S2E20: The Problem with This Deal That Cash Flows Day One

S2E24: How to Identify Storage Deals That Don't Fit Your Buy Box (When to Pass Up a Deal)

In this episode of Storage Wins, Alex Pardo works with Dan Wentzel on a unique self-storage opportunity that doesn't fit Dan's buy box—but still presents real value. Instead of forcing the deal to work, the conversation shifts toward a smarter strategy: wholesaling it to someone whose buy box it does fit. What makes this episode powerful is the shift in perspective. Dan initially begins to position the deal based on why it doesn't work for him—pointing out the operational complexity of having two homes and a warehouse on site. But Alex quickly reframes that thinking: just because something is a negative to you doesn't mean it's a negative to someone else. They unpack one of the most important lessons for any investor—especially those wholesaling deals—how you communicate value matters. Being transparent about the "warts" of a deal is important, but overemphasizing them or unintentionally downplaying the upside can kill momentum and interest. The conversation also dives into evaluating deals based on current income vs potential income, how to think about pro forma without overpaying for it, and why your offer should always be grounded in what the asset produces today—not what it might produce in the future. This episode is a masterclass in perspective, positioning, and understanding that your job isn't just to find deals—it's to see who they're actually for. You'll Learn How To: * Identify when a deal doesn't fit your buy box—and what to do instead * Position a deal effectively when wholesaling to other investors * Highlight upside without overselling or misleading * Avoid "selling against yourself" when presenting opportunities * Evaluate deals based on current income vs potential future income * Use perspective to match deals with the right buyers ⸻ What You'll Learn in This Episode: [1:25] Dan's update: momentum, partnerships, and deals in progress [3:15] How joint venturing with other investors expands opportunity [6:00] Why partnerships should be structured deal-by-deal—not long-term commitments [9:19] The importance of having difficult conversations upfront in partnerships [12:05] Building relationships with brokers and why it takes time [14:22] Why relationship capital is more valuable than financial capital [18:32] Overview of the Arkansas deal and seller motivation [20:15] Why crafting an offer should be based on current income—not potential [22:31] Why this deal doesn't fit Dan's buy box [23:10] The shift to wholesaling the opportunity instead [23:45] The mistake: unintentionally "selling against" the deal [24:58] Why negatives for you can be positives for someone else [26:10] Additional income potential from homes and warehouse [28:05] Why you shouldn't pay for pro forma income [30:20] Using simple deal filters to evaluate opportunities quickly [33:40] Why seller expectations don't determine deal value [36:15] The power of creative financing and structuring offers [38:10] Adjusting your offer based on real numbers—not assumptions [40:45] Setting up the next step: refining the offer and negotiation strategy Who This Episode Is For: * Investors trying to define or refine their buy box * Wholesalers looking to position deals more effectively * Listeners who struggle with evaluating deals outside their ideal criteria * Anyone learning how to communicate deal value to other investors * Entrepreneurs who need to think more strategically about opportunity Why You Should Listen: Not every deal is for you—but every deal is for someone. This episode shows how one shift in perspective can turn a "no" into an opportunity. By understanding your buy box, communicating value correctly, and focusing on who the deal is actually for, you can unlock more opportunities without forcing bad deals to work. If you've ever passed on a deal or struggled to position one to others, this conversation will help you see opportunities differently—and act on them more effectively. Follow Alex Pardo here: * Alex Pardo Website: https://alexpardo.com/ [https://alexpardo.com/] * Alex Pardo Facebook: https://www.facebook.com/alexpardo15 [https://www.facebook.com/alexpardo15] * Alex Pardo Instagram: https://www.instagram.com/alexpardo25 [https://www.instagram.com/alexpardo25] * Alex Pardo YouTube: https://www.youtube.com/@AlexPardo [https://www.youtube.com/@AlexPardo] * Storage Wins Website: https://storagewins.com/ ⸻ Have conversations with at least three storage owners, brokers, private lenders, or equity partners inside the Storage Wins Facebook Group. Join for free here: https://www.facebook.com/groups/322064908446514/ [https://www.facebook.com/groups/322064908446514/]

