How to Start Investing in Self Storage | Learning the Ropes with Pam Domingue

Self Storage Income

AJ Osborne

Entrepreneurship, Education, Investing, Business, How To

4.9 • 591 Ratings

🗓️ 15 June 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome back everybody to the Self Storage Income Podcast! This is your host, AJ Osborne!

I’m so excited today because we get to sit down with my great self-storage friend Pam Domingue. Pam owns and operates several self-storage facilities in California and even Hawaii! She has a ton of incredible experience, experiences that she’s sharing with us today.

Pam shares how she got into the self-storage industry and gives us an in-depth look into the very first facility purchase. This insight is key for so many of you out there that may be just starting out. She talks a lot about the resources and the tools she used to learn and to be able to transition into the self-storage investing world effectively.

We go on to talk about buying versus building and what Pam is looking at currently. We talk about the pros and cons of the self-storage industry as a whole and her suggestions for self-storage investing beginners. There’s also a huge question in all our minds as the self-storage industry continues to consolidate and continues to align more and more with technology and the expectations of today’s consumers - what does the future of self-storage look like?

Tune in, get ready to take some notes, and enjoy this behind-the-scenes look at the self-storage industry with one of the best.

Thanks everybody,

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:

iTunes

Spotify

Stitcher

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

Click on a timestamp to play from that location

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.
0:48.5	What's going on, everybody?
0:49.8	Welcome back to the Self Storage Income podcast.
0:52.3	We've got an incredible episode lined up for you today with Pam.
0:56.8	Tons of, tons of amazing information, great individual, so happy we finally got it on the podcast.
1:02.6	Really excited about it. First, before we jump into that, I want to give a huge shout out to our sponsors, Live Oak Bank and Janice International.
1:10.4	Live Oak Bank has got some incredible sbaa opportunities going on right now so right now it is may of 2021 almost june coming up on june here but uh between now and september 30th the sba waves are or s SBA fees, rather, are waived, which is huge.
1:31.1	This is a big deal, which is just, it's very, very cool.
1:35.0	All these little fees that just add up and can eat away at your resources.
1:39.1	Getting those fees down is huge.
1:41.0	The other huge thing going on is that between now and September, the SBA will make
1:48.5	six months of your P&I payments for you up to $9,000 per month. So that is a huge, huge incentive.
1:55.5	If you're looking to get started in self-storage, utilizing an SBA loan. Something to remember, though, here is that this is
2:02.2	on the funded portion only, obviously. So you're obviously only funding X percent. It's not on a
2:06.6	total amount for the facility, anything like that. But huge, huge incentive. There's been subsidies
2:12.1	and enhancements in the past with SBAs and things, but nothing like this. So go to the show notes.
2:17.8	Check out the link for Live Oak Bank.
	...

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