks you can use to minimize this burden – which will only be expanding as counties nationwide strive to find more ways to pay their bloating bills. In this Self-Storage University podcast we’re going to review the playbook to keeping your storage facility’s property taxes as low as possible.

Benjamin Franklin, the historical figure from American history, had many thoughts and comments that live on today. One of his famous thoughts was “it’s not the price of the fireplace but the cost to keep it stocked with wood”. How does that relate to improvements to self-storage facilities? That’s the topic of this Self-Storage University podcast.

Self-storage is a relatively simply business model, and without cash coming in there’s nothing to go out. As a result, collecting your rent is key. But many storage buyers and owners do not use good business practices in this basic – but vital – arena. In this Self-Storage University podcast we’re going to drill down on the right and wrong way to collect rent.

Let’s assume that you have a storage owner who you are so close to getting to sign your purchase contract but can’t seem to get them to sign on the dotted line – how can you push them over the top? In this Self-Storage University podcast we’re going to discuss some real-life solutions to getting your deal over the goal line.

Many self-storage owners and buyers have the wrong impression on the relationship between occupancy and rents. Due to this misunderstanding they often miss out on important opportunities to boost revenue. In this Self-Storage University podcast we’re going to unlock the mysterious relationship between rents and occupancy, and how to harness that knowledge for greater profits.

When buying a self-storage facility all financing is good financing, right? Not always. There are some unusual risks in non-traditional debt. In this Self-Storage University podcast we’re going to review the different types of non-traditional debt and what’s good and bad about them, as well as methods to mitigate the risk.

Contrary to what the Biden administration may be telling you, higher inflation is unlikely just a temporary phase. If higher inflation is the new norm for America then how will that impact the self-storage industry? That’s the topic of this Self-Storage University podcast, which will focus on not only the impact but how to mitigate against the risks.

If your self-storage facility has a manager – and they have a car – there’s a whole level of liability that you have to be protected against. In this Self-Storage University podcast we’re going to review the topic of how to properly mitigate the risk of managers driving their way into problems for your property. As you’ll see, there’s much more than just gas prices to worry about.

Although urban storage owners are broadcasting positive spins on their current occupancy, there are some very bad trends ahead for this segment of the storage industry. In this Self-Storage University podcast we’re going to identify some of the pending issues for owners in dense urban centers and contrast that with what’s trending in suburban and exurban markets.

Self-storage investing typically requires getting a loan on the property, with the buyer paying the required down-payment and the bank extending credit on the rest. But is it possible to get pre-approved for this type of loan? That the topic of this Self-Storage University podcase, where we’ll go over this concept and its ramifications.

You can’t always get a storage deal for the price you want to pay. So when should you agree to the higher price and when should you withdraw? And how can you make sense of paying that extra price? That’s the topic of this Self-Storage University podcast. We’re going to talk about the science of stretching as much as any personal trainer – and it won’t cost you a cent.

There’s no shortage of articles and reports out there on the self-storage industry, but don’t let people give you guidance who are trying to sell you properties or have a vested interest in advancing false narratives. In this Self-Storage University podcast we’re going to discuss some of the “facts’ floating around the industry which are clearly wrong and designed to ensnare you into bad deals.

You can’t be a self-storage facility owner unless you buy one. And you can’t buy one without putting one under contract to purchase. So what’s holding you back? In this Self-Storage University podcast we’re going to discuss the common blockades to you taking this step, and how to overcome this anxiety and have greater confidence in the process and your actions.

Just like a chair cushion, most people are not attracted to “hard” options – but how does that work with self-storage investing? In this Self-Storage University podcast we’re going to discuss when the seller wants “hard” money to go under contract, as well as “hard” money lenders. While there may be some deals that necessitate dealing with “hard” options, you need to understand what the risks are so you can make the right decision.

We all like nice people, but having a kind and gentle disposition can often be a hindrance when it comes to buying and operating a self-storage facility. In this Self-Storage University podcast we’re going to review when you can and can’t be “nice” and still be successful – as well as tips on being “tougher” for the sake of your investment.

Oil and vinegar. Fire and water. There are many things that just don’t go together well. And one of those is financing and time. In this Self-Storage University podcast we’re going to review how hard it is to get financing for you facility to match the time given, and how to best plan for the eternal conflict between getting a loan and meeting your time deadlines.

A “paper trail” is not a paperboy’s route, but an essential part of running your storage facility. So how do you properly “paper” your property? That’s the topic of this Self-Storage University podcast. If you want to minimize potential litigation and its sources, then having a system to document all issues is essential.

Every smug “expert” tells you the science behind investing, and makes out like they have all the answers. However, the truth is that nobody knows what’s better for you … than you. Since we are all the masters of our own destiny, isn’t it time you trust in your own decision-making over all others? That’s the topic of this Self-Storage University podcast in which we discuss why you are the best authority on your future and some tools to help build your confidence in making those tough decisions.

The U.S. is always changing and growing, and smart investors try to stay current on the macro trends. In this Self-Storage University podcast, we take a look at current stats on economic vitality state-by-state, and try to draw conclusions from this data. As we will discuss, there has never been more volatility as “hot” markets cool and cool markets ignite. The key to making money is to invest in areas with strong futures, and understanding how America can have an impact on those decisions.

“Sticky” is a slang term that relates to customer retention. The “sticky” customer will renew their rental agreement endlessly, while the customer that is not “sticky” will just throw their stuff in their pick-up truck and take off at any moment. So how “sticky” are your customers in reality and how bold can you be in your rent increases accordingly? That’s the subject of this Self-Storage University podcast.

B. Wayne Hughes is the “father” of the self-storage industry, having grown Public Storage from scratch into the world’s largest self-storage REIT with over 2,500 locations in the U.S. and overseas. He doesn’t typically say a lot, but there are quotes out there that might give a glimpse of his vision on storage and on life in general. In this Self-Storage University podcast we’re going to review the legend and quotes of B. Wayne Hughes and see what there is to learn from his story.

American interest rates are in a state of flux, and this can present a challenge to conservative investors that like to avoid risk. In this Self-Storage University podcast we’re going to examine how to protect yourself from interest rates woes and simple steps to mitigate risk. With inflation rising and interest rates at near all-time lows, this is a recipe for disaster unless you manage this properly.

The self-storage industry is highly consolidated by large REITs such as Public Storage. As a result, these titans like to buy “research reports” to help explain the current industry statistics for investors (which, not remarkably, typically just happen to support their business strategy). But for smaller investors, these reports may be lacking some of the information that reflects your business model as opposed to a REIT.

For a while, self-storage cap rates had been in the same ballpark as other sectors – most notably apartments – but now they are going up while housing sector cap rates are staying low. Why is this occurring and what can you do to protect yourself? That’s the subject of this Self-Storage University podcast. As you’ll see, there are legitimate reasons for this cap rate disparity, and important steps you can do to mitigate this risk going forward.

Every self-storage facility needs a manager. But you need one that actually makes your property perform as planned – not hold you back from success. In this Self-Storage University podcast we’re tackling the subject of what makes a manager go bad and how you can best manage this risk. While all self-storage facility managers are not perfect, some are really bad and can cost you big money. This podcast helps to reduce those losses.