How did John raise capital to scale his self-storage business?
Short answer: John's account puts investor relationships ahead of the first property purchase. People had already told him they would invest, so he had names to revisit when he was ready to buy.
At a Family Office Club event, Richard C. Wilson asks John about raising capital and growing his self-storage business.
John on early investor commitments
John says he wrote down the names of people who told him they'd invest if he bought a property. He had 11 names and expected to raise $400,000 to $500,000.
John on his first deal
John says the first deal required a $1.5 million raise. He raised $900,000, while his partner raised $600,000.
John on teaching storage operations
John says he taught revenue management and how to hire store managers on stage. He says that built credibility before he knew he could raise money.
John on showing up and giving
John says to get in the right rooms, give resources freely without expecting anything, then make an ask when the time comes. He says he accepted many invitations and later began asking qualifying questions.
"I think that's truly what built the momentum is being in the right rooms."
From Richard's exclusive Billionaires.com interviews
Lessons from Richard C. Wilson's one-on-one interviews, as published on each interview page.
- Michael Lee-Chin: Learn from the best role model. Find the best role model in the world and ask how they did it. Then follow their recipe exactly without changing it.
- Serg Bell: Success comes from many decisions. He does not see business as one winning bet. He sees it as a long game, like poker or bridge, built on many smart choices over time.
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Frequently asked questions
How did John raise capital to scale his self-storage business?
John's account puts investor relationships ahead of the first property purchase. People had already told him they would invest, so he had names to revisit when he was ready to buy.
What did John do before self-storage?
John says he spent 17 years in retail, then worked as a regional vice president for a self-storage REIT and as a COO for a regional operator.
How did John organize property due diligence?
John says he brought up to 10 team members and six vendors, including roofing, HVAC, and door specialists, to inspect a property in about three hours.
Sources
Quotes are copied from the video captions and checked against the transcript. Timestamps link to the moment in the video. General information only, not legal, tax or investment advice.