The self-storage industry has been growing for quite some time, and the ultra-strong real estate market could help accelerate this trend. But with several big players in the industry, which is the best one to invest in? In this Fool Live video clip, recorded on Feb. 2, Fool.com contributor Matt Frankel, CFP, responds to a viewer question about the best places to invest in the self storage industry right now. 10 stocks we like better than Life Storage IncWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Life Storage Inc wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Matt Frankel: Fool in a Cornfield says, "The current combo of Fool Live hosts seems like the right crew to answer this question. I hope you don't disappoint. With the mass migration of people in the United States and the housing market being so active, I am putting together a bracket of storage REITs. Thoughts on PSA, which is Public Storage (NYSE: PSA). I'm thinking you mean LSI, which is Life Storage (NYSE: LSI), and NSA, which is National Storage Associates [Afflilates] (NYSE: NSA), I believe, and any you think I should consider." Well, I will say without commenting too much upon each individual one, I love the self-storage industry right now in general as a long-term way to invest. I own Public Storage. They're not my favorite in this space right now. I've just owned them for 10 years and have a small position, so it's still there. The storage industry other than the few big players at the top, Public Storage, Life Storage, there's Extra Space Storage (NYSE: EXR) is another one -- other than the ones at the top, it's a very fragmented industry. The majority of self-storage facilities in America are owned by companies that own four fewer units. So like mom-and-pop operators. It's a very fragmented industry. It's still on the pretty early stages of REIT consolidation, meaning Public Storage, Life Storage, and all of them will have a lot of opportunities to build their market share, even in the existing inventory. Self-storage, it's very inexpensive type of commercial property to build and operate. Most self-storage facilities are a little more than a prefab building. They can be put up in a few weeks. They don't need a lot of maintenance. They're pretty bare interiors. They're meant to store stuff. Very little staff; really good economics. Tenants are on month-to-month leases, which is the only negative there. But I love the economics of the business. It's like we were talking about with the bank accounts, it's a pain to switch. If you're at a Public Storage facility and you rent out at a 10-by-20 storage locker that is full of all your stuff, and a Life Storage opens next door that's a little bit cheaper, are you really going to haul all that stuff over there to get into the unit and save a few dollars? It's a really a sticky customer base, I would say. I really like the economics; I really like the opportunities in the market. A lot of them, especially Life Storage, are really branching out to third-party management, where they're going to some of these smaller operators and saying, "We'll manage your facility for you. We'll slap the Life Storage name on the front, but we don't want to buy it." Which is really good economics for everyone involved. I like the opportunities there. I'd have to say Life Storage is probably my favorite in this space. At the moment if I were going to buy a new one today. But I do love the self-storage space and I hope that helped.Matthew Frankel, CFP owns shares of Public Storage. The Motley Fool owns shares of and recommends Life Storage Inc. The Motley Fool has a disclosure policy.Source