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Self Storage Income
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Indhold leveret af AJ Osborne. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af AJ Osborne eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
The authority on creating wealth and income through self storage. Find our video podcast on YouTube: https://www.youtube.com/playlist?list=PLoaCszL7eN9T7EixaJgL49WTLsT-CWLD1
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430 episoder
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Manage series 2770596
Indhold leveret af AJ Osborne. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af AJ Osborne eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
The authority on creating wealth and income through self storage. Find our video podcast on YouTube: https://www.youtube.com/playlist?list=PLoaCszL7eN9T7EixaJgL49WTLsT-CWLD1
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1 283. Self Storage Insurance 101: What You MUST Know to Protect Your Property 32:10
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Get my FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment: https://www.selfstorageincome.com/start-podcast Most people don’t realize it, but self storage facility insurance can kill your deal. Fires, tornados, hurricanes, and winter storms are making it more and more costly to protect your facility, and rising prices could eat into the profit margin you worked so hard to create. How do you keep your insurance prices reasonable while still protecting your property? Are insurance premiums about to skyrocket again, or is 2025 the year they finally “level off”? We own a lot of self storage, but we aren’t insurance specialists, so we brought one on to help YOU get the most coverage at the lowest cost. Terry Campbell is the expert in self storage. He’s done everything from building to lending, operating, and educating on self storage investing, but now, he’s tackling a bigger beast: self storage insurance. If you’re new to self storage investing, this is an episode you MUST listen to before buying your first property. If you’ve been investing in storage for a while, you already know how pricey premiums have gotten, and Terry’s tips can help you save some serious cash when it’s time for renewal. What you’ll learn in today’s show: What’s behind the recent insurance crisis and why 2025 may finally be a “leveling off” point How to factor insurance price hikes into your underwriting for new and existing facilities Why more and more facilities are moving to “self-insuring” even at its high cost Expert tips to lower your insurance premiums and when to (and when NOT to) shop other carriers Terry’s top picks for self storage insurance carriers who can cover your facility Johnson Insurance: https://gojohnsoninsurance.com/ Email Terry: terry@gojohnsonins.com 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 📑 Our Self-Storage Feasibility Studies will help you speed up the process in understanding markets, potential risks, and analyzing the facility itself. https://cedar.cc/feasibility-studies/ 📉 Our current investment opportunities: https://cedar.cc/invest…
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1 282. Mastering Self-Storage Operations: Marketing, Maintenance & Growth 28:53
28:53
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Get my FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment: https://www.selfstorageincome.com/start-podcast In this episode of Self Storage Income , Conner breaks down the key strategies for maximizing self-storage profits through seasonality management , smart marketing, and operational efficiency. Learn how to adjust your approach throughout the year to maintain high occupancy rates, reduce costs, and boost revenue. What You’ll Discover: 📈 How to optimize marketing budgets for seasonal shifts ❄️ The impact of seasonality on self-storage occupancy 🔑 Strategies for managing employees and operations year-round 🛠 Essential maintenance tips to avoid costly mistakes 💡 How to scale your self-storage business efficiently Whether you're new to self-storage investing or managing multiple facilities, this episode is packed with actionable advice to help you succeed in any market condition. 🎧 Tune in now to unlock your facility’s full potential! 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 📑 Our Self-Storage Feasibility Studies will help you speed up the process in understanding markets, potential risks, and analyzing the facility itself. https://cedar.cc/feasibility-studies/ 🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207 📖 Get AJ's new book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq…
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1 281. Self-Storage Success Stories: How Real People Achieved Financial Freedom 43:14
