Self Storage Income

Building a storage facility may be easier now than it has been in the past five years. With so much of the competition out of the market, top-tier building companies are completing projects faster. And with higher tariffs on pause, now may be one of the best times to lock in pricing before they rise again. But maybe this is your first storage facility construction project or your first facility in general. What should you know BEFORE you start in 2025?    We brought Forge Building Company, the experts in self storage development, back on the show to give a 2025 update. They’re sharing the biggest opportunities for building in the 2025 market, the pitfalls that only experienced developers know to avoid, how to get your project passed by the city, and what’s happened to material costs since the latest round of tariffs.    Development demand has shrunk by a whopping 20% - 30%, so this could be the perfect time to get into the game before rates drop and demand skyrockets back up. Plus, Hamish Bell and Melissa Anderson from Forge even share the new types of “space” modern self storage facilities are adding to increase revenue AND make the city happy.    What you’ll learn in today’s show: Why the drop-off in self storage development demand could be a good thing for investors  Build now or wait? How to decide when tariffs could boomerang back  Signs that a self storage market is worth building a new facility in  How to get your plans approved by the city and get your inspection passed  Choosing the right unit types for YOUR specific market (do NOT blindly divide your unit mix) —   Attend the Self Storage Income Live Event!  https://www.selfstorageincome.com/live-event    Forging Ahead: Construction Resilience and Opportunity in 2025 - https://forgebuildings.com/forging-ahead-construction-resilience-and-opportunity-in-2025/    Forge Building Company - https://forgebuildings.com/    Interested in Building? Email: Sales@forgebuildings.com    📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 🎙️ Do you have a great story to share on the SSI podcast? 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 📉 Learn about our current investment opportunities at Cedar Creek Capital: https://cedar.cc/invest 

Want to invest in self storage but feel like you're on an island? You don’t have to do this alone. Whether you’re buying your first self storage facility or looking to scale your portfolio fast, we have tools, resources, and, most importantly, a community to tap into—stick around and we’ll show you how to find everything you need!  In today’s episode, Conner and George share what Self Storage Income is all about: community, action, and growth. We dive into how the Inner Circle was born and how it has evolved into a one-stop shop for investors looking to fast-track their success. Complete with bookkeeping, virtual assistants (VAs), feasibility studies, coaching, and connections to self storage loans, deals, and brokers, this level of access is the game-changer most investors miss! Huge changes are coming to the self storage industry. Large operators are buying up mom-and-pop facilities, and the window of opportunity is shrinking fast. If you want the secrets to finding, funding, and running a profitable self storage business in 2025, you won’t want to miss this one!   What you’ll learn in today’s show:   Fast-tracking your self storage journey through the power of community Unlocking consistent deal flow through the industry’s “one-stop shop” The easiest way to find brokers and lenders for your next self storage deal Scaling your portfolio fast with access to top industry connections Real self storage success stories from investors just like YOU — Schedule a Call with Our Team - https://www.selfstorageincome.com/learn    Need Money? How to Buy a Self Storage Deal with Partners (ep 293) - https://www.youtube.com/watch?v=YYlCTzQQykg 

Jonah Hall, President and CIO of Cedar Creek Capital, dives into the surprising benefits of lower occupancy rates for self-storage facilities. He discusses how strategic pricing and management can enhance revenue even with fewer tenants. Jonah highlights the importance of understanding economic occupancy and reveals innovative strategies like utilizing lockers as entry points. He also touches on the influence of homeowner associations on storage needs and the financial implications of managing occupancy and tenant relationships effectively to maximize profits.

Whether you’ve got one self storage facility or twenty, you own a self storage business. And, if you’re like most of us, you want to keep growing. But you can’t be the one changing the locks, picking up the phone calls, answering the emails, and repairing the units while building your portfolio. If you’re doing this, you’re on track to have just another job instead of a fully fledged, profitable business. So, you’re tired of doing all the work. Who do you hire first? Today, we’re talking about teams. These are the people who will take your storage facility business to the next level. You might have zero employees or just a handyman and virtual assistant. Or, you could have full-time staff on the backend. Wherever you’re at, we’re sharing how you can scale faster, smarter, and WITHOUT making the same mistakes we did so you can work less, make more, and build your business faster. When we started, we were the ones shoveling the snow, repairing the units, changing locks, and answering calls. This quickly became too time-consuming, so we were forced to hire. Now, with $300M+ in self storage, our business has radically changed, but the steps we took have not. Follow these “levels” of leadership, and you’ll be able to make self storage your full-time business, or at least a more passive income stream that takes care of (much of) itself. What you’ll learn in today’s show: Who should be your first hire when running a self storage facility  The three “levels” of leadership you’ll go through as your business expands  How to ensure standards don’t start slipping when you leave the day-to-day operations  Start firing yourself! If you’ve got a full-time job, you need to STOP working on your facility  The biggest mistakes AJ made when taking on team members and leading employees  How to STOP working in your business and start working ON your business  Leave a Review for AJ’s New Book: https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic/dp/1735258865

