Switching to Self Storage from Apartments: Expert Insights with Zach Quick

How does self-storage compare to multifamily investing. What are the key factors to consider when evaluating self-storage markets. How can investors identify promising self-storage opportunities in different areas. Learn expert strategies for succeeding in the self-storage industry.

Table of Contents

The Rise of Self-Storage Investing

In recent years, there has been a notable shift among real estate investors from multifamily properties to self-storage facilities. This trend gained significant momentum during the pandemic, with many investors recognizing the unique advantages of the self-storage sector. Zach Quick, an experienced investor who made this transition before it became widespread, offers valuable insights into this growing phenomenon.

Zach Quick and his wife built a small residential multifamily portfolio before having a “light bulb moment” that led them to switch entirely to self-storage. They now own about eight storage facilities, totaling nearly half a million square feet across Missouri and Arkansas. This transition occurred approximately three to four years ago, placing them ahead of the curve in recognizing the potential of self-storage investments.

Advantages of Self-Storage Over Multifamily

When comparing self-storage to multifamily investments, several key advantages emerge:

Fewer political pressures and regulations
Potentially lower maintenance and management costs
Ability to adjust rental rates more frequently
Less direct interaction with tenants

However, Quick cautions against viewing self-storage as a perfect, risk-free investment. He emphasizes that the sector has its own unique challenges and considerations that investors must carefully evaluate.

The Challenge of Market Saturation in Self-Storage

One of the primary concerns in the self-storage industry is the potential for market saturation. Unlike residential real estate, where many areas face housing shortages, self-storage can be prone to oversupply in certain markets. Quick notes that “storage is the biggest enemy of storage,” highlighting the ease with which the sector can become overbuilt.

This risk of oversaturation underscores the importance of thorough market research and analysis before investing in a self-storage facility. Investors must carefully assess both current and potential future competition within their target area.

Evaluating Self-Storage Markets: A Blend of Art and Science

Determining whether a specific market is oversupplied or undersupplied with self-storage facilities requires a combination of data analysis and intuitive understanding. Quick describes this process as “art and science,” emphasizing the need for a comprehensive approach to market evaluation.

Key Factors in Market Analysis:

Historical financials of the target property
Past and current occupancy rates
Competitor analysis within a 3-5 mile radius
Management quality of existing facilities
Pricing strategies and potential for rate increases
Future development plans in the area

By examining these factors, investors can gain a clearer picture of market dynamics and identify potential opportunities or red flags.

Identifying Saturation Levels in Different Markets

How can investors determine if a market has reached saturation? Quick offers some practical guidance:

If most facilities in an area are well-managed and consistently maintaining 80-85% occupancy, it may indicate market saturation. Conversely, if well-managed facilities are frequently turning away potential customers, there might be room for additional supply.

This assessment requires honest evaluation of competitors’ performance and management quality. Investors should look beyond surface-level occupancy rates to understand the true demand dynamics in a given market.

Urban vs. Rural Self-Storage Opportunities

A common perception in the self-storage industry is that primary and secondary markets tend to be more overbuilt compared to rural areas. While this can often be true, Quick emphasizes that the reality is more nuanced and varies significantly by location.

In some cases, fast-growing urban areas may attract overbuilding due to developers, REITs, or regional operators seeking to establish a presence in desirable markets. However, this doesn’t mean all urban markets are oversaturated. Quick points out that even within a single city, some areas may be overbuilt while others still have room for growth.

For example, in Bentonville, Arkansas – a rapidly growing area – Quick notes that certain stretches have seen new development, potentially leading to oversupply. Yet, other pockets within the same city might still support additional self-storage facilities.

The Importance of Micro-Market Analysis

Quick emphasizes that self-storage is fundamentally a “three-mile radius business.” This means that investors must focus on hyper-local market conditions rather than broad city or regional trends. Even in larger metropolitan areas that might seem saturated at first glance, opportunities can exist in specific neighborhoods or submarkets.

For instance, Quick mentions owning a facility in Kansas City, Missouri – a well-established, densely populated area. Despite the city’s size and maturity, this particular location is considered undersupplied according to national metrics within its immediate two to three-mile radius.

Strategies for Success in Self-Storage Investing

As more investors enter the self-storage market, it becomes increasingly important to develop effective strategies for success. Here are some key approaches to consider:

1. Conduct Thorough Due Diligence

Before acquiring a self-storage facility, perform extensive research on the local market, including demographic trends, economic indicators, and competitive landscape. This due diligence should go beyond surface-level occupancy rates to understand the true dynamics of supply and demand in the area.

2. Focus on Operational Efficiency

Maximizing the performance of a self-storage facility often comes down to operational excellence. This includes implementing effective marketing strategies, maintaining the property to high standards, and leveraging technology for improved management and customer service.

3. Consider Value-Add Opportunities

Look for properties with potential for improvement or expansion. This might include upgrading outdated facilities, adding new amenities, or developing unused land to increase the facility’s square footage and revenue potential.

4. Stay Informed About Local Development Plans

Keep abreast of local zoning changes, development projects, and population trends that could impact the demand for self-storage in your target areas. This forward-looking approach can help you anticipate market shifts and make informed investment decisions.

5. Diversify Across Markets

Consider building a portfolio of self-storage properties across different types of markets to balance risk and opportunity. This might include a mix of urban, suburban, and rural locations, each with its own unique demand drivers and competitive dynamics.

