Self Storage Income

This one small-town storage facility has made today’s guest over $500,000. And if you’re interested in buying your first storage facility, there’s no better inspiration than this. With one self storage investment, Braedon Haertling has added another 9-5-sized income stream and increased value by close to $1,000,000, all while working a full-time job. He had no experience, but a lot of drive, and didn’t do anything you can’t.   Braedon tried the rental property route, but scaling to 100+ doors didn’t seem like the best bet. Why buy 100 rentals when investing in storage units can get you to 100 doors with just one purchase? Thankfully, Braedon knew of someone who may be too busy to run their storage facility anymore. He gave them a call, scored a $0-down self storage facility, and the rest is history.    Got a 9-5? You can invest in self storage. Got kids and a family to take care of? You can invest in self storage. Think you need to know everything before getting your first facility? You couldn’t be more wrong. Thanks to simply taking action, Braedon now has a six-figure-producing self storage investment, $500,000+ in equity, and is hungry for his next deal!   What you’ll learn in today’s show: How to use the “seller carry” strategy to buy a self storage facility for $0 down Creating massive value ($1,000,000!) with simple improvements to your storage facility  Is your town too small for self storage? How Braedon gets 90%+ occupancy in a 3,200-person town  One big mistake Braedon made, but later turned it into a substantial payday  Why you should NOT quit your job to invest in self storage (unless…) — Grab AJ’s Book, _Growing Wealth in Self-Storage 2.0_: https://www.selfstorageincome.com/book  Braedon’s Instagram: https://www.instagram.com/thestoragemat/ Braedon’s TikTok: https://www.tiktok.com/@thestoragemat 🌳 Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/ 📑 Our Self-Storage Feasibility Studies will help you speed up the process in understanding markets, potential risks, and analyzing the facility itself. https://cedar.cc/feasibility-studies/ 

Buying a storage facility? Make sure you spot any of these 12 self storage investing red flags. If you’re able to avoid them successfully, you could be buying a killer next investment, with high occupancy, high rates, and steady cash flow. After investing in dozens of self storage facilities, with millions of rentable square feet, we’ve nailed down the 12 deadly self storage red flags that can prevent a facility from taking off.  There are two types of red flags: the ones you can fix, and the ones you can’t. The fixable ones might mean you have a serious opportunity within your market, and you can flip that red flag to a green one. The unfixable red flags…that’s another story. Don’t worry, we’re going to spell out each so you know which red flags to run from, and which could make you money.  We’re talking about red flags like: declining populations, too much supply, high vacancy, weak local economics, poor visibility (online and on the street!), and more. Do you think you know which you can fix? Think again, we’re giving you the exact list of self storage red flags.  What you’ll learn in today’s show: The 12 self storage investing red flags every investor should be aware of  Is a declining population always a bad thing for storage? How to stop your competitors from building near you and boosting supply The “secret” way to find out how occupied other facilities are in the area  How much should your self storage customers make? We’ll share the perfect income range  Which red flags can be flipped to green flags so you can profit! — Register Now for SSI Live - https://www.selfstorageincome.com/live-event  Get 1-on-1 Coaching from Conner! - https://www.selfstorageincome.com/coaching   Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207 Get AJ's book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest 

A new wave of wealth in self storage is on the horizon, offering opportunities for small to large investors alike. The shift from individual operators to consolidated models is reshaping the landscape. Key strategies include adapting to technological advancements and utilizing dynamic pricing for maximum revenue. With many mom-and-pop facilities already taken, timing is essential. Learn how to navigate these changes and seize profitable investments before the market becomes saturated. Don't miss out on this chance to catch the wave!

Exploring the often overlooked world of self-storage investments, this discussion reveals why these facilities can serve as a fantastic first investment. With higher cash flow, lower risks, and less management hassle, self-storage is shown to outperform traditional real estate options. The conversation also touches on how smaller investors can capitalize on unique value-add opportunities being missed by larger institutions. It's all about building wealth with patience and strategic choices in this booming sector!

