The End Of Self Storage

Self Storage Income

AJ Osborne

Entrepreneurship, Education, Investing, Business, How To

4.9 • 591 Ratings

🗓️ 6 December 2021

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome back everybody to the Self Storage Income Podcast! I’m your host AJ Osborne! That’s right… today we’re talking about the end of self storage… or what could be the end. This all boils down to the very real threats that face the industry. What are those threats and how do we manage them to help ensure the health of great self storage markets for years to come? Because trust me, we can’t fall victim to believing all the hype around self storage. Self storage is NOT recession proof. Self storage is NOT a ‘build it and they will come’ asset. Self storage has weaknesses and faces very real threats and that is never going to change. We also have to understand that there are very different threats and risks at play. I like to separate these risks into two categories - Macro (what I can’t control), and Micro (What I can control). In today’s episode I go through the various macro and micro risks associated with self storage. I also share what I believe to be one of the largest single threats to the self storage industry. Outside of that we talk all kinds of juicy details to help you understand in depth the risks of self storage and an overall industry big big picture that you should be looking at when considering self storage investing or if you’re adding to your self storage portfolio. Thanks everybody, AJ 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 Tenant Inc. - https://www.tenantinc.com/ Cedar Creek Wealth: https://cedarcreekwealth.com/

Transcript

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0:00.0	Welcome back, everybody, to the Self-Storage Income Podcast. We have another incredible episode lined up for you today. But before we get into that, huge shout out to all of our amazing sponsors, Janice International, Store Local, Live Oak Bank, and Tenant, Inc. Be sure to check out the links in the show notes. You guys probably hear us talking about these guys on the podcast all the time. Janice International, tons of amazing people, tons of amazing products, services,
0:25.6	their no-key service, there are three programs, all these different aspects to help you build
0:29.7	an amazing storage facility or upgrade your storage facility. Just a fantastic group. Store
0:35.6	local. It's honestly one of the biggest threats to self-storage
0:39.3	is market consolidation and everything that goes along with that so enter store local the
0:45.5	largest storage co-op in the world just amazing people again tons of tons of awesome people there
0:51.6	and amazing solutions to bring everybody's resources together
0:55.1	and utilize those in an effective way to be able to compete and also thrive in a world of
1:01.6	competition with some of these larger reits and the big players in the self-storage industry.
1:06.5	Check out store local, amazing, amazing opportunities there.
1:09.7	Live Oak Bank. I don't know how many of you guys
1:11.5	came to our live event in Coral Lane just this past year, but we had some amazing conversations
1:17.4	with Live Oak Bank there, and they were probably one of the most popular topics there in our
1:23.1	breakout sessions, and people want to know. They want to know the financing. You guys want to know
1:27.4	what the solutions are, what the deals look like, all these different aspects to financing.
1:32.4	Live Oak Bank is that answer specifically for self-storage. They specialize in storage, which is just
1:37.4	incredible. There's no learning curve for them to understand the asset. They know it. They've been
1:42.6	there before. And they can help you see things
1:44.5	that you might not even be seeing yourself. So Live Oak Bank, amazing. Check the link in the show
1:48.9	notes. And last but not least, Tenant Inc. Tenant Inc. is an incredible slew of products and
1:56.3	services, essentially, for your storage facilities to help automate, to help streamline, to help optimize
2:03.6	your business and your storage facility. They've got their hummingbird platform, nectar platform,
	...

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