243. How to Start a Storage Business for Little or No Money
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 7 May 2024
⏱️ 33 minutes
🧾️ Download transcript
Summary
Wondering how to start a storage business with no money? Surprisingly, most self storage investors start out with no or low-money-down deals. Even the wealthiest of storage investors rarely pay for a property in cash or use their own money to make the down payment.
Self storage DOESN’T require you to have millions and millions of dollars to get started, and in this episode, we’re showing you exactly how to build your self storage portfolio when starting from ZERO.
There are a few strategies you’ll need to know before you can buy your first zero-dollars-down storage facility. If you’re able to master these, you can easily pick up a storage facility for very little money down or sometimes zero dollars out of pocket. Want to use other people’s money to pay for your deals? AJ and Conner go over the two parts of raising money and how to raise capital once you’ve got a deal in hand.
Do NOT let this tough market go to waste. Now is one of the EASIEST times to get no and low money down self storage investments done! So tune in, and get ready to execute (even if you’ve got NO money!).
What you’ll learn in today’s show:
- How to start a storage business with no money or very little money out of pocket
- Why now may be one of the BEST times to get seller financing on a storage facility
- The exact strategy AJ used to go from no facilities to hundreds of millions in self storage
- Beginner steps we would take in 2024 to get our first storage facility deal done
- Raising capital for your deals and how to get investors to put up the down payment
- Why you should always look for the deal first BEFORE you worry about the money
What we mentioned:
Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/
Check out Storelocal! Our national self storage brand.
Ready to buy storage? Have your deals personally evaluated by AJ and our team!
https://www.selfstorageincome.com/feasibility
Take advantage of today’s market conditions and invest with us:
Transcript
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| 0:00.0 | What's up everybody and welcome to self-storage income. |
| 0:03.0 | And today we're talking about money problems. |
| 0:06.0 | How to invest in storage with little to no money. |
| 0:10.0 | This is an actual common problem that I think, of course, people like, yeah, that's gone. |
| 0:16.0 | But it's also non-ended. |
| 0:19.0 | I mean, it never really ends. |
| 0:20.0 | And we're going to get into talk about this and why. |
| 0:22.6 | And it's part of investing. But there's actual strategies that we can use, how to get into this asset class, how to buy, and how to scale with little or no money. |
| 0:44.1 | This is actually the one of the perfect times that we've seen to do this so it's a perfect topic for today because the strategies that you can do |
| 0:49.4 | this work really really well and this economy and in this environment |
| 0:53.9 | no exactly right. |
| 0:55.0 | I was going to mention that where this really isn't just a, well, I don't have any money |
| 1:00.0 | I have to invest this way. |
| 1:01.0 | I mean, this could be your investment strategy. |
| 1:04.0 | I mean, there's firms out there that are doing this exact thing and that's their strategy as a whole. |
| 1:09.0 | They go out, they put together deals without |
| 1:11.3 | putting any of their own money into it. There's so many ways to structure it. So I'm excited to dive in. It's obviously one of those big things we talk about in all of this process, right? And we've had a few podcasts coming out on how to find the deals, how to analyze the markets, all of those different things, how to run them operationally. And now it's, okay, we've got a |
| 1:28.8 | facility, you know, we want to get it done. Obviously, we've done our third party reports. We've |
| 1:33.7 | got all these things. We've got all the process from start to finish. How do we actually execute |
| 1:38.2 | with the money piece? Because that's not going to go away. Nope. And that's the key right there. |
| 1:43.6 | Like, it's not going to go away. Also. And that's the key right there. Like it's not going to go away. |
| 1:45.0 | Also, it's not a simple strategy. |
... |
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