Alex Erbs is the VP and co-owner of Storage Mall Group and Gateway Storage, a family-run business with over 60 years of experience in the self-storage industry. With more than 2 million square feet under management across 11 states and over 12,000 units, Alex has played a pivotal role in scaling operations across the Midwest and Northeast. He also serves as Vice President of the Missouri Self-Storage Association and sits on the board of the Illinois Self-Storage Association. His career began while still in college, supporting his uncle’s operations before launching a self-storage business with his father that quickly grew into a regional force.

In this episode, Alex shares deep insights into self-storage investing, third-party management, and automation trends. He unpacks how remote management works in practice, why feasibility studies are non-negotiable, and the biggest mistakes new investors make—like overpaying for facilities. The conversation covers acquisition strategy, the shift away from kiosks, the rise of dynamic pricing and smart tech, and the importance of local market saturation. Listeners will walk away with a practical understanding of how to succeed in self-storage, from setup to scaling.

Connect with Raj:

Twitter: twitter.com/ItsRajTut

LinkedIn: https://www.linkedin.com/in/rajtut/

Instagram: instagram.com/ItsRajTut

TikTok: https://www.tiktok.com/@itsrajtut

Connect with Alex:

Website: https://www.storagemall.com

LinkedIn: https://www.linkedin.com/in/alex-erbs

Email: alex@storagemall.com

Timestamps:

00:00 Why “Build It and They Will Come” No Longer Works

02:18 How Alex Got Started in Self-Storage with Family

05:17 Finding Opportunity Where REITs Wouldn’t Go

07:25 Launching Third-Party Management by Accident

10:07 The Rise of Remote & Hybrid Management Models

14:32 How Big Operators Use Management to Buy Later

18:14 When to Use Remote vs On-Site Staffing

28:34 The 4 Core Tech Upgrades Every Storage Site Needs

39:30 Using AI and Dynamic Pricing to Maximize Revenue

54:10 The Real Cost of Overpaying for a Storage Facility

This podcast is brought to you by Storyboard Living

This podcast is brought to you by Storyboard Living

If you're looking to sell us a 40+ unit multifamily property in the St. Louis region, or another part of MO/IL, please email deals@storyboardliving.com

Connect with us at our Website: https://storyboardliving.com/

LinkedIn profile: https://www.linkedin.com/company/storyboard-living/

#SelfStorage #CommercialRealEstate #StorageInvesting #RealEstateStrategy #PassiveIncome #RemoteManagement #REITs #StorageBusiness #AutomationInRealEstate #MidwestInvesting #MultifamilyInvesting #FeasibilityStudy #SmartStorage #DynamicPricing

Tim Crowley is a St. Louis-based real estate investor and entrepreneur who built a decades-long career in triple net sale-leasebacks, conservative underwriting, and long-term investing. With no formal real estate background, Tim entered the industry after careers in manufacturing and oil & gas, eventually becoming a respected figure across 21 states. He’s also known for his role in golf course development, having helped build Gateway National, widely considered the best public golf course in the St. Louis region.

In this episode, Tim shares the story of how he transitioned from commission sales into oil and gas and ultimately found his calling in real estate. He explains the mechanics behind triple net leasebacks, how to evaluate private credit risk, and why treating real estate as inventory changed the game. He opens up about failures, market shifts, and his conservative investment principles. Whether it’s raising a family, navigating recessions, or turning buildings into cash flow, Tim reveals timeless principles that guided his success.

Connect with the Host

Twitter: twitter.com/ItsRajTut

LinkedIn: https://www.linkedin.com/in/rajtut/

Instagram: instagram.com/ItsRajTut

TikTok: https://www.tiktok.com/@itsrajtut

Connect with the Guest

https://www.linkedin.com/in/timothy-crowley-10881015/

Timestamps

00:00
01:50 Lessons from his mentor Stanley Grossman
03:00 Growing up in a working-class immigrant family

05:45 Why oil and gas investing didn’t work out

08:19 Tim’s first real estate deal: a bank leaseback
10:44 Risk-taking and getting married without a deal closed

12:00 Early bank sale-leaseback transactions

13:05 Why he avoided value-add outside St. Louis

14:10 What is a triple net leaseback?