Today we’re giving a complete financial walkthrough of our newest self storage investment. From purchase price to rental income, return numbers, and how we’re funding it, this is a complete breakdown of a facility that could very well be bringing in $1,000,000/year in the near future. This was not only a deal but a steal, and proves that there are profitable facilities in the market just waiting to be bought up.   But this storage investment is a little special. We’re not just acquiring a facility, upgrading it, and waiting for the rents to roll in. We’re expanding on this self storage investment, adding over 200 units to an already profitable investment. The best part? We’re planning to massively increase not only the cash flow, but the tax benefits by doing so, allowing us to cash-out a substantial tax-free sum in the next few years.   This facility is in what we call a “Goldilocks Zone.” There are hundreds of markets around the country that are stuck in these sweet spots that YOU can be buying in right now. Want to see how we conservatively underwrite self storage deals so they’re primed to overperform? We’re sharing all the numbers (and our methods) in this episode!   What you’ll learn in today’s show:   Our plan to increase this facility’s revenue by hundreds of thousands The “Goldilocks” markets that every self storage investor should be looking into How we underwrite and analyze self storage investments (conservatively) The massive tax incentive for investors to build new units and expand their properties  The solid returns we’ll make WITHOUT factoring in market appreciation Register for the Self Storage Income Live Event: https://www.selfstorageincome.com/live-event Get our FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment: https://www.selfstorageincome.com/youtube Self Storage Demand 101: Know WHAT to Buy (Full Guide): https://youtu.be/5GYZbRXkODk?si=ihzn_Qnn26r_C4yj 🌳 Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/ 📖 Get AJ's book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq 📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest 

Self storage demand—quite frankly, the most important factor when buying a self storage facility. Get it wrong, and you could lose tens or even hundreds of thousands when you sell. Get it right, and you’ve got cash flow, huge value-add potential, and the formula for a winning facility. This is the make-or-break of self storage, and even the newest investors can get rich with strong enough demand, while experienced investors can go broke getting it wrong.   So, you’re about to buy your first or next self storage facility—how do you measure demand before you buy? How do you tell what nearby facilities are charging and how full they are, and whether they’re even your competition? Today, we’re giving you a complete guide to self storage demand.   We’ll teach you how to measure your local demand and even predict future demand so you don’t buy in a declining market. Plus, who is the “ideal customer” for your storage facility? Other units in the area may not serve them, allowing you to fill a gap in the market. This is crucial for self storage investing, and we’ve already made the mistakes, so you don’t have to.    What you’ll learn in today’s show:   How to estimate current demand (and future demand) in your self storage market Why occupancy doesn’t matter and how you can still get high revenue with vacancy  Why square footage per capita measurements are often wrong (and can throw you off track) The customers who need self storage the most and don’t have enough space Pinpointing your “ideal customer” so you can target them better than your competitors  Buying in a declining or small market? Get this right before you buy  — Check out this previous episode: SSI 259. Turning Apartment Storage Lockers into Full-Blown “Micro” Storage Facilities https://www.selfstorageincome.com/podcasts/self-storage-income-2/episodes/2148839451  Get my FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment: https://www.selfstorageincome.com/start-podcast  Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/  Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest  Sign Up for My Newsletter Here: https://ajosborne.com/newsletter    

Investing in small self storage facilities is how almost everyone gets started. It’s where we began investing and probably where you did (or will), too. But sometimes small is a little too small. With too few doors, your expenses can quickly outweigh your revenue. Too big and you need to hire a manager. What’s the “sweet spot” in square footage that makes a great beginner self storage investment that’s easy to automate? We’re sharing it today.   Did you know that, even after investing hundreds of millions in self-storage, we still buy small facilities? It’s true. But, because we own so many, we know the pitfalls of running one, and how to automate it so you can work less—without hiring a full-time manager. How much do these facilities usually cost? What’s their profit and expense ratios? And what tech do we use to let customers rent without a single interaction from us?   If you’re about to buy, or currently own, a small self storage facility, this is your guide to running it right. Plus, if you’re a new investor, we have some cash flow tips that could save you when onboarding a new facility and all those expenses hit you at once—while you’re also chasing down rent payments. This could save your sanity next time you buy a small facility!   What you’ll learn in today’s show: The square footage “sweet spot” that is big enough to profit but small enough to automate  Why you should always (ALWAYS) look into a line of credit before closing on a facility  The different types of hidden costs you’ll incur once you buy a self storage facility  How small is too small (it’s NOT worth the investment) The actual expense ratio of a small self storage facility (it’s not what you think)     Get my FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment: https://www.selfstorageincome.com/start-podcast  🌳 Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/  🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207 📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest   

