Self Storage Income 317. We Bought 6 Self Storage Facilities While Working Full-Time
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Oct 7, 2025 Nick May, a CPA and co-investor, and Steven May, a bootstrapped operator, built six self-storage properties while keeping full-time jobs. They talk about cold-calling sellers, turning run-down facilities profitable with simple operational tweaks, local financing advantages, marketing to fill units, recycling cash to scale, and balancing hands-on management with growth.
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Cold Calls Landed Their First Facility
- Steven and Nick cold-called owners in the Lake of the Ozarks and bought their first facility after persistent outreach to a retiring owner.
- The 105-unit cinderblock facility was 60% full, required trash cleanouts, and closed in August 2021 with 15% down and local bank financing.
Use Local Banks For Better Loan Terms
- Use local banks or credit unions for small self-storage loans because they offer competitive terms and understand local land and asset specifics.
- On the first deal they secured 15% down, 20-year amortization, and ~4% interest from a local lender.
Modernize Marketing And Payments Fast
- Modernize operations immediately: create Google Business and Facebook pages, enable online payments, ask for Google reviews, and advertise on Facebook Marketplace.
- After these changes the facility hit wait lists and occupancy rose within months.