15:13 How they underwrote tenant credit

17:03 Real estate as paying inventory

18:24 Creating favorable loan terms with banks

20:35 Operating through rising interest rates
22:50 Navigating bankruptcies and receiverships

25:16 The golden years: a 10-year run of opportunity

27:18 How they structured 101% financing

28:09 What counts as value-add in net lease deals

30:01 Lease terms that protect investors

31:27 Why he avoided inflated rent deals

33:10 Golf course investing and Gateway National

35:27 The downtown St. Louis real estate opportunity

37:03 Challenges facing St. Louis today

39:18 Safety then vs. now

40:00 Building Gateway National Golf Links

42:43 Buying Stonewolf Golf Club
44:51 Legacy, parenting, and moral grounding
46:16 Why he chose to walk away from upside on Gateway

48:28 Why the fundamentals always mattered more than flash

49:30 Tim’s hole-in-one advice: “Do what you say you’re going to do”

If you're looking to sell us a 40+ unit multifamily property in the St. Louis region, or another part of MO/IL, please email deals@storyboardliving.com

Connect with us at our Website: https://storyboardliving.com/ LinkedIn profile: https://www.linkedin.com/company/storyboard-living/

Cortney Mauldin is a seasoned FHA loan originator based out of St. Louis with a remarkable track record in commercial real estate finance. Over the past five years, he has originated $375 million in HUD-backed loans and has overseen more than $4 billion in loan volume throughout his career. Beginning his journey in 2003 as an entry-level FHA underwriter, Cortney rose through the ranks thanks to his analytical mindset and passion for real estate. He now plays a critical role in FHA multifamily lending, working on everything from market-rate apartments to senior housing projects nationwide.

In this episode, Cortney unpacks the structure and strategy behind FHA and HUD loans, including the advantages of step-down prepayment models, streamlined refinancing options like 223(a)(7), and the nuanced role of underwriting vs origination. He offers clarity on how HUD compares to Fannie and Freddie in terms of cost, timing, and leverage, and shares timely insights into how rising interest rates are affecting deal valuations and debt proceeds. Cortney also discusses the importance of mentors, professional resilience, and finding personal joy outside of work — all while giving listeners a behind-the-scenes look at what it's like to manage complex real estate transactions.

Connect with the Host

Twitter: ⁠twitter.com/ItsRajTut

LinkedIn: ⁠https://www.linkedin.com/in/rajtut/

Instagram: ⁠instagram.com/ItsRajTut

TikTok: ⁠https://www.tiktok.com/@itsrajtut

Connect with the Guest LinkedIn:https://www.linkedin.com/in/cortney-mauldin-86703b6/

Company Website: https://berkadia.com/

Timestamps

00:00 Introduction to Cortney and her FHA loan experience

00:44 Cortney’s career background and transition into origination

02:53 How she entered commercial real estate and her early real estate investments

04:36 The underwriting-to-origination journey and differences in skillsets

06:51 Art vs science in underwriting and origination

08:13 HUD’s low default rate and how the insurance model works

10:02 Comparing HUD, Fannie, and Freddie — process, timing, and leverage

12:04 What limits HUD loans today and how interest rates impact them

14:54 Step-down prepayment penalties and HUD refinancing options

17:10 Loan mods vs 223(a)(7) streamlines explained

18:50 Minimum deal size and when HUD makes financial sense

21:13 Accessibility standards and post-closing repairs

23:09 How Cortney evaluates deals and determines pricing

25:38 The coming wave of maturities and why multifamily is more resilient than office

27:40 How HUD plays a countercyclical role in the capital markets

29:08 Appraisal strategy and how underwriters adjust value estimates

31:06 Risk, compliance, and protecting underwriter credibility

34:07 How Cortney manages complex workflows and borrowers’ expectations

37:55 Why borrowers should consider FHA financing

40:54 New HUD rule changes making it easier to refinance new construction

42:19 Cortney’s advice on mentorship, long-term growth, and life balance

This podcast is brought to you by Storyboard Living.

If you're looking to sell us a 40+ unit multifamily property in the St. Louis region, or another part of MO/IL, please email deals@storyboardliving.com

Connect with us at our Website: https://storyboardliving.com/

LinkedIn profile: https://www.linkedin.com/company/storyboard-living/