The Seller Stopped Operating. The Data Made Them Stay.
Show notes
What do you do when the seller of your first self-storage facility simply stops showing up? Phones go dark, the website dies, and occupancy craters to 40%...while you're still under contract and $25,000 deep in non-recoverable costs?
That's the crisis at the center of this episode.
Joe Downs sits down with Adam and Kirby Leiby, a sales professional and homeschooling mom with zero prior storage experience, who purchased Lemon Springs Self Storage in Sanford, North Carolina for $625,000 in August 2025.
Less than a year later, the 96-unit facility is at 70% occupancy and climbing, year-one projections are hit, and deal number two is already in their sights.
Their story is a masterclass in one of the most valuable skills in self-storage investing: telling the difference between a market that doesn't want you and an operator who simply stopped trying.
If you've ever wondered whether you have what it takes to close a distressed deal, this episode is required listening.
Listen For:
1:10 How did two career professionals with zero storage experience decide to buy their first self-storage facility?
7:33 What does secretly shopping a 10-mile radius around a storage facility actually reveal about the market?
12:26 When occupancy drops to 40% mid-contract, how do first-time storage investors decide whether to walk or close?
15:40 What is the single moment Adam and Kirby Leiby decided to push through and close the Lemon Springs deal?
22:43 What does a storage investor's five-year portfolio vision actually look like in practice and what are you doing today to get there?
CONNECT WITH GUEST: ADAM & KIRBY LIEBY
Website | Adam's LinkedIn | Kirby's LinkedIn | Adam's Instagram | Kirby's Instagram | Adam's Facebook | Kirby's Facebook | Facebook Page
CONNECT WITH US
Belrose website | Belrose email | Belrose LinkedIn
Check out the FULL episode on YouTube
https://www.youtube.com/@TheStorageMoguls
60 minutes
Storage Moguls Live. Friday, October 16 in White Marsh, Maryland. One day with self storage owners. Walk through a real facility and learn how they find, finance, and close deals. Only 15 tickets. Register at https://go.storagemoguls.ai/white-marsh-md before Thursday.
Chapters
Loading chapters …