The Future of Self-Storage Investing

As the self-storage sector continues to evolve, investors must stay attuned to emerging trends and potential challenges. Some key factors to watch include:

Technological advancements in facility management and security
Changing consumer preferences and expectations for storage solutions
Potential regulatory changes affecting the industry
The impact of economic cycles on self-storage demand
Opportunities for consolidation and portfolio acquisitions

By staying informed and adaptable, investors can position themselves to capitalize on the ongoing opportunities in the self-storage market while mitigating potential risks.

Leveraging Experience for Competitive Advantage

Zach Quick’s journey from multifamily to self-storage investing highlights the value of experience and adaptability in real estate. His insights underscore the importance of thorough market analysis, operational excellence, and a nuanced understanding of local dynamics in achieving success in the self-storage sector.

For investors considering a similar transition or looking to enter the self-storage market, Quick’s experiences offer valuable lessons. The key takeaway is that while self-storage can offer attractive investment opportunities, it requires careful evaluation and a strategic approach to navigate successfully.

Key Lessons from Zach Quick’s Experience:

Recognize that self-storage, like any real estate sector, has its unique challenges and is not immune to market risks.
Develop a keen understanding of micro-market dynamics within a 3-5 mile radius of potential investments.
Look beyond surface-level occupancy rates to assess true market demand and competition.
Be prepared to adapt strategies based on local market conditions and emerging trends.
Continuously educate yourself about industry best practices and evolving consumer needs.

By applying these lessons and maintaining a diligent, analytical approach, investors can position themselves for success in the dynamic and growing self-storage sector.

Embracing Innovation in Self-Storage

As the self-storage industry continues to evolve, embracing innovation can provide a significant competitive advantage. Forward-thinking investors and operators are exploring various ways to enhance their facilities and services to meet changing consumer demands and improve operational efficiency.

Technological Advancements

How are technological innovations reshaping the self-storage landscape? Smart access systems, mobile apps for unit management, and advanced security features are becoming increasingly common. These technologies not only improve the customer experience but also streamline operations and reduce costs.

For example, some facilities now offer 24/7 automated self-service kiosks, allowing customers to rent units and make payments without staff assistance. This convenience can be a significant differentiator in competitive markets.

Sustainability Initiatives

Environmental considerations are gaining importance across all real estate sectors, including self-storage. Investors who prioritize sustainability may find opportunities to reduce operating costs and appeal to environmentally conscious consumers.

Some innovative approaches include:

Installing solar panels to reduce energy costs
Implementing energy-efficient lighting and climate control systems
Using eco-friendly building materials in new construction or renovations
Offering recycling services for customers disposing of items

These initiatives can not only improve the bottom line but also enhance the facility’s reputation and appeal to a growing segment of environmentally aware customers.

Diversification of Services

To stand out in competitive markets, some self-storage operators are expanding their service offerings beyond traditional storage units. This diversification can create additional revenue streams and attract a broader customer base.

Innovative service expansions might include:

Offering package acceptance and secure storage for e-commerce deliveries
Providing climate-controlled units for sensitive items like wine or artwork
Offering business services such as conference rooms or co-working spaces
Partnering with moving companies or truck rental services for added convenience

By thinking creatively about complementary services, self-storage operators can enhance their value proposition and potentially increase revenue per square foot.

Navigating Economic Uncertainties in Self-Storage

While self-storage has shown resilience during economic downturns, it’s not entirely immune to market fluctuations. How can investors prepare for potential economic challenges while capitalizing on the sector’s strengths?

Understanding Demand Drivers

Self-storage demand is influenced by various life events and economic factors. During economic uncertainties, some demand drivers may strengthen while others weaken. For example:

Downsizing due to job loss or financial strain can increase storage needs
Housing market fluctuations can drive demand as people move or renovate
Business closures or downsizing may lead to increased commercial storage needs

By understanding these dynamics, investors can better anticipate shifts in demand and adjust their strategies accordingly.

Flexible Pricing Strategies

One advantage of self-storage over other real estate sectors is the ability to adjust pricing more frequently. During economic uncertainties, a flexible pricing strategy can help maintain occupancy while maximizing revenue.

This might involve:

Offering short-term discounts to attract new customers
Implementing dynamic pricing based on occupancy levels
Creating tiered pricing structures for different unit types or amenities

The key is to balance competitive pricing with maintaining overall revenue and profitability.

Maintaining Operational Efficiency

In challenging economic times, operational efficiency becomes even more critical. Investors should focus on:

Optimizing staffing levels and leveraging technology to reduce labor costs
Implementing preventive maintenance to avoid costly repairs
Analyzing and reducing non-essential expenses
Improving energy efficiency to lower utility costs

By maintaining a lean operation, self-storage facilities can better weather economic uncertainties and remain profitable even during downturns.

Building Financial Resilience

Prudent financial management is essential for long-term success in self-storage investing. This includes:

Maintaining adequate cash reserves for unexpected expenses or revenue shortfalls
Carefully managing debt levels and refinancing when appropriate
Diversifying across multiple properties or markets to spread risk
Considering partnerships or joint ventures to access additional capital and expertise

By building financial resilience, investors can position themselves to navigate economic uncertainties and potentially capitalize on opportunities that arise during market disruptions.

As the self-storage industry continues to evolve, investors who combine market knowledge, operational excellence, and innovative thinking will be best positioned for long-term success. By staying attuned to local market dynamics, embracing technological advancements, and maintaining financial flexibility, self-storage investors can navigate challenges and capitalize on the sector’s enduring strengths.

