The Self Storage University Podcast

There are a lot of self-storage properties in financial trouble, and certainly more to come. The doubling of interest rates since 2022 and excessive over-building has created a market in which distress is common. In this Self-Storage University podcast we’re going to explore the correct game plan for buying distressed self-storage facilities.

It’s not uncommon for a self-storage facility owner to manipulate their numbers in hope of deceiving you into paying a higher price that is not justified by the current net income. In this Self-Storage University podcast we’re going to explore the different methods sellers use to alter and hide their actual performance.

Many self-storage buyers look for direction from real estate brokers. But in today’s market, that can often lead to bad investment choices. In this Self-Storage University podcast we’re going to review some of the untruths that the brokerage community is telling buyers as well as what you really need to know.

Given the current lending upheaval with storage facilities, obtaining seller debt is a welcome change from traditional banks. But there are some minimum thresholds regarding seller note construction that you need to be aware of. In this Self-Storage University podcast we’re going to explore the science behind these minimum standards.

Around 30% of all self-storage CMBS properties are on a “watch list” for default, and while the industry has fared well overall, there has been a change in attitude away from a standard practice called “extend and pretend”. In this Self-Storage University podcast we’re going to explore what this lender action is and what it means for the self-storage industry going forward.

Some Self-Storage deals have securitized “conduit” debt on them, which can create complications due to a requirement called “defeasance”. In this Self-Storage University podcast we’re going to review what this is exactly and strategies to minimize or eliminate it.

Forging a good deal in today’s climate requires creativity. And common tools to make the numbers fit – and ensure performance – are “escrows” and “earn - outs”. In this Self-Storage University podcast we’re going to review how to use these concepts when crafting a deal.

Most every self-storage facility as someone who acts as the manager, and their attitude and aggressiveness plays a key part in the asset’s success or failure. In this Self-Storage University podcast we’re going to review some concrete methods to motivate your manager to maximize your net income.

Any first offer that fails to elicit a counter-offer is deemed a failure. Despite this fact, too many buyers do not put enough thought or strategy in coming up with that price. In this Self-Storage University podcast we're going to explore the methodology behind making a successful first offer.

Elvis Presley did not produce many quotes but the few he had are worthy of introspection. In this Self-Storage University podcast we're going to review Elvis' thoughts on ego and why he was completely correct on the damaging side effects.

Self-Storage has had the second worst performance in U.S. commercial real estate, with the average property down 22% in value since 2021 – exceeded only by office buildings, which are down 35%. In this Self-Storage University podcast we’re going to review how some storage properties and owners got things so wrong and the lessons learned from their failure.

Just when the interest rate environment had started to stabilize, the war in Iran has thrown a monkey wrench into that smooth trajectory. In this Self - Storage University podcast we’re going to review the potential impact to U.S. interest rates from the current turbulent markets.

Tackling Tough Negotiators While most sellers are good-natured and fair, there are also ones that are nearly impossible to work with. In this Self-Storage University podcast we’re going to explore the proactive steps to disarming even the toughest negotiators.

Every smart self-storage facility owner strives to be properly protected from risk by carrying the correct insurance. But do you have every base covered? In this Self-Storage University podcast we’re going to review some of the risks you may not have considered.

Sometimes overkilling is a good business strategy. In this Self - Storage University podcast we’re going to explore how to take a lesson from World War I and use it as a success roadmap.

Every self - storage facility needs a manager – but you’ll make more money if you choose a great one. But to select a good candidate you must first think through what attributes they would possess. In this Self - Storage University podcast we’re going to explore what characteristics all great managers share.

Warren’s Buffett’s Big Weakness While Warren Buffett became the most successful stock investor of all time, he did have one big weakness that needs to be addressed. In this Self - Storage University podcast we’re going to explore Buffett’s one big flaw and how to avoid making the same mistake.

What if you could combine two well-established methods to find self-storage properties to buy and create one unified system to improve your odds greater than each component individually? In this Self-Storage University podcast we’re going to explore the one-two punch method to improve your deal flow.

