Self Storage Income

You want to buy a self storage facility, but you don’t know where to find one, or how to analyze one, or even where to begin.

You’re in luck because today, we’re showing you exactly how to analyze a self storage facility, step by step. We break down the entire process, from creating your buy box, finding listings, and reviewing offering memorandums (OMs) to evaluating markets and analyzing competitors.

We’ll even show you two real properties currently listed online, go over the numbers, comb through the photos, and tell you what we might do if we were buying them. You’ll quickly learn that some figures matter far more than others. The purchase price is always negotiable (especially in this market), and low occupancy isn’t a dealbreaker if there’s self storage demand.

Whether you’re targeting stabilized assets or value-add opportunities that allow you to increase revenue, use this practical framework to hone your self storage underwriting skills and achieve the ultimate goal: buying your first or next facility!

Join the Self Storage Income Community to learn how to buy, build, and scale your self storage portfolio!

What you’ll learn in today’s show:

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People think you need millions to get started in self storage. You don’t.

You’re about to hear about someone who just bought a self storage facility for less than a single-family home. And not only that—they put just $5,000 down. Now, rather than dealing with tenants and toilets, they’re getting a 42-unit self storage business that provides immediate cash flow and offers serious value-add potential.

Today, we’re highlighting wins just like these, from “small” investors just like you. We’ll get into how smart investors are building out their capital “stacks,” structuring partnerships, and identifying the best markets to invest in.

We’re also addressing the most common pain points and questions investors have when running a self storage business. What are the best ways to leverage AI? Should you have cell towers installed on your property to increase revenue? Is it a good idea to do away with security deposits? How do you get insurance costs under control? We answer all of these and more!

Join the Self Storage Income Community to learn how to buy, build, and scale your self storage portfolio! 

What you’ll learn in today’s show:

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Grab AJ’s Book, Growing Wealth in Self-Storage 2.0 - https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic/dp/1735258865 

Join the Self Storage Income Community - https://www.selfstorageincome.com/learn?el=pc-ep350

Patchwork Labs - https://www.patchworklabs.com/ 

Tenant Inc. - https://www.tenantinc.com/ 

Storelocal - https://www.storelocal.com/ 

Self storage was never part of Tanner Herget’s plan.

He started as a customer, renting a unit for his restaurant equipment. A year later, he bought the self storage facility.

That property had 180 units. Today, it has 460.

And that was just his first deal. Since then, Tanner has tightened his buy box, refined his investing strategy, and scaled his self storage portfolio to 13 facilities and over 2,800 units—all managed remotely by just two office employees.

His playbook? Buying small self storage investments at a discount, then adding massive value through expansions and operational upgrades, one property at a time. This is how Tanner creates enormous wealth, making $500,000 per self storage facility.

Today, he, AJ, and Conner are breaking down how to recycle the same capital again and again, dial in the ideal unit mix at your facility, and improve operations through vertical integration.

If you’re in self storage for more than just extra cash flow or tax benefits—and want to build true generational wealth—pay close attention to what Tanner’s doing.

What you’ll learn in today’s show:

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Self storage businesses beat most other investments, and it’s not even close.

Wherever you’re thinking about parking your money—whether it be rental properties, the stock market, or service-based businesses—the truth is, self storage has the edge over all of them.

Most investors look at other businesses and see low startup costs and flexibility, and they’re not wrong. But what they’re missing is what some of these businesses don’t have: hard assets, tax benefits, all kinds of financing options, and one massive benefit that often goes overlooked:

The dollar your self storage facility makes is worth far more than the dollar most other investments make.

Why? Because in self storage, that dollar not only increases revenue but also grows the value of your facility. And unlike rental properties, which require many hours of physical labor and renovation costs, self storage facilities can grow in value in a matter of months—without swinging a hammer or pulling up carpet, but with simple operational improvements.

So, how do you do it? We’ve got the blueprint.

What you’ll learn in today’s show:

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Grab AJ’s Book, Growing Wealth in Self-Storage 2.0: https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic/dp/1735258865

Join the Self Storage Income Community: https://www.selfstorageincome.com/learn?el=pc-ep348 

Get our FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment: https://www.selfstorageincome.com/start-podcast?el=pc-ep348 

Buy Then Build : https://www.amazon.com/Buy-Then-Build-Walker-Deibel-audiobook/dp/B081BBMM78/

The self storage industry has a glaring “blind spot,” and it’s much bigger than you think.

In fact, it represents over 19,000 self storage facilities spanning 98% of U.S. cities. The REITs? The larger players? They’re not doing anything about it. They can’t.

But for you, the new or “smaller” self storage investor? You are uniquely positioned to take advantage of massive opportunities, the likes of which we may never see again in our lifetime.

Despite how far technology has come in the last 10-15 years, there are still thousands of mom-and-pop facilities that are hidden from public data. Why? Because they’re not online. They’re not marketing. They’re inefficient. And when it comes to market research, they’re invisible.

What does this mean for you?

In this episode, I’ll demonstrate how you can purchase one of these “undervalued” facilities, make operational improvements, cut unnecessary expenses, and increase revenue.

