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Ever wondered what could derail your self-storage investment before you even start?

Scott shares his personal blunders and lessons from over 20 years in the self-storage business, providing vital advice on how to avoid costly errors.

He highlights the critical importance of location, market analysis, and thorough planning.

WHAT TO LISTEN FOR
04:44 Market Analysis: Key Factors to Consider
15:02 Retail Mindset in Self Storage
20:19 Supply Index and Market Demand
25:36 The Role of Feasibility Studies

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Ready to break free from Wall Street's grip and build real wealth?

In this episode, Scott welcomes Russ Morgan, co-founder of Wealth Without Wall Street, to discuss the power of passive income and alternative investments in achieving financial freedom.

Russ and his partner Joey Mure have created a groundbreaking book that offers a three-step process for success: setting clear goals, developing a personalized plan, and finding support within a community of like-minded investors.

Through their unique approach, Russ and Joey empower readers to align their investments with their individual preferences, risk tolerance, and interests, leading to more engaging and successful outcomes.

From hands-on real estate ventures to hands-off opportunities, they share insights from their thriving community of nearly 9,000 members who are transforming their lives by building passive income streams, leaving a legacy, and making a lasting impact.

WHAT TO LISTEN FOR
03:22 - Three-Step Process for Passive Investing
16:39 - Achieving Financial Freedom
25:33 - Vetting Syndicators and Investment Strategies
35:58 - Growing a Community of Successful Investors

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GUEST: RUSS MORGAN Website | Listen to episode 157 with Russ Morgan and Joey Mure

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Are you leveraging every financial advantage in your self-storage business?

In this episode, Scott Meyers, the original SELF-STORAGE EXPERT, welcomes back Sean Graham to discuss the benefits of cost segregation for real estate investors, particularly those in the self-storage sector.

Sean, a CPA with extensive experience in real estate and cost segregation, explains how this strategy can significantly accelerate depreciation, providing substantial tax benefits by front-loading expenses.

They cover the financial implications, the potential savings, and the practical application of cost segregation studies, emphasizing the value of understanding and utilizing these financial tools.

The conversation also touches on the efficiency of using virtual assistants for property management and other business operations, highlighting the cost-effective solutions available for real estate professionals.

WHAT TO LISTEN FOR
02:36 - Benefits of Cost Segregation for Self-Storage Owners
07:31 - Detailed engineering studies
18:10 - Time Value of Money and Inflation
24:45 - Property Management with Virtual Assistants

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Sean Graham
LinkedIn | Maven Cost Segregation | Maven Cost Seg. Email | Maven Success
Get the discount Sean mentioned

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Can niche markets like RV and boat storage be the game-changer your business needs?

In this episode, Scott chats with Gary Edmonds, a seasoned storage manager, about his journey from a commercial lender to a thriving storage facility owner and third-party manager.

Gary shares his insights on managing facilities efficiently, the importance of meeting customer demands 24/7, and the evolving role of technology in the industry.

They also discuss the potential in niche markets like RV and boat storage, and the critical importance of constant attention to facility operations.

WHAT TO LISTEN FOR
03:57 - From Banker to Storage Boss
06:22 - Mastering Remote Management
09:32 - Expansion Strategies
28:38 - Niche Markets Explored

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GUEST: GARY EDMONDS
LinkedIn | Website

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Ever wondered how to turn a sleepy self-storage facility into a bustling profit powerhouse?

Unlock the hidden potential of self-storage with the expert insights from Peter Smyth on the Self-Storage Podcast. Scott and Peter explore the nuances of tailoring management strategies to individual needs, enhancing customer experience, and sustaining growth in a challenging economic landscape.

Peter discusses the competitive edge and strategic advantages of White Label Storage management, emphasizing how to transform overlooked or mismanaged facilities into profitable ventures.

Through real-world case studies, he illustrates the importance of leveraging technology, effective revenue management, and customized services to optimize operations.

WHAT TO LISTEN FOR
00:58 - Creating a White Label Storage Brand
10:48 - Revenue Management and Cost Reduction Strategies
15:17 - Logical Pricing Parameters
19:15 - Balancing Quality and Cost Reduction

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GUEST: PETER SMYTH
Peter’s LinkedIn | White Label Storage LinkedIn | X | Facebook |

Website | Email

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It was all about cold calls in the early days.

Rachel Parham of Noah's Ark Development remembers her dad making call after call to manage a portfolio of over 400 facilities.

Nothing wrong with good, honest, nose to the grindstone hard work. And it paid off. Rachel emphasizes the importance of due diligence, market studies, and experienced partnerships while discussing the challenges and opportunities in today's market.

WHAT TO LISTEN FOR:
05:14 - A Family Affair
15:37 - Strategic Site Selection
18:27 - Adapting to Market Demands
24:00 - The Power of Technology

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GUEST: RACHEL PARHAM | President Noah’s Ark Development
Website | Facebook | Learn Self Storage Videos | Blog | Invest in Noah’s Ark

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Tom Dunkel, Chief Investment Officer at Belrose Storage Group, discusses the increasing demand for boat and RV storage in the US.

He explains that the production of RVs and boats is outpacing the creation of storage spaces, with homeowners’ associations and municipalities often restricting parking in residential areas. Dunkel suggests that this demand, coupled with the low maintenance and high margins of such facilities, makes boat and RV storage an attractive investment.

However, he acknowledges that raising capital for these projects can be challenging due to investor unfamiliarity with the asset class and current economic uncertainties.

Despite these challenges, Dunkel remains optimistic about the future of boat and RV storage, seeing it as a long-term growth opportunity.

WHAT TO LISTEN FOR
13:04 Growing Demand for Boat and RV Storage
15:17 Operational Ease
16:18 Future Growth Prospects
28:14 Challenges in Raising Capital

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This is an episode first published in September 2023. It’s one of our most popular.

In this episode Scott discusses the current state of the Self-Storage industry and why it’s attracting new investors. With other asset classes experiencing a downturn, Self-Storage remains a lucrative investment option.

Scott explains how self-storage thrives during economic downturns as businesses and individuals downsize, leading to increased demand and rental rates. He also highlights the benefits of investing in self-storage during a recession and the opportunities it presents. This episode provides valuable insights for those interested in entering the self-storage market or looking for alternative investment options.

WHAT TO LISTEN FOR
1:25 Why Self-Storage during economic downturns
8:26 A solid plan for getting started in Self-Storage
10:14 The vital importance of writing a business plan
23:00 How to really understand cashflow

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GUEST: Doug Downs
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