Part 2 of our Self-Storage Millionaire series dives into Dean’s incredible journey—escaping the corporate rat race and unlocking financial freedom through commercial real estate. He shares the bold moves that grew his portfolio, the one deal that redefined his future, and the mindset shift that made it all possible.
Dean’s success is proof that sometimes, all it takes is one commercial deal to create lasting financial freedom. In this interview, you’ll learn:
- How he found the deal that set him on the path to financial independence
- The strategy behind generating a $1.8 million profit in just three years
- How his mindset about money has shifted since joining our Protege Program
- The “secret” to his success (which isn’t really a secret—it’s available to anyone willing to take action)
If you’ve ever wondered whether commercial real estate could be your path to financial independence, Dean’s story is one you need to hear.
Meet Dean: Self-Storage Millionaire
Peter: Good afternoon, everyone! Peter here, and I’m excited to welcome back a very special guest. This is his third time joining us, and many of you already know him. Dean, thank you for being here!
Dean: Hi Peter. Good to see you again.
Finding the Deal
Peter: Dean, let’s jump right into it. Share with us how you found this particular deal?
Dean: This building was right next door to one of the first properties I purchased with you guys. One day, I decided to introduce myself to the neighbors. As it turned out, the husband of one of the owners was someone I had known for 15 years. We started talking, and I mentioned that if they ever considered selling, please let me know. A few months later, I received that call—and the rest is history.
Peter: It really comes down to relationships, doesn’t it?
Dean: For sure! Relationships are key.
Breaking Down the Deal
Peter: Let’s go over some of the details. This was a 119,000-square-foot building that you purchased for $2.2 million. In a previous video, No Bank Loan Real World Commercial Deal, we discussed how you secured this property using seller financing—a master lease. You put down 10%, correct?
Dean: Yes, that’s right—10% down.
Peter: And the interest rate was 5%, with a five-year term?
Dean: Actually, it was a three-year term—a slightly shorter window.
Peter: But you were able to exit before the three years and make a significant profit?
Dean: Correct.
Increasing Rental Income
Peter: That’s awesome! On day one, the building was generating an income of $21,250 per month. By the time you sold it, you had increased that to $45,000 per month—more than doubling the revenue. How did you manage to increase the rent so significantly, and how long did it take?
Dean: Initially, I took some time to fully understand the property—it’s 119,000 square feet, which is a lot of space to assess. I started examining how the space could be divided more efficiently and used in the best possible way. Through this process, I was able to restructure the layout, bring in higher-quality tenants, and secure a strong anchor tenant with a five-year lease within the first eight months. Additionally, we improved the use of some of the larger spaces and increased rents. In one case, I tripled the income generated by a single space. All in all, this transformation took about 18 months from start to finish.
Why Dean Chose Mentorship
Peter: Dean, this was an incredible deal, but I think our audience would love to hear how your journey started. Why did you decide to apply to our program and become one of our protégés?
Dean: Well, I’ve mentioned this before, but I had been searching for a different career path. I had spent 20 years in sales and business ownership, and I knew that I wanted to shift into commercial real estate. As I started researching online, I came across you, Peter. I knew that if I was going to make this transition, I needed to protect myself from making any catastrophic mistakes at this stage in my career. The best way to do that was to find a mentor who could guide me and help me make the right decisions.
I spent time scanning various YouTube channels, and ran across you and your videos, and honestly, other voices in the industry. But every time, I found myself coming back to you. The way you provided detailed, valuable information really resonated with me. On top of that, I could tell you were a person of faith, which mattered to me—it gave me insight into the kind of person I would be working with. Looking back, it’s been a fantastic experience.
The Value of Mentorship
Peter: I’m really glad you joined us. It’s been a three-year journey so far. If I remember correctly, this deal was your fourth purchase, right? I was looking back at the deal you just closed, and I realized that you and I have exchanged over 372 emails!
Dean: Only that many? I’m not surprised at all!
Peter: Before you joined the program, what did you need help with the most when getting started?
Dean: The biggest challenge for me was identifying and qualifying deals. Beyond that, I needed to understand the different strategies for purchasing properties. And perhaps the most critical thing was building confidence—I really had no clue what I was doing at first. I knew enough to be dangerous, but I constantly questioned whether I was making the right choices. Many of our conversations revolved around that uncertainty. Those were the three key areas where you and your team helped me the most.
Unexpected Benefits of the Program
Peter: Is there anything particularly beneficial about our program that people might not initially think about?
Dean: Absolutely. When evaluating deals, you need detailed instructions—there’s so much to process. If someone is considering mentorship, they should think about what kind of information you’ll receive, how often you’ll have access to conversations with them, and whether that mentor is the right fit for you.
For me, I need to feel a little chemistry with the person I’m working with. I also have to appreciate their approach. Peter, you’ve always been that guy for me. By the time we actually spoke on the phone, I had already watched so many of your videos that I felt like I knew you. So for me, that comfort, when we first talked, I felt like I had know you for years.
Avoiding Common Mistakes in Real Estate Investing
Peter: Dean, now that you’ve been in this business for a few years, what are some of the mistakes that beginning investors should watch out for?