These opportunities won’t be around forever. We’ve just entered a new wealth-creation cycle, but there’s only a five-year “runway” to start your self storage business and scale your portfolio before self storage figures itself out.

The clock is ticking.

What you’ll learn in today’s show:

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Grab AJ’s Book, _Growing Wealth in Self-Storage 2.0_ : https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic/dp/1735258865

TractIQ: https://www.tractiq.com

We survived 2008, the pandemic, high interest rates, and now a wildly volatile economy—but it’s not the same for other self storage owners. I’ve been getting calls over the last 6 months from operators losing their facilities, trying to restructure, and get out. They’ll lose money, lose their properties, and most likely lose the relationships with their banks, lenders, or investors.

This is how to not be in that position. This is how to become “hard to kill” in self storage.

What most investors don’t realize is that to thrive, you need first to survive—and this is exactly how to do it. I’ll share how much liquidity (cash reserves) you should have on-hand at all times, how to put your numbers over your emotion and never panic buy or sell, what to do when big competitors drop rates (by 50%!) in your market, and the playbook we used to build a $300M+ storage portfolio while everyone else was severely unprepared.

If you can stay in a strong position in 2026, you will have opportunities coming your way that won’t resurface for years.

What you’ll learn in today’s show:

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Your self storage business isn’t struggling because your vacancy rate has slowly crept up or because your rents are too high.

What’s actually going on? It’s simple: you have a self storage demand problem.

Everyone thinks demand is outside of their control—that it’s completely dependent on the market, competition, and rates. But it’s not.

The truth is, you have far more control over demand for your self storage units than you probably think. Not convinced? In this episode, we provide real case studies of developments, fill-up facilities, and stabilized facilities we have transformed over the last four to six months.

If you want to “create” demand, even in a seemingly competitive market, we have the playbook.

Whether you’re looking to buy an existing mom-and-pop operation or optimize an underperforming facility you already own, there are four operational levers you need to pull if you want to generate enough demand to improve occupancy and increase revenue—without slashing rates.

Dial these in just right, and everything changes—not just demand for your self storage units but also your overhead costs, your conversion rates, and your bottom line.

What you’ll learn in today’s show:

Improving your self storage business’s conversion rate (and land more customers)

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Want to increase not just your self storage revenue, but also your facility’s value? It has very little to do with luck, timing, or even the deal itself. It’s all about the levers you pull after closing.

With rental properties, stocks, and other investments, you have almost no control over what the market does. But with self storage investing? You’re in the driver’s seat. You have the ability to influence both how much your facility makes and what it’s ultimately worth.

How, exactly?

Conner and George break down the most impactful value-add strategies self storage operators should prioritize. Whether you’re buying your first self storage facility or stabilizing one, increasing revenue, controlling expenses, and making high-ROI property improvements can raise your bottom line dramatically.

We’ll get into strategic rate increases and dynamic pricing, operational inefficiencies and “hidden” costs, and finally, expansions and additions that really move the needle on net operating income.

These strategies are practical, tactical, and hands-on. Because in self storage, rarely do you find value.

You create it.

What you’ll learn in today’s show:

—

Grab AJ’s Book, Growing Wealth in Self-Storage 2.0 - https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic/dp/1735258865 

Join the Self Storage Inner Circle- https://www.selfstorageincome.com/inner-circle?el=pc-episode-344

Before you buy your first self storage investment, you’ll need to figure out where to buy. But in a country with over 10,000 different cities, just picking wherever you find a deal won’t cut it.

Today, we’re showing you exactly how to find the best self storage market for you—and it may be closer than you think. This is the checklist we use when analyzing any area for self storage investing, along with the metrics that matter most when deciding whether or not to buy there. 

How much does population growth really matter? What if new facilities are being built there? Should you buy close to home, or is remote self storage investing easier than you think? And what’s the one “king” of metrics that shows you whether or not your self storage facility will flourish or fail?

Then, once you find the market, how do you get deals sent to you? We’ll share exactly who to connect with and even how to find off-market facilities so you can acquire, manage, profit, and repeat.

Beginners, this is the first stage of your self storage business—do not skip it. 

What you’ll learn in today’s show:

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There are three crucial things every self storage investor must pay attention to when building their portfolio. These are the things that helped me scale a $300M+ self storage business and grow through the Great Recession, the pandemic lockdowns, and every downturn and upturn in between. 

If you get these three things right, you will be successful in self storage. Even better news? There's a huge buying opportunity right now (with more on the way). 

I’ll outline everything from your self storage market, to the operations and tech you should use, to the structure of the deal (I’ll even share how much debt I have and how I structured it) so you can survive the down times, thrive during the good, and grow in the middle. 

Plus, I’ll share how we’re “making” deals right now and getting facilities 40% under replacement cost with millions in walk-in equity. I wish someone had told me all this when I started, but now, I’m giving it to you in under half an hour.

What you’ll learn in today’s show:

—

Grab AJ’s Book, Growing Wealth in Self-Storage 2.0  - https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic/dp/1735258865 

TractIQ - https://tractiq.com/ 

Nokē Smart Entry - https://www.janusintl.com/products/noke 

Hummingbird by Tenant Inc. (Self Storage Software) - https://www.tenantinc.com/products/hummingbird