Stories Behind the Door

I sit down with Alex Quezada, Founder and CEO of Vault Ventures, to discuss creative deal acquisition, portfolio automation, and scaling commercial real estate .

After 15 years in residential real estate, Alex automated his wholesaling company and transitioned full-time to long-term commercial assets . In this episode, Alex explains how he acquired multiple large facilities using creative seller financing and why securing long debt terms without balloon maturities protects operators far better than chasing short-term low rates .

We also explore the operational advantages of pairing self-storage with small bay industrial flex, how tracking Return on Equity (ROE) dictates when to sell versus hold, and the vital business lesson of planning a partnership exit before signing an operating agreement .

• Creative Debt Structuring: Why fixed seller-financed debt over 10–20 years outperforms short-term bank financing facing balloon debt maturities .

• Systemizing to Scale: How Alex handed daily operations to his team so he could focus purely on commercial acquisitions .

• The Hybrid Flex Model: Why combining storage with small bay industrial units stabilizes occupancy and cuts tenant turnover .

• Return on Equity Discipline: Auditing equity yields to systematically exit lower-performing assets and redeploy capital into larger facilities .

• Sustainable Partnerships: Structuring operating agreements with clear buyout mechanisms to maintain control and protect capital .

Connect with Thaddeus Campbell (S3 Partners): Email: [email protected] LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Alex Quezada (Vault Ventures) Email:[email protected] Website: https://vaultventures.net/

Sponsor Shoutout: Brought to you by Kiwi 2 Construction . Wayne Woolsey and his crews bring 30+ years of structural steel experience to self-storage and small bay flex developments . Visit kiwisteel.com early in your planning to put three decades of steel expertise behind your build . As always, special thanks to Barry Sherman and the team at S3 Partners !

Unmanned, remote self-storage is expanding rapidly, but remote technology stops working the second a physical problem hits the property . In this episode of Stories Behind the Door, I sit down with Chris Terrigno, the 22-year-old Co-Founder of Boots and Mortar, to discuss how his company is solving the maintenance problem for modern operators .

Chris details how Boots and Mortar bridges the gap between digital property management and physical facilities by deploying background-checked, W2 technicians on recurring schedules for overlocks, unit turns, and repairs . We explore how their technician app and client portal give remote owners complete photographic visibility, how Chris dialed thousands of facility managers to hone their service offering, and how he applies John Wooden's classic discipline to build a high-accountability business while finishing his degree at Colorado State .

• The Missing Link in Remote Ops: Why unmanned facilities struggle with local handymen and how centralized maintenance protects NOI .

• White-Glove Field Execution: Recruiting disciplined professionals—such as local firefighters—for recurring site visits .

• Total Transparency: Replacing guesswork with technician apps and client portals providing live photographic proof of work .

• Cold-Calling as Market Research: How asking operators for advice instead of pitching built a nationwide pipeline .

• Founder Focus at 22: Balancing CSU classes, dialing 100+ owners a day, and building a scalable service model .

Connect with Chris: Visit bootsandmortar.com or reach out directly at [email protected] .

Sponsor Shoutout: Brought to you by Kiwi 2 Construction . Wayne Woolsey and his crews bring 30+ years of structural steel experience to self-storage and small bay flex developments . Head to kiwisteel.com early in your planning to put three decades of steel expertise behind your next build ! As always, special thanks to Barry Sherman and the team at S3 Partners .

A career pivot driven by family in 2000 became a 25-year journey at the forefront of commercial self-storage . I sit down with Darren Kelly, Co-Founder and President of Right Move Storage, for an inside look at operational grit, distressed turnarounds, and agile PropTech execution .

Darren takes us inside Public Storage during the Shurgard acquisition and the early rollout of centralized revenue management . He shares the brutal trial by fire after 2008, when he helped restructure a 70-facility portfolio facing 40 maturing loans, saving 69 of them and cementing his rule that every operational penny matters . We also break down how Darren stays ahead of institutional REITs today by splitting Right Move into Premier and Remote platforms, becoming the first to scale Storage Defender across his stores, and turning unmanned facilities into full e-commerce retail engines .