The self storage industry has a data problem. How do you narrow down self storage deals? Which metrics matter when analyzing markets? How do you even find self storage data? These are just a few questions new investors have asked but have long gone unanswered…until now. Today’s guest is tipping the scales toward small investors and giving them the tools to compete with institutional players!   Today, we’re chatting with Noah Starr, CEO of TractIQ, a self storage platform that arms everyday investors with the information they need to make better, faster decisions. Noah quit his corporate job to start a self storage business, only to realize that it was difficult to find the data he needed to buy with confidence. Even in 2025, new investors still rely on surface-level metrics—through no fault of their own.   But now, Noah is democratizing the data that institutional buyers have used for decades so YOU can analyze deals properly and stop taking chances on your investments. Tune in as he shares how to identify high-opportunity markets, which signals drive self storage demand, and how TractIQ helps investors find profitable self storage facilities in seconds! What you’ll learn in today’s show: How to unlock better self storage deals using institutional-grade data Noah’s journey from corporate burnout to big-time self storage investor How to identify undervalued markets with low competition and HUGE upside The number one way new investors can compete with REITs (and actually win) The metrics that matter most when analyzing self storage markets Your secret weapon for finding profitable self storage facilities in seconds Self Storage Income Live Event 2025 https://www.selfstorageincome.com/live-event  TractIQ https://tractiq.com/ssi  Noah’s LinkedIn https://www.linkedin.com/in/noah-starr  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  📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/

Is buying self storage facilities a surefire path to building wealth? In this episode, we’ll show you why buying a small, mom-and-pop operation might be the perfect alternative to residential real estate. For those who don’t want the tenant headaches of long-term rentals or the unpredictable income of short-term rentals, this episode is for you!   Today, AJ and George are sharing self storage success stories from everyday investors who are increasing their facility’s value by six figures (while working full-time), using 10%-down SBA (Small Business Administration) loans to buy facilities, and scaling their income without the stress of other asset classes. The best part? These aren’t unicorn stories. They’re repeatable models rooted in solid deal analysis and smart operations.   Whether you’re just getting into real estate investing or you’re tired of tenants and toilets, we’ll show you why self storage gives you more control over your property’s revenue and value. We’ll break down the operating expenses you’ll need to consider when analyzing deals, what to make of cap rates, and how to quickly scale from small operations to much larger, high-value investments! What you’ll learn in today’s show:   The pros and cons of buying self storage versus other asset classes AJ’s simple, three-pronged business model for new self storage investors Unearthing HUGE opportunity with under-optimized, mom-and-pop facilities Buying facilities with 10%-down SBA (Small Business Administration) loans Cap rates explained and how to (properly) analyze a self storage deal Why self storage gives you more control over expenses, pricing, and valuation Self storage operating expenses you can’t afford to overlook   Check out our Inner Circle:  https://www.selfstorageincome.com/inner-circle    Check out the video podcast on YouTube https://www.youtube.com/@AJOsborneOfficial/videos 

How much does it pay to have a cell tower on your property? Most self storage owners don’t realize that cell tower leases can be extremely profitable. But they can also bind you to a long-term agreement that might not be in your best interest. How do you get the best of both worlds: an extra income stream plus a cell phone tower lease that gives YOU flexibility to sell, refinance, or develop your property? Hugh Odom from Vertical Consultants is here to help.  Hugh has probably looked at more cell phone tower leases than anyone on the planet. He’s been helping storage facility owners get the best bang for their buck on cell tower space for years by negotiating contracts with tower companies and providers. Today, he shares how to get top dollar for your space, WITHOUT locking yourself into a bad lease. Plus, what do cell phone towers pay in rent? $500/month? $5,000/month? And how do you know how much your facility could charge for a cell tower on your land? Or maybe you’ve bought a facility with a cell tower lease already in place—can you renegotiate for more? Yes! Today, Hugh is showing you how! What you’ll learn in today’s show: How much cell phone tower leases make, and whether it’s worth it for self storage owners Renegotiating with cell phone tower companies if you’ve inherited a lease on a new property  Pitfalls to watch for before you sign a lease with a cell phone tower company  New AI cell tower lease tools to help YOU get the most rent possible  One MASSIVE fee cell tower companies can charge you (watch out for it!)    — - Self Storage Income 34 - The In’s and Out’s of Cell Towers with Hugh Odom | How to do them Right https://www.selfstorageincome.com/podcasts/self-storage-income-2/episodes/2147769088  - Self Storage Income 233 - Can you Make Money from Cell Towers on your Storage Property? https://www.selfstorageincome.com/podcasts/self-storage-income-2/episodes/2148549342  - Vertical Consultants. https://www.celltowerleaseexperts.com/  - Cell Tower AI https://celltowerai.com/  __ 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 🌳 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 

