212. The Most Important Episode of Self Storage Income
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 22 September 2023
⏱️ 36 minutes
🧾️ Download transcript
Summary
The possibility of regulating self-storage rates has loomed on the horizon, and it may be closer to becoming a reality than we anticipated. I'm here to break it down for you, why it's a problem, why there is a discussion about doing it at all, and why the whole situation isn't as straightforward as it seems. Trust me, there are some surprising reasons behind all this, and we're in for some major changes!
Stick around as we dive into the issue and find out why the self-storage industry is being shaken up.
"Self Storage’s Biggest Threat is Getting Worse" https://www.youtube.com/watch?v=Xd-eCkvSXPE
"The Self Storage Bubble is About to Pop" https://www.youtube.com/watch?v=Sm0pZsLkxoo&t=0s
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Transcript
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| 0:00.0 | What's up, everybody? This is a special and very important podcast I'm doing today. We've been |
| 0:06.1 | talking about some things going on for quite a while in the self-storage industry. And this is one of |
| 0:12.2 | the most impactful thing, frankly, in, I think, storage history, but one of the most important |
| 0:19.0 | things when it comes to regulation. And we have a lot of risk in the market |
| 0:23.5 | today. And that risk is being driven by potential regulation that I've been concerned about. And I know I've |
| 0:31.4 | been talking to you about this for a while and probably heard bits and pieces of it, but a lot of people |
| 0:36.8 | do not understand why. |
| 0:38.7 | More importantly, they don't understand what's going on, including the people that are talking |
| 0:42.1 | about regulation. And so today, I'm going to cover exactly what's happening, why this has become |
| 0:50.4 | an issue and a problem. But that's going to explain a lot more things like rate drops. |
| 0:56.0 | You're going to understand what's going on in certain markets with storage and supply demand |
| 1:02.4 | and why in a market that has 90% occupancy, we saw a 60% rate drop. There's a lot of numbers |
| 1:10.1 | that may be associated with this that I'm not showing on |
| 1:12.7 | the podcast or in this video here. But luckily, I did a full-length YouTube video where I actually |
| 1:18.2 | walk through and benchmark markets and I compare them to other points in real estate cycles. |
| 1:24.4 | This is really important to understand. First of all, if you want to be in storage, |
| 1:28.8 | if you're going to be an operator, an owner, or if you care, if you already are an owner and you |
| 1:34.8 | care about the future of the industry. Most importantly, to get you involved. I'm not going to |
| 1:39.7 | lie, I want you to be involved because we are the ones that will talk to regulators and help them |
| 1:46.5 | understand what's going on. |
| 1:48.6 | Now, there's a lot of ways we can look at this and a lot of people I think may try to place |
| 1:55.9 | blame on some of the things that are going on. |
... |
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