Self Storage Income

Mike Burnam, CEO of StorageMart with over 42 years of experience in the self storage industry, discusses the current state of self storage markets, including debt challenges, remote-controlled facilities, and the impact of technology on the industry. With large competitors experimenting with digital solutions, smaller markets are being impacted while high population areas adapt to these changes.

The economy is shuttering: with the Fed raising rates trying to slow down inflation, banks are responding differently to investors than they used to. Developments aren't getting approved as much as they used to. What does this mean if you are wanting to invest in, build, or acquire a new storage facility?  Today we are joined by Anna Taylor, who is the head of Self-Storage Lending at Live Oak Bank and she is an absolute self storage lending expert. She's kept a close eye on the industry over the last decade. We talk about the market conditions right now, what she's seeing from a lending perspective, and what needs to be done prior to obtaining the loans and financing you may need.  Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here: https://www.cedarcreekwealth.com/debt Our partners: Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ Janus International - https://www.janusintl.com/ Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook 

When buying a self storage facility, the sale price isn’t always market value - if it was, we’d live in a perfect world. Thats why having an appraiser come out and inspect the property can be tremendously valuable. They can tell you what exactly adds or subtracts from market value and determines the final sale price. In this episode, special guest Tim Garey from Cushman & Wakefield Self Storage sheds light on the appraisal process. With over 20 years of experience in commercial real estate, Tim has valued a wide variety of properties: shopping centers, industrial, golf courses, and...self storage!  Find out more about Cushman & Wakefield here: http://cushwakeselfstorage.com/ Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here: https://www.cedarcreekwealth.com/debt Our partners: Want to take advantage of todays market conditions with us? Invest in our opportunistic Fund 2 Here: https://cedar.cc/invest Join my Inner Circle! An exclusive mastermind for real estate investors seeking the most advanced strategies and resources in the world for generating wealth and passive income through self storage investing. https://www.selfstorageincome.com/inner-circle  Tenant Inc. - https://www.tenantinc.com/ Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook 

In this special Q&A episode of Self Storage Income, we answer YOUR questions directly. We will be addressing - The State of Self Storage in 2023 - Developments: The Pros & Cons - Finding Investors for a Boat & RV Facility with much more to come. Thanks to all those to have supported us and sent us questions. You can send your own via our YouTube channel, Instagram, or Twitter.  https://www.youtube.com/@SelfStorageIncome  https://www.instagram.com/ajosborne/  https://twitter.com/AjOsborne1  Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here: https://www.cedarcreekwealth.com/debt Our partners: Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ Janus International - https://www.janusintl.com/ Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/

There are many ways to finance a self storage deal. You can bring your own money, leverage your own assets, or enlist the help of others, like investors, banks, and even the sellers themselves.  Today we're talking about two of the most common ways to finance a storage facility: Funds and Syndications. Funds pool together capital to invest across a series of investments or properties, such as a portfolio, hence diversifying the capital you invest.  Syndications aggregate a group of investors together to "crowd-finance" a single property or deal, but allows for more parties to help manage or secure deals, especially larger ones.  We're breaking down what you need to know BOTH as an investor AND a sponsor. What are the pros and cons of each?  Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here: https://www.cedarcreekwealth.com/debt Our partners: Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ Janus International - https://www.janusintl.com/ Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/

Once you've figured out which market to go in and what price you should pay, the next step is to secure the funding and financing for your deal. Lending is a tricky business - there are numerous types of loans and fund structures each with their unique benefits, regulations, and interest rates. Each of these factors will directly affect how your deal functions now and years into the future.  Today we are talking to Ben Benditson, our newest addition to the Cedar Creek team. He's a broker who has helped us fund numerous deals that we now own. We're going through the Pros and Cons of different types of funding for Self Storage (and commercial real estate at large) and what to look for and avoid when you are raising capital.  Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here: https://www.cedarcreekwealth.com/debt Our partners: Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ Janus International - https://www.janusintl.com/ Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/

Valuation is a key step in buying a self storage facility. You need to know how much it costs, after all. Price is a measurement of value. But in commercial real estate, value is not determined only by the price. You also need to look at things like revenue, growth, expenditures, and operations. It’s not just a single line item. Not anymore.  As an investor, what are those drivers that determine the total cost?  As a seller, what factors in the market affect your property right now?  That and more in this episode! Our partners: Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ Janus International - https://www.janusintl.com/ Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/  

Self Storage hasn’t always been the real estate class that we all know today. It’s one of the youngest and was originally developed under drastically different circumstances. Cities often approved storage to gain an income producing property that didn’t stress the infrastructure by adding more traffic or population.  Understanding the key changes from how storage started and how it got to where it is today will shed some light into what exactly affects the demand, markets, and revenue. What makes it tick?  Today, we’ve invited Steve Mirabito, President of StoragePRO, Inc and a board member of the world’s largest Self Storage Co-Op, Storelocal. He has been in the industry since the early days, and his experience in the industry is unmatched. We’ll be talking to him about what it was like when he first started out, and how the industry has shifted over the years.  Find out more about Steve: https://www.storagepro.com/  Our partners: Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ Janus International - https://www.janusintl.com/ Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/  

Starting out in Self Storage can seem scary and complicated. Even if you've studied the topic and the math, nothing beats experience in the industry and knowing what metrics to achieve and what pitfalls to avoid.  Ben Kall is a real estate agent and broker out of Minnesota. He's dealt in multi-family, triple net lease (NNN), and now Self Storage. His first investment (outside his first home) was a $1.5 million facility. We've invited him on to share some of his experiences just starting out, what it's like,and what you need to know about acquiring your first facility! Check out Ben's company: https://www.mn-storage.com/ and https://www.waukeestorage.com/   Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ Janus International - https://www.janusintl.com/ Want to invest in storage without dealing with the day-to-day operations and management? https://www.cedarcreekwealth.com/

In the last 6 months, the Self Storage market has shifted. We've discussed this before, but in today's episode, AJ and Conner discuss how this affects occupancy and revenue. Namely, how can you increase your revenue despite the market conditions driving occupancy down?  AJ and Conner are fresh off of an internal meeting where they reviewed a market he currently owns more square footage than the REITs in that area. So for this episode, he pulls information from his accounting and underwriting teams to break down the changes happening and what needs to be adjusted.  Don't miss the market insights and updates! Check out our YouTube channel for more! https://www.youtube.com/@SelfStorageIncome/featured  Our partners: Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ Janus International - https://www.janusintl.com/ Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/