193. Remote-controlled Facilities, Spiraling Debt, & "Now is the Time to Develop" - w/ Mike Burnam
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 21 March 2023
⏱️ 52 minutes
🧾️ Download transcript
Summary
Welcome back everybody to Self Storage Income! Today we have an exciting guest, Mike Burnam, on to talk about the current state of self storage markets - particularly smaller, tertiary, and subprime markets - as the bubble created by the pandemic is starting to pop.
Mike is the CEO of StorageMart and has been in the industry for over 42 years, with over $4 billion worth of self storage. He has experience with being publicly traded then went private, and has operated in the US, Canada, and the UK.
So what's going on with storage? Debt is harsh, ChatGPT is disrupting Google's dominance, and large competitors, like Public Storage, is experimenting with more and more remote & digital solutions in their properties. ExtraSpaceStorage, just bought over $500 million to buy a portfolio of over 100 properties. These changes will determine the future of storage, especially impacting smaller markets in rural areas while high population areas approach these changes head-on. Find out more in this episode!
You can reach out to Mike directly via his email:
Find out more about StorageMart:
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
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Tenant Inc. - https://www.tenantinc.com/
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Transcript
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| 0:00.0 | Hey guys, what is going on? |
| 0:01.7 | My name is Yen, and welcome back to the self-storage income podcast. |
| 0:05.5 | Today we have a very special guest for you guys. |
| 0:08.2 | I am so excited about this episode. |
| 0:10.1 | We have the legendary Mike Burnham with us today. |
| 0:13.5 | He's been in the self-storage industry for over 42 years. |
| 0:17.0 | He's the CEO of Storage Mart and has handled over $4 billion in self-storage asset transactions. |
| 0:25.4 | This man is an absolute legend. |
| 0:27.3 | I'm so excited to have him on today. |
| 0:29.0 | So without further ado, let's go ahead and jump right in. No matter what business or industry you're in, you're going to want a competitive advantage over your competition, right? |
| 0:48.3 | You're going to want that ability to outperform and out maneuver and out value that competition. |
| 0:55.0 | Janice International provides you the tools to be able to do that, whether that's there |
| 0:58.8 | are three programs to help increase the look and feel of your storage facility through |
| 1:03.2 | new doors or siding or roofing or gating or whatever that is or a technology solution |
| 1:08.8 | like their no key solution that allows people to rent |
| 1:11.8 | units to access units to do all of this without ever going in the office be sure |
| 1:16.5 | to check out Janice International link is in the show notes welcome everybody to |
| 1:21.5 | self-storage income and today we have an incredible podcast with Mike Burnham. |
| 1:28.5 | And I'm going to introduce him here real quick, but you have probably all heard of storage |
| 1:33.4 | marked. |
| 1:34.1 | They're obviously legendary in our industry. |
| 1:37.8 | And this is very exciting. |
... |
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