How I Find Self-Storage Deals (And How You Can Too)
I own a dozen storage facilities across 4 states. I'm a full-time firefighter. I say that because I want you to understand that I didn't start with connections, a real estate team, or a pile of capital. I started by picking up the phone.
I see a lot of posts on here from people interested in self-storage but stuck at the same point: "How do I actually find a deal?"
Here's exactly how I do it.
1. START WITH WHAT'S LISTED
LoopNet and Crexi. Yes, seriously. I know the common advice is that "all the good deals are off-market." That's not entirely true, especially in storage. A lot of mom-and-pop owners list their facilities on these platforms and they sit there for months because most investors scroll right past anything that isn't multifamily.
I've bought listed deals. The key is knowing how to underwrite them properly. A facility that looks like a bad deal at the listed price might be a great deal once you understand the operational upside the current owner is leaving on the table.
First facility I purchased was listed for 850k, we closed at 705k, and I sold it 2 years later for 1.25m
2. COLD CALL OWNERS DIRECTLY
This is where most of my best deals come from. Here's the process:
- Go to Google Maps
- Search "self storage" in markets you're interested in
- Find the facilities that look dated, have no website, or have a phone number on a hand-painted sign
- Call the owner and have a conversation
You're not calling to pitch. You're calling to learn. Ask how long they've owned it, how business is going, whether they've thought about selling. Most will say no. Some will say "not right now but maybe in a year." A few will say "actually, I've been thinking about it."
Those few are your deals.
I keep a pipeline of every owner I've talked to. Some of my acquisitions came from follow-up calls 6 - 24 months after the first conversation.
3. DIRECT MAIL
I send letters to storage facility owners in markets I want to be in. Simple, straightforward letters. Not the bright yellow "WE BUY PROPERTIES" postcards. A professional letter that says who I am, that I own and operate storage facilities, and that I'd be interested in a conversation if they're ever considering selling.
Response rates are low - maybe 2-5%. But the leads that do come back tend to be high quality because the owner initiated the response.
4. BROKER RELATIONSHIPS
This one takes time but compounds. I build relationships with commercial brokers in my target markets. Not the big national firms - the local guys who handle everything from gas stations to storage facilities to car washes. They're the ones who get the first call when a 70-year-old owner decides to retire.
I don't wait for brokers to send me deals. I tell them exactly what I'm looking for - market size, unit count, price range - and I follow up. Consistently. When a deal comes across their desk that fits, I want to be the first call they make.
WHAT I LOOK FOR
My buy box isn't rigid on price. I've bought facilities under $500K and I've bought them for a few million. What I care about is:
- Markets with limited or no competition (I target towns under 30K population)
- Owners who self-manage (this means there's operational upside I can capture)
- Below-market rates (room to push revenue without adding a single unit)
- No software, no autopay, no tenant protection (these are systems I can implement on day one)
The pattern is the same almost every time: a facility that's been owned by the same person for 15-20 years, they manage it with a notebook and a padlock, rates haven't been raised in years, and they're ready to move on.
That's where the value is.
THE REAL BARRIER ISN'T FINDING THE DEAL
It's making the first call. It's sending the first letter. It's running the numbers on 20 deals to find the 1 that works.
Most people spend months reading about storage and never pick up the phone. The ones who actually build portfolios are the ones who start reaching out before they feel ready.
If you're sitting on the sidelines wanting to get into storage - start with Google Maps and a phone. That's it. The rest you figure out along the way.
Happy to answer questions in the comments. I'm an open book on this stuff. I even coach new investors how to acquire their first facility.