• From Hospitality to Storage: Why the "lost room night" concept made self-storage the ultimate low-headcount operating model .

• The Shurgard Integration: Operational lessons from integrating rival cultures inside Public Storage .

• The Distressed Portfolio Rescue: Navigating angry syndication investors and frozen bank debt post-GFC .

• The Multiplier Math: Why a lost penny isn't just a cent when cap rates translate $1 of NOI into $16 to $20 in property value .

• Bifurcating the Operating Model: Deploying Right Move Premier vs. Right Move Remote to combat rate compression and rising OpEx .

• Cutting Through Chaos: Applying the Eisenhower Matrix and Ross Perot's three-task discipline to lead high-growth companies .

Connect with Darren: Visit rightmovestorage.com .

Sponsor Shoutout: Brought to you by Kiwi 2 Construction . Wayne Woolsey and his crews bring 30+ years of structural steel experience to ground-up self-storage and small bay industrial flex builds . Visit kiwisteel.com early in planning to put three decades of steel experience behind your project .

When Desmond Fortenberry graduated from Florida State in May 2020, commercial real estate was in uncharted territory. Instead of waiting on the sidelines, he hit the road, dug through county GIS property maps, drove hours across the Panhandle to share coffee with owners, and built a brokerage career on old-school relationships.

Now Senior Vice President at Oakside, Dez joins me on Stories Behind the Door for a fast-paced look at the ground-level realities of self-storage transactions. We break down how he transitioned from notepads and parcel maps to institutional brokerage under John Lindsey, why finding operational fat, like shaving $28,000 off a tax bill, creates real equity, and what operators must prepare for as commercial debt matures toward 2027.

• The Old-School Blueprint: Why face-to-face road trips beat CRM shortcuts when building real owner trust.

• The Power of Mentorship: What Dez learned about institutional deal-making after teaming up with John Lindsey.

• Creating Equity Through NOI: How cutting $28K in property taxes added over $460,000 in capitalized asset value.

• The Competitor's Mindset: Why treating peer brokers like tennis rivals makes everyone in the asset class better.

• The 2027 Horizon: Navigating loan maturities, balloon payments, and distress scenarios in today's debt climate.

Whether you are actively trading assets or looking to protect cash flow against debt maturities, Dez's practical take delivers a clear view of modern storage brokerage. Connect with Thaddeus Campbell (S3 Partners): Email: [email protected] LinkedIn: https://www.linkedin.com/in/itsthadcampbell/

Connect with Dezmond Fortenberry Email: [email protected] LinkedIn: https://www.linkedin.com/in/dezmon-f-8568038a/

Sponsor Shoutout: Sponsored by Kiwi 2 Construction. Wayne Woolsey and his team bring 30+ years of premier structural steel expertise to ground-up self-storage and small bay industrial flex builds. Head to kiwisteel.com during your planning phase to put their experience to work on your next development. Special thanks, as always, to Barry Sherman and the team at S3 Partners!

I sit down with Scott Chase, President of U-Haul of Eastern Massachusetts and Board Director of the Northeast Self Storage Association (NESSA), for a grounded, behind-the-scenes look at leadership, culture, and operational strategy within one of commercial real estate's legacy operators.

Scott started with U-Haul nearly 30 years ago fresh out of high school, taking a part-time job behind the counter to support his young family. Over the course of three decades, he rose through field management and has led the Eastern Massachusetts market for the past 15 years. In this episode, Scott shares how U-Haul maintains an entrepreneurial, low-bureaucracy environment where executives are promoted from within, and operational decisions can be cleared in as few as three phone calls.

We examine U-Haul's deliberate counter-cultural stance on rate increases: while major REITs leaned into aggressive Existing Customer Rate Increases (ECRIs) post-COVID, U-Haul implemented rate-lock guarantees and modest rent bumps tied strictly to property improvements to safeguard customer trust and retain long-term occupancy. Scott also breaks down how his team navigates Boston's chaotic September 1 university lease turnover, why technology must deliver tangible tenant value to justify its cost, and why regional associations like NESSA are vital for the independent operators managing 48% of the country's self-storage supply.

• The Promote-From-Within Engine: How U-Haul cultivates deep loyalty and operational fluency by ensuring every leader has spent real time working the counter.

