Creating Wealth Through Self Storage

Recently, I’ve been working closely with several people who are either purchasing or developing automated self-storage facilities. Naturally, the conversation quickly turns to one thing: how are we going to manage them?

I am also reinventing how I will manage properties I am involved with, both through automation and with managers.

Let’s talk about how to set up your automated self-storage operations, or at least what we are doing. This is the first of a two-part series designed for smaller owners/operators who want to take over running their facilities from third-party management companies or set their own management systems in place to run their facilities.

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Two weeks ago, we began a series outlining the five phases our construction company uses when developing self-storage projects in today’s unpredictable environment. This is the same process we use ourselves—and you can use it too, especially if you’re doing a solo project.

The goal of this series is simple: to bring a development, expansion, or conversion project to the finish line in a way that actually pencils out—despite current interest rates, material costs, and labor challenges.

If you haven’t seen the first two parts of the series, you can catch on: Episodes 457 & Episode 458.

This episode covers the last phase, and we discuss the biggest mistakes we see people make today in self-storage construction.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

**5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

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**The Storage World Analyzer**

**The QuickStart Academy Store**

Last week, we started a series outlining what our construction company uses as a general outline for developing self-storage projects in today’s uncertain world.

This series aims to bring in a development project, or an expansion or conversion, in a manner that actually pencils out financially with current interest rates, material cost, and labor cost. It is a process you can use yourself if you choose to.

If you did not watch or read last week’s episode, start there. What we covered were the first two phases and, in many ways, the most important ones. Lots of money is wasted in our experience in these first two phases.

Let’s talk now about the two construction phases we utilize in our development process.

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

**5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

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**The Storage World Analyzer**

**The QuickStart Academy Store**

Given the continued high cost of existing self-storage facilities for sale and the challenges of getting into the business, let’s discuss the development steps for smaller investors.

Or at least my take on the development process for the smaller player in the space. This has evolved over the years and was further refined and improved on by my construction partner, Smitty Smith of Resolve Self Storage Construction.

I have divided the process up into five sections, or spaces to move through.

Over the next three episodes, we will explore each one in more detail. However, this is not comprehensive writing, and it does not include everything you need to know. In Part 3 of this series, we will also touch on a few of the big mistakes we see people making in the self-storage development process.

Let’s get started with where so much money is lost and wasted!

**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**

The Inside Self Storage Expo 2025 is coming up next week in Las Vegas, and I’ll be there.

I make it a point to attend at least one self-storage convention a year to stay sharp—tracking trends, seeing new products, and deepening relationships in the industry. Events like these are essential if you’re in or entering the self-storage business.

But today, I want to talk about something most people overlook:

Let me share with you where most of the biggest leaps in my self-storage business came from!

**Online Courses at The Quickstart Academy**

**Listen on Apple Podcasts**

**5 KPIs we measure**

**My blog**

Creating Wealth Through Self Storage

**Facebook**

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**The Storage World Analyzer**

**The QuickStart Academy Store**

Let’s talk about charity work and your self-storage business.

As business owners—especially those of us making a living in a particular trade area, city, or region—I believe we owe something back. We should contribute in some way as good corporate neighbors.

Let’s discuss some different approaches to this today.

**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**

I hate to say I told you so… but… I told you so.

This headline popped up in my news feed dashboard: “California Senate Bill 709 Seeks To Limit Self Storage Rent Increases.”

Let’s discuss Rent Increase Regulations that are starting to happen and put them into perspective.

**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**

In episode 451, we discussed how uncertainty in Washington, combined with mixed economic signals, is causing some investors to sit on the sidelines. But for those who can make quick decisions and move fast, this could create a window of opportunity.

One thing I can almost guarantee, though, is that construction costs are not going down.

With new tariffs (why are we doing this?) and immigration policies restricting labor availability, construction costs are only going to rise.

Let me share with you how we are adjusting to that.

**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**

I am hosting a virtual online Bootcamp in March on the 21st & 22nd and have been revising some of my content for the event.

This is the second episode of three, where I will be sharing some of the things I am going to be bringing up that I haven’t necessarily focused on in the past.

I will step out a little today and have a political conversation that is not designed to be a political statement but points to something that may affect smaller self-storage players like me and probably you.

Regardless of whether you are in the Bootcamp or not, this conversation will be relevant to your upcoming next few years in the self-storage space.

**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**