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Get my FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment: https://www.selfstorageincome.com/start-podcast Ready to achieve financial freedom? In this episode of Self Storage Income , we share real-life case studies of people building wealth through self-storage investing. Discover how beginners used creative strategies like seller financing, SBA loans, and partnerships to secure deals and grow their income. We break down key topics, including: How to raise capital for self-storage deals. Negotiating with banks and investors in a high-interest-rate market. Structuring deals to maximize cash flow and value. This episode is packed with actionable insights to help you succeed. Don’t miss out—listen now and start your journey to financial freedom! Listen to Charles tell his story: https://www.selfstorageincome.com/podcasts/self-storage-income-2/episodes/2148881990 Links: 📌 Tenant Inc. - Streamline your property management with cutting-edge tools. https://www.tenantinc.com/ 🌳 Live Oak Bank – Our trusted go-to for self-storage financing, including SBA loans. https://www.liveoakbank.com/business-loans/self-storage/ 💻 Our Private Facebook Community Group https://www.facebook.com/groups/selfstorageincome/ 📖 Grab the book for more insights into structuring deals and building wealth through self-storage! https://a.co/d/aRSKcSq…
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1 280. Self Storage Outlook 2025 | A New Cycle, Best Markets, & Potential Pitfalls 50:49
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Get my FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment: https://www.selfstorageincome.com/start-podcast The last few years have been difficult for real estate, self storage included. Is there finally light at the end of the tunnel? Today, we’re giving you our high-level, self storage industry outlook for 2025. Whether you’re a long-time investor or brand new to the industry, you’re about to learn why NOW is the time to invest in self storage! After a three-year down period, we are finally turning the corner and entering a new cycle. If you’re an investor, there are plenty of reasons to be excited about where self storage is headed. If you’ve been sitting on the sidelines, there’s no better time to get into the game than right now. And this isn’t just false optimism. We’re so bullish that we’re buying and developing our own facilities in 2025! In this episode, we’re reflecting on 2024, diving into the data, and giving you an investing roadmap for the next 12 months and beyond. Tune in to learn which markets offer the most opportunity for small investors and how YOU can take advantage of an enormous transfer of facilities that will occur by 2030. What you’ll learn in today’s show: Why NOW is the best time for new investors to get into self storage The enormous self storage “transfer” that will happen by 2030 The third and fourth-tier markets that offer huge opportunities for small investors Why we are primed to see a self storage development boom in the US How new investors can take advantage of waning interest in self storage Why good assets at fair prices always trump bad assets at great prices 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 🌳 Work with someone experienced in self storage loans at Live Oak Bank! We seriously love them. https://www.liveoakbank.com/business-loans/self-storage/ 🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207 📖 Get AJ's new book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq 📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest…
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1 279. How I Bought a $1.5M Self Storage Facility as a Complete Beginner w/Ben Kall 1:13:11
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Get my FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment: https://www.selfstorageincome.com/start-podcast What does it take to buy your first self storage facility? Just ask Ben Kall, whose first investment was a $1.5M facility after having ZERO experience in the industry. Sounds like a big jump, doesn’t it? Thankfully, Ben is going to show you how to do the same today, explaining how to buy a storage facility (even with no previous experience in investing), work with banks, and manage a business. But don’t worry, it’s not as hard as it sounds! Ben has a handful of do’s and don’ts he’s sharing with us in this episode, and we go through everything! From structuring your loan with the bank to why you should treat your self storage facility like a hotel, seller financing and creative financing terms that are working for Ben, and building your buy box so you can achieve financial freedom! Ben has grown quickly, going from zero self storage to 125,000 net rentable square feet in under a decade. He’s been able to take home six figures in cash flow (seriously!) and has amassed a sizable portfolio in a very short amount of time. This is a masterclass in buying your first facility and scaling up! What you’ll learn in today’s show: The do’s and don’ts of buying your first self storage facility The creative financing offers Ben uses to get sellers to accept How to negotiate with banks and lenders so you get better terms Why you want to treat your facility like a hotel and put convenience first Picking the right partners and why this is crucial if you want to scale faster The “buy box” you must build BEFORE you buy a facility 📷 Ben’s Businesses and Instagram: https://www.mn-storage.com/ https://www.waukeestorage.com/ https://www.instagram.com/ben_kall_/ Links: 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 📑 Our Self-Storage Feasibility Studies will help you speed up the process in understanding markets, potential risks, and analyzing the facility itself. https://cedar.cc/feasibility-studies/ 🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207 📖 Get AJ's book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq 📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest…
