Our Latest Kansas City Deal - Re-cap and Update

Self Storage Income

AJ Osborne

Entrepreneurship, Education, Investing, Business, How To

4.9 • 591 Ratings

🗓️ 25 August 2020

⏱️ 39 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 just got back from a trip to Kansas City where we’re working on closing our latest acquisition and I have to tell you… I haven’t been this excited about a purchase in a long time and today I’m going to tell you exactly why. This facility is the exact type of facility that we look for and has every piece of criteria that tells us this is a great deal: - We have high demand in the market - The facility is poorly ran/managed - The facility rates are lower than current market rates - Very little revenue management - Very little online presence - No ancillary streams of income - Off market deal - The list goes on and on If you’ve listened to this podcast for any period of time you know that these factors immediately signal that there could be very real and massive value left on the table to extract. The only thing now is to move and execute. To do this, we need to have our plan and our team in place. As a bonus, we also dive into this aspect as well and provide some incredible insights into what you need to be doing to build your team and resources as you move to acquire your new facility. As always guys, take notes, soak all of this up, and start using it to help you secure more awesome storage deals and to continue expanding your storage empire. Thanks for listening everybody, AJ

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.
0:38.9	Welcome everybody to Self Storage Income. Self Storage Income podcast, the place where we nerd out about self storage. And yes, I do actually love this financial vehicle. I love so storage. It's great. I totally nerd out about it. It's fun. And I was reminded that at our latest acquisition in Kansas City and so me and
1:14.3	Connor were talking today and we're like we need to give a recap I just got back if you
1:18.0	guys follow me on Instagram I put videos things I'm I try to get better on that I'm I'm no I'm
1:22.9	not very good at social media I'm working out of people I want to show you guys what's
1:26.0	don't discredit yourself you're you're a total influencer I'm a total influencer. I have some great glamour shots by Deb
1:32.3	and put those up. We did put some stuff on our conversion for the statesman too. I put some
1:40.3	stuff up on there. Yeah. When I get done with this podcast, I'm going to go straight in and I'm going to put one on our new plans and show because it's just crazy.
1:47.6	I was with the engineers on, oh, when was it?
1:51.4	Last week, it was the day I left.
1:53.5	So it had to be Thursday, Thursday, Thursday.
1:55.8	Yep, Thursday morning.
1:57.1	And we had great news that came out from, from that project.
2:01.7	And how we could shell it out and the flow and everything going.
2:05.1	And that was really good because we had some concerns on that conversion, like asbestos and what walls could be taken out or not and access points.
2:12.0	And then what the city would have to approve.
2:14.2	Because as it sits now and it's zoning, we can essentially, we don't
	...

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