Switching to Self Storage from Apartments with Zach Quick

Zach, thank you for joining us today.

Thanks for having me. I appreciate it. It’s great to talk with you.

And we’re going to talk about shifting from multi-family to self-storage. Certainly something we’re seeing quite a bit of for a lot of very good reasons for our listeners out there who don’t know about you and your business.

Can you tell us about what you do and your background, and then we’ll do that. Sure.

My name is Zach quick. I’ve been investing in real estate for probably eight, nine years now. I’ve been a full-time, self-storage for about three and a half four. We, my wife, and I built up a kind of a small residential multifamily portfolio.

And then had a quote-unquote light bulb moment flip the switch and we’ve since no residential and now. Currently about eight storage facilities almost half a million square feet in Missouri and Arkansas.

Awesome. That’s great. And you were really before the curve we’ve seen a lot during the pandemic of folks shifting from multifamily to self-storage.

What are your thoughts about that since you, you beat everybody else to the pond you got moving on?

I started earlier than I did frankly, just because you hear stories about, what prices were. Seven, eight years ago. And that’s much the same as multifamily too, really, but look, I think it’s a great business.

I think you have a lot of them I don’t know, less political pressures and things that that multi-family or residential may have. I, my biggest concern was so many people coming in is that I don’t know that they think that. I completely like that it can’t be wounded in any way, shape, or form that it’s like a perfect investment in all shapes and sizes.

And storage is much different in that storage is the biggest. The enemy is storage. It’s very easy to overbuild storage and become oversaturated. And it’s really hard to do that with residential frankly, it seems like we have a shortage of residential everywhere. And there are pockets of storage where we have oversupplied and then other pockets where it’s undersupplied.

So it’s just different. But yeah.

So how do you in your business go about determining whether an area is oversupplied and under-supplied?

Yeah. It’s art and science. A lot of it frankly comes down to doing your research on your closest competitors. I am not a ground-up developer.

We’ve done some expansions before on, on land that was with an existing property. But generally speaking, you’ve got historical financials, you’ve got historical occupancy on a set property that you’re looking at, but. Just as important as is looking at your competitors and future competitors within a three or five-mile radius.

And being honest about how well they’re managing how well they’re not managing maybe. And then also if you’re raising rates up to this point or are they already there how is that going to do with occupancy? So a ton of it is just figuring out truly being a. With those competitors and figuring out how well they’re doing.

And then cause if everyone’s managing and everyone’s 80, 85% full, then that market’s probably at saturation. But if everyone’s managing and they’re turning away, people left and right. Then there’s probably room for more.

Okay. Now one of the things I feel like we hear about a lot is.

The primary and secondary markets tend to be more overbuilt than say more rural areas, give or take in a general sense, is that your experience or, where are you looking and generally finding overbuild versus underbuilt?

Yeah, generally speaking, some of the quote-unquote-like sexier markets can be overbuilt a little bit more.

And some of that’s a little bit more because. There are either developers and or REITs or regional operators that kind of want to check a box for a specific city. So even like where I’m at in Bentonville which is a fast-growing area a lot of money here. So there is there’s certain stretch within Bentonville where it’s a new property.

But yet there are other pockets of Bentonville that I would say could probably support more. So it really is a three-mile radius business. And but generally speaking, I would say that that you’re probably right in that kind of the faster growing larger metros tend to be a little bit more susceptible, but On the flip side, some of those don’t have a ton of extra land to, to have those issues.

So it really depends. We have some in, I have one in Kansas City, Missouri that’s a very established population it’s dense, populated. But it’s actually by a lot of the like national metrics, it’s an under-supplied two or three-mile radius. So it really just, I hate to use that term, but it really just depends frankly.

Switching to Self Storage from Apartments

That’s fair. It’s all. It’s always case by case. I think one of the things we hear most about finding the opportunity and self-storage is, Hey, there are all these properties that are owned by mom and pops that are really retired. They’re self-managing or doing all these things. And we can bring these new technology tools, things like that to improve operations.

Has that been your experience? Is that part of your business model? What are your thoughts about that? Bringing it into the 21st.

Yeah, that’s, that’s the kind of the bread and butter of the value, add strategy, so to speak. And frankly not to be too simplistic, but a lot of it comes down to.

Simplifying and updating like the customer experience. If they can’t rent online, when they’re sitting in their living room at night then you’re missing out on sales. Frankly, and the guy down the street will probably get back. Cause there’s a certain segment of the population that if they can click and do it, that they would much rather do that than pick up the phone.

And then secondly, it was just a pricing strategy. There are a lot of owners that would rather be a hundred percent full at under-market rates. Frankly, because it’s less work. And then also oftentimes too they know all their tenants, they don’t want to rock the boat.

And to be fair too, like it may be paid off for them and what’s an extra 10% in revenue going to do to their life, they don’t care. But if you’re running it like a true business how good of a merchant are you if everyone’s coming in and willing to give you more money than an existing customer, if you have zero product to sell them.

So trying to price it optimally and then yeah, making sure that you are able to meet customers, how they want to be met, whether that’s over the phone, whether that’s online. But yes you hit on a lot of those strategies and just make sure you’re priced off. Okay.

Now one of the big questions is where are folks finding deals? These days are websites online. There are brokers, they’re folks going direct to the seller in your business. What is your strategy? I know we’re asking for the secret sauce there, but who’s going to actually go out and do it.