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1 278. Self Storage Loans 101: SBA, Conventional, Seller Financing, and More w/Live Oak Bank 50:52
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Want to buy a storage facility? Then you’ll need self storage financing—and you’ll want to know where to go BEFORE you find your first (or next) self storage investment. So, today, I brought on one of my favorite lenders, Live Oak Bank, to teach you how to finance a storage facility, no matter how much experience you have or how many facilities you’ve bought. They’ll reveal exactly what they need to see from you to lend, the biggest beginner mistakes that stop you from closing, and their outlook for 2025. Anna Taylor and Bishesh Shrestha have worked with self storage investors for over a decade. At Live Oak, they lend to self storage investors just like you and even own some self storage investments themselves. But Live Oak isn’t like any other bank—they focus on self storage, SBA loans, and making your life WAY easier when buying a storage facility. I went to their Wilmington, North Carolina headquarters to record the most value-packed episode on self storage financing around. Today, we’re talking about SBA loans, why they often wrongly get a bad rap, how to use them to buy your first or next facility, and why you should NOT get them from any regular lender. We talk about why Live Oak actually loves seller financing in a deal, how long they take to close, what down payment you’ll most likely need, and what to know in 2025 as interest rates and lending requirements have changed. What you’ll learn in today’s show: Why the SBA 7(a) loan is such a powerful financing option for self storage investors How much of a down payment you’ll need to bring for an SBA loan Creating a win-win for sellers (and you) by offering a seller financing component to your deal (lower interest rate!) The #1 reason you MUST get underwritten by a lender BEFORE you start making offers Biggest beginner mistakes that stop new investors from closing on their first facility 🌳 Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/…
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1 277. Forecasting Self Storage in 2025 | Are We Headed for a Major Bounce Back? 46:08
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The self storage industry will change in 2025, and it could make you (and many others) very wealthy. In this episode, we’re giving our 2025 self-storage industry outlook, breaking down our predictions for 2025, what self-storage investors can expect, and why this could be one of the greatest years yet for self-storage investing. We’ve just come out of a market-defining cycle. The “easy investing” ended in 2022, and since then, self storage operators have suffered. Discounted rates, low occupancy, endless supply, and deal-breaking interest rates have plagued us. Thankfully, that just booted a ton of your competition out of the market. We believe 2025 could be one of the most critical years in self storage, and we’re making BIG moves. If you want to hear exactly what we’re doing to ensure we grow our portfolio in 2025, what we’re looking to buy, and how we’re finding deals, stick around. These are our 2025 self storage predictions; if you miss them, you could miss out on an opportunity that might not resurface for decades. What you’ll learn in today’s show: Our 2025 self storage industry forecast and predictions for the next year Why the market cycle has flipped and whether or not we’re heading into a bull market The massive opportunities that are coming your way in 2025 (and where to find them) One thing to be aware of that could RUIN your self storage investment no matter your experience Our investing plans for 2025 and where we’re finding deals to buy The biggest barriers to entry for new self storage investors in 2025 (and how to get over them) _____________ 🌳 Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/ 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ Inner Circle: https://www.selfstorageincome.com/inner-circle 📖 Get AJ's new book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq…
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1 276. Major Changes Coming for the Self Storage Industry? | Christmas Q&A! 54:49
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The self storage industry is about to see a major shift in 2025. If you’ve been sitting on the sidelines or waiting out market turbulence, now’s the time to get in the game. We’re entering a new cycle with plenty of opportunities for new investors, but if you blink, you’ll miss out! In today’s episode, AJ and Conner are reflecting on 2024 and offering a high-level view of what’s to come in 2025. Along the way, we’ll be answering your questions! Tune in to learn how YOU can take advantage of huge investing opportunities in the coming year. We cover some of the best ways to find and fund self storage deals, where to find your “boots on the ground” when investing remotely, how to leverage your retirement accounts to invest, and much more. Want to know how to analyze a new market and where to set rent rates? We’ll show you how! But that’s not all. We’ll also share the tools, software, and systems WE use to manage our investments