Getting Started in Self Storage Investing with 2 Conversions with James Reid
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 20 July 2021
⏱️ 52 minutes
🧾️ Download transcript
Summary
Welcome back everybody to the Self Storage Income Podcast! I’m your host, AJ Osborne!
There are so many incredible stories out there of people who are getting their self-storage investing journey underway, and today I have a phenomenal episode lined up for you with self-storage investor James Reid.
James has been in the game for about 4 years, has two storage facilities under his belt, and is continuing to work on building his storage legacy. James started this journey in a somewhat unorthodox way through… these first two storage facilities he’s built and invested in are conversions! Yep, he went all-in from day one and it was awesome being able to sit down with him and discuss how he made all this happen.
James shares why and how he got into self-storage investing after coming from the landscaping contracting world, we go in-depth on his very first storage deal (and conversion), how he found the deal, analyzed it, funded it, and more. James also shares some incredibly creative ways that he’s been able to successfully market his storage facilities while also helping to build and maintain a great community in these markets that he’s in.
We cover it all today and I’m super excited to share this out with you guys.
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. |
| 0:25.7 | 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. |
| 0:48.3 | Welcome back, everybody, to the Self Storage Income podcast. This podcast is brought to you by Live Oak Bank and Janice International. |
| 0:56.0 | Live Oak Bank is a partner that we've chosen to have as our sponsor because of the incredible |
| 1:01.0 | work they do in the self-storage industry specifically. They know storage. Their teams are very |
| 1:07.6 | knowledgeable about the asset, the asset class, what you can and can't do, how things |
| 1:12.4 | are valued. Super, super important to have those kinds of partners on your side in Live Oak Bank |
| 1:17.7 | can be those partners for you guys. We've had an amazing feedback from so many people out there |
| 1:22.4 | that have reached out to Live Oak and have had amazing experiences with them as well, which is so |
| 1:26.9 | cool to hear. |
| 1:28.1 | And one of the reasons why we've specifically chosen them to be our sponsor on this podcast. |
| 1:33.3 | So link is in the show notes. |
| 1:35.2 | Go check out Live Oak Bank. |
| 1:37.0 | Get out them. |
| 1:37.8 | Get all your questions answered. |
| 1:39.1 | Figure out what direction you're going to go and get that financing and funding figured out. |
| 1:42.8 | Our next sponsor, Janice International, amazing solutions for you guys, whether you're building |
| 1:47.5 | a new facility or you're trying to upgrade an old facility. |
... |
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