• Rethinking Rate Management: Why U-Haul rejected the REIT playbook of aggressive move-in discounts followed by steep ECRIs, opting instead for rate stability and long-term customer goodwill.

• Operational Humility: Why Scott still works front counters during peak move-in weekends to stay grounded in customer realities and lead by example.

• The Independent Operator Moat: How regional and state associations like NESSA protect local facility owners through localized legislative advocacy and operational education.

• Pragmatic PropTech Adoption: Why facility operators should prioritize technologies that directly enhance customer experience rather than adopting tools that only serve internal vanity metrics.

Whether you operate a portfolio of stores or manage boots-on-the-ground facility teams, Scott's candor and thirty-year operational perspective provide a masterclass in people-first leadership.

Learn More About NESSA: Visit nessa.org to get involved with regional self-storage education and networking.

Sponsor Shoutout: This episode is brought to you by Kiwi II Construction. Wayne Woolsey and his team bring over 30 years of premier experience erecting structural steel for self-storage and small-bay industrial flex builds. Visit kiwisteel.com early in your planning phase to put three decades of steel construction expertise to work on your next ground-up development.

I sit down with Ethan Gallowitsch, Chief Product Officer at TractIQ, for an inside look at how two former college lacrosse teammates teamed up to transform data transparency in self-storage.

Ethan and TractIQ CEO Noah Starr spent their college years at the University of Texas at Austin as co-captains running their club lacrosse program, dreaming up business concepts on their apartment rooftop after graduation. While Noah pursued real estate acquisitions, Ethan ran an early startup before joining Google, where he worked on YouTube ad revenue systems and early LLM implementations. But when a corporate promotion made him realize he was climbing the wrong ladder, Ethan walked away to build TractIQ alongside Noah and their partner Marina.

In this episode, Ethan shares the evolution of TractIQ from an internal underwriting script into an indispensable industry platform monitoring more than 72,000 facilities. We discuss why Noah stepped away from buying facilities to protect client trust, how the team adopted the philosophy of Unreasonable Hospitality to deliver sub-five-minute customer response times, and why real-time construction starts and CMBS debt data have become essential tools for modern acquisitions and development.

• The Co-Founder Dynamic: How managing team budgets, travel, and logistics in college club sports laid the operational groundwork for launching TractIQ.

• Leaving the Corporate Machine: Why Ethan stepped away from Google after realizing corporate promotions failed to provide true entrepreneurial fulfillment.

• Eliminating Conflicts of Interest: The critical decision Noah and Marina made to halt their own facility acquisitions so TractIQ would never compete against its users.

• High-Touch Customer Success: Implementing "Unreasonable Hospitality" where engineering and product teams interface directly with clients daily via private group chats.

• Rapid Deployment Cycles: Why shipping incremental 10% improvements directly from user feedback consistently beats multi-year corporate roadmaps.

• Macro Insights on the Ground: Utilizing verified data—including nationwide construction pipeline maps, floodplains, and debt maturity records—to underwrite self-storage and small bay flex deals.

Whether you are underwriting your next storage build or scaling a software platform, Ethan's perspective delivers an exceptional look at product discipline, speed, and founder alignment.

Access TractIQ:

Head to trackediq.com/tssr to check out the platform and access our listener discount!

Connect with Thaddeus Campbell (S3 Partners):

Email: [email protected] LinkedIn: https://www.linkedin.com/in/itsthadcampbell/

Connect with Ethan Galowitz Email: [email protected] LinkedIn: https://www.linkedin.com/in/ethan-galowitz/

This Episode was brought to you by: https://www.kiwisteel.com/

I sit down with Shon Bennett, Director of Business Development at Go Store It, for a deep dive into the evolving world of third-party self-storage management .

Shon spent 14 years at Extra Space Storage, beginning behind the counter as an assistant manager before leveraging a decade of operational field experience to join their corporate third-party management division . Two years ago, Shon took a leap of faith to join COO Bo Agnello and help scale Go Store It into a national powerhouse .

