It can be challenging to own and operate a single self-storage facility, but what about several? You might think it’s exponentially more difficult, but that isn’t necessarily the case. In this interview recorded at the 2021 Inside Self-Storage World Expo, Southeast Storage owner Brooks Lumpkin discusses what it’s like to actively grow a portfolio from one to multiple sites. He shares insight on the pros and cons, plus how he tackled his greatest challenge: increasing revenue across his entire footprint. He also explains how big your business can get before you need to call in help, seeking additional investors and outsourcing some operational functions.
Lumpkin has amassed a portfolio of 12 self-storage properties over seven years. After learning real estate through a family business in Alabama, he founded his own company in Atlanta in 2012. He has experience with facility acquisition, development, expansion and management.
Read more about the 2021 ISS World Expo in this article recapping the event.