Sonoran
8.9K posts
A tale as old as time…
Every contractor walks onto the job, looks around, and says, “What idiot did this?”
Meanwhile, the next contractor will say the same thing about him
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My story:
> born in southern Indiana
> lawn care biz at 12
> $40k in the bank when i leave for college in 2008
> lost $15k in the stock market in 2008-9
> track and field all american with 4 D1 school records
> start Storage Squad in 2011 junior year
> 12 locations, 25 colleges, $2m + in rev by 2015
> build first self storage facility in 2016
> get married in 2016
> first kid a year later, 2 more after that
> move from Boston to Athens GA in 2018
> buy second storage facility in 2018
> get on twitter in 2019
> hire first international employee in 2019
> sell storage squad for 1.7 mil in 2021
> buy 68 more properties from 2019-2026
> start R.E. Cost Seg in 2022
> buy Somewhere dot com for $52 million in 2024
> hire first international executive in 2024
> all three companies grow fast, I learn a ton
> up to 400+ employees, 390 of them international
> portfolio passes $5 million in monthly revenue
> write a book in 2025, sell 15k copies
Thats me!
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You’ve got 50k for your child.
Do you put it in a 529?
Or do something else?
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@sonoran4498 Not enough diversification over next 20 years
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@Storage_Venture Book mark this. You will wish you did. Respectfully
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Ok guys, is this too muscular, just right, or keep pushing???
Sorry in advance for my traps 🤣
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Sonoran retweetledi
One of the biggest mistakes new self-storage owners make:
They obsess over occupancy.
We obsess over vacancy by unit type.
Our operating playbook looks like this:
→ 92%+ occupied: Raise rates. Remove discounts.
→ 85–92% occupied: Hold rates. Test small increases.
→ Under 85% occupied: Get aggressive with marketing and promotions.
→ Waitlist: Increase rates immediately.
Every unit size is managed independently.
A facility that's 95% occupied overall can still have a problem if all the 10x20s are empty.
Likewise, a facility at 80% occupancy might be leaving money on the table if every 10x10 has a waitlist.
Occupancy doesn't tell you what to do.
Unit-level demand does.
That's how we make pricing decisions across our portfolio.
Bookmark this as a simple pricing framework for self-storage.
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Working on a legislative presentation next week.. Claude is remarkable. New Mexico needs work. We’re on it!
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Social media doesn’t disappoint.
Woke up to thousands of newly-minted structural engineers who have never set foot on a job site.
Seems like a great opportunity to rage bait with facts but I have a packed schedule today.
I’ll catch you guys on the next construction item you’ve never seen before that you don’t understand and blow out of proportion.
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@McFranchisee I have owned two major brands. What is more alarming is why banks loan with the high failure rate. Best thing a. Person can do is hire a consultant to discuss EVERY FACET OF THE DEAL CANDIDLY
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Sonoran retweetledi
Franchising can be an ugly business. I took a call from a franchisee of a regional brand.
Business failed
On the hook for a 7 digit loan
Used home as collateral
Use other assets as collateral
Can’t get out of their long-term lease
Biz is closed & is still on the hook for note & rent payments. It’s sickening.
Be careful out there…
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Sonoran retweetledi
Elon musk is a big believer in inversion thinking. Not just elon but Einstein, munger and marcus aurelius too.
Here's what it is and how to use it.
Must read 🪡
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@abrazomack Bishop sit on NM economic council. Politics aside SPOT ON🔥. Get this to someone who will listen 🔥💯🔥👍🥃
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Alright hear me out… the state of NM is loaded, no joke. We have the largest sovereign wealth fund (reinvested surpluses and oil & gas lease revenues) in the nation behind Alaska… though we’re about to pass them for #1. It’s nearly $75B and may surpass $100B by 2030.. and yet we labor along aimlessly.
The rate of return on these investments has ranged from 5.0-8.5% or $3.5-6.4B per year. In contrast the states personal income tax brings in an estimated $2.2B per year and just $2.5B if we lump in corporate taxes (a pitifully low number). We could absolutely leverage the taxes and savings of years past to eliminate income and corporate taxes with money to spare for reinvestment purposes every single year. This would transform our state and put it atop the national stage as a field of opportunity and fertility rather than futility and challenge.
Just a Tuesday musing…call me crazy
Rio Grande Foundation@RioGrandeFndn
New Mexico's permanent funds will soon be worth $100 billion. The next Gov. of New Mexico needs to come up with a plan to use some of that money to diversify New Mexico's economy and improve living standards for its impoverished and population: errorsofenchantment.com/new-mexico-nee…
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@SteveLovesAmmo Simple really…Back to the 80’s with my Dad. USA.
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Happy Birthday America and my Husband Matt! 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🩷
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@chefsevenn That’s like saying what do you do with leftover wine. Never happened!
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