and keep our facilities secure. Worried that your customers will get left behind as you implement new technology? Not to fear—use our strategy to bring them along! What you’ll learn in today’s show: Our forecast for the self storage industry in 2025 and beyond Creative ways to find (and fund) your next self storage deal How to seamlessly transition your customers over to new technology Why “quality” trumps “quantity” when it comes to self storage leads The BEST camera systems and software to implement at your facility The ideal unit vacancy rate for any facility (and when to raise rates!) Leveraging your retirement accounts to invest in self storage Live Oak Bank: https://www.liveoakbank.com/business-loans/self-storage/ Hummingbird: https://www.tenantinc.com/products/hummingbird UniFi: https://ui.com/camera-security Radius: https://www.radiusplus.com/ ESRI: https://www.esri.com/ 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/…
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1 275. Buying vs. Building a Storage Facility: Pros and Cons, Costs, and Timeline with Guest Matt Wallace 52:53
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Buying vs. building storage units: which is the better choice, especially for beginners? Is buying a pre-fab (kit) facility better than building one from scratch? Or does buying a run-down self storage facility with value-add potential outperform building due to lower costs? We brought back an all-time favorite episode with investor Matt Wallace to get you some answers. Matt has done both—buying and building storage units. He’s taken run-down facilities and made them top performers, as well as taking a plot of land and turning it into a 100% occupied self storage facility. Which one does HE think is the better investment? And would he advise a beginner to start with self storage new builds? In this episode, Matt gives a masterclass on the pros and cons of building storage units, who should (and shouldn’t) be doing it, what you MUST know before you start building, and how he “makes” phenomenal self storage deals that most other investors miss. What you’ll learn in today’s show: Buying vs. building self storage facilities and which is better for beginners How Matt filled up a brand new facility (250+ units!) in under three months! The building timeline and why it’s (probably) going to take longer than you think Why you DO NOT want to buy a “self storage kit” and build it yourself How to win a self storage deal even if you feel out of the race — Connect with Matt: https://wealthfit.com/expert/matt-wallace/ Connect with Ben, Cedar Creek’s Debt Expert: https://www.linkedin.com/in/benjamin-benditson-291a6010/ — 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207 📖 Get AJ's new book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq 📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest…
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1 274. My Most Important Message to You Before 2025 27:59
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This isn’t going to be a regular podcast episode. So many of you want to get into self storage, build your business, scale bigger, find financial freedom, and achieve the impossible. I’m directly talking to every one of you in today’s episode as I share the most critical trait of successful people, one that has helped me scale to a level I didn’t even know was possible. If you listen and learn from what I’m about to share, your world will change for the better. Everyone is trying to show you the step-by-step plan to build wealth/a business or buy real estate. The problem? They never discuss the one specific skill that you MUST cultivate if you’re going to succeed in this business. As soon as I learned what it was and how to use it, I was able to make better decisions, grow faster, and spot opportunities that 99% of people will overlook. You can essentially make your own luck (like I have) if you take what I’m saying to heart. If you’re tired of feeling tired, want to go out and make yourself proud, and build something that will help you and your family, 2025 is the year to do it. So, before 2024 ends, listen to this episode. You won’t regret it. What you’ll learn in today’s show: The #1 skill of successful entrepreneurs that allows them to build/scale quicker How to “make your own luck” and let opportunities flow your way The “first principles” you MUST be aware of when growing/scaling your self storage business Why you need to STOP comparing your problems to other people’s NOW How to know if you have what it takes to truly be successful (and what to do if you’re lacking the skills) Growing Wealth in Self-Storage 2.0: https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic-ebook/dp/B0D67CJXTZ…
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1 273. He Stumbled on Self Storage, and Now He’s Selling His Rentals to Buy More w/Derek Weaver 46:15
