Dan Hagberg

We are renting storage units at record pace. 386 units rented in the first 8 days of May. 48.25 units per day. Same period last year: 206 rentals for 25.75 per day.

In the real estate business you can always count on 3-5 year stretches where not much happens. No refis. No buying sprees. No sales. Just put your head down and operate your properties well and wait for the next cycle.

You can hire a financial analyst in Egypt. They'll make $4.09 per hour all-in. $8,500 per year. They'll have a masters degree in finance. And they'll do things in Excel that you never thought were possible. Worldwide talent never ceases to blow my mind.

Zac Prince is crushing it at RE Cost Seg. The depreciation calculator that we released yesterday will end up being a massive success and is already driving a ton of traffic to our site. Despite lower transaction volume, we did 3x as many studies this June vs last. PUMPED!

PSA: Property insurance is crushing a lot of real estate owners. We got our renewal back a few months ago and saw our premiums go up from $290k to $360k annually across our self storage portfolio. So we got serious about finding a new broker who would work the market harder. We went with Titan Risk and that led to finding a new carrier who gave us better coverage for $280k annually. A $80k annual savings. I recommend checking out Titan Risk next time you have a renewal: titanrisk.com (in addition to being a customer, I'm also an investor in the business).

We currently own 10 facilities and $12MM worth of self storage. We have 12 more worth $22MM under contract to close in the next 3 months and we're sending 5+ offers a week. This is going to be a big year.