Why Self Storage is a Recession-Resistant Industry with Joe Downs
Jonathan Greene sits down with self-storage investor and operator Joe Downs, CEO of Bellrose Storage Group, which sources, acquires, and manages self-storage facilities across the East and Southeast. With a background in commercial real estate, capital raising, and distressed second mortgages, Joe explains how he pivoted into self-storage after discovering just how mom-and-pop dominated and under-optimized the space really was.
Jonathan Greene sits down with self-storage investor and operator Joe Downs, CEO of Bellrose Storage Group, which sources, acquires, and manages self-storage facilities across the East and Southeast. With a background in commercial real estate, capital raising, and distressed second mortgages, Joe explains how he pivoted into self-storage after discovering just how mom-and-pop dominated and under-optimized the space really was.
Their conversation explores why self-storage is still far from "too late," how technology and remote management have transformed operations, and why small, overlooked facilities under 30,000 square feet can be a goldmine for investors willing to modernize them. Joe also breaks down creative plays like boat and RV storage, industrial outdoor storage, and converting large vacant retail boxes into multi-revenue storage campuses.
Listeners will come away with a grounded understanding of why self-storage is such a powerful niche, what to look for in a mom-and-pop facility, and how to avoid overpaying by underwriting expenses correctly. Joe and Jonathan also discuss the importance of relationships and "caretaker" mentality with long-time owners, the role of SBA loans, and how to keep shiny object syndrome in check while still recognizing adjacent opportunities.
In this episode, you will hear:
- How Joe went from distressed debt and 1031 capital raising to building a self-storage platform
- Why self-storage is still largely mom-and-pop owned and what that means for opportunity
- How technology, remote management, and autopay have transformed facility operations
- What to look for in a first small storage acquisition and how to approach owners as a "caretaker"
- The importance of underwriting real expenses (marketing, tech, management) so you don't overpay
- Creative self-storage derivatives, including boat and RV storage, IOS, and big-box retail conversions
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