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This seasoned investor stumbled on self storage just four years ago, and now he’s selling off his rental properties to buy more. Why? Right now, new investors with limited capital can profit from self storage in rural markets where larger firms are unwilling to go. There’s cash flow, appreciation, and, surprisingly, plenty of demand! In the last twenty years, Derek Weaver has dabbled in just about every area of real estate. He’s been a licensed realtor. He’s managed large rental portfolios for other investors. He’s even bought his own single-family and multifamily rental properties. His latest venture? Self storage! He had no idea what he was doing when he “accidentally” bought a dilapidated, 66-unit facility, but taking action and learning on the fly has allowed him to stabilize the property and add another three to his portfolio! In today’s episode, Derek shares why now is the perfect time for new investors to start buying self storage. He’ll show you which types of facilities to target, how to maximize your square footage (and income) with portable units, and the systems and processes you need to scale your self storage business! Insights from today’s episode: Why Derek is selling off rental properties to buy more self storage in 2025 The pitfalls of financial freedom (and why passive income shouldn’ t be your end goal) Maximizing your facility’s square footage and income by adding portable units The key advantages small self storage investors have over large firms Why you can’t beat Midwest property returns at the moment The systems and processes you need to manage your facilities from afar — Email Derek: derek@4731group.com __ 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 🌳 Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/ 🎙️ You can now apply here to be a guest on Self Storage Income, the AJ Osborne podcast OR the Drunk Real Estate Show! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207 📖 Get AJ's new book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq…
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1 272. Will Trump’s Economy Be Good for the Self Storage Industry? 40:59
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President-Elect Trump’s economy could change the course of the self storage industry, but will it be for the better? There are many “what ifs” after the Republicans took the presidency, House, and Senate in the 2024 election. Will inflation return? Could interest rates finally fall back down to reasonable levels? Will homebuilding get easier, prompting more moves and, by proxy, more self storage demand? In this episode, we’re sharing our raw opinions on what Trump’s economy could mean for Americans. We’re tackling a few critical subjects before making any predictions about where Trump may take the economy: mortgage rates, government spending, inflation, and recession risk. Trump said he’ll lower interest rates, giving Americans an affordability boost. This would be terrific for self storage, but are lower interest rates really under his control? What about government spending? Lowering it could help curb inflation, and Trump’s cabinet looks EAGER to slash these budgets. But, with such an economic overhaul, will we be steered toward a recession, and if so, is that a bad thing? How will this affect YOUR ability to buy (and manage) a self storage facility? Should now be the time to wait to see what happens next? Stick around because we’re getting into it all. What you’ll learn in today’s show: How a Trump presidency could impact interest rates and self storage investing The “sticky spot” that Trump finds himself in and whether he can escape it Slashing government budgets and the results of downsizing departments Whether Trump will be better or worse overall for real estate investors Hope for homebuilders (and homebuyers) as toxic over-regulation could get curbed Should we expect a recession in the coming years (start preparing)? 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 📉 Have your feasibility study done by MY team! https://cedar.cc/feasibility-studies/ 🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207…
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1 271. Self Storage Research for Beginners (Do This BEFORE You Buy!) 50:37
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Listen to this episode BEFORE you buy a storage facility! Things have changed dramatically in the self storage industry, and some of the advice from even just a few years ago has become essentially obsolete. If you want to succeed in self-storage investing, you need to know what makes a good/bad investment in 2024. To help with your self storage research and analysis, Jonah Hall, President of Cedar Creek Capital, is on to share his EXPERT tips on analyzing a self storage facility and market. First, we’re getting into exactly what changed in the industry over the past five years. Since the pandemic, self storage has NOT been the same. Because of that, beginners can get overly optimistic about their first self storage investment, leading them to buy deals that DON’T work out as well as they had hoped. How do you get around this and ensure you only buy facilities that will perform? Jonah shares his advice in this episode. Plus, we’re touching on current cap rates, how unit size preferences are dramatically changing, and signs that a market is oversaturated with self storage. AJ and Jonah reveal the “indicators” they look at before investing in a market to know whether the area is worth it. New to self storage or ready to buy another facility? Don’t miss this episode! What you’ll learn in today’s show: Self storage research and analysis basics, plus the “indicators” to watch before you buy How fluctuating rental rates could impact your investment—and why you can’t afford to get this wrong The changing demand for different unit sizes (smaller units are selling out!) Forecasting rental demand before you buy/build your next facility (and how we do it) Current cap rates we’re seeing in today’s market and why they’re staying so low Advice for beginners if you have zero self-storage experience but want to invest Links: 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 🌳 Work with someone experienced in self storage loans with our sponsors at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/ 🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207 📖 Get AJ's new book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq…