Sure. In the last call it three and a half years since we’ve bought probably. 12. And every single one of them has been off-market direct to the owner. And so I’ve yet to buy a list of deals. I’ve listed a deal that I’ve sold, but and I’m not here to say that I’ll never buy a list of deals, but frankly if you’re direct to the owner if you can be the only person in the room or the first call when they decide to make that a decision, it just makes everything a lot easier.

And sure there aren’t, there may be some discounts to that, but also I just think it’s an easier process often for a seller. They might prefer that they may not want their manager to know until it’s almost a done deal. They may not want everyone in town to know Hey, I saw your price.

You have listed it for X amount. Oh my gosh, I didn’t know. Those storage are so expensive. It’s good. Good for you. Kind of a deal. So generally speaking, I tried. Whether it’s direct letters, cold calls kind of storage, networking-type events. If you can get directions to the owner you should do it.

So how are you handling things like a follow-up, right? Because it’s rare that you’re going to get the phone call from the guy and he’s. Hey Zack, I want to sell my property for an extremely reasonable price right now. Thanks. Follow-up how do you handle all that?

Yeah, so I’ve got basically a plain old Excel spreadsheet that I’ve been working on for the last four years that I’m basically logging the last time I’ve had any kind of interaction with them.

Last time I’ve had any kind of mail that I’ve sent. And then, just trying to touch base two, three times a year. And oftentimes that’s enough. They might just say, Hey, I have zero interest. But also call just to say, Hey, maybe you hear about something and you’re not interested.

And I might be, maybe you can help somebody else out. Or, life changes pretty fast. You could be not interested whatsoever. And then a month later, like you’re ready to get it off your hands. So really just trying to keep track of the touchpoints and being consistent is really a, anything with sales or any, anything like that is just being considered.

What are you finding in a general sense, like in a number of follow-ups that you need to do or, any kind of standard practices that end up resulting in a closed deal? Is it, say five touchpoints are all over the map?

Yeah, generally speaking, I would say at least that my, I had one in April that we bought that I spoke to the owner.

Quarterly for about two and a half years. And then I just got a random call and said, Hey, I think we’re ready. But I’ve been lucky enough to say that w I’ve sent one letter and one phone call and that worked too. They don’t all go that way. It never happens if you don’t try either.

So I would say a minimum of five if but it’s a long game or you need to treat it as such because a lot of owners are getting a lot of mail. But a lot of that male is just a one-off random, Hey, I’m doing this and not like literally the same letter over and over two or three, two or three times a year.

Storage somewhat benefits in that you can find a large storage facility at smaller price points than “larger apartments”.

Okay. So you’ve been in a storage world for, years here. You’ve got plenty of experience under your belt, and I’m sure there have been some tough lessons you learned along the way, one way or another. We all learn from us, I don’t even want to say mistakes, missteps or, we learn things the hard way sometimes.

What comes to mind when I ask you that question? Something that you did that, oh I’ve learned that lesson the hard way.

Yeah. I think Twofold a not being confident enough in your product, to raise rates accordingly, especially when I was starting out. I think we often can discount even our own by saying, oh, we’re not quite as nice as the facility up the hill or things like that.

And also realizing. You are providing a service. It sounded weird to me at first because I’d never had a storage unit. Why would they, why would someone pay this much amount? But now that I’ve experienced it, frankly, like we’re dealing with life changes, maybe a family member died.

You’re not sure what to do with it yet. So you need to just buy some time or. You’d be surprised or I was surprised at frankly how many small businesses we help to it’s cheaper than warehouse space. There’s more flexibility. So there’s just a lot of different facets. Being confident in your product, but then also I’ve done the flip side where I was overconfident in a market.

That was, over-saturated it to say, Hey, I can, once we professionalize the website, professionalize the building a little bit more than we can do it, but frankly, that market, I should have. I should have known that it didn’t matter because there was so much product and this was a boat and RV at a very rural lake.

That frankly the clientele didn’t meet my expectations and I should have known that from the start. Yeah.

How do you mean by that? It was just like.

So I, yeah, it’s rural fishing like and I think, and because there was so much frankly, empty land, a ton of other just run-of-the-mill boat and RV storage around the lake that they have a ton of options to store elsewhere.

So there really, there was an infinite amount of supply bait, frankly. And I, the locations that I had. Quote unquote, like right next to the water. So there really wasn’t. And that’s one of the flip sides of boat and RV storage while it’s great on some levels. Frankly, on the other level, it’s not that hard to hook up your boat and move to another facility.

If you’re unhappy with the one you’re at. Whereas if you just moved to in four bedrooms, You’re not going to repack everything up and move down the road because you’re unhappy with that storage facility. So anyway, a lot of lessons were learned with the. Nice.

So one of the big questions that I think comes up when folks want to get into any new real estate investment strategy, it’s okay, if I don’t have all the money, where do I go find the money you can’t let that stop us.

But also I think to find a good, the quote-unquote, find a good deal on the money will follow is BS that doesn’t work out. You’ve got to go actually find it and make it happen. So how are you closing your deals?

Finding the money making it. Yeah. And so our very first storage deal, my wife and I, it was just my wife and me, so we 10 31 to 1200 department into our deal to frankly proving it to ourselves.

And then that way we could prove it to others. And going forward, especially after we garnered a track record we’ve done joint ventures where it may be one or two other people. And then we’ve done kind of an unquote syndication as well, where it’s a few more investors.

