208. Self Storage is not an investment, it's a Business
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 23 August 2023
⏱️ 47 minutes
🧾️ Download transcript
Summary
How do you grow wealth in self storage?
Today, we're going BACK TO BASICS, specifically: how storage is NOT an investment, it's a business. It should be treated as such.
What? What does that mean? It all distills down to this: operational improvements.
It worked for our first few facilities, and we use this model in our company to this day.
Customers deserve a good experience when they walk into a facility. They deserve a clean space and a friendly face.
As an operator, this massively increases the revenue and value of your property. We break down how in this episode of the Self Storage Income Podcast.
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Transcript
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| 0:00.0 | When it comes to building or designing a self-storage facility, it is so important to have |
| 0:10.1 | the best experts in your corner that know and truly understand the self-storage asset class. |
| 0:16.8 | You don't want to be making mistakes. |
| 0:18.5 | You don't want to have the wrong people in your corner at the beginning. |
| 0:21.3 | You want to have all the right people. |
| 0:23.6 | And that's why we brought an in-house architect into Cedar Creek Capital to help you guys better design your facilities right from the get-go to optimize that square footage. |
| 0:33.3 | And therefore, that revenue right from the beginning. |
| 0:36.4 | Follow the link below in the show notes, get in touch with us, |
| 0:38.7 | and our in-house architect can start working with you today. |
| 0:42.1 | Welcome everybody to the Self Storage Income Podcast. |
| 0:46.0 | And today we are starting from like foundational stuff that is foundational, but it actually grows and can get a lot more complex |
| 0:58.2 | and complicated. But this is a great topic because it is at the core of our business strategy. |
| 1:06.5 | And in fact, it was what a long time ago, I think I started talking about. |
| 1:13.8 | I started speaking on a long time ago. |
| 1:15.4 | It was kind of where I'm more made a name for myself than self-storage. |
| 1:18.5 | And that was the fact that self-storage is not a real estate investment. |
| 1:23.8 | It is a business. |
| 1:25.5 | And that's how we treated it. And now that is much more commonly accepted, |
| 1:31.8 | especially after the book, growing or creating wealth and self-storage. And we, that was the whole |
| 1:37.7 | entire premise of the book, right? The whole, and I think that's why the book did so well. And I was |
| 1:43.1 | shocked by it was it, it came out and I really had, when the book did so well, and I was shocked by it, was it came out and |
| 1:46.1 | it really had, when I started talking about this, like on stage and everything, I got a lot |
... |
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