S2E23: Why "Not a Home Run" Might Be Exactly What You Need

In this episode of Storage Wins, Alex Pardo and Dan Wentzel break down what happens when consistent action finally compounds. After months of hesitation, Dan hires a virtual assistant — and within two weeks, four legitimate storage opportunities land in his pipeline. Alex and Dan unpack why hiring a VA took eight months, what mindset blocks were holding Dan back, and how leveraging the Storage Wins community made the transition easier. From there, they dive deep into one specific 36,000 square foot facility, walking through back-of-the-napkin underwriting, cap rate analysis, seller motivation, and how to think about value-add potential the right way. This episode isn't just about hiring help. It's about understanding leverage — leverage of time, leverage of community, leverage of terms, and leverage of upside inside the deal itself. You'll Learn How To: * Use a virtual assistant to dramatically increase deal flow * Overcome hesitation around hiring and delegation * Underwrite a storage deal using simple back-of-the-napkin math * Analyze revenue, expenses, and NOI quickly on a seller call * Identify upside through rate gaps and unsophisticated operations * Use seller financing terms to increase purchasing power * Control deal structure by focusing on terms, not just price * Incentivize your VA to create long-term leverage ⸻ What You'll Learn in This Episode: [0:00] Why cash flow in storage "depends" [1:08] The Season 2 mission: closing before Thanksgiving 2025 [3:02] Hiring a VA after eight months of hesitation [6:42] The fear of training and financial commitment [7:30] Why $70 per week created massive leverage [9:01] Leveraging community to solve hiring challenges [12:42] Four new facilities added to the pipeline in two weeks [13:40] Why mom-and-pop operators create opportunity [15:36] Reducing expenses vs. increasing revenue [18:40] Explaining debt service coverage ratio to sellers [21:38] Breaking down a 36,000 sq ft deal opportunity [34:58] Back-of-the-napkin NOI calculation using a 35% expense ratio [35:54] Applying an 8 cap to determine baseline valuation [36:48] Spotting 50% rate gaps vs. competitors [39:28] Matching a $2M offer with better positioning [41:52] "Your price, my terms" explained [45:08] Why incentivizing your VA accelerates growth Who This Episode Is For: * Investors stuck trying to do everything themselves * Listeners who want more deal flow but feel time-constrained * Anyone unsure how to quickly analyze a storage opportunity * Operators learning how to structure seller-financed deals * Investors ready to move from slow progress to momentum Why You Should Listen: Momentum changes everything. Dan didn't suddenly get lucky — he created leverage. By hiring a VA and leaning into community support, he multiplied his outreach and surfaced four serious opportunities in two weeks. This episode shows you exactly how to think through a real deal: how to estimate NOI, apply cap rates, spot value-add potential, and structure terms that increase purchasing power. If you've ever wondered how experienced investors quickly evaluate deals while staying disciplined on risk, this is a real-time masterclass. And perhaps most importantly — it proves that sometimes the biggest breakthrough isn't a signed contract. It's the decision to stop doing everything yourself. Follow Alex Pardo here: * Alex Pardo Website: https://alexpardo.com/ [https://alexpardo.com/] * Alex Pardo Facebook: https://www.facebook.com/alexpardo15 [https://www.facebook.com/alexpardo15] * Alex Pardo Instagram: https://www.instagram.com/alexpardo25 [https://www.instagram.com/alexpardo25] * Alex Pardo YouTube: https://www.youtube.com/@AlexPardo [https://www.youtube.com/@AlexPardo] * Storage Wins Website: https://storagewins.com/ [https://storagewins.com/] Have conversations with at least three storage owners, brokers, private lenders, or equity partners inside the Storage Wins Facebook Group. Join for free here: https://www.facebook.com/groups/322064908446514/ [https://www.facebook.com/groups/322064908446514/]

S2E22: When to Walk Away From a Storage Deal That's Burning Time & Money

In this episode of Storage Wins, Alex Pardo works with Dan Wentzel through one of the most real and raw moments of the journey so far. After months of working on a small wholesale deal, Dan finds himself stuck, frustrated, and mentally drained—unsure whether the deal is even worth pursuing anymore. What makes this episode powerful isn't just the deal itself—it's the internal battle that comes with it. The uncertainty. The sunk cost. The time, energy, and money already invested. And the pressure to "make it work" simply because you've come this far. Alex steps in to simplify everything. Instead of overanalyzing or trying to fix the situation, the focus shifts to one thing: making a decision. Move forward with clarity—or cut bait and redirect your energy toward better opportunities. The conversation also highlights a critical lesson for every investor: not every deal is worth saving. Sometimes the biggest win is protecting your time, your confidence, and your ability to move on. This episode is a turning point—where indecision gets replaced with action, and frustration gets replaced with clarity. You'll Learn How To: * Recognize when a deal is no longer worth your time and energy * Avoid the sunk cost trap when evaluating opportunities * Take back control of deals instead of waiting passively * Have direct conversations with sellers to force clarity * Handle uncomfortable conversations with attorneys and partners * Make faster decisions that protect your momentum and confidence What You'll Learn in This Episode: [0:52] The reality of frustration and feeling stuck in a deal [2:15] Why documenting the hard moments matters just as much as wins [4:01] Status update: contract sent, waiting on seller response [6:11] Why waiting without clarity creates more anxiety [8:36] The real issue: lack of control and passive communication [10:05] Avoiding uncomfortable conversations with the attorney [12:08] Why this deal has dragged on for months [14:28] The sunk cost trap and how it clouds decision-making [17:09] Taking ownership instead of blaming external factors [20:07] Why small deals shouldn't consume massive time and energy [22:23] The "fork in the road" moment—move forward or walk away [24:59] How opportunity cost can be bigger than the deal itself [26:13] The importance of decisive action vs overthinking [29:10] Why chasing deals puts you in a weak position [30:26] The next step: call the seller and force clarity [31:52] Setting up the next move and regaining control Who This Episode Is For: * Investors stuck in deals that are dragging on too long * Listeners struggling with indecision and overthinking * Anyone dealing with frustration, delays, or unclear next steps * Entrepreneurs caught in the sunk cost trap * People who need to make a hard decision and move forward Why You Should Listen: Every investor eventually faces a deal that drags on longer than it should. The difference is whether you stay stuck—or step up and take control. This episode shows how to recognize when a deal is no longer serving you, how to cut through the noise, and how to make decisions that protect your time, energy, and momentum. If you've ever felt stuck in a situation you can't seem to move forward from, this conversation will help you break out of it and take your next step with confidence. Follow Alex Pardo here: * Alex Pardo Website: https://alexpardo.com/ * Alex Pardo Facebook: https://www.facebook.com/alexpardo15 * Alex Pardo Instagram: https://www.instagram.com/alexpardo25 * Alex Pardo YouTube: https://www.youtube.com/@AlexPardo * Storage Wins Website: https://storagewins.com/ ⸻ Have conversations with at least three storage owners, brokers, private lenders, or equity partners inside the Storage Wins Facebook Group. Join for free here: https://www.facebook.com/groups/322064908446514/ [https://www.facebook.com/groups/322064908446514/]

