Self Storage Income

Practical tactics for lining up lenders and funding a self storage deal quickly. Tips on finding banks that understand storage and when to shop multiple lenders. A walkthrough of the essential documents lenders expect and how to be organized for underwriting. Using DSCR strategically in negotiations and building a business plan that makes lenders comfortable.

Korbin Smoot and Bill DeWaal, co-founders of Better Self Storage, are reshaping the self-storage industry with their remote management skills. They share insights on successfully operating 19 facilities across multiple states without being on-site. Their partnership thrives on complementary strengths in acquisitions and operations. Learn how they leverage virtual assistants for efficiency, refocused their underwriting strategies, and significantly increased revenue at their facilities. Plus, their take on competing with REITs and finding properties with operational upside is a game-changer!

Clear differences between LOIs and PSAs and when to use each in self storage deals. How to craft offers that sellers take seriously, including timelines, contingencies, and earnest money. Strategies to negotiate major terms before legal drafting and ways to show you are a legitimate buyer. Common seller tactics and red flags to avoid when getting a facility under contract.

This is the biggest opportunity in self storage since 2008. Last time we were at this stage in the cycle, I was on the cusp of building a $100M+ self storage business. I bought when conditions were almost identical to what we’re seeing today, and now, I’m gearing up to buy even more. But here’s the best part: beginners can get in on this, too. Today, I’m showing you how.   This could be your $100M opportunity if you know what’s coming down the pipeline.    Things are getting eerily similar to the situation after the Great Financial Crisis (2008). Interest rates are coming down, housing activity is going up, cap rates are compressing, and occupancy rates may be ready to rise again. This was almost exactly how conditions were in the early 2010s when I was heavily building my self storage business. Don’t believe me? I’ll prove it with data in this episode.   We’re buying now—and we’re buying a lot. If you’re debating investing in self storage or growing your portfolio, this episode will be crucial for you. I’m putting my money where my mouth is, investing millions of my own capital to grow my portfolio.    Do not miss this stage of the cycle.    What you’ll learn in today’s show: Why 2025 may be mirroring the aftermath of the 2008 Great Financial Crisis  The best time to buy in 20 years? I’ll prove why it could be 2025 and 2026  A $10M bet I’m making on self storage investments (I’ll explain why I’m bullish) The massive discounts we’re seeing in the market (we’re buying at 2015 prices) Where we’re buying self storage facilities and states/areas we feel confident in   Learn more about Heritage Fund investment opportunities:  https://go.cedar.cc/faq    https://go.cedar.cc/welcome *Accredited investors only. Limited capacity.*

What happens when interest rates spike, self storage demand dips, and REITs start a race to the bottom with rent prices? You’ve got the current state of the self storage industry, with shifting market dynamics that have made things difficult for smaller investors over the last few years. The question now is, where do we go from here?   Interest rates have had a ripple effect throughout the self storage industry, leaving smaller investors wondering how they can build wealth with self storage investing while REITs and private equity have a stranglehold on many major markets. AJ, Travis Morrow, and Lance Watkins break it all down in a session from this year’s SSI Live Event. There’s reason for optimism heading into 2026 and beyond, but investors will need to adapt to major changes if they want to coexist with the bigger players.   Savvy market analysis is more crucial now than ever, and adopting technology is no longer optional—even if you’re investing in rural areas. Fortunately, everyday investors now have access to data that wasn’t available to them just a few years ago. Whether you’re developing or buying self storage facilities, these insights will help shape your strategy going forward and give you an edge in your market! What you’ll learn in today’s show: How to compete with institutional investors (REITs) charging rock-bottom rates Why investors must analyze self storage deals more conservatively in 2026 How technology is transforming self storage (and how you could get left behind) The massive opportunities small investors have in secondary and tertiary markets Strategies that will help you determine whether to invest in a new market How rising interest rates created a “ripple effect” throughout the self storage industry — Tract IQ: https://tractiq.com/ 🌳 Work with someone experienced in self storage loans at Live Oak Bank! We seriously love them. https://www.liveoakbank.com/business-loans/self-storage/

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.

Clear six-step walkthrough for analyzing a self storage facility from scratch. How to define a practical buy box and use it to win brokers. Quick metrics to filter deals and when to dive into full underwriting. Tips for estimating revenue, major expenses, realistic CapEx, and secret-shopping competitor rents.

This is the biggest thing to happen to the self storage industry in years.    Last week, the Fed made their much-anticipated decision to cut rates. In the weeks leading up to the decision, interest rates fell sharply, reigniting the homebuying process for hundreds of thousands of Americans sitting on the sidelines. Rate cuts and mortgage rate declines will have momentous effects on the self storage market, and, I believe, will usher in a new cycle for self storage investing and wealth creation.   We, up until recently, have been going through a self storage recession. What most self storage investors don’t know is that some 40% of our customers come from moving alone. Raise interest rates, stop home purchases, and you cut off the lifeblood of the storage business. But now, that’s changing—and it’s changing in a major way.   In this episode, I’m going to explain why the Fed made their decision now (and whether they were too late), what lower interest rates mean for the self storage industry as a whole and your facility’s occupancy, and what I’m doing to prepare for this next cycle.   This is going to be HUGE.   What you’ll learn in today’s show: Interest rate update and the Fed’s recent decision to (finally) cut rates  What happens to self storage when rates fall (even by a small margin) How lower interest rates could bring back rent increases for storage facilities  My investing plan if rates continue to trend downward  Why the Fed changed their tone and what their new verbiage means  — Sign Up for the Self Storage Income Newsletter! - https://www.selfstorageincome.com/  📑 Our Self-Storage Feasibility Studies will help you speed up the process in understanding markets, potential risks, and analyzing the facility itself.  https://cedar.cc/feasibility-studies/ 

Braedon Haertling, a physician assistant turned self-storage and laundromat owner, bought his first facility with seller-carry financing and turned it into a six-figure income. He discusses scoring a $0-down deal, fixing deferred maintenance, boosting occupancy in a tiny town, reclaiming hidden units, and using simple value-adds to drive big equity and refinance plans.

A deep dive into 12 red flags that can make or break a self storage investment. Topics include population and employment trends, oversupply risks and how to spot new competitors. Learn about visibility and online presence, how to secret-shop competitor occupancy, unit mix pitfalls, deferred maintenance surprises, and which problems are fixable versus deal killers.