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1 270. Why Multifamily Investors Are Ditching Rentals for Self Storage in 2024 30:35
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Why are multifamily investors selling off their assets to move into self storage? From the inside, it’s easy to see: self storage management lets you build wealth way faster. What do we mean? In this episode, we’re putting multifamily and self storage side-by-side, discussing the good and the bad about managing each asset and why self storage may be your best bet to raise property values and boost your income quickly. If you own residential real estate, this episode might just convince you to switch sides. So why are multifamily and self storage so different? They’re both commercial real estate, rely on debt, and have sizable demand. What most investors don’t realize is just how different the management styles are. In self-storage, you can raise rates quickly, thrive even with high turnover, and make operational changes that can skyrocket property values. This is much different than multifamily. However, even though self storage is an investment property powerhouse, there are still some serious downsides you need to be prepared for if you switch from residential to storage. To help you mitigate them, we’re sharing how to automate your facility (even if it’s REALLY small) and what we do on day one of owning a new self storage facility to boost its value immediately. What you’ll learn in today’s show: Multifamily management vs. self storage management and the CRUCIAL differences between the two How self storage operators can instantly increase their property values (multifamily CAN’T do this) Automating your facility and everything you can do to make your property more “passive” The reason multifamily investors are switching sides and getting into self storage Why tenant turnover is actually a GOOD thing in self storage (not as much in multifamily) Links: 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 🧐 Want to know if you've found a good deal? Have a feasibility study done by OUR TEAM: https://cedar.cc/feasibility-studies/ 📖 Get AJ's new book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq…
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1 269. How to Get Money for Your First (or Next) Self Storage Deal 1:02:26
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If you’re trying to buy your first self storage deal, odds are, you don’t have the entire purchase price sitting in cash in your bank account. So, today, we’re teaching you exactly how to raise capital for real estate, using other people’s money to buy your first or next self storage facility and get the best returns for your investors. If you want to scale in self storage, this is how you do it, and there are many (MANY) takeaways from this episode that you can’t miss. Most people don’t know this, but I NEVER used to raise money for my self storage deals. We were self-funded for most of our existence, and for the longest time, I never wanted the weight of handling other people’s money on my shoulders. That was until people we knew wanted to get in the self storage game WITHOUT running the facilities themselves. They trusted me, saw my track record, and asked to get in. I accepted, knowing that it was wrong NOT to help others build wealth with an asset that gave me so much. So, whether you’re someone with multiple facilities who thinks now is the time to raise capital or a brand new beginner with no money (but a lot of energy!) to invest, we’re teaching you exactly how we raise capital, the common pitfalls beginners must avoid, how to form partnership structures, and why I never EVER “ask” for money when doing my self storage deals. What you’ll learn in today’s show: How to raise money for your first (or next) self storage deal with partnerships, banks, or funds Why you never (ever!) “ask” an investor for money, but you should do this instead Why your #1 priority is NOT the investors in your deal (we’ll explain why) How always being self-funded will slow your growth and make it hard to scale What to start doing NOW if you want to buy self storage but have zero experience Partnership setups to try to get active or passive investors for your deal What to do at the start of any partnership (before things go wrong!) 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 🌳 Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/ 🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207 📖 Get AJ's new book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq 📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest…
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