So, You Want to Invest in Self-Storage? Here’s Your First Step

You’ve probably heard that self-storage is a growing and stable investment opportunity. It’s true—demand is increasing, and it’s a relatively low-maintenance way to generate passive income. But before diving into this booming industry, where do you even start?

Let’s keep it simple: the first step is to do your homework (not the fun answer, I know). But here’s why it matters.

Step 1: Research the Market Like a Pro

Before you start browsing properties or dreaming of passive income, it’s critical to understand the self-storage market and how it works. Think of it like prepping for a big test—you need to know the lay of the land before making any major decisions.

Know the Local Demand

Not every area is a goldmine for self-storage. Some markets are saturated, while others have untapped potential. Start by looking at how much demand exists in the area where you’re thinking of investing. Are facilities in the region full, or is there space sitting empty? Tools like Radius+ can help you understand occupancy rates, rental prices, and competition. It helps you see if there’s room for a new player (that’s you!) or if the market is too crowded.

Understand Self-Storage Operations

While self-storage seems straightforward (people pay you to store their stuff), there’s a bit more to it than that. You’ll need to understand the basics of managing a facility—like what technology you’ll need, how security should be set up, and what kind of marketing works to attract customers. Doing this research upfront will make the whole process smoother and help you avoid rookie mistakes.

Why This First Step is Crucial

Jumping into any investment without fully understanding it is risky. Self-storage is no exception. You want to know what you’re getting into so you can feel confident when you eventually decide to buy or build a facility.

So, if you’re excited about the self-storage game, start by digging into the numbers, trends, and operational know-how. It’ll set you up for success as you take the next steps toward becoming a self-storage investor!

Ilyssa is an experienced marketing professional with over 12 years of expertise in brand marketing, content marketing, and operations. Passionate about mission-driven retail brands and emerging digital trends, she excels at using storytelling to create compelling brand experiences. Although new to the self-storage industry, Ilyssa brings a fresh perspective and a proven track record of success in driving growth and engagement across various sectors. Stay tuned to keep up to date with all of Ilyssa's Insights!