Dean: Probably some of the same mistakes I made when I first started. In the beginning, everyone is eager to jump in and get a deal—everything looks like a great opportunity. But the truth is, you need to slow down and carefully evaluate those deals, qualifying each one. Your program’s training is structured step by step, on how you go through those processes. That was extremely helpful for me.
The Importance of Capital Reserves
Another common mistake is underestimating expenses and the cost of repairs. You don’t want it to become detrimental to your performance. And then there’s capital reserves. You need to set aside funds for unexpected issues because you never know what might come up. The larger and more complicated the property, the more money you’ll need. Just consider that when you’re evaluating properties.
Peter: You and I have had a lot of conversations about unexpected costs over the years—things like the sign and the roof. You definitely needed reserves to cover those expenses and keep everything going.
Graduating from the Program and Finding Success
Peter: So now that you’ve graduated from our program, how does it feel?
Dean: It’s honestly pretty amazing. I’ve thought about it a lot lately. When I first started out, I set a goal to get his done three years. I knew that was ambitious because I was starting from zero. To graduate, I had to generate at least a million dollars in profit—that’s a huge mountain to climb. But looking back, it all started with just one small storage facility and then it just snowballed after that. Once you get that first deal under your belt, it really does move along quickly.
Peter: I remember your first storage property—it was a very obscure property, but you turned it around successfully. After that, you moved on to a medium-sized property, and then finally this larger deal. You took gradual steps. I always tell people—it’s absolutely okay to start small. And that’s exactly what you did, Dean. Now, you’ve reached this point where you’ve successfully graduated.
The Impact of a Single Deal
Peter: Dean, where do you think you would be today if you hadn’t done this deal?
Dean: I’d still be looking for more properties to hit that million-dollar mark. I’d definitely be out searching for new opportunities, but the great thing is that I now have strong cash flow from the properties I own. There are always more deals to be made—I see plenty of opportunities in this market. If this deal hadn’t happened, I’d still be hitting the streets looking for the next one.
Benefits of Profit-Sharing
Peter: As you know, our business model is structured so that we help you buy property, and then you share profits with us. You’ve now shared enough to graduate from the program. In your opinion, what’s the best thing about sharing profits with us? What do you get out of it?
Dean: In my mind, the biggest advantage is that the profit isn’t coming directly out of your pocket. It’s generated from the property’s rental income. That’s a refreshing perspective, and it shifts how you think about investing. You see it as part of a larger financial cycle—one that keeps growing as you invest in more properties. Over time, the amount you share reduces as the investments snowball, which makes it even more rewarding.
The Full Support of a Team
Peter: And throughout the process, you were able to meet our entire team. We helped you with accounting, management, legal aspects—everything. That’s all included in the profit-sharing model. It’s a full-circle system. For us, the model works in a way that ensures we only make money if you do.
Life After Real Estate Success
Peter: Now that this deal is completed and you have several other properties, how has your life changed?
Dean: My life is much less stressful these days. In my previous career, I was working five or six days a week, putting in long hours in a tough business. It was stressful—mentally and physically—and it really took a toll on me. Now, I look back and think, “Why wasn’t I doing this 20 years ago?” It’s been that big of a shift for me. I have the freedom to be more selective about what I do and where I invest. Most importantly, I have time to spend with my family. My wife has started a new career, and she now has the flexibility to pursue what she wants to do as well. It’s been great.
Advice for Aspiring Real Estate Investors
Peter: Any final words of wisdom for those considering joining our program and following in your footsteps?
Dean: If you’re like me—in your early fifties and making a major career change—you really need mentorship.
- Mentorship: If you don’t have prior business experience, having someone guide you through the process is crucial. There are so many pitfalls that can set you back years if you’re not careful. A lot of people online make real estate investing sound easy, but unless they’re helping you day to day through the process, you could make some catastrophic errors that could potentially cost you a decade of your life. That’s why I would always recommend finding a mentor.
- Mindset Shift: Real estate investing requires a mindset shift. You need to have what’s called a “growth mindset”—where you start thinking differently about money and how to put it to work for you. That shift made all the difference for me, and Peter’s coaching helped reshape how I approach investing and financial decisions.
- Relationships Matter: Finally, this is a people business. One of my biggest deals happened simply because I walked next door and met someone I had known for 15 years. Had I not built that relationship over time, the property likely would’ve gone on the market, and I would’ve had to compete for it. Instead, I got a call six months later saying, “Hey, we’re ready to sell, and we want to sell to you.” The same principle applies to tenants, property managers, contractors—everyone on your team. You need to develop strong relationships over time, because they make your life easier and your investments more successful. If you’re not naturally good at dealing with people, make sure someone on your team is. It makes all the difference.
Peter: Well said, Dean. Thank you again for joining us. Your story is incredible, and I know it will inspire so many people who are thinking about taking this path. It’s been a pleasure working with you, and I look forward to the next deal!
Every Successful Commercial Real Estate Investor Has a Mentor
If you have any comments or questions, text PETER to 833-942-4516.
Every successful commercial real estate investor has a mentor. Get your mentor here: Commercial Property Advisors
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