The Truth About Debt - How Debt Can Make or Break You
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 19 August 2021
⏱️ 64 minutes
🧾️ Download transcript
Summary
Welcome back everybody to the Self Storage Income Podcast! I’m your host AJ Osborne!
Debt - there are very few subjects that have gotten as bad a wrap as debt has. Don’t get me wrong, debt when you don’t understand it… can be downright deadly. But debt used as a rocket fuel for generating wealth and income… that’s when debt becomes a massive force of leverage.
But how? How can taking on debt ever be a good thing? Isn’t buying all cash a better way to go? Isn’t paying off a loan as quickly as possible the best course of action? Yes and no, just like the above gives hint to - it depends on what kind of debt we’re talking about.
Let’s clear this up once and for all - not all debt is BAD and not all debt is created equal. We have two kinds of debt - consumer debt (which is generally bad and that you should try to avoid). And then we have revenue producing debt (which is the sweet nectar of the gods for investors).
This is just the tip of the iceberg and I couldn’t be more excited to help shed some light on this subject because I see it and hear it every single day. I hope this helps you more fully understand the different types of debt, when you should and SHOULDN’T be afraid of debt, and when you can use it effectively to help grow your wealth.
Outside of that, I give a bit of economic back story in regard to capital, the different types of markets, economic cycles, and more to really take a deep dive on the subject.
Enjoy everybody and we’ll catch you next time!
AJ
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The Self Storage Income Podcast is Sponsored by:
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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. |
| 0:26.0 | 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. |
| 0:52.4 | Welcome back, everybody, to the Self Storage Income. This podcast is brought to you by Live Oak Bank and Janice International. |
| 0:58.0 | Live Oak Bank is a partner that we've chosen to have as our sponsor because of the incredible work they do in the self-storage industry specifically. |
| 1:06.4 | They know storage. |
| 1:08.0 | Their teams are very knowledgeable about the asset, the asset class, what you can and |
| 1:13.5 | can't do, how things are valued. Super, super important to have those kinds of partners on your |
| 1:18.5 | side and Live Oak Bank can be those partners for you guys. We've had an amazing feedback from so |
| 1:23.7 | many people out there that have reached out to Live Oak and have had amazing experiences with them as well, |
| 1:28.4 | which is so cool to hear. And one of the reasons why we've specifically chosen them to be our sponsor on this podcast. |
| 1:35.3 | So Link is in the show notes. Go check out Live Oak Bank. Get out of them. Get all your questions answered. |
| 1:41.1 | Figure out what direction you're going to go and get that financing and funding figured out. Our next sponsor, Janice International, amazing solutions for you guys, |
| 1:48.8 | whether you're building a new facility or you're trying to upgrade an old facility. They have a lot |
| 1:53.8 | of amazing options and solutions for self-storage owner and operators to bring their facilities |
| 2:00.8 | up to today's standards and to also |
| 2:03.3 | help you guys build some of the most state-of-the-art facilities that you could possibly be building |
| 2:09.1 | right now that help meet that user expectation that that that we all have really at this point |
| 2:16.2 | where we want things on demand we've got to have it |
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