276. Major Changes Coming for the Self Storage Industry? | Christmas Q&A!
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 24 December 2024
⏱️ 55 minutes
🧾️ Download transcript
Summary
The self storage industry is about to see a major shift in 2025. If you’ve been sitting on the sidelines or waiting out market turbulence, now’s the time to get in the game. We’re entering a new cycle with plenty of opportunities for new investors, but if you blink, you’ll miss out!
In today’s episode, AJ and Conner are reflecting on 2024 and offering a high-level view of what’s to come in 2025. Along the way, we’ll be answering your questions! Tune in to learn how YOU can take advantage of huge investing opportunities in the coming year. We cover some of the best ways to find and fund self storage deals, where to find your “boots on the ground” when investing remotely, how to leverage your retirement accounts to invest, and much more.
Want to know how to analyze a new market and where to set rent rates? We’ll show you how! But that’s not all. We’ll also share the tools, software, and systems WE use to manage our investments and keep our facilities secure. Worried that your customers will get left behind as you implement new technology? Not to fear—use our strategy to bring them along!
What you’ll learn in today’s show:
- Our forecast for the self storage industry in 2025 and beyond
- Creative ways to find (and fund) your next self storage deal
- How to seamlessly transition your customers over to new technology
- Why “quality” trumps “quantity” when it comes to self storage leads
- The BEST camera systems and software to implement at your facility
- The ideal unit vacancy rate for any facility (and when to raise rates!)
- Leveraging your retirement accounts to invest in self storage
Live Oak Bank: https://www.liveoakbank.com/business-loans/self-storage/
Hummingbird: https://www.tenantinc.com/products/hummingbird
UniFi: https://ui.com/camera-security
Radius: https://www.radiusplus.com/
ESRI: https://www.esri.com/
📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/
Transcript
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| 0:00.0 | It's not like single family homes where you need a massive portfolio. |
| 0:03.2 | That's not how it works, right? |
| 0:04.9 | One or two could be life-changing, literally. |
| 0:08.3 | So we're on the term right now. |
| 0:10.1 | 25 is now from a stabilization going up, and 26 is going to get really good. |
| 0:15.1 | And from there, it'll be in a new cycle. |
| 0:27.1 | Welcome everybody to self-storage income and Merry Christmas. |
| 0:28.3 | Happy New Year. |
| 0:31.6 | Happy Hanukkah and everything else and in between. |
| 0:34.9 | I hope everybody's having amazing holidays right now. |
| 0:35.7 | How you doing, Connor? |
| 0:36.8 | Doing fantastic, man. |
| 0:37.4 | Yeah, likewise. It's an amazing time of year. Hopefully everybody's out Connor? Doing fantastic, man. Yeah, likewise. |
| 0:42.1 | It's an amazing time a year. Hopefully everybody's out, spending time with family, soaking things up, |
| 0:47.1 | having a good time, enjoying life, all the things. It's an amazing time a year to sit back, |
| 0:52.4 | reflect. I know a lot of people are planning for 2025. We're no different. We're looking forward to the future, seeing what we're going to do. |
| 1:03.6 | And today we've got a special episode of the podcast to actually dive in and help answer a lot of these questions for people starting out, wanting to get clarity on things. |
| 1:11.6 | And hopefully this really helps set the tone for everybody for their, you know, New Year's resolutions, their goals for 2025, gives you the answers you're looking for. |
| 1:18.1 | Giving a gift to you guys. We're the Santa Claus of Stealth Storage passing out presence of knowledge. |
| 1:24.5 | And so we have your list right here. We've been looking over your, what Connor's been looking over the list, seeing who's not of your nice. I got it. And seeing what you guys want. |
| 1:28.9 | And we want to make sure that you guys remember, first of all, you know, how grateful we are for all the listeners. |
| 1:38.3 | I mean, been doing this podcast now for a long time. |
... |
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