Send us a Text Message. 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 ..read more

Send us a Text Message. 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 venture ..read more

Send us a Text Message. 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 ..read more

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 pr ..read more

What are the banks looking for right now when it comes to loans? In this episode, Scott warms up the conversation with proven strategies for securing self-storage loans amidst a challenging economic climate. He explains the evolving lending environment, the criteria lenders use to assess loan applications, and provides actionable strategies for presenting strong loan requests. Scott emphasizes the importance of having a solid business plan, understanding market conditions, and shopping loan requests to multiple lenders.   WHAT TO LISTEN FOR05:46 - Qualifying for a Loan: Key Criteria 10 ..read more

Meet the software turning self-storage ads into occupancy boosters! In this episode, Scott interviews Jason Zickler, co-founder of Adverank, about how their specialized software is changing paid advertising for self-storage operators. Jason explains how Adverank's innovative algorithm provides precise budget recommendations to maximize occupancy without overspending. The discussion includes a live demo of the software, showcasing its real-time data integration with property management systems and Google Ads, and highlights successful case studies, including a remarkable turnaround for a str ..read more

Syndicating self-storage deals just got trickier – here’s how to stay ahead. In this episode, Scott dives into the evolving landscape of the self-storage industry, emphasizing the challenges brought by rising interest rates, construction costs, and stricter lending practices. Scott outlines nine key fee structures in syndication, offering practical advice on balancing compensation and investor satisfaction. He provides valuable insights on how syndicators can adapt, including the importance of maintaining investor confidence and effectively managing fees. Listen For:03:32 - Fee Structures ..read more

Imagine the booming world of self-storage evolving into something even more specialized and lucrative. In this episode, Scott Meyers chats with Joe Downs of the Belrose Storage Group about the emerging niche of "pro storage" – a unique blend of contractor and RV/boat storage. They explore the untapped potential of this market, the challenges of zoning and site selection, and the high demand driven by shifting consumer trends. Joe shares insights from his journey, emphasizing the importance of strategic location and the growth opportunities in this promising sector. Listen For:02:38 - The B ..read more

Turn your savings into a wealth-building machine. Scott Meyers introduces Donnell and Angelique Stidhum, a dynamic duo dedicated to empowering individuals through financial literacy. They share their journey and strategies for leveraging self-directed 401(k)s, real estate investments, and other financial tools to achieve financial security and freedom. Highlighting the importance of community and clear goals, the Stidhums provide a roadmap for transforming traditional retirement accounts into a powerful wealth-building machine. Tune in to discover how to take control of your financial future ..read more

Site development is critical! In this episode, Scott shares the essentials of developing the perfect location for your self-storage business. From understanding zoning regulations and gaining community support to identifying red flags like environmental challenges and wetlands, he emphasizes the importance of due diligence and strategic planning. Scott highlights the critical role of market studies, feasibility assessments, and proactive consultation to ensure profitability and mitigate risks. He also discusses how a well-thought-out exit strategy and understanding the lender environment ca ..read more