There are methods of reducing taxes for self-storage owners, but they come with great risks that are rarely discussed. In this Self-Storage University podcast we’re going to explore the often misunderstood subject of tax deferral methods and their potentially harmful implications.

When you are looking at a self-storage facility to buy, sometimes comments are made by sellers, or their brokers, that have hidden meanings. In this Self-Storage University podcast we’re going to unlock what the simple expressions that many sellers and brokers use on a regular basis really mean.

Unless you can do everything yourself, you will have to hire contractors to perform certain services at your storage facility. But are you paying too much for them? In this Self-Storage University podcast we’re going to explore some strategies to get you the lowest cost from vendors.

Creating a sense of urgency for your self-storage facility seller can often be difficult. But when you’ve been waiting for a while for them to sign a contract, you realize that you have to take some proactive action. In this Self-Storage University podcast we’re going to review some of the most effective ways to build a fire under sellers.

Self-storage properties recently made the #1 position on the lists that nobody wants to be on: 1) fastest declining same-store occupancy and 2) fastest declining same-store rents. But with every storm cloud there is a silver lining for those who stay on top of the trends and make their plans accordingly.

For many storage buyers, seller financing is an important component to that transaction. In this Self-Storage University podcast we’re going to explore some of the methods you can use to enhance your ability to obtain seller carry.

There is an art to renegotiation based on the science of what’s worked in the past. In this Self-Storage University podcast we’re going to explore the best methods to get what you want when renegotiating a contract.

There are three types of sellers and only two of them typically result in a successful negotiation. In this Self-Storage University podcast we’re going to explore the different types of sellers in today’s market and rank your odds of achieving a winning deal with them.

If you are trying to expand your self-storage portfolio, but have run into a wall called available capital, you may have looked into the Reg. D 506 structure under the JOBS Act. But a proposed change to this opportunity may yield even greater potential. In this Self-Storage University podcast we’re going to review the pending change and what the impact might be.

The self-storage industry for larger owners is much more in peril than what they claim, yet many investors fail to heed the warning signs. In this Self-Storage University podcast we’re going to review why most large U.S. operators are in big trouble and how to learn from their mistakes.

In many self-storage loans today, there’s one major question for the borrower: “do you want a fixed rate or floating?”. In this Self-Storage University podcast we’re going to explore the good and bad of each option and how you can make your own decision based on your perception of the future.

America is filled with uncertainty, yet many storage owners have the mistaken idea that these challenges are quietly behind them. In this Self-Storage University podcast we’re going to review many of the headwinds the self - storage industry is facing and how to best position yourself to survive these shocks.

While copper and soybeans are some of the best-known commodities to trade, self-storage facility owners are also dependent on commodity pricing of their units. And there are certain winners and losers in this trading environment. In this Self-Storage University podcast we’re going to review the future of the storage commodity and pick the winners and losers.

When performing due diligence on a self-storage facility, the questions you ask have a huge impact on gathering facts – especially regarding the costs of capital improvements or maintenance projects. In this Self-Storage University podcast we’re going to review the questions to ask and the questions to avoid.

Many buyers feel the least of their worries is the actual date of closing, but that’s not true. There’s a strategy to closing on a deal that can determine just how smoothly the transition goes. In this Self-Storage University podcast we’re going to explore the impact of the closing date you choose (or get railroaded into choosing).

Many of the self-storage deals out there are wholly unappealing. So what does it take to make a storage facility acquisition compelling? In this Self-Storage University podcast we’re going to explore the metrics behind evaluating a property and come to some conclusions on what should make you interested as well as what should make you run away.

There’s an old saying “when the tide goes out you find out who was swimming naked”. And with all of the economic chaos in the U.S. right now, the tide certainly appears to be going out. In this Self-Storage University podcast we’re going to review strategies to not be caught swimming naked.

It costs money to build or buy a billboard, and for many people that means getting a loan. But how can you find a lender and get a loan when you are just starting out? In this Billboard Mastery podcast we’re going to explore this topic and discuss some real-life methods to make lending attainable.

