COVID 19 and How It’s Affecting Self Storage
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 3 August 2020
⏱️ 31 minutes
🧾️ Download transcript
Summary
What’s going on everybody!? AJ here with another episode of your favorite self storage podcast - Self Storage Income. Today I wanted to dive into what we’re seeing and experiencing in the self storage industry with the looming COVID 19 pandemic overhead. We’ve had a lot of you sending in questions wondering how this virus has affected our operations, our returns, and our expectations of self storage performance in the future. I share some in depth insights into what we’re seeing currently at our numerous storage facilities across the US. One reminder however - every city, county, state, etc has been approaching COVID 19 differently and as to be expected, their guidelines have also been different. Being such a dynamic event, it’s been quite the undertaking for business owners and investors to keep up with the rapid changes going on in each respective area. We go over how we’ve been approaching rate increases, our strategy moving forward to realize the best returns possible with the large amounts of risk now at play. I also share how we’re looking at each individual facility and market we’re in to help further analyze how we can implement planned rate increases. If I could leave you with anything here - don’t get caught up in all the doom and gloom. These past several weeks we’ve had more good deals come across our table than the entire year prior. Remember, good deals are always good deals and bad deals are always bad deals. Find the good deals, execute, and crush your self storage goals. Thanks for listening everybody! AJ Pick up a copy of my book An Investor’s Guide to Growing Wealth in Self Storage here: https://selfstorageincome.com/book/ Be sure to go to Selfstorageincome.com to get your free 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 contact a current owner, and ultimately how to land a storage facility deal. You can also find the Self Storage Income Podcast on: iTunes Spotify Stitcher The Self Storage Income Podcast is Sponsored by Janus International - https://www.janusintl.com/
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. |
| 0:11.0 | What's it secret? |
| 0:12.0 | I'm A.J. Osborne and with over a million square feet that we have built, acquired, expanded, and even converted big box stores from small third-tier markets to large |
| 0:23.0 | hundred plus thousand square foot facilities we have seen it all this is the |
| 0:27.5 | podcast that we're going to discuss and bring on the best investors and operators |
| 0:32.2 | in the nation to show you how to create wealth and income with self-storage. Welcome to self-storage income. |
| 0:50.3 | Welcome everybody to self-storage income, the wonderful, amazing self-storage podcast that we get to geek out on investing in self-storage. |
| 1:02.2 | My favorite thing in the world. |
| 1:04.7 | And before we get started, as always, we got Connor here with us. |
| 1:09.1 | How's it going, guys? |
| 1:10.3 | And I kind of wanted to hit on a few things. |
| 1:12.6 | First of all, thank you guys so much for all your support with the podcast, the book. |
| 1:17.5 | We really do try to put out as much content as we can. |
| 1:21.4 | And we try to make sure that it's good. |
| 1:23.1 | We spend a lot of time and money to do this. |
| 1:25.7 | So when you guys, you know, give us a five-star review |
| 1:29.3 | and stuff, that makes a difference on the algorithm that all these social media companies use, |
| 1:34.5 | that Google uses, when you guys give us a great review on the book, those kind of things |
| 1:39.1 | really do help us. So we appreciate it. And if you guys, if you get value of this and share it on social |
| 1:46.5 | media, we try to share everything back. We love that kind of support. My preferred means is |
| 1:53.0 | Instagram because that's what I'm always on. But also there's Facebook and all those other ones. |
| 1:58.4 | So and also too, if you're not, if you follow me on Instagram, |
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