I frankly, it just depends on the deal. Storage somewhat benefits in that you can find a large storage facility at smaller price points than quote-unquote larger apartments. And so the check sizes are a little bit, the overall check sizes are a little bit lower. Then maybe equivalent apartments.

But yeah, so we’ll run the gamut. It just depends on the deal, frankly, by, okay.

And since this is the passive wealth strategy show, right? We want to minimize the amount of time that we spend on any of our investments. We want to streamline as much as we can. So you’ve got all of these properties.

How much time once you acquire them, are you finding that you’re spending on them? Are you hiring folks to handle all the things on-site? Cutting locks, replacing those. What are you doing in terms of nuts and bolts?

Sure. So I’m, full-time in this, so I, it’s not passive for me, but it could be more passive if I wanted it to be.

But yes, generally just hiring good people. So almost all of our sites now are large enough that they support onsite management and, or, and, or a hybrid form. I’d like to cluster my properties if I can help it. Where a manager may spend a day at this one and then a day at one 15 minutes away, or, a half a day at each or however.

Day works out. But I’ve run sites remotely where you get trustworthy boots on the ground person that, most sprays cut locks for you checks on units for you. And they can come by one or two times a week and do that for you. So yes, finding good people and then laying out grid operations.

Can make a huge difference in your stress levels and your life. Yeah, that’s good.

What are your thoughts about the future of self-storage? You’ve been in it since before the most recent wave of folks making the shift. What do you see in the future?

Funny, it’s funny. I think that especially in the last year and change.

That the actual percentage of the population that’s using self-storage is actually crept up. With work from home, being more of a thing actually with home prices increases a lot of times that’s going to drive a little bit more demand for storage because maybe you can’t afford that extra bedroom of a house, but you can’t afford it.

A 10 by 10 storage unit. E-commerce is driving a lot. Need a little bit more storage space. Maybe they don’t need a whole warehouse full of items. And it’s getting a little bit to be a little bit more the main street business. Not that it wasn’t a main street business before, but now you have multi-story climate control buildings that are sleeker nicer a little bit more friendly than maybe when it was in an industrial park back in the day.

So I don’t while I am fully in favor of Guarded optimism development. Instead of building it in a random place for you want to build it just because, the land was cheaper or anything like that. But generally speaking, I don’t see much-slowing storage down in terms of just overall usage, if that makes sense.

It all starts with demand, right? We need a customer for our product. And they’re extraneous factors that could play in the cost of money, interest rates come to mind. But otherwise, as long as demand is strong, then good news.

And twofold on that too, that a lot of people have just been relocating or moving in the last few years the last couple of years.

And so that drives demand locking lock and step with it too.

All good news for everybody out there in self-storage or who wants to get into it right now, we’re going to take a quick break for our sponsor. All right, Zach, I’ve got three questions. I ask every guest on the show.

Are you ready? Yes. Great. First one. What is the best investment you ever made other than in your education?

Marrying my wife would be that one, but that, that might be too short of an answer for you. Honestly, probably that first self-storage facility, because you can do all the research in the world, but until you actually just dive into something, you can’t know what you don’t know or you can’t guess what’s going to happen.

And did a lot of. Number crunching a lot of light Knights wanting to make sure it works but found a willing seller. And honestly, we knew going in didn’t think it would be near as good of a deal as it worked out. But just the things that you learned step by step. Yeah, that would be it.

Nice, good. We had the best investment. Now we go to the other side of that coin, the worst investment. What is the worst investment you have ever had?

Actually, in my residential days, is it’s funny. I bought a house at a great price and then 100% over rehab. And when we were a hundred percent done it’s sad to say this out loud, but we pretty much finished all of the interiors.

I met, I walked by the neighbors and they said, oh, love what you did to the house. I said, did you add And I literally stopped in my tracks and thought what was already there. And of course, I walk over there and it’s a big forehead slap moment. But no, sure enough, there was not they had heat, but no air.

And that was an expensive lesson on top of already being over budget. But. Anyways, so we survived it wasn’t we’ve since sold the property and probably the last, maybe 5,000 bucks, but just a good lesson in knowing that you better know your costs especially in residential where there’s really not quite as much demand.

It was a house, so there’s really not quite as many revenue drivers outside of frankly, what can you charge for rent? What’d you buy it for? And what could you sell it for?

So interesting. Interesting. Yeah. I learned something about budgeting and project management and making a plan and all that.

Yep. My favorite question here at the end of the show is what is the most important lesson you’ve learned in business and investing?

It sounds so simple, but I’ve read the book profit first and applied it to Each property for storage and it’s made an enormous difference in how well I budgeted for each property.

Literally setting up three or four different checking accounts for each property. One for property taxes, one for reserves, one for future cap-ex, And instead of just one account where it’s all co-mingled and you’re like, oh yeah, I think I have enough for property taxes. It, it sounds, it’s almost literally like having different piggy banks, but and I don’t follow them, I don’t follow it a hundred percent to a T, but just literally doing that and setting aside money into each count each month has made an enormous difference cashflow while.

And we’ve talked about profit first on the show in the past, and definitely seems a very powerful tool for making sure you’re profitable and managing cash flows and all the allocations, especially, big companies, big businesses, they have, finance professionals only managing their cashflow, whereas real estate investors.

We’re doing it ourselves.

Yup. Yeah. I highly recommend that book. Even if you iterate it to you. Whether it be a small business or small real estate property it was huge health. Nice.

Zach, thank you for joining us today. I think self-storage is great and I want, I’d love to see more people invest in self-storage, but also not because I invest in self-storage.