S2E21: Wholesaling Your First Storage Deal Step-by-Step

In this episode of Storage Wins, Alex Pardo works directly with Dan Wentzel to break down the step-by-step process of wholesaling a self-storage facility. After spending months trying to get a small deal under contract, Dan finds himself stuck in the details—overthinking contracts, working with the wrong professionals, and letting fear slow down progress. Alex pulls back the curtain on what should actually happen once you agree on a price with a seller. From choosing the right title company to structuring attorney relationships, handling earnest money, and managing communication between all parties, this episode simplifies what often feels like a complicated and overwhelming process. More importantly, this conversation highlights a key lesson every investor must learn: the deal doesn't fall apart because of complexity—it falls apart because of hesitation, overthinking, and lack of clarity. By the end of the episode, Dan walks away with a clear plan of action and a much simpler framework to move forward. You'll Learn How To: * Navigate the wholesaling process from agreement to closing with clarity * Avoid costly mistakes when working with attorneys and title companies * Structure attorney relationships using flat fees instead of hourly billing * Identify and choose investor-friendly escrow agents or title companies * Handle earnest money deposits and protect yourself in the process * Stay in control of the deal as the "connective tissue" between all parties ⸻ What You'll Learn in This Episode: [1:12] The problem: getting stuck after agreeing on a deal [3:46] Why this deal took 2–3 months to get under contract [5:16] How fear and overthinking slowed down progress [7:04] Why you should never pay attorneys hourly for simple deals [9:23] How to find investor-friendly title companies and escrow agents [10:44] Using your network to source the right professionals [11:17] Building a database of title companies across multiple states [12:21] Why settlement fees are paid at closing—not upfront [14:24] What a typical settlement fee looks like ($500–$1,000 range) [15:57] How to position yourself for long-term relationships with vendors [17:29] Why thinking relationally beats thinking transactionally [18:27] Typical flat fees for contract review and what to expect [20:37] How attorneys can accidentally kill deals with over-lawyering [21:50] Why simple deals should stay simple [23:29] The importance of asking for help earlier in the process [25:09] How to structure earnest money deposits (EMD) properly [26:49] Avoiding wire fraud by verifying instructions [29:18] When (and when not) to pay attorneys upfront [31:27] Disclosure and legality considerations when wholesaling [33:47] What happens after you choose a title company [35:05] How to position yourself honestly as a wholesaler [36:36] Finding photographers or boots-on-the-ground help for marketing [40:25] Why your job isn't done after finding a buyer [41:27] Becoming the transaction coordinator to ensure closing Who This Episode Is For: * Investors trying to wholesale their first self-storage deal * Listeners confused about the process after getting a deal agreed upon * Anyone overwhelmed by contracts, attorneys, and timelines * Entrepreneurs who tend to overthink and delay action * People who want a clear, simple path to closing deals ⸻ Why You Should Listen: Most investors don't get stuck because the process is hard—they get stuck because it's unclear. This episode simplifies the entire wholesaling process and gives you a clear roadmap for what to do, when to do it, and how to avoid the most common mistakes. From working with the right professionals to managing communication and staying in control of the deal, this conversation removes the confusion and replaces it with confidence. If you've ever felt stuck after getting a deal in motion, this episode will help you move forward faster—and with far less friction. Follow Alex Pardo here: * Alex Pardo Website: https://alexpardo.com/ [https://alexpardo.com/] * Alex Pardo Facebook: https://www.facebook.com/alexpardo15 [https://www.facebook.com/alexpardo15] * Alex Pardo Instagram: https://www.instagram.com/alexpardo25 [https://www.instagram.com/alexpardo25] * Alex Pardo YouTube: https://www.youtube.com/@AlexPardo [https://www.youtube.com/@AlexPardo] * Storage Wins Website: https://storagewins.com/ [https://storagewins.com/] ⸻ Have conversations with at least three storage owners, brokers, private lenders, or equity partners inside the Storage Wins Facebook Group. Join for free here: https://www.facebook.com/groups/322064908446514/ [https://www.facebook.com/groups/322064908446514/]