U-Haul has historically been a great source of information on population movement. On a regular basis they publish the results of “one-way” rentals that give insight into both where Americans are going but also where they’re leaving. In this Self-Storage University podcast we’re going to explore the meaning behind the latest numbers.

A contract is a legal agreement that is signed by both parties – and sometimes you have to alter that basic agreement to get one or both parties to execute it. But how far can you go in modifying these documents? In this Self-Storage University podcast we’re going to review what’s acceptable and not, as well as what the ramifications are as you edit a standard agreement.

Webster’s Dictionary defines a “trap” as “a situation in which people lie in wait to make a surprise attack”. We’re all familiar with doing this to mice using a spring and a piece of cheese. But some self-storage owners use this same principle when selling their storage property. In this Self-Storage University podcast we’re going to discuss the common traps that some sellers use and how to diffuse them.

Every self-storage facility seller has two basic traits that guide their decision-making: 1) emotional and 2) rational. How you appeal to and guide these factors can be a key ingredient to forging a successful deal. In this Self-Storage University podcast we’re going to drill down on how to use these attributes to your benefit.

There are too many people extolling the virtues of self-storage investing that have a stake in convincing you of false narratives. They will claim that demand is growing when, in actuality, occupancy in plunging. They will tell you that a market is "hot" when, in reality, it's a buyer's market. In this Self-Storage University podcast we're going to explore why you can't really trust anyone in the storage industry and must rely only upon what you can tangibly see or discover yourself.

There is a lot of pain and suffering among self-storage owners that paid too much for their facility, didn't operate it effectively, bought in the wrong location, or have been obliterated by competition. These type of situations often lead to mortgage default. So you do you buy self-storage properties in default? In this Self-Storage University podcast we're going to explore how default occurs, review how it is often addressed by banks, and discuss the steps required to buy a property in default.

Bluffing is not just a part of playing poker – it’s also found in working with self - storage facility sellers. In this Self - Storage University podcast we’re going to explore some of the most common seller bluffs and how to diffuse them.

There is $2 trillion of commercial real estate mortgage debt coming due over the next two years. Given the low values and occupancy of much of these holdings, it’s assumed there will be a “commercial mortgage apocalypse” as a result. In this Self-Storage University podcast we’re going to review this event and where it currently stands.

Understanding The "Crocodile Defense" Maybe it’s a slip-and-fall claim or someone who make the false assertion that you sold their unit for non-payment in contradiction to the law. Regardless of the problem, a smart move is to adopt the "crocodile defense". In this Self-Storage University podcast we’re going to review what this means and how you can use this theory to better your odds of prevailing

You don’t have a deal until both parties have signed. So what do you do when the seller is dragging their feet? Is there a way to push them along? That’s the focus of this Self-Storage University podcast, in which we explore the methods available to get the seller to get out their pen and actually sign your deal.

Webster’s Dictionary defines an “appraisal” as “an expert opinion of value”. But sometimes the expert gets it wrong and your deal can collapse under the weight of that mistake. In this Self-Storage University podcast, we’re going to explore what the options are when the appraisal comes in too low.

Everyone likes to talk about giant storage deals because they associate size with “sexiness”. However, the truth is that many of those big deals are total failures and there’s nothing attractive about losing money. Instead, for many investors in self-storage, smaller deals offer greater safety and financial returns. In this Self-Storage University podcast we’re going to explore why smaller deals are often a better choice. 

Most every self-storage property you look at buying seemingly has three sets of books: 1) what the seller promises you 2) the Profit & Loss statements they give you and 3) the tax returns. And the problem is that often these three different viewpoints don’t align. What does that mean and what can you do about it?

Most real estate buyers have an endless attraction to what are called “hot markets”. But this pursuit has some disastrous results for most self-storage buyers. In this Self-Storage University podcast we’re going to explore the truth about “hot markets” and how to approach them properly.