I don’t want more competition. Thanks for joining us. Anyway. If folks want to reach out, they want to get in touch with you. If they want to talk about future deals, if they’re interested in investing with you or. How can they reach out to you?

Sure. zachquick.com is probably the best way. Z A C H Q U I C K.

And then I’m also on LinkedIn or BiggerPockets, but yeah, zachquick.com.

Good. I see you posting on bigger pockets all the time. So I’m going to have to shoot you a connected fat. Thank you once again for joining us today to everybody out there. Thank you for tuning in. If you’re enjoying the show, please take a moment, leave us a rating or a review on apple podcasts that helps other people learn about the show, because that helps us rank higher in the apple podcast ecosystem.

I’m always honest with you guys that give me the warm and fuzzies because I get to see that you’re engaging with the content and you’re escaping and the wall street casino, along with us if you know anyone who could. A little bit more passive wealth in their lives. Please share the show with them and bring them into the tribe.

I hope you have a great rest of your day and we’ll talk to you on the next one. Bye-bye.

Self Storage Facility

About our Guest

Zach Quick

Prior to self-storage full-time, Zach worked in various management roles at a Fortune 50 Retailer and Fortune 500 Staffing and Recruiting Firm. Zach owns and operates self-storage across the midwest (Arkansas, Missouri, Oklahoma currently).

[00:01 – 03:31] Opening Segment

Get to know Zach Quick
Nine Years in Real Estate

[03:32 – 10:03] Switching to Self Storage from Apartments

Zach’s Advantage Before the Curve
Why storage’s biggest enemy is storage
When is an area oversupplied and undersupplied?
In what market is Zach looking?
A Three-Mile Radius Business
Zach talks about using new technology

[10:04 – 21:56] The Secret Recipe for Self-Storage Success

Where are People Finding Deals?
Zach’s Secret: A Plain Old Excel Spreadsheet
This is How to Close a Deal
Twofold: Zach’s Big Real Estate Investing Lesson
How Zach closes deals, finds money, and makes it happen
The Time Zach Spends on His Investments
The Future of Self-Storage

[21:57 – 30:19] Closing Segment

Quick break for our sponsors
- Groundfloor offers short-term, high-yield real estate debt investments to the general public. Check www.passivewealthstrategy.com/groundfloor/ to get started.
What is the best investment you’ve ever made other than your education?
- Marrying his wife and his first self-storage facility
Zach’s worst investment
- Residential

What is the most important lesson that you’ve learned in business and investing?
- “It sounds so simple, but I’ve read the book Profit First and applied it to each property for storage.”
Connect with my guest. See the links below.

Resources Mentioned:

Profit First

Tweetable Quotes:

“Storage, his biggest enemy is storage. ” – Zach Quick

“It never happens if you don’t try either.” – Zach Quick

“Finding good people and then kind of laying out grid operations for them can make a huge difference in your stress levels and in your life. ” – Zach Quick

————

Connect with Zach Quick through LinkedIn. Visit their website https://www.zachquick.com/about.

Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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Zachary Quick, Obituary – Arlington, VA

