Self Storage Income

The self storage industry has finally bottomed out, and today’s guest believes there are more deals now than ever. He’s seizing the moment and buying self storage facilities left and right because in 18 months, these deals could completely dry up—leaving many wishing they had invested in self storage.   In this episode, Conner and George sit down with Ben Gottfredson, who, just a few years ago, depleted his life savings to build his first self storage facility. Since then, he has started his own private equity fund and scaled his self storage business to 15 facilities. But the truth is that Ben would still be stuck on his second deal if he hadn’t developed soft skills and forged invaluable partnerships that helped him rapidly grow his net worth and create lucrative investing opportunities for many close friends and family members.   Today, he’ll show you how to do just that—build out your network and teams in a way that allows you to grow your portfolio as quickly as possible. Ben also opens up about the blunders he made on past deals, from buying while the market was at its peak to cutting corners when stabilizing his facilities, so you don’t repeat his costly mistakes! What you’ll learn in today’s show:   How Ben has scaled from one to 15 self storage facilities in only a few years Why now is the best buying window the self storage industry has seen in years The top-down and bottom-up approaches to building your self storage business Fast-tracking your investments through education and networking How to scale your portfolio faster with smart investing partnerships “Underrated” soft skills that provide rare self storage investing opportunities — 🔵 Join Inner Circle https://www.selfstorageincome.com/inner-circle  ▶️ Buying Your First Facility in a Small Town w/ Ben Gottfredson | SSI Podcast #217 - https://www.selfstorageincome.com/podcasts/self-storage-income-2/episodes/2148265195  🚛 Big Storage Ventures - https://www.instagram.com/bigstorageventures 

Self storage investing isn’t always smooth sailing, but the market tends to reward those who stay the course. From wild construction-site break-ins to complex newspaper-building conversions, this self storage investor has seen it all—yet he’s still built a multimillion-dollar storage business that supported his family after a health incident took away his main source of income. In today’s episode, AJ and Conner are chatting with Wayde Elliott, founder of StoreIT. When spinal fusion surgery forced him to leave his successful dentistry practice of 20 years, Wayde turned to the only backup plan he had: self storage. Since going all-in, he has scaled to roughly a dozen self storage facilities across California and Oregon. Despite taking on ground-up developments and complex conversion projects, sharp self storage analysis, collaboration, and persistence have helped him carve out his own corner of the market where even REITs struggle to compete. Stay tuned for not only a wealth of sage advice but also one of the most bizarre break-in stories you’ll ever hear—involving secret tunnels, missing cameras, and an exhausting cat-and-mouse chase!   What you’ll learn in today’s show:   The wildest self storage break-in story we’ve ever heard  How Wayde built a self storage portfolio that allowed him to leave his high-paying career The “hack” that helps you dodge rookie mistakes and scale your portfolio faster Blending automation and on-site supervision with the hybrid management model What you must know before tackling a self storage conversion project Why doing “difficult things in difficult times” gives you a competitive advantage — 🔸 StoreIT: https://storeit.com 📸 Wayde’s Instagram: https://www.instagram.com/waydeelliottdmd 🔵 Join Inner Circle: https://www.selfstorageincome.com/inner-circle 🌳 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 

After one self storage investment, Darren and Jyoti Osten knew they wanted out of residential real estate. They had bought rental properties, a fixer-upper, and an apartment building, but none were as profitable or passive as self storage investing. Now, six years later, they have four self storage facilities and a small, but stable, portfolio that they run from over 1,000 miles away.    When a property manager brought Darren and Jyoti a self storage deal at a time they were tired of the toilets and tenants of rentals, they made the leap. They loved it so much they bought one more, then another, then decided to self-manage, and buy another one. They knew nothing about self storage management from the start, but quickly were able to raise rents, get higher-quality tenants, and do a big self storage expansion on one of their facilities.    Today, they’re sharing the easy moves they made to raise their facilities’ rents, get more revenue, increase security, and fix delinquency. Plus, how they 2x-3x-ed one facility’s value with an expansion project, giving them much higher revenue. You can do this, too, even if you’re working full-time and even if you have no experience.   What you’ll learn in today’s show:   Why you should self-manage your own self storage facilities (makes much more money!) Don’t want to deal with rental properties? Storage might be your best option  Expanding your storage facility and the cost to double the space (plus a 0% down loan to try) Why occupancy is not that important and how to get higher revenue with fewer customers Easy online marketing that any self storage facility can implement to fill up faster     — Juniper Investors - https://juniperinvestors.com/index.html    Join the Self Storage Income Community!  - https://www.selfstorageincome.com/learn 

