166. Now is the Time to Make Millions: How We Leverage Recessions
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 1 August 2022
⏱️ 28 minutes
🧾️ Download transcript
Summary
Welcome back to the Self Storage Income podcast!
The current level of inflation is out of control. With the Fed desperately trying to hedge against it by raising interest, we might be headed into, if not already in, another recession. As we mentioned in last week’s episode, the market is shifting, and capital is getting more expensive. Consumer sentiments are changing as people become more frugal and increase savings.
But then why did we just buy 23 facilities? All at once?? How is that even possible? Let’s talk about it in this week’s episode.
You might have noticed that we’re adding a new segment to our podcast: Comment of the Week! This is where we read one of YOUR comments posted on our social platforms – like YouTube, Instagram, Twitter, etc. – or a review from this podcast on iTunes, Spotify, or Stitcher. As much as we love sharing our knowledge and our success stories, we also love hearing the stories and feedback from you, so we’re sharing them here on the podcast. Thanks for your support!
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WE’RE HIRING - if you think you’d be a great fit for the Cedar Creek Team, contact me here: https://www.selfstorageincome.com/contact
The Self Storage Income Podcast is Sponsored by:
Forge Building Company. Forge is our go-to building contractor for all things self-storage. In AJ's words "Forge has saved us literally hundreds of thousands of dollars on one deal alone through their ability to value engineer, improving our facility at the same time." Exclusive to SSI listeners, Forge is offering a FREE consultation and Complimentary Site Layout.
Get in touch with Forge here: - https://forgebuildings.com/podcast
The Self Storage Income Podcast is also sponsored by:
Janus International - https://www.janusintl.com/
Live Oak Bank - liveoakbank.com/incomepodcast
Tenant Inc. - https://www.tenantinc.com/
Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek Wealth here:
https://www.cedarcreekwealth.com/
Investing in real estate is like climbing a mountain, depending on where you are on your journey, you need a different set of tools and resources so you can grow. That's why we created The Circle - the go-to real estate investment community to help people grow and scale in real estate. Find out more here:
Want to pick up my best-selling book for free? You got it - just head over to the Self Storage Income website and download your free copy here: https://selfstorageincome.com/
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Why we like this deal and why we would go about this in the middle of such economic uncertainty |
| 0:05.2 | is because there's an overarching, and this is what I want to run through you guys. |
| 0:10.4 | This deal is the lowest price in every single market revenue per square foot. |
| 0:17.4 | We're like, this is easily worth 50 plus dollars a square foot. And in fact, during |
| 0:22.2 | the economic downturns and during the uncertainties that may be happening in these markets |
| 0:29.5 | that are stable, they're really good, we would be a top player in all of them. And we could |
| 0:35.2 | outbeat all the competition. Hey, what is up everybody? Welcome to the self-storage |
| 0:41.0 | income podcast. My name is Yen and I'm the director of media here at Cedar Creek Wealth. We have a |
| 0:46.3 | fantastic episode lined up today. There's been a lot of fear and a lot of speculation in the |
| 0:52.1 | current economy because of the massive inflation we have |
| 0:55.4 | seen recently and the recession that we're either in or that's about to hit us. What does this |
| 1:01.2 | mean for self-storage? Are there still deals going on right now? Is this the time to stop |
| 1:07.0 | investing or is this the time to go all in? Well, in this episode, we're talking about a $150 million deal that we just acquired. |
| 1:16.3 | This is a portfolio with 23 self-storage facilities all at once, and AJ is going to be |
| 1:23.7 | breaking down how we came about this deal and why we're even considering buying it |
| 1:29.3 | in a declining economy. I'm so excited for this episode, guys. If you enjoyed this podcast, |
| 1:34.9 | be sure to leave a review that really helps us out and helps our podcast be seen more by other |
| 1:40.1 | people so we can share our knowledge and information with them as well. But anyways, guys, |
| 1:45.7 | let's get right into it. All right, guys, Connor here from the Self Storage Income podcast. I'm |
| 1:55.0 | just as excited as you guys are to dive into this episode. But first, we have to give out a huge |
| 2:00.4 | shout out to our amazing sponsors. |
| 2:03.1 | So if you're looking to build or develop a self-storage facility, one of the big challenges |
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