Zachary Callahan Quick
Zachary Callahan Quick, better known as “Zac”, “Daddy”, “Zacky”, “Sonny Pup”, “Gibby”, “Quick”, and even sometimes “Zachariah” will ever be a hero among men. For those he loved, Zac was a fierce protector and loyal friend. His larger than life presence and reputation escorted him through life like a venerable king being ushered by his court. His enigmatic, piercing, blue eyes shone brightly like a beacon amidst the fog of even the darkest of weathers. His sweet, sincere smile and infectious laughter melted hearts, tore down the proverbial walls of our souls, and brought peace and comfort to the innumerable he gave it to. Zac, whether known as son, father, brother, husband, uncle, nephew, or cousin, was always friend. Much like Atlas, Zac hoisted the world and all its weight on his shoulders so that those he loved would not suffer the burden themselves. He was the shield that kept us safe from the horrors of the world he lived and battled in. His heart and capacity to love was undefined, yet not untouched, by the wolves he bade leave from our doors.
Zac was 39 years old, living in Columbia, South Carolina, when he lost his life on November 7, 2015 to the unseen wounds of the real world wars he fought. He had spent the day with loved ones laughing, celebrating, playing, and expressing his love. He was walking to his car with his wife after leaving a local Columbia restaurant that evening.
Zac was born on September 24, 1976 in Alexandria, Virginia, to Marsha Mankin-Quick and Maury “Patrick” Marshall Quick. He lived in Alexandria, Newington Forest, during his youth with his parents and younger sister Amanda Kay Quick. Many days of Zac’s childhood were spent exploring the woods and creeks surrounding his home alongside his father; watching, learning, and hoping to one day truly earn the title as humbly and wholly as the man he himself so admired and loved. Zac’s soul was filled with the ocean air and salty waves of the sea, and he spent much time with his maternal grandfather, Luke, on the beaches near Bishopville and Ocean City, Maryland, learning to sail, fish, and crab.
Zac was an incredible swimmer whose records still remain unbroken in the halls of the swim clubs he was a member of as a child and young man. He was an indomitable competitor on the prestigious Curl-Burke swim team, and his speed and strength earned him positions on junior Olympic swim teams. Zac had recently joined a master’s swim team in Columbia, South Carolina, and planned to compete, and win, the national competition this coming year. He attributed his success and dedication to the sport solely to his mother, who selflessly sacrificed her every early morning and evening to ensure he realized the potential she saw in him. Watching him swim was almost magic. Every muscle conditioned to, seemingly effortlessly, pull his strong body through the water. His arms pierced the tension with expert control and propelled him at such phenomenal speed. The water may have been his true home – to see him in it was to see happiness.
In addition to his love for the woods by his home and the swimming waters he was inherently drawn to, Zac was an accomplished carpenter and overall handyman. He had helped build many houses, office buildings, and apartment buildings throughout the Northern Virginia area as a young man. He built decks, performed high end refinishing projects, and even dabbled in fire prevention systems. One of his first jobs was assisting his uncle Michael, a master plumber, who offered Zac a great deal of knowledge, experience, and wisdom that he often referred to and cherished. There was not a thing Zac could not design and build. His strong and deliberate hands found unending pleasure in the turning of a saw, swinging of a hammer, and final clap to release the pungently sweet sawdust from them. Building houses, however, was no match for the pure joy and accomplishment that assembling desks, beds, and doll furniture for his daughters brought to him.
On February 8, 1999, with the birth of his eldest daughter Alison Michelle Quick, Zac became the most cherished and precious of his many roles: a father. Soon after, two more daughters were blessed to him, Hannah Callahan Quick on August 2, 2005, and Ashleigh Kaelynn Quick on October 4, 2006. Zac’s sun rose and set in the beauty and light in each of his daughter’s eyes. His life’s breath was so that they may live safely in comfort, love, and peace. An avid cuddler, confidant, and fellow child at heart, Zac fostered a sense of play and taught his girls that life was always better with a smile. You could fill the ocean, the sky, the universe, and heaven with the love Zac has for his children.
Zac enlisted in the Army in April of 2001 as an infantry man, one of his proudest job descriptions to this day. He was assigned to the 1st of the 504th Infantry Battalion at Fort Bragg, North Carolina. Zac’s first two military deployments were Operation Enduring Freedom I and Operation Iraqi Freedom I, during which his unit paved the way into Fallujah. Zac returned to spend the next nearly five years as a recruiter in New York City, where he earned the esteemed Gold Recruiter’s Badge. His next Army chapter was as a Psychological Operations, or PSYOP, Sergeant beginning in May of 2008, again at Fort Bragg, North Carolina. His next four deployments were to Iraq in 2010, Afghanistan in 2012, Afghanistan in 2013, and Jordan in 2014. Zac spent almost a quarter of his military career overseas. As a PSYOP soldier, Zac deployed in conjunction with Special Operations Units from the Navy and Marines, more often than not to remote and hostile areas. Throughout Zac’s military career he was awarded numerous other accolades including but not limited to a Parachutist’s Badge, a Combat Infantry Badge, a Thai Army Parachutist’s Medal, two Bronze Stars, two Army Commendation Medals, four Army Achievement Medals, a Valorous Unit Award, an Army Superior Unit Award, and four Good Conduct Medals. He was a true and fearless warrior: strong, quick and clear minded, capable of facing the most devastating horrors and dangers with courage, resolve, and a tenacity only embodied in the very elite few who choose to serve.
Towards the latter portion of 2009, just prior to Zac’s third deployment, he met his wife, Brandi Lynn Quick, while serving together in the PSYOP community at Fort Bragg. Together they deployed to Iraq in 2010. Soulmate was the most honest word used to describe the true connection they had between them. Cut from the same cloth, they were kindred spirits who sought laughter in life, loved each other with immeasurable passion, and held onto each other with unyielding commitment. The best and truest of friends, they were married at a Hooter’s restaurant by a close friend on August 1, 2014, then immediately got tattoos together to celebrate.
Zac was also father to Carmelita Jane Adeline Roper, his step-daughter. The relationship they shared was tongue-in cheek, sweet, and playful. Their laughter and constant antics echoed a deep and loving bond that was a testament to the understanding and gratitude they felt for one another. Carmelita was born on August 14, 2007 and shared the majority of her childhood with Zac as a father, who loved her always as if she were his own.
It is without words that we try to express the loss of such a strong, brave, caring, loving, and jovial American, friend, brother, father, son, and husband.
LO, There do I see my Father.
LO, There do I see my Mother, my Sisters, and my Brothers.
LO, There do I see the line of my people, back to the beginning!
LO, They do call to me. They bid me take my place among them, in the halls of VALHALLA!
Where the Brave may live FOREVER!
Zachary Callahan Quick is survived by his wife Brandi Quick, his parents Marsha Mankin-Quick and Maury “Patrick” Quick, his siblings Amanda Quick and Wayne Herriott, his sister-in-law Rachel Herriott, his children Alison Quick, Hannah Quick, Ashleigh Quick, and Carmelita Roper, his aunts and uncles Marilyn and Robert Austen, Rod Bell, Michael and Deloris Quick, Nancy and Michael Torbert, Barbara and Randy Sheaff, Kathy and Dennis Martin, and Michael and Ileana Mankin, numerous cousins, nieces, nephews, and countless brothers and sister in arms.
Services for Zac will be held at Murphy’s Funeral Home in Arlington, Virginia, on Thursday, November 19, 2015, at 2 pm. Final interment for Zac will follow at Arlington National Ceremony with services to be announced. In lieu of flowers, the family wishes for donations to be made to the Zachary Callahan Quick Foundation for Suicide Prevention and PTSD Awareness, with details to follow the services.