Financing is a necessary hurdle to clear when buying a self storage facility, and in this market, it’s more crucial than ever to explore all your self storage loan options and get creative when structuring deals. The good news is, you likely have even more negotiating power today than in years past!   In this episode, AJ and Conner are pulling back the curtain and sharing multiple financing strategies you can use to fund your next self storage deal. First, they dig into seller financing and share the three-option approach they use to win over hesitant owners. Then, they discuss Small Business Administration (SBA) loans that, when done right, allow you to put as little as 10% down. They also cover several methods of raising private capital, from pitching opportunities to close friends and family to bringing on a hard money lender.   With these financing strategies, you may not even need the bank to get into a proven asset class like self storage. Once your self storage business is stabilized, follow AJ and Conner’s refinancing tips to lock in great terms on a long-term loan!   What you’ll learn in today’s show: Several ways to fund your next self storage facility (even without the banks) The secret to pitching seller financing as a win-win for both sides Three golden “rules” to follow when structuring a seller financing deal Putting as little as 10% down on a self storage facility with an SBA loan What every investor must know when refinancing into a more “permanent” loan Links:  🌳 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 

This husband and wife skipped rental properties and went straight to self storage investing. They kept hearing the regrets from other investors saying “we wish we scaled faster.” So, why wait to scale to bigger properties when you can just buy them from the start? That’s exactly what Matthew Rojas and Jingwen Ni did, and they have zero regrets.   It took Matthew and Jingwen two years to find the perfect self storage investment. But, the waiting was worth it. They landed a seller financed, completely full, storage facility with 30%-40% room to increase rents. How did it go with the current customers? They’ll share the entire story from finding the first facility to negotiating, raising rents, and automating it with software and smart upgrades.   But they didn’t stop. Now, they have two self storage facilities—the newest being a high cash flow “land lease,” that few storage owners even know is possible. Beginners, this is the repeatable model to follow to get your first, second, or third self storage facility!   What you’ll learn in today’s show:   Why you should skip rental properties and go straight for self storage and commercial real estate  How to get the perfect self storage investments sent to you from brokers and wholesalers  Raising rents by 30%-40% with very few move outs (do what Matthew and Jingwen did!) “Land leasing” self storage facilities for high cash flow and big tax benefits  Why occupancy does not matter in self storage, what you should focus on instead    — Join the Self Storage Income Community  - https://www.selfstorageincome.com/ssi-membership  Go Beyond Properties - https://gobeyondproperties.com/   

You’ve found a self storage deal, but to get to the closing table, you’re also going to need a lender. For many new investors, self storage financing is the most intimidating part of the process, but in this episode, Conner and George will share everything you need to know to get your first or next self storage facility fully funded.   The truth is that self storage is one of the least-defaulting asset classes today, and with one simple but crucial mindset shift, you’ll stop feeling like you’re “asking for money” and start confidently presenting attractive opportunities to banks, partners, and investors. You’ll learn how to speak the lender’s language and the keys to getting approved for a self storage loan.   We’ll also walk you through a checklist of essential documents, tips for analyzing self storage deals, and resources that will connect you with the best lenders. Plus, we’ll show you how to use debt service coverage ratio (DSCR) as a powerful negotiation tool and how to craft a business plan that gives lenders the confidence to partner with you. What you’ll learn in today’s show:   How to find a great lender for your first or next self storage deal Using debt service coverage ratio (DSCR) as a powerful negotiation tool Crafting a business plan that makes your self storage facility stand out Essential documents to have ready when working with a lender Why you should always talk to multiple lenders when funding a deal The massive advantage self storage has over other asset classes   — Learn More About Feasibility Studies - https://www.selfstorageincome.com/feasibility  Email info@selfstorageincome.com to Be Connected to a Lender Self Storage Analysis 101: How to Underwrite a Self Storage Facility - https://www.youtube.com/watch?v=y4u4-OJbhnA  Live Oak Bank - https://www.liveoak.bank/ 

Korbin Smoot and Bill DeWaal, co-founders of Better Self Storage, are reshaping the self-storage industry with their remote management skills. They share insights on successfully operating 19 facilities across multiple states without being on-site. Their partnership thrives on complementary strengths in acquisitions and operations. Learn how they leverage virtual assistants for efficiency, refocused their underwriting strategies, and significantly increased revenue at their facilities. Plus, their take on competing with REITs and finding properties with operational upside is a game-changer!

