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7 contributions to Freedom Through Storage
Building your self-storage business but feel like your online presence
A professional website can make a huge difference when you’re trying to build credibility, attract opportunities, and present your business with confidence. A friend of mine who is an expert in website creation and redesign recently told me he’s building his portfolio and is looking to work with a few businesses that need either a brand-new website or a complete website revamp. If you’ve been frustrated with an outdated website, struggling to get your business online, or simply feel like your current site doesn’t represent the level you’re aiming for, this could be a great opportunity. 🙌 If you’re interested, drop a comment below or send me a DM. I’ll be happy to connect you with him and let you take it from there. Sometimes, getting your business to the next level starts with simply making sure people can see what you’re building. 💪
0 likes • 15d
I’d be curious to see a website he’s built for a self storage facility. I don’t own storage yet but a lot of small operators use the companies that have self storage specific websites ready to go that you just plug your facility into to use their template. Examples: Easy Storable (now owned by Storable) Storable CC Storage Cubby Sitelink Some others out there This way you have a site that’s ready-made for self storage and is user friendly and you don’t have to manage the website yourself.
Cold Call Blueprint - Questions I always ask to uncover value
Monthly or annual REVENUE - gives you a feel for performance. NOT their NOI, as their NOl takes into account their expenses and your expenses will be different than theirs since you won't run it the same way they do. And sellers often/nearly always skimp on their expenses to make the business look more profitable than it really is. Occupancy - both physical and economic (if they know it) - tells you about the local demand for storage Any recent repairs or deferred maintenance? helps you account for any large issues that may have happened of that you need to account for in your underwriting to price the deal right Reason for selling - this one is gold. Often tells you how flexible they might be. How they manage it - software (which one?), on-site manager, mom & pop system like pen and paper in a binder or 3x5 cards in a drawer (yes I've spoken with owners who do this), etc. Are they open to seller financing (aka taking payments over time / holding a note) - this flexibility can help you achieve a higher purchase price or down payment... etc, helps you structure the deal to meet their "needs and greeds" with selling the biz. Do they own it free and clear? If they want to sell it for $1M and they have a loan for $600k, they'll only be able to seller finance $400k, so you can structure your offers taking into account that they cant seller finance more than the equity they have in the deal. And before you end the call, ask if you can email them your contact info and a little about you. It helps them see you as more human, and it gives you their email so now you can follow up automatically even while you sleep using Schedule Send in gmail (or other email service)
0 likes • Jun 7
@Shane Chapin I’d love to hear what others are asking owners that they find helpful too in case I missed anything A rent roll is also great if they’ll share it. Then you can see what customers are paying higher or lower than their advertised rates. It’s a bonus to see this but not needed until you’re under contract.
1 like • 15d
@Nicole Wyckoff if they’re not interested in selling now you can ask if they’ve thought about it down the road. And if they say maybe, then ask how far out they are thinking. And then if I still get a cold answer I put them on a follow up list to call in 6 months. Not worth focusing much time on those.
Looking for a Closer - Get the Last Yard on Self-Storage Deals
Some of us look for VAs, cold callers, underwriters. I'm looking for something different: a closer. I do the legwork. I'll find the deals, build the seller relationship, underwrite the numbers, and get the first offer (or first few) on the table to narrow down what the seller actually wants out of the transaction. I'll get the deal to third base myself. I'm looking for someone to come in at that point, understand the deal, and help me close it out, whether that's one call or several with the seller, and get it signed. Compensation: $10k per closed deal, built into the financing and paid at closing. No closing, no payout. No equity in the deal, just a straight $10k fee. Doesn't matter if the deal even cash flows $10k in year one, you get paid regardless. I'll get it to third base. Come close deals for me. Bring them across home plate and put cash in your pocket.
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Making multiple offers
We’ve talked about how to structure an offer in such a way that all options presented to a seller would also work for you. Basically, we don’t want to provide an option to the seller that we can’t work with. Presenting one offer only leaves them 2 options. Say yes or say no. Instead, assume they are willing to sell and present 3 purchase options. Cash, bank financing, and owner finance. No matter what they pick, you’re buying a facility!! Now check out this attached offer we received from a potential buyer. All options are seller financed but I give them credit for the multiple options presented. Have you made any offers lately and if so, how did you structure it?
Making multiple offers
1 like • Jul 15
Great topic Shane. Even if a seller says there's no chance of seller financing, for example, because they're doing a 1031 exchange (which I’ve heard a bunch before), or in one case I'm working on, the husband is in poor health and doesn't want his family dealing with payments, is it still worth making a seller financed offer, or should I take that as a firm no seller financing? Also, when you say a "cash" offer, I assume that means bank financing? since the seller still receives all of their money at closing By the way, I really like how that person laid out the offers in a comparison chart. It made them very easy to compare. I also like that they included the seller's net proceeds. I've done that before but rarely see anyone else do it.
🚨 What's Possible in Self Storage? 🚨
This facility just hit the market again... And seeing it brought back a lot of memories because we used to own it. Here's the story. Back in 2021, another investor called me with a lead they didn't have time to pursue. At the time, I was very vocal about wanting facilities with 20,000+ square feet in the Southeast, and this one checked all the boxes. ✅ As we dug into the offering package, one number jumped off the page immediately... 👉 57% expense ratio. That was our opportunity. The facility was owned by a respected self-storage coach and several of their students, so we knew we'd have to look deeper than most investors would. When we started peeling back the layers, we found: • Expensive third-party management • High delinquency • Multiple abandoned units full of trash • Gates and cameras not functioning properly • Poor operational oversight And then we found something even better... Several units were listed as 5x5 units renting for around $25/month. The problem? They weren't 5x5s. They were actually 10x10s. Just correcting the unit mix added roughly 2,000 NRSF to the property on paper without building a single square foot. Think about that for a second. No expansion. No construction. No rezoning. Just better operations and better management. This is why I constantly tell people that value-add investing isn't always about building more units. Sometimes the biggest opportunities are hiding in plain sight. 📍 Purchased: November 2021 💰 Purchase Price: $560,000 Over the next 16 months we: ✅ Cut expenses ✅ Improved operations ✅ Fixed management issues ✅ Corrected unit data ✅ Increased revenue ✅ Added value 📍 Sold: March 2023 💰 Sale Price: $1.2 Million Now it's back on the market listed around $1 Million. The lesson? Most investors are looking for the next shiny object. The best investors look for inefficiencies. Value isn't always created with a bulldozer. Sometimes it's created with a spreadsheet, a phone call, and a willingness to dig deeper than everyone else.
🚨 What's Possible in Self Storage? 🚨
1 like • Jun 5
Ha I saw the email for this facility come through from Franklin Street and considered digging into it. Interesting that it's selling below what you sold it for. Think that's just due to the market softening from the high point when you sold it? Sounds like you already added the value to it by optimizing operations, so whoever bought it from you I'd assume just saw it as a cash flow opportunity?
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Dan Wentzel
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6 points to level up
@dan-wentzel-7427
Proud dad of 2 girls working to create time freedom for my family through self storage. Passionate about fitness, health, personal growth.

Active 1d ago
Joined Jan 12, 2026
Irvine, CA
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