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Self Storage Income

255. The Truth About Owning a Self Storage Facility…

Self Storage Income

AJ Osborne

How To, Investing, Business, Entrepreneurship, Education

4.9591 Ratings

🗓️ 30 July 2024

⏱️ 28 minutes

🧾️ Download transcript

Summary

Owning a storage facility is not for the faint of heart. Yeah, you’ve got the everyday headaches of late payments, locked-out customers, and the occasional pest problem, but that’s NOT what we’re talking about today. Conner is flying solo on today’s show to share some real footage of what’s (only recently) gone wrong at our facilities. And if you’re looking for your first self storage investment, you CAN’T miss this.

What happens when someone is living in a unit? Or, even better, what happens when they burn down your units while they’re living there? How about a trash pickup truck smashing through your front gate? Trailer theft? Tenant-on-tenant vehicular damage? We’ve got it all in today’s show and have the photos and videos to prove it!

Want to know what it’s REALLY like owning a storage facility? Then don’t miss this episode. Plus, if you’re a storage operator who wants to see how the biggest and best facilities take care of huge headaches like these, stick around for Connor’s tips toward the end! 

 

What you’ll learn in today’s show:

  • What owning a self storage facility is really like (and all the problems we deal with!)
  • Why you should ALWAYS tell your trash pickup service to WAIT for the gate to open
  • What to do when a tenant who’s (illegally) living in your facility burns their unit down
  • Why you NEED security cameras set up throughout your facility from the start  
  • Inspecting your units regularly and how this can save you massive amounts of time and headache 
  • The systems and processes to put in place NOW so you can deal with these incidents 
  • Why it’s all worth it, and self-storage is still one of the BEST assets to invest in!

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Transcript

Click on a timestamp to play from that location

0:00.0

This was literally January 1 at like 7 p.m. I'm getting a call. This January 1, 2024, getting a call 7 p.m. at

0:10.2

night like, hey, we got a fire at a facility. Wham. Just smashed that gate, hardcore as the gate was,

0:16.5

as they were trying to fit through the gate there. You know, you come in on a Wednesday morning.

0:20.8

You probably, you might run into a Wednesday morning. You probably,

0:21.5

you might run into something like this and you will run into something like this. At some point in time,

0:25.6

you're going to have people breaking into units, cutting into fences, running, ramming fences down,

0:32.1

all of these different things going on at your facilities. And you need to be able to be not only

0:37.3

prepared from a process

0:39.1

standpoint but mentally prepared to sit here and watch something like this happen at your facility.

0:49.3

What is going on everybody? Welcome to another podcast episode of the Self Storage Income podcast.

0:57.5

You got me, Connor, hanging out with you today.

0:59.7

AJ is off doing something epic somewhere.

1:02.0

I don't know.

1:02.5

Can't keep track of the guy.

1:03.5

We're going to put an Apple tracker on this dude one of these days.

1:06.7

But he's out there crushing it, as always, doing amazing.

1:09.6

But we wanted to make sure that we're

1:11.1

pumping out this content for you guys, that we're able to connect with you consistently. And so I am

1:16.4

here today running things solo, hanging out with you guys. And we're going to have a really

1:21.0

awesome episode today. We're going to talk a little bit about the horror stories of self-storage.

1:26.8

Obviously, a lot of times you hear about how amazing storage is and how easy or hands-off

1:31.3

or what a cash cow it is or all of these positive benefits and all of just the good, right?

...

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