In this episode, Shon breaks down how Go Store It navigated the prolonged industry down-cycle and expanded its footprint to about 250 owned and managed locations . We examine the structural shift happening in third-party management, where mega-REITs are hitting concentration limits in primary markets and passing on tertiary assets, leaving a massive runway for tailored operating models . Shon also explains his philosophy on PropTech, using software and AI as targeted "NOS" rather than building an entire operation around shiny tools, and analyzes why customer retention and length of stay have become the ultimate revenue drivers when existing tenant rates significantly outpace discounted move-in pricing .

• The Operational Foundation: Why starting as an on-site store manager provides an unmatched foundation for high-level third-party client reporting and asset oversight .

• The Mid-Market Opportunity: How Go Store It builds customized operating models that blend centralized call centers with remote or hybrid staffing for facilities that don't fit REIT formulas .

• Disciplined Tech Adoption: Why operators must pinpoint their exact operational friction points before buying software, avoiding the trap of chasing every shiny vendor on the trade show floor .

• The Power of Retention: Why safeguarding tenant relationships and maintaining physical asset standards drives higher yields than continually replacing churned renters at deep move-in discounts .

• Culture and Team Building: How assembling a high-caliber leadership team alongside Bo Agnello, Andrew Jones, and Mike Linquata accelerated Go Store It's 3PM expansion .

Whether you are evaluating third-party management options or seeking operational clarity in today's shifting storage market, Shon's field-tested frameworks offer an indispensable guide . Connect with Thaddeus Campbell (S3 Partners): Email: [email protected] LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Shon Bennett (GoStore It) Email: [email protected] LinkedIn:https://www.linkedin.com/in/shon-bennett-5ab002127/ This Episode was brought to you by: https://www.kiwisteel.com/

I sit down with Mark Cieri, Co-Founder and CEO of Storage Defender, for a deep dive into PropTech innovation, unit-level monitoring, and entrepreneurial grit

Mark spent more than two decades in international high-tech and semiconductors before running the North American Smart Home Division for Philips Hue . Recognizing that residential smart automation centered entirely around customer peace of mind, Mark launched Storage Defender to bring that same intelligence to self-storage

In this episode, Mark explains how tenant-facing smart monitoring creates a high-margin ancillary revenue stream for owners while delivering critical operational data . We discuss how in-unit sensors capture motion timestamps, duration, temperature, and humidity to assist with staffing, HVAC audits, and predictive security Mark details how the sector evolved from 2021's easy rate-increase environment into today's focus on ancillary income to combat rising property taxes, labor, and debt costs . He also shares how early adopters like Darren Kelly of Right Move Storage helped prove the model, why he views entrepreneurs as bringing "dead" startups to life, and the difference between a preservation mindset and a mission mindset

• The Smart Home Foundation: Why consumers gladly pay a recurring premium for peace of mind, whether for their living room or their remote storage unit

• Turning Security into Cash Flow: How unit-level monitoring evolved from a perceived cost into an operator-driven profit center yielding up to $15/month per unit

• Operational Intelligence: How tracking customer dwell times and access frequency helps operators optimize on-site labor and identify unusual tenant behavior

• Navigating Market Cycles: Why ancillary services are essential for expanding facility NOI during periods of flat street rates and elevated operating costs

• Mission vs. Preservation: The mental framework needed to overcome startup doubt and maintain conviction through early-stage friction

Whether you operate a single facility or oversee a national portfolio, Mark's perspective offers a clear blueprint for boosting facility value and customer retention

Connect with Mark: Visit storage-defender.com or reach out directly at [email protected]

Sponsor Shoutout: This episode is brought to you by Kiwi Steel . Wayne Woolsey and his team bring over 30 years of premier experience erecting structural steel for self-storage and small-bay flex developments . Visit kiwisteel.com early in your design phase to put three decades of steel construction expertise to work on your next build

I sit down with Albert Kim, Co-Founder and Chief Technology Officer of StoragePilot.ai, for an in-depth conversation on artificial intelligence, operational automation, and software development in self-storage.

Albert built his first startup, Greenline POS, into an online IT retailing and compliance engine serving over 600 businesses across Canada before exiting in 2022. After entering commercial real estate, Albert teamed up with ex-Public Storage VP Kyle Lawrence and industry veteran John Lindsay to build specialized AI agent infrastructure designed specifically for storage facilities.

