188. The Problem with Debt | Lending and Financing in Self Storage w/ Ben Benditson

Self Storage Income

AJ Osborne

Entrepreneurship, Education, Investing, Business, How To

4.9 • 591 Ratings

🗓️ 11 January 2023

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Once you've figured out which market to go in and what price you should pay, the next step is to secure the funding and financing for your deal.

Lending is a tricky business - there are numerous types of loans and fund structures each with their unique benefits, regulations, and interest rates. Each of these factors will directly affect how your deal functions now and years into the future.

Today we are talking to Ben Benditson, our newest addition to the Cedar Creek team. He's a broker who has helped us fund numerous deals that we now own. We're going through the Pros and Cons of different types of funding for Self Storage (and commercial real estate at large) and what to look for and avoid when you are raising capital.

Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here:

https://www.cedarcreekwealth.com/debt

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	Hey everybody, Connor and I work really hard to try to bring the best podcast in cell storage that we can.
0:07.5	We ask a lot of guests. We do a lot of research and a lot of work goes into it.
0:13.0	If you could help us out by leaving a review, it's so easy.
0:17.7	You just go down on whatever device, Apple whatever you're using leave a great
0:24.3	review it really helps us out thanks everybody welcome to self storage income everybody and we are
0:35.9	in to 20 23 i think that's the correct year. I think we're in
0:41.1	2023. And, um, you know, this has been a wild six months as things are changing. And 2023, in my
0:49.1	opinion, is going to be the year of debt. Meaning that is going to be the principal thing that storage owners
0:58.7	storage operators people that are buying getting into it this is going to be the primary topic
1:05.8	for all of 2023 because it is so different the landscape is so different from the last 10 years so with that
1:15.6	i was i was like you know what it's really important we start this year off right and right with
1:20.7	the major issues so i've got my friend and colleague with me ben Ben, and to give you some background, Ben has been
1:31.2	our broker on our debt for a long time. We've done lots of transactions, very large transactions,
1:39.3	and he has a very interesting insight into those capital markets specifically with storage and so we're
1:47.8	going to talk with him we're going to talk about a lot of cool things coming up and what you need to know
1:51.8	and to expect so with that ben welcome thanks a jay happy to be here i'm i mean you're in the office i you know
2:00.7	i tell people all the time.
2:02.1	It's one thing when we have guests and we do it on Zoom, right? But when you have somebody in with us doing the podcast, it's just like way more natural.
2:14.0	Yeah, yeah, for sure. We don't have to, you think of it. It's not this weird delay.
2:18.3	It's just like, we're just here talking. Exactly. No, it's, it's, I'm so happy to be here. It's great. It's always great to see you. And, no, I'm just excited to chat. And yeah, this is going to definitely be an interesting year. You know, we've known each other now for a long time.
2:35.3	We've seen a lot going on in the market.
2:37.7	Huge... Yeah, this is going to definitely be an interesting year. You know, we've known each other now for a long time.
	...

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