$325K Below Ask on Self Storage Deal #1

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Your first self-storage deal doesn’t have to be perfect… it just has to get done.

In this episode, Joe Downs sits down with Dr. Jeff Richardson, a full-time veterinarian who closed his very first self-storage acquisition while still working 30–40 hours a week in his practice.

Jeff walks through his journey from feeling intimidated by his first deal to becoming informed enough to negotiate with confidence, assemble the right team, and ultimately close Canton Self Storage at $1.875M.

$325K below list price.

From underwriting paralysis and hesitant LOIs to due diligence surprises involving termites and a hidden residential tenant, Jeff shares the real lessons that no textbook can teach.

WHAT TO LISTEN FOR

2:19 How did a full-time veterinarian break into self storage?
9:16 Why did self storage win over every other asset class?
21:19 How do you know when a deal is overpriced—and when to offer?
24:54 How did due diligence surprises lead to a lower price?

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GUEST DR. JEFF RICHARDSON

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White Label Storage helps self-storage owners manage their facilities like a performance business, not a guessing game. Using facility-level data and custom technology tools, the team drives smarter pricing, marketing, and operational decisions with no gut-based revenue management.

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