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“Give meaning to pain” — Realnoe Vremya

Society

00:00, 05/21/2023

Plot: Real Time Bookshelf

Matthew Quick’s novel We Are the Light and seven other books about shooting

“Shooting” is a word that came to us from the English language. It has two meanings. It is used when talking about a photo frame, a moment successfully captured and captured by a camera. But the word “shooting” has a different meaning. This is shooting. The facts of school shootings were recorded back in the Soviet Union, but they were not common. The first high-profile case of “schoolshooting” in modern Russia occurred in 2014 in Moscow. Unfortunately, this was the first, but not the last tragedy. Every time the public, politicians and officials talk a lot about tightening gun laws, installing cameras in schools, thorough medical screening of would-be firearm owners. But very rarely the question of what prompted people to commit such a terrible crime is raised. Realnoe Vremya has collected seven books, the authors of which tried to comprehend such tragedies and understand their causes. And the American writer Matthew Quick, in his fictional novel We Are the Light, offered a recipe for healing traumatic experience through art and the power of unification.

The Light Is Us is set in Majestic, Pennsylvania. The reader sees the story through the eyes of an anxious man at the epicenter of the tragedy – Lucas Goodheim. After a movie theater massacre, the city must either unite for healing or mourn forever. At the beginning of the story, there is a feeling that the writer’s view of people in their most vulnerable state can easily undermine the hope of healing, but in no way strengthen it. Quick is not afraid to deal with difficult emotions and feelings, which are beautifully expressed in the text. Due to this, as well as thanks to well-developed characters and an honest demonstration of human vulnerability, the writer holds the reader’s attention until the last page.

Lucas Goodheim is a former school worker for troubled youths. During the tragedy, he was in the city cinema with his wife, who died there. Seventeen people did not return home that evening. For reasons unknown, a young man named Jacob Hansen started the shooting. Lucas Goodgame, like other relatives of the victims, is trying to cope with his loss. He is supported by the best friend of the deceased wife Jill, the headmaster Isaiah, his wife Bess, and also Darcy. This is the murdered wife who turned into an angel and accompanied Lucas on his journey to healing. Yes, a person who sees angels and sincerely believes in them cannot be considered a reliable storyteller. But we don’t have another.

One day, an orange tent appears in Lucas’ backyard with a man inside. It was Eli, Jacob’s younger brother. Eli is an outcast in the city. The inhabitants directed at him all the anger that the “shooter” cannot express, since he also died that ill-fated evening at the Majestic cinema. The only one who didn’t turn his back on the teenager was Lucas, because his angel wife whispered:

The way forward is through this boy.

Photo: Maxim Platonov / realnoevremya.ru

The structure of the novel deserves special attention. Quick did not follow a linear chronology, as is often the case in crime stories. Instead, he narrates in the genre of an epistolary novel. Lucas writes letters to his Jungian psychoanalyst Carl Johnson, who also lost his wife in that tragedy. The people of Majestic see Lucas as a hero who saved lives, while he feels like a “monster” with a broken heart. Through these unanswered letters to Carl, the man is trying to cope with deep sadness, depression, hallucinations and paranoia.

These letters perfectly convey the labyrinth of human emotions and evoke old traumas, and they gradually reveal the nature of Lucas’s neuroses and the tragedy of the city. Quick makes the reader take the story apart and tie it with thin threads, motivating them to reflect on what happened. The author seeks to show that even in the darkest moments of life, people are capable of love and human connection and that, no matter how strong our character is, we will fail. We just don’t need to let failures color our lives. This idea Quick puts into the letters of Lucas Goodgame, which quickly turn from mere notes into an intimate image of a man looking for love and help.

Through the twisting and intertwining paths of the psyche, Quick shows the human imperfection that can overcome tragedy. The writer’s choice of a mass shooting in his favorite small-town movie theater was an appropriate—albeit incredibly difficult—subject to explore this side of human nature. With the increase in the number of cases of massacres, the question of the healing process after such events is extremely relevant.

Photo: Maxim Platonov / realnoevremya.ru

In the eyes of the writer, the therapeutic nature of art becomes a powerful way to cope with tragedy. Such stories play an important role in healing not only the wounds of fictional characters, but real wounds in communities around the world. The characters themselves mourn the tragedy in different ways, but their catharsis is an art. They create a movie together to reclaim the movie theater space stolen by a broken man.

— How can we rise above our trauma if we are unable to face it even within the limits of fiction? I said in support of artistic freedom and the healing power of art. Yes, medicine can be bitter. But it heals!

The characters in The Light Are Us struggle to find a balance between hope and despair. Lucas himself, a deeply broken man, is in many ways the perfect protagonist of a story centered on the idea of human inferiority. He himself saves many lives on that tragic night, but still loses his wife and even forgets to take care of himself. All characters, whether survivors or dead, have names, stories, and forever changed lives that the reader only glimpses of in the 18 letters that make up this novel. In these incomplete views of the complexities of human existence during a period of tragedy, Quick shows a glimmer of hope that is always present, even if it is microscopic. But the most incredible thing that the author managed to reflect is the conflict between the external projection of hope and the internal feeling of hopelessness. This delicate balance runs like a red thread throughout the novel.

We Are The Light is an easy book in terms of writing style, but incredibly difficult in terms of subject matter. Matthew Quick constantly pushes the reader to think. The writer’s message is simple and hidden in the middle of the book: when faced with difficulties, it is important to “give meaning to pain.”

Publisher: Livebook
Age limit: 16+

Jodi Picoult. “Nineteen Minutes”, “ABC” (18+)