In this episode of The Wealth Vibe Show, host Vinki Loomba sits down with Bill Kanatas and Ben Salzberg, two industry powerhouses in self-storage development. Bill, co-founder and CEO of Storage Developers, has partnered with major players like Public Storage and Extra Space, while Ben brings over 25 years of operational excellence and a Six Sigma Black Belt to the table. Together, they share how self-storage has become a hidden gem for long-term wealth-building, even in tough economic times.
How It Works:
- Self-Storage Resilience: Bill explains why self-storage is one of the most resilient asset classes in real estate, thriving during both good and bad economic times, thanks to its ever-present demand driven by the "4 D's" (death, divorce, downsizing, and relocation).
- Operational Efficiency: Ben emphasizes the importance of efficiency and process management in the self-storage business, leveraging his Six Sigma training to reduce waste, optimize time, and increase profitability.
- Automation and Technology: The guys dive into how technology is transforming the self-storage industry, from virtual tours to automated access, making the customer experience smoother and the operation more hands-off for owners.
- Partnerships & Joint Ventures: They also highlight the value of partnerships and joint ventures in the self-storage space, and how they work with landowners to co-develop successful storage facilities.
Episode Timestamps:
00:00 - 01:05: Introduction
01:05 - 03:00: The Resilience of Self-Storage in Any Market
03:00 - 06:00: Bill and Ben’s Backgrounds and the Six Sigma Approach
06:00 - 09:00: The Benefits of Lean Operations and Staying Efficient
09:00 - 13:00: The Role of Technology in Self-Storage
13:00 - 16:00: How Self-Storage Fares Against Multifamily and Other Asset Classes
16:00 - 20:00: Key Factors to Look for in a Self-Storage Investment
20:00 - 23:00: Market Trends and Future of Self-Storage
23:00 - 26:00: Exploring Exit Strategies for Investors in Self-Storage
26:00 - 30:00: Rapid Fire Round: Insights on Self-Storage Investing
30:00 - 35:00: Closing Thoughts on the Future of Self-Storage
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