Often, we deal directly with a seller when buying self-storage.

Or often, with listed property, we see a shiny OM (offering memorandum) and everything looks great. Then we see the other due diligence documents, and the facility can lose some of its luster.

I have often stated that I could look at a random daily “Management Report” and get a lot of information I need to generate an offer or start negotiating.

Let’s look at one together

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The cost of capital is high today to do a Self-Storage or Boat & RV development today.

Let’s look at a creative way to reduce this cost of capital and perhaps solve another problem for us smaller developers if we are using other people’s money and/or syndicating a deal today.

Let me know your thoughts and other methods you may have used.

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So, is the decade-long self-storage party over?

Is self-storage still a good place for small investors to go in search of their dreams and goals?

I’ll share what I think after contemplating the data from the big players after Q1-2024.

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Smitty is my partner in a self-storage company designed to take the small investor through the entitlement process for self-storage projects in an affordable way and then bid on the construction of the project in a competitive environment, ensuring clients get the best value possible.

We feel this is a powerful way, in today’s high-cost environment, to give smaller players a competitive edge and help bring projects online that may otherwise not happen.

Yardi just released Q4 data on the self-storage industry, and development projects are being abandoned at a high rate today.

Let Smitty explain the company’s unique approach to assisting smaller self-store owners and investors with their self-storage development and/or construction projects.

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Self-Storage tends to attract lone wolves who want the freedom and independence this business can offer.

But here’s the deal: no one can be successful by themselves. It takes a village.

Or a team, in this case.

Let’s discuss the basics of who I think are the players on your self-storage team if you are creating a self-storage project.

I have the privilege of scaling a new company (Resolve) with a construction partner helping small storage investors get to biddable plans, then execute self-storage construction using the process and team members I have utilized over the years in my own projects.

Let me share that with you now!

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I had a few ah-ha moments at the recent Inside Self-Storage Convention (ISS) a few weeks ago.

One of them was about the future of Boat & RV developments as a niche in the storage space.

I heard a statistic that I’ve heard a few times before, but this time, something happened.

I had a revelation and could see it all.

Let me share it with you.

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As many of you know, I attended the Inside Self Storage (ISS) Convention two weeks ago in Las Vegas.

Not everyone could go, so here are a few takeaways in no particular order.

In some future episodes, I will cover others in more detail. However, here are some higher view on some broader aspects of the self-storage space.

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Let’s talk about the physics of self-storage today.

I finally figured out that REITs must have physicists on their payroll.

Let’s look at how we can apply laws of physics, at both the Newtonian level and the Quantum level to our storage business.

Enjoy.

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Over the years, I have worked with many people who need to “raise investment money” from “investors.”

I have seen many not succeed.

I struggled some when I first got started, as well.

Let me share the big reasons I see investors fail.

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There are two main organizations that put on seminars in the self-storage space in the US.

One is the Self-Storage Association (SSA), and the other is Inside Self Storage (ISS).

I love the SSA; it is a vital organization for self-storage owners.

For people new to the storage space and small investors, I find the ISS very helpful. How the conventions are organized, the sessions offered, and what they present tend to work well for the people I coach and support.

If you have never been to one, I recommend the upcoming ISS Convention in Las Vegas on April 2 – 5, 2024.

Let me give you four reasons why I am attending this convention at this time in 2024!

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