S2E20: The Problem with This Deal That Cash Flows Day One

In this episode of Storage Wins, Alex Pardo and Dan Wentzel break down a live deal opportunity that checks many of the boxes investors are looking for: strong current revenue, below-market rents, and favorable seller financing terms. But as the numbers start to come together, the real conversation shifts from the deal itself to something deeper—confidence. Dan walks through a 32,000 square foot facility in Washington state that's generating roughly $275,000 in annual revenue with clear upside potential. With seller financing on the table at just 5% interest and no money required out of pocket, the opportunity presents a realistic path to immediate cash flow and long-term growth. As Alex breaks down the numbers in real time, the deal begins to take shape: from roughly $2,000 per month in current cash flow to a projected $4,500+ per month after implementing operational improvements and raising rents. But despite the strength of the deal, hesitation still shows up—highlighting a key truth for every investor: the biggest obstacle isn't always the deal, it's the belief that you're ready for it. This episode is a powerful blend of tactical deal analysis and mindset coaching—showing you how to evaluate opportunities through worst-case, likely-case, and best-case scenarios, while also challenging the fear that can hold you back from moving forward. You'll Learn How To: * Evaluate deals using worst-case, likely-case, and best-case scenarios * Break down cash flow, NOI, and debt service in simple terms * Identify strong opportunities based on current performance—not just projections * Leverage seller financing to acquire deals with little to no money down * Decide when to bring in an equity partner versus taking down a deal yourself * Move quickly on opportunities without overanalyzing What You'll Learn in This Episode: [0:00] Recap of the journey and the importance of documenting the process [2:14] Celebrating wins and rebuilding momentum after a reset [5:15] The opportunity: 32,000 sq ft facility in Washington state [6:33] Why seller financing at 5% changes the entire deal [8:59] Understanding occupancy and what it reveals about pricing [11:03] Breaking down revenue and estimating NOI [14:07] How to calculate cash flow after debt service [17:09] Why this deal works with no money out of pocket [21:23] Projecting future upside through rent increases and tenant protection [23:59] Moving from $2K/month to $4.5K/month in cash flow [26:04] The real hesitation: confidence vs capability [30:14] Why fear shows up when the opportunity is real [33:40] Equity partner vs doing the deal yourself [36:10] Negotiating terms: price, duration, and flexibility [40:20] Due diligence, earnest money, and structuring offers [45:26] Why imperfect action beats waiting for certainty [48:00] The next step: take action and control the deal Who This Episode Is For: * Investors evaluating their first real deal opportunity * Listeners who understand the numbers but hesitate to act * Anyone unsure how to structure creative financing deals * Entrepreneurs dealing with fear when the stakes get real * People ready to move from learning into action Why You Should Listen: * The deal doesn't change—but your belief in yourself does. * This episode shows how even a strong opportunity can feel uncertain when you're stepping into something new. By breaking down the numbers and the mindset side by side, you'll see exactly how to evaluate deals objectively—and how to push past the hesitation that comes with growth. * If you've been waiting for the "right" deal or the "right" moment, this conversation will challenge you to trust your preparation, take action, and step into the opportunity in front of you. Follow Alex Pardo here: * Alex Pardo Website: https://alexpardo.com/ [https://alexpardo.com/] * Alex Pardo Facebook: https://www.facebook.com/alexpardo15 [https://www.facebook.com/alexpardo15] * Alex Pardo Instagram: https://www.instagram.com/alexpardo25 [https://www.instagram.com/alexpardo25] * Alex Pardo YouTube: https://www.youtube.com/@AlexPardo [https://www.youtube.com/@AlexPardo] * Storage Wins Website: https://storagewins.com/ [https://storagewins.com/] Have conversations with at least three storage owners, brokers, private lenders, or equity partners inside the Storage Wins Facebook Group. Join for free here: https://www.facebook.com/groups/322064908446514/ [https://www.facebook.com/groups/322064908446514/]