Creating Wealth Through Self Storage

Last week we started a conversation about what I’m seeing in the economy, what may be coming next, and how that changes our self-storage strategy, based on research I dug into after hearing Michael Litt speak. As a CCIM in commercial real estate, our state chapter hosted Litt on “The Big Short.” If you remember the 2015 movie by the same name, it dramatized (and abbreviated) what his hedge fund did during the 2008 recession.

Last Week’s Episode. https://youtu.be/QAMZsyZCPx0

This week we will look at the impact of the tax bill, good and bad, the impact on the national debt, and how this can affect us as self-storage owners.

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Creating Wealth Through Self Storage

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Some dots have connected in my mind recently that are reshaping how I evaluate self-storage trade areas moving forward. Surprisingly, this insight came from digging into the lives and current work of the people who shorted subprime financial instruments during the Great Recession—and what they’re focused on today.

I also re-learned an important truth when designing my self-storage and investment strategies: don’t follow the news, the politics, or the politicians—follow the money. See where it’s going. That points in a much clearer direction.

Next week, I’ll share where it appears the people who earned over 500% during the Great Recession are investing their money—and what they’re hedging against.

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Creating Wealth Through Self Storage

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Let’s talk about the biggest issue I see today in leasing up new self-storage space is overspending for online marketing that doesn’t produce results.

I see it happen far too often and have experienced it myself.

Here are the steps, spaces, and things I put my attention on as I work with vendors and/or employees to design and execute a marketing strategy and budget that works.

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Creating Wealth Through Self Storage

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Let’s talk about converting potential self-storage renters into customers.

I had this conversation last Friday in our Inner Circle group and thought it may be good to discuss it in more depth in this episode.

This is probably the most powerful tool our team has ever used to rent units.

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Creating Wealth Through Self Storage

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Let’s talk about the new tax implications for self-storage owners and take a look at the good, the bad, and the potentially ugly parts of the massive tax bill recently signed into law and championed by the current administration, at least from my perspective.

I am only going to touch on a few items that I think most directly impact us as self storage owner/operators.

I’m doing this because I have changed a few things in underwriting and planning for the next couple of years in capital improvements. Let me share.

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Creating Wealth Through Self Storage

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We are going to have to talk about insurance and self-storage, which may touch on politics.

Part of our job as owners and entrepreneurs is to look at what is going on now, extrapolate some data, and then make predictions about the future to some degree so we can make moves today.

And in my opinion, it doesn’t look good for insuring self-storage projects. In fact, it looks ugly.

So let me ask you a question in this episode, a philosophically political question.

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Let’s discuss what features, what tech bells and whistles to add to your new facility or one you may be purchasing.

I approach this differently than I did a few years ago.

Let me explain.

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Creating Wealth Through Self Storage

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Let me share what I’ve gathered about the state of the self-storage industry halfway through 2025. This is based on the latest Yardi Matrix data, Radius insights, REIT shareholder reports, and—just as importantly—my own observations and experience in the trenches.

I will also share with you my insights on what to focus on and not focus on for the next 12 to 18 months or so.

**Online Courses at The Quickstart Academy**

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Creating Wealth Through Self Storage

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**The Storage World Analyzer**

**The QuickStart Academy Store**

We all know the usual add-ons for self-storage projects by now, like tenant insurance, retail items, and truck rental.

Let’s discuss some new possibilities for the modern project today. These are just a few outside-the-box ideas that could generate extra revenue that makes a big difference today in our projects.

**Online Courses at The Quickstart Academy**

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**5 KPIs we measure**

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Creating Wealth Through Self Storage

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**The Storage World Analyzer**

**The QuickStart Academy Store**

Last week, we started a conversation about how to organize a management operation for your small, automated self-storage facility. This week, we’ll wrap it up. If you missed Part 1, here is a link:

Let’s finish this week and discuss how, as a small Owner, you can set up a successful Marketing Division of your automated management operations and what that can include.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

**5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

**Twitter**

**The Storage World Analyzer**

**The QuickStart Academy Store**