Thinking of buying a self storage facility? If you’re like most people, you’ve been thinking about it for a while. You see self storage deals come up in your emails or on listing sites. You get close to pulling the trigger, but haven’t quite gotten there yet. What’s the deal? Why does it seem so hard to finally buy your first self storage facility?    You’re not alone. In today’s episode, we’re describing why this “analysis paralysis” happens, how to break through it, and finally buy a self storage investment.     We break down why so many investors never close that first facility—and how to move past fear, doubt, and analysis paralysis. Whether you’re unsure about risk, buried in underwriting, or just can’t pull the trigger, this episode gives you the mindset, framework, and tools to finally buy a storage facility the right way.   We’re not talking fluff. We’re talking tactical risk management, how to build your buy box, what really holds people back from buying their first self storage facility, and how to cut through the noise to take action. Plus, an exercise you can do RIGHT now to prove to yourself a deal is worth buying and that you can handle getting it done!    What you’ll learn in today’s show:   The real reason you haven’t bought your first self storage investment yet  How to break through analysis paralysis and build confidence to finally buy A three-step risk mitigation framework to help you quantify risks and make smart, confident buying decisions Why waiting for the “perfect” signal is a trap—and how the best deals are often made when others are afraid (like right now!)  The mindset shift that top investors make to go from fear to execution  Useful links!  Buying your first facility- https://www.selfstorageincome.com/blog/buying-your-first-self-storage-facility  Storage investing 101- https://www.selfstorageincome.com/blog/self-storage-investing-101  Underwriting 101- https://www.selfstorageincome.com/blog/self-storage-underwriting-101 

The self storage industry is going through a significant shift. A few years ago, sellers were in complete control—asking wild prices and still landing buyers willing to overpay for facilities that weren’t worth it. Fast forward to today, the stock market has crashed, a recession looks likely, and those same sellers aren’t as confident. This is good news for you, a self storage buyer, because the deals are coming back with big discounts.  Today, we’re giving a self storage market update, plus sharing the steps self storage investing beginners should take to separate the “signals” that lead you to wealth from the “noise” that puts you in hot water. We’ve been through this exact scenario multiple times, 2008 and 2020. Both times, the markets had crashed, and people were begging us not to buy. But we ignored the “noise”—and benefited handsomely.  The current shift affecting the self storage industry could get even more intense. New development could drop off a cliff, and that has enormous effects on self storage owners. Is your demand going to rise or fall? What’s the best way to make more money in a time like this? And why would a recession turn out to be good for storage?  What you’ll learn in today’s show:  May 2025 self storage industry update and why market crashes/recessions could benefit storage Everything a beginner should look for if buying their first facility in 2025  How to tell the economic “signals” from the “noise” and which to pay attention to The incoming development drop-off that has massive effects for self storage investors and operators  Local trends that could kill your facility’s demand (and the data to check before you buy) — Self Storage Income Newsletter  https://www.selfstorageincome.com/  The Bubble has Popped - Self Storage Market Update | SSI Podcast #203 https://youtu.be/4hci2laBTGk?si=X7r3NEmRwxFgNgNj  Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ Work with someone experienced in self storage loans at Live Oak Bank! We seriously love them. https://www.liveoakbank.com/business-loans/self-storage/   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 

When we started Self Storage Income, there were just two of us. We were quickly burning through tens of thousands of dollars a month, giving out as much free information as possible to anyone investing or looking to invest in self storage. And today, we’ve upgraded…now it’s costing us hundreds of thousands to keep this podcast and platform going. So… why keep doing it? In this episode, we’re sharing the entire backstory of Self Storage Income. But we’ve also got a very special guest: George Mortimer, the brains behind Self Storage Income and AJ’s first hire to run the entire operation! AJ, Connor, and George are sharing how Self Storage Income started, why we give so much information away for free, how the podcast grew so rapidly (thank you for listening), and how making your competitors better ends up helping you. If you’re a long-time listener of the podcast, we want to thank you for helping us build the self storage industry that we’re proud of today! If you love the show, please give us a review on your favorite podcast platform so we can reach more self storage investors and operators!   What you’ll learn in today’s show: Why (and how) Self Storage Income started and why we share industry-leading information for free The real reason we’re happy to break even on giving away education for self storage investors  New self storage services we’re providing that will upgrade your facility and portfolio  Why having competent competitors will actually make YOU richer in the long run Our secret weapon behind Self Storage Income and the brains running the operation — Growing Wealth in Self-Storage 2.0   https://www.selfstorageincome.com/book  The Inner Circle  https://www.selfstorageincome.com/inner-circle  Get our FREE self storage starter pack to learn how to analyze, underwrite, and operate your next storage investment: https://www.selfstorageincome.com/start-podcast  📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 🖊️ Enter our survey for a chance to win a signed copy of AJ’s Book: https://form.asana.com/?k=da0pR8v74pC8OEgx9dgKRQ&d=1203571084143207 🌳 Work with someone experienced in self storage loans at Live Oak Bank! We seriously love them. https://www.liveoakbank.com/business-loans/self-storage/