Building a Self Storage Empire and the Process of Scaling [Our 3 Keys]
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 20 April 2021
⏱️ 54 minutes
🧾️ Download transcript
Summary
Welcome back everybody to the Self Storage Income Podcast! This is your host AJ Osborne!
Some of us simply want to buy and run a few self storage facilities that will allow us more freedom over our finances and our lives, and that’s fantastic. Some of us however, want to build empires, and that’s exactly what we’re going to focus on in today’s podcast.
Whether we have a facility under our belts or we’re just starting out, if we want to build self storage empires, we have to think and execute in a totally different way. We need a goal and a master plan to help us achieve it. But where do you start? How do go about planning to build a self storage investment empire? What processes, tools, and infrastructure will you need?
These are all great questions and ones that YOU will have to answer for yourself. Investment goals and expertise is different for everyone. The investment vehicles and paths that investors take is equally different and dynamic. But there are a few fundamental principles that will help you build an incredible self storage portfolio.
I’m going to share with you guys today our 3 Keys to Scaling. That’s right, just 3. Obviously, there is a lot of work to be done when building an investment empire. But building out your goal, having a plan to get there, and then executing on that plan will put you light years ahead of everyone else.
This episode is really exciting to share with you all because over the past year and a half, my company and my team has grown substantially and it’s not slowing down any time soon. We’ve had the growing pains, we’ve experienced (and are still experiencing) our gaps and the holes we need to plug in our systems, and of course, we’re still learning and adapting as we always will. It’s an awesome thing to be able to share with you a ground zero look into the self storage empire me and my team are building and how you too can start building your own self storage empire.
Thanks for listening everybody!
AJ
The Self Storage Income Exclusive Fall Event in Coeur d’Alene Idaho (GET YOUR SEATS RESERVED ASAP!) - https://selfstorageincome.com/events/
Be sure to go to Selfstorageincome.com to get your copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how to contact a current owner, and ultimately how to land a deal and purchase a storage facility.
You can also find the Self Storage Income Podcast on:
The Self Storage Income Podcast is Sponsored by:
Janus International - https://www.janusintl.com/
Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page
Live Oak Bank - liveoakbank.com/incomepodcast
Transcript
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| 0:00.0 | Looking to create wealth and income through high cash flowing real estate, self-storage is the fastest growing and the newest real estate asset that has outperformed all others. |
| 0:10.0 | What's it secret? |
| 0:11.0 | I'm A.J. Osborne and with over a million square feet that we have built, acquired, expanded, and even converted big box stores, |
| 0:19.0 | from small third-tier markets to large hundred plus thousand square foot facilities, we have seen it all. |
| 0:26.0 | This is the podcast that we're going to discuss and bring on the best investors and operators in the nation to show you how to create wealth and income with self storage. |
| 0:36.9 | Welcome to self-storage income. |
| 0:48.2 | Welcome everybody to self-storage income. And today is going to be fun at least for me because I get to talk |
| 0:58.2 | about like my favorite thing and that's building empires we talked about the last |
| 1:04.4 | podcast we talked about getting started like from scratch like you have no money |
| 1:09.7 | you're not sure how to go about it and today |
| 1:13.7 | we get to talk about building the empire like going the next level the stuff that like the dreaming stuff |
| 1:22.7 | right the stuff of oh man how am i going to scale and you know it just's always, always been the fun stuff for me. I've always just thought it's so cool and looking at the difference as opposed to just even getting one or two properties. But how did these people accrue these huge portfolios? Like, how did they do that, right? How did they get from a to b right it's just a |
| 1:45.9 | a b that's a really short distance but uh a to z is a little further wrong well you know you get |
| 1:52.0 | steps exactly you get to z by going to b exactly one at a time we're making a metaphor |
| 1:59.4 | lesson out of this here. |
| 2:01.9 | So after B a C. |
| 2:03.5 | Dude, that's deep. |
| 2:04.8 | That's deep. |
| 2:07.8 | But, you know, it, even at our stage where we're doing developments and acquisitions all over the state. We've got 13, 14, very large facilities. |
| 2:22.7 | We sold off all the smaller ones. |
| 2:25.2 | Our average is like 95,000 square feet now. |
| 2:27.6 | And I'm always even looking up at all these bigger players and there's lots of them and just thinking, man, like, okay, |
... |
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