You’re about to make an offer on a self storage investment. You’ll need two things: an LOI (letter of intent) and a PSA (purchase and sale agreement). You may need to use one or the other or both, depending on your situation, but not having these two contracts could be stopping you from getting your first or next deal done.    Today, AJ and Conner explain precisely what a PSA and LOI in real estate are, the key difference between these two crucial contracts, and how to use them to make offers on facilities that owners can’t ignore. This is how the pros get self storage deals done. No verbal offers. No handshakes. This is when it gets legit.   You found a self storage investment you like…what do you do now? Do you use an LOI vs. PSA first in commercial real estate? We’ll walk through which contract to use when, what to include in an LOI and PSA, the contingencies to add that ensure a seller can’t wrongfully back out, and why you always negotiate with the seller before you get one of these signed.   The next time you and a seller sign these agreements, you’ll be on your way to your next self storage deal.   What you’ll learn in today’s show:   What an LOI and PSA are in real estate (and when to use each of them) What to include in your initial offer to a seller (timeline, price, contingencies, and more) The one contract that stops a seller from coming back to you to ask for more Why you always negotiate with a seller before you sign one of these contracts  Seller not responding? What to send them to show that you’re a legit buyer  Sign Up for My Newsletter Here:  https://ajosborne.com/newsletter 🌳 Work with someone experienced in self storage loans at Live Oak Bank! We seriously love them. 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/

This is the biggest opportunity in self storage since 2008. Last time we were at this stage in the cycle, I was on the cusp of building a $100M+ self storage business. I bought when conditions were almost identical to what we’re seeing today, and now, I’m gearing up to buy even more. But here’s the best part: beginners can get in on this, too. Today, I’m showing you how.   This could be your $100M opportunity if you know what’s coming down the pipeline.    Things are getting eerily similar to the situation after the Great Financial Crisis (2008). Interest rates are coming down, housing activity is going up, cap rates are compressing, and occupancy rates may be ready to rise again. This was almost exactly how conditions were in the early 2010s when I was heavily building my self storage business. Don’t believe me? I’ll prove it with data in this episode.   We’re buying now—and we’re buying a lot. If you’re debating investing in self storage or growing your portfolio, this episode will be crucial for you. I’m putting my money where my mouth is, investing millions of my own capital to grow my portfolio.    Do not miss this stage of the cycle.    What you’ll learn in today’s show: Why 2025 may be mirroring the aftermath of the 2008 Great Financial Crisis  The best time to buy in 20 years? I’ll prove why it could be 2025 and 2026  A $10M bet I’m making on self storage investments (I’ll explain why I’m bullish) The massive discounts we’re seeing in the market (we’re buying at 2015 prices) Where we’re buying self storage facilities and states/areas we feel confident in   Learn more about Heritage Fund investment opportunities:  https://go.cedar.cc/faq    https://go.cedar.cc/welcome *Accredited investors only. Limited capacity.*

What happens when interest rates spike, self storage demand dips, and REITs start a race to the bottom with rent prices? You’ve got the current state of the self storage industry, with shifting market dynamics that have made things difficult for smaller investors over the last few years. The question now is, where do we go from here?   Interest rates have had a ripple effect throughout the self storage industry, leaving smaller investors wondering how they can build wealth with self storage investing while REITs and private equity have a stranglehold on many major markets. AJ, Travis Morrow, and Lance Watkins break it all down in a session from this year’s SSI Live Event. There’s reason for optimism heading into 2026 and beyond, but investors will need to adapt to major changes if they want to coexist with the bigger players.   Savvy market analysis is more crucial now than ever, and adopting technology is no longer optional—even if you’re investing in rural areas. Fortunately, everyday investors now have access to data that wasn’t available to them just a few years ago. Whether you’re developing or buying self storage facilities, these insights will help shape your strategy going forward and give you an edge in your market! What you’ll learn in today’s show: How to compete with institutional investors (REITs) charging rock-bottom rates Why investors must analyze self storage deals more conservatively in 2026 How technology is transforming self storage (and how you could get left behind) The massive opportunities small investors have in secondary and tertiary markets Strategies that will help you determine whether to invest in a new market How rising interest rates created a “ripple effect” throughout the self storage industry — Tract IQ: https://tractiq.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/