In this episode, Albert breaks down the mechanics behind StoragePilot's dual-agent ecosystem: the external-facing AI Property Manager (handling inbound calls, reservations, gate codes, and payments) and the internal AI District Manager (guiding facility teams through company SOPs and data). We discuss why over 50,000 independent and mid-market facilities must adopt automated communication to defend margins against REIT systems like Public Storage's "Ellie," how AI is transforming engineering workflows, and how welcoming a newborn daughter shapes his long-term view of technology.

• The Transition from Retail IT to CRE: How scaling a regulatory compliance platform to 600+ locations prepared Albert to build enterprise systems for storage.

• Two Fronts of Storage AI: The difference between customer-facing property management agents and internal district management support agents.

• Closing the Missed-Call Bleed: Why automated 24/7 call and chat response protects high-cost marketing leads from dropping into voicemail.

• The 50,000-Facility Opportunity: Why mid-market and single-facility operators have the most to gain from AI tools that eliminate staffing bottlenecks.

• The Entrepreneurial Metric: Why delivering clear, repeatable ROI that makes a client say "let's do business again" remains the ultimate founder benchmark.

Whether you are an operator looking to eliminate operational friction or an investor evaluating PropTech adoption in 2026, Albert's insights deliver a clear roadmap for the future of automated facility management.

Connect with Thaddeus Campbell (S3 Partners): Email: [email protected] LinkedIn: https://www.linkedin.com/in/itsthadcampbell/

Connect with Albert Kim (StoragePilot.ai) Email: [email protected] LinkedIn: https://www.linkedin.com/in/albert-kim-84a6169b/

Sponsor Shoutout: This episode is brought to you by Kiwi Steel. Wayne Woolsey and his team bring over 30 years of premier experience erecting structural steel for self-storage and small-bay flex developments. Visit kiwisteel.com early in your design phase to tap into three decades of construction expertise on your next ground-up build.

I sit down with Armand Aghadjanians, Director of Acquisitions at Store Here Self Storage, for his first-ever podcast appearance. Known across LinkedIn for his deep-dive research and data transparency, Armand brings an unfiltered, analytical perspective to modern real estate acquisitions.

Armand shares his journey from an art history background and a role in commercial brokerage at Colliers to joining a seasoned acquisition team with decades of combined experience. We discuss the mechanics of underwriting discipline, exploring why Store Here cut their acquisition volume to a fifth of their historical average during the peak buying craze rather than stretching projections to win deals. Armand outlines his macro framework for tracking capital cycles, explains why he openly shares his investment thesis online, and breaks down the core due diligence checkpoints outlined in his new book, Self Storage Due Diligence: A Checklist for Investors.

• Underwriting with Restraint: The courage required to push back capital and decline deals when market pricing disconnects from realistic operational forecasts.

• Macro Cycle Awareness: Why long-term investment success comes from waiting for clear opportunity windows rather than chasing every market run.

• The Power of Open Playbooks: How providing transparent education elevates market standards and prevents destructive pricing mistakes across the industry.

• Escrow Execution: The critical 75-item checklist buyers need to audit operational records, vendor contracts, and physical assets during due diligence.

• Family-Driven Purpose: How 4 AM mornings and a dedicated family life fuel a relentless commitment to professional excellence.

Whether you are evaluating your first storage acquisition or managing an active investment pipeline, Armand's research-heavy frameworks offer an indispensable guide for navigating today's market.

Connect with Thaddeus Campbell (S3 Partners): Email: [email protected] LinkedIn: https://www.linkedin.com/in/itsthadcampbell/

Connect with Armand Aghadjanians (Store Here Self Storage) Email: [email protected] LinkedIn: https://www.linkedin.com/in/aghadjanians/ Get Armand's book here: https://a.co/d/0cSWxwOI

Sponsor Shoutout: This episode is brought to you by Kiwi Steel. Wayne Woolsey and his team bring over 30 years of premier experience erecting structural steel for self-storage and small-bay flex developments. Visit kiwisteel.com early in your design phase to tap into three decades of construction expertise on your next ground-up build.