Building (Better) Self Storage Facilities Across the Midwest | Beau D. Reinberg

Raj Tut is joined by Beau D. Reinberg – Principal and Co-Founder of BestBox Storage, Diversified Structure Solutions, and BCM Management Partners. He’s been involved in the deployment of over $200mm of equity and just under $1 billion of total deal capital for everything from 300 single family rentals to Class A self storage with the largest university endowment in the world as an equity partner on the self storage deals. BestBox, in a partnership with Keeley Properties is building a portfolio of 40 self storage facilities in 8 different states. Beau also owns, in partnerships, 200k square feet of industrial real estate, 100k square feet of mixed-use real estate, and over 200 acres of future development ground in 3 states. His GC company has built more self storage than any GC in the Midwest over the past 5 years, including 5000 units.   On this episode, Raj and Beau discuss: ⚫ How his unique upbringing shaped him ⚫ How partnerships help him scale ⚫ His first big storage deal ⚫ How he performs due diligence on sites and facilities ⚫ How BestBox is changing self storage branding ⚫ Why customer service is a huge competitive advantage ⚫ How the world’s largest university endowment became an investor in his deals  Topics: 00:00 Intro 01:35 Beau’s 3 companies. 03:40 How he manages the scale of his operation and why partnerships matter. 05:30 How he grew up and how it shaped him into who he is now. 09:19 His first experience with entrepreneurship. 12:00 Beau’s first exposure to real estate. 15:54 His first few commercial real estate deals and the mistakes made. 16:27 His first self storage deal and the mistakes made. 20:20 What Beau did to pay the bills while figuring out his real estate niche. 23:40 His big break and early self storage homerun that = generated outsized returns. 26:05 How he grew from raising capital from friends and family to having the world’s largest university endowment backing his deals. 29:03 How his BestBox partnership was formed. 33:43 What it means to make storage “sexy”. 35:03 How Down Syndrome impacted his life. 36:50 The small things they do at self storage facilities to improve the experience. 39:00 The types of self storage locations they look for. 40:33 Predicting future self storage demand. 43:02 How they evaluate a new development site. 45:48 BestBox’s due diligence process after going under contract. 48:22 Typical self storage financing options. 50:12 Does BestBox have a prototype they like to build? 51:45 Why customer service is important. 53:34 The construction materials they pay more attention to. 55:00 Why online reputation matters and how they drive reviews. 55:33 Bringing apartment marketing to self storage units. 1:00:26 How the world’s largest university endowment became an investor in Beau’s projects. 1:03:44 Hole in One - Beau's advice for you to improve your life and business  Support our Sponsors: Storyboard Living - If you are looking to sell a multifamily property in the St. Louis region or Southern IL/MO please email [email protected] Follow Storyboard Living on LinkedIn - ⁠https://www.linkedin.com/company/storyboard-living/ Raj Tut on Social Media: Twitter: ⁠twitter.com/ItsRajTut ⁠LinkedIn: ⁠https://www.linkedin.com/in/rajtut/ ⁠Instagram: ⁠instagram.com/ItsRajTut⁠ TikTok: ⁠https://www.tiktok.com/@itsrajtut ⁠YouTube: https://www.youtube.com/⁠⁠ @ItsRajTut ⁠⁠   Learn More about Beau D. Reinberg: www.bestboxstorage.com   Leave a review on Apple: https://podcasts.apple.com/us/podcast/country-club-conversations/id1709895268   Leave a review on Spotify: ⁠https://open.spotify.com/show/4ovakj2lJMS7GLqgBdt766   #countryclubconversations #business #businessideas #multifamilyindustry #realestate #motivation #multifamily #entrepreneur #entrepreneurship #rajtut #raj-tut #goals #multifamilyinvesting #realestateinvesting #commercialrealestate #multifamilyrealestate #businesspodcast #smallbusiness #selfstorage #selfstoragedevelopment #realestatedevelopment #selfstorageinvesting