252. How to Find Off-Market Self Storage For Sale + Getting Your Down Payment (FAQs)
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 9 July 2024
⏱️ 38 minutes
🧾️ Download transcript
Summary
Looking for off-market self storage for sale? Wondering how to get around the high down payment self storage investing requires? How do you measure demand for an area you’ve never invested in? Today, AJ and Conner are answering some of the most commonly asked self storage investing questions so you can get your first or next facility even faster. Think of this as a “Self Storage Investing for Beginners” FAQ session as we get into the nitty-gritty of finding deals, measuring demand, raising down payments, increasing revenue, and more!
If you’re still searching for your first facility, worry not. AJ details the exact method he used to get his first small off-market self storage facilities and how to get an owner to ask YOU to buy the property from them. We’ll also get into measuring demand and whether you should use software or go “secret shopping.” Will a ten-percent down loan pencil out for your next facility? And speaking of down payments, how do you raise the six-figure sum you’ll most likely need to buy your first self storage investment?
We’re answering all those questions and a whole lot more in this episode!
What you’ll learn in today’s show:
- How to find small, off-market self storage facilities in your area (and get owners to sell to you!)
- Measuring demand BEFORE you buy a facility and how we know a market is worth it
- Whether an SBA ten-percent down loan is worth it (and if you can even use one)
- Why you DON’T need to wait to save up a down payment to invest in self stoarge
- Exactly what we do within the first thirty days of owning a facility to increase its value
- Signs that a facility has poor management and could have significant value-add potential
- Raising revenues on your first or next facility through smart asset management
- Self storage smart locks and how they’ve been working at even our biggest facilities
—
Growing Wealth in Self-Storage 2.0
Episode 250. The Self Storage Industry is Starting to “Thaw” (Take Advantage Now!)
How to Find Off-Market Self Storage Deals in ANY Market
My Most Profitable Self Storage Investing Strategy (with numbers)
Transcript
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| 0:00.0 | I don't want to ask for them to sell their facility. I want them to ask me to buy their facility. |
| 0:06.4 | That's a simple way of looking at it and how I approach the conversation. |
| 0:09.6 | That's one of the major ways that a lot of individuals get around the down payment. |
| 0:14.1 | And including us, we'll buy it and we won't put nearly as much down. |
| 0:17.7 | It'll dramatically shrink what we have to put down into a deal. |
| 0:27.4 | Welcome everybody to self-storage income. And we have a episode today brought by you guys. That's right. |
| 0:36.9 | So we do this about, I don't know, once a month. |
| 0:40.5 | Yeah, yeah. Periodically. |
| 0:42.0 | Periodically, we do this. We want to answer you guys as direct questions. It's a way to make |
| 0:46.1 | sure that we can hit on the things that you guys are actually concerned about, worried about, |
| 0:50.7 | or that you want to know. So you can do this by if you're watching on our |
| 0:56.1 | YouTube channel, jump in and ask the questions right below. We accumulate the questions and we put |
| 1:02.0 | them all together so we can answer them here. If you guys are listening on, well, anywhere you |
| 1:07.9 | listen to this podcast on, you can go ahead and just click the link, |
| 1:12.6 | go to our site, and email a bunch of questions for us, and we will put them on the list. |
| 1:18.7 | So hopefully we get to your guys' questions and we hit as many as we can. |
| 1:22.9 | But Connor, let's knock them out. |
| 1:25.4 | Let's do this. |
| 1:26.5 | All right. |
| 1:26.9 | So a lot of our podcast lately, we've been talking about how to start out, right? |
| 1:31.3 | Right. |
| 1:32.3 | Where you guys started back in the day, what your story was, all those things. |
... |
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