167. Building & Developing A Self Storage Facility w/ Ryan Lorenzini (Part 1)
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 9 August 2022
⏱️ 46 minutes
🧾️ Download transcript
Summary
As you know, we’ve had some pretty incredible guests here on Self Storage Income, but I have to be honest here… I’m extra excited for our guest today. Meet my friend and fellow self storage investor Ryan Lorenzini. Ryan is also the Director of The Claremont Companies.
Ryan became familiar with property development initially through home building. Fast forward to today and The Claremont Companies develop and operate a number real estate asset classes including self storage. He’s an absolute wealth of knowledge when it comes to property development and market analysis when looking at the viability of a self storage project.
This being said, we of course talk a lot on the podcast today about self storage development. In fact, this episode is part 1 of 2 of this discussion. Stayed tuned for the second part, where we follow up on a lot of the ideas introduced in this one.
Self storage development questions easily rank in the top three questions I get consistently. So many people have land or even have a storage facility with expansion potential, or are even looking to go full fledged self storage developer. All said and done, the questions are the same - everyone wants to know whether to buy or to build, people want to know how much it costs to develop, and everyone wants concrete answers when it comes to potential development projects. We’ll today, we touch on every single one of these talking points and Ryan shares his years of experience and insight to help add clarity to the ever complex process of development.
As you’ve heard me mention, the opportunity for self storage development is huge right now - the key? Doing it right!
Tune in, take note, and you’ll be well on your way to better understanding the self storage development process.
Be sure to check out Ryan’s company and keep up with all the great work him and his team are doing on their website: https://www.claremontco.com
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
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| 0:00.0 | It really comes down to politics. And so when you're developing in a place like Northern California, |
| 0:05.0 | you know, we like to think, you know, it's like we've been there a long time, so we understand the politics. |
| 0:10.0 | That's one of our, we would call it like competitive advantage, you know, in terms of we can, you know, |
| 0:15.0 | we know how to get that stuff approved in California. But, but it really just comes down to expertise of understanding how to talk to the |
| 0:24.3 | city and talk to those council members and talk to those planning commission members and really |
| 0:28.8 | working with them. |
| 0:29.8 | When people say, you know, why aren't you investing? |
| 0:32.9 | Why don't you invest in California? |
| 0:35.8 | The reason is because of what you just said. |
| 0:38.2 | I don't understand it. |
| 0:40.1 | And although I see the magnitude, I see the potential, I see the money that's made right |
| 0:45.6 | in California, I also am so self-aware that saying I grew up in an area that the process |
| 0:51.7 | and the political, it's so different that I would be not only at a disadvantage, |
| 0:56.2 | I would actually probably get in trouble. |
| 0:59.2 | Hey guys, what is going on? |
| 1:00.3 | My name is Yen and welcome to self-storage income. |
| 1:03.5 | Today we have a special guest here on the podcast, Ryan Lorenzini, him and his dad help run |
| 1:09.5 | the Claremont companies, which is a family business |
| 1:12.6 | specializing in real estate development and building, and they have been building and developing |
| 1:17.6 | self-storage facilities for the last 10 years. So Ryan has some fantastic insights into the world |
| 1:24.6 | of development in self-storage. |
| 1:33.5 | It was so great to have Ryan here in our studio, and the conversation was just so good, guys. |
... |
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