The self storage industry is changing once again. A new cycle has already emerged, and we’re back to a familiar era of lower occupancy—but with it come better deals to be found. The market is drastically different from when we first started in the 2000s. Still, whether you’re a brand-new self storage investor or a massive private equity firm, the fundamentals remain the same.  AJ and Conner are walking through the evolution of our self storage business. From a couple of partners and a few small facilities to hundreds of employees and huge self storage projects. We scaled from nothing to over $300M in self storage, but the processes we used can be applied and repeated even by the smallest operator!  We’ll reveal the business “ecosystem” that makes up our self storage holdings, how self storage is changing, what’s coming down the pipeline, and answer YOUR questions on the show with topics like how to lease-up fast, uncover competitor occupancy rates, and get financing. For more on finding, buying, and running storage facilities, check out AJ’s new book Growing Wealth in Self-Storage 2.0.  What you’ll learn in today’s show: The new stage of the self storage cycle we’re entering Buying opportunities as many ill-prepared self storage investors leave the market  The “ecosystem” of a successful self storage business (what we’re doing) How to raise occupancy at your self storage facility, even if it’s brand new Why we always “secret shop” at other self storage facilities before we build/buy  🌳 Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/  🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207 📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest   

What goes into a self storage development deal? You’re about to find out! Today, we’re breaking down the first self storage facility we ever built—everything from the property’s financials and the construction timeline to how we ultimately turned a $4.3-million project into a $13-million self storage business that generates over $350,000 in annual cash flow!   In this episode, AJ and George will show you how to take an initial concept and turn it into a fully stabilized self storage facility, step by step. The truth is that many developers approach self storage from the wrong angle, so we’ll show you what to focus on before getting started—like narrowing down your target customer and building with them in mind to the dangers of cutting corners on quality and focusing more on upfront costs than revenue potential.   But that’s not all. We’ll also share some of the things we wish we knew before building our first facility and the biggest lessons learned that saved us thousands on future projects. Whether you’re curious about the development side of the self storage industry or seriously considering your own development project, you don’t want to miss this one! What you’ll learn in today’s show: The step-by-step process of developing a self storage facility from scratch How we turned a $4.3M facility into a $13M+ business A complete breakdown of the self storage development timeline How to build a self storage facility that attracts premium customers Creating a competitive edge without low rent prices or cheap construction Why investing more money upfront leads to higher rents and less risk   Helpful Articles:  https://www.selfstorageincome.com/blog/10-crucial-tips-when-running-a-self-storage-business  https://www.selfstorageincome.com/blog/the-keys-to-stabilizing-a-self-storage-facility-don-t-miss-these  https://www.selfstorageincome.com/blog/the-self-storage-industry-a-brief-overview  🌳 Work with someone experienced in self storage loans at Live Oak Bank! We seriously love them. https://www.liveoakbank.com/business-loans/self-storage/

Want to increase revenue at your self storage facility? Want tenants who will stay the longest and pay the highest rents? Today’s guest owns over 20 self storage facilities and has managed more than 100. He’s so good at what he does that we’ve even brought him on to help with our bigger facilities. In this episode, he shares his playbook for attracting the best self storage customers—and raising rents on tenants least likely to leave.  Kenny Pratt has over two decades of experience in commercial real estate. He was the Director of Operations at LifeStorage, responsible for maximizing income growth. He knows the secrets of the REITs and proved it by starting from scratch with Crescendo Properties and Crescendo Self Storage Management. Now, he owns 25 self storage facilities and runs all of them successfully, even with REITs nearby. What’s the optimal self storage customer? How do you get tenants to stay for longer? What are the “pain points” you can solve immediately to increase occupancy and revenue? And why should you never let your facility manager be the one making the sales? Kenny shares two decades of self storage secrets to put you on the financial freedom fast track with your portfolio!    What you’ll learn in today’s show:   Secrets that BIG facilities use to know who to raise rates on  The “rate lock” strategy that keeps customers renting for longer  The optimal self storage customer that will pay more and stay for years  A common “pain point” you can solve to get even more rentals at your facility  Creative financing is back! How Kenny is picking up self storage facilities in today’s market  Why you should NOT have your facility manager be in charge of sales  — Crescendo Self Storage Management - https://propertymanagement.storage/  Kenny’s LinkedIn- https://www.linkedin.com/in/kennypratt/  Reset: How to Change What's Not Working - https://www.amazon.com/Reset-How-Change-Whats-Working/dp/1668062097  Want to increase revenue at your self storage facility? - https://www.selfstorageincome.com/blog/how-to-increase-revenue-in-self-storage-investing