187. Don’t OVERPAY for Self Storage | The Art of Valuation
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 4 January 2023
⏱️ 31 minutes
🧾️ Download transcript
Summary
Valuation is a key step in buying a self storage facility. You need to know how much it costs, after all.
Price is a measurement of value. But in commercial real estate, value is not determined only by the price. You also need to look at things like revenue, growth, expenditures, and operations. It’s not just a single line item. Not anymore.
As an investor, what are those drivers that determine the total cost?
As a seller, what factors in the market affect your property right now?
That and more in this episode!
Our partners:
Live Oak Bank - liveoakbank.com/incomepodcast
Tenant Inc. - https://www.tenantinc.com/
Janus International - https://www.janusintl.com/
Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook
Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/
Transcript
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| 0:00.0 | You know, how do you make sure you're not overpaying and how do you really truly value the |
| 0:05.1 | business versus the real estate and all these questions that we always always get? |
| 0:09.5 | Understanding what are those drivers evaluations for you and anybody in the marketplace and |
| 0:15.9 | how the marketplace is digesting in real time? That's why valuations can change so quickly. And some people |
| 0:24.7 | are either caught behind. They don't understand it. Then they get scared. And it's like, |
| 0:29.6 | we really want to understand these drivers. What's going on, everybody? Connor here from the |
| 0:35.0 | Self Storage Income podcast. This podcast is being brought to you guys by Live Oak Bank, Tenant Inc. |
| 0:41.0 | And Janus International. |
| 0:47.6 | One of the best ways to optimize management and to increase the value of your self-storage facility is through property management. |
| 0:55.7 | And that means you're going to need really good property management software. |
| 0:59.6 | That's where Tenet Inc. comes in. |
| 1:01.2 | These guys have a huge amount of tools at your fingertips that you guys can deploy and put into motion |
| 1:06.9 | to extract the maximum amount of value and deploy the maximum amount of value at your |
| 1:12.5 | storage facility. Again, this is tenant ink. Be sure to check them out. They're all things |
| 1:16.7 | property management. It's truly your one-stop shop. Check them out. Link is in the show notes. |
| 1:22.2 | Welcome back, everybody, to self-storage income. And Connor, how you don't know? |
| 1:26.8 | Doing awesome, dude. Doing awesome. We're right now kind of in the holiday season of 2020. everybody to self-storage income and Connor how you don't know doing awesome dude doing |
| 1:27.9 | awesome we're right now kind of in the holiday season of uh 2022 everything's kind of |
| 1:33.0 | slowing down a little bit and uh more than one way but dude we're full steam ahead man we got a lot |
| 1:38.0 | of good plans going on and uh just excited excited as always just as we continue to just start |
| 1:43.9 | you know steamrolling this locomotive we've been building for a while, is really chugging along. And a lot of opportunity coming down the line that we're going to be ready to take advantage of, man. |
| 1:54.0 | You know, I think this episode in particular probably won't even come out until second week of January. Yeah, maybe. Yeah. It's going to be |
... |
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