Self Storage Income

Starting out in Self Storage is no easy feat. We talk all the time about the finances and the underwriting and all the “prep work” that needs to be done before you attempt to acquire a facility. But now, you’ve done that, or maybe you aren’t in a position to wait any longer. You have to start looking for that first facility deal.  In this episode, we hear from Cameron, who went from loads of debt and 0 facilities, to over $30 million property valuations in just 2 years. When I met him, he was enthusiastic about the industry, but still harbored the fear and the uncertainty that we all experience when investing. He started learning all about the industry (and even joined my Inner Circle mentorship group), and made the jump to buy that first deal.  What exactly does it take to make that jump? To go all-in on that first deal? What factors do you need to consider, and what fears do you need to overcome?  Don’t miss this amazing episode with Cameron! Follow him on Instagram @storagekillercam 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/

Raising capital today is more uncertain than ever. Funding deals for any real estate investment has more implications than it did just a year ago. Syndications have numerous pros and cons between the sponsors, the people putting the deals together, and the investor, the people bringing the capital to the deal, who are typically accredited investors. What if you aren’t accredited? Can you still invest without meeting the legal requirements?  What is your  cost of capital?  control that the capital brings?  certainty of capital? We tackle these pressing questions with Ryan Strub, the head of commercial investments at Crowdstreet, a company specializing in linking vetted sponsors with investors and coming together on commercial real estate deals - including self storage. With over 700 deals funded and $4 billion invested, Crowdstreet offers tremendous opportunity and choice for investors. Find out more about Ryan and Crowdstreet: https://www.crowdstreet.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/

One of the great benefits of a Self Storage facility is its low maintenance costs. Sometimes, it may be in an operator’s best interest to fully automate a facility by making it unmanned, which can help increase customer satisfaction through online systems, and cut down costs associated with staffing.  However, it’s not as easy as it sounds. If a customer has questions, how would they reach someone? How do you handle payments? Defaults? If a facility is broken into, how would you know? And who do you call?  Today we talk with Terry Campbell from Copper Storage Management, who specialize in remote management of Self Storage facilities. We ask him some of these pressing questions and talk about how he has overcome these obstacles, and what solutions can be used for day-to-day operations.  Find out more about Copper Storage Management here: https://copperstoragemanagement.com/  Sign up for our SSI community on facebook! https://www.selfstorageincome.com/ssi-community  Join Copper Storage Management + Live Oak Bank for a discussion about self-storage remote 3rd-party management, financing and more! Mark your calendars for Nov. 17th at 2PM EST. Register now: https://us06web.zoom.us/meeting/register/tZ0tceGvrDsjHtKGAsfwMJfcgG2KKospDdyw  Our partners: 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? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/ Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  

Welcome back to Self Storage Income! Today we're answering some of our most asked questions about TAX. Specifically, how does self storage benefit from the US Tax Code?  We've invited Yonah Weiss back on the podcast for this episode. He is a cost segregation expert and has saved millions of dollars in taxes for his investors. The last time he was on, we focused on his backstory and cost segregation specifically (you should check out episode #77 from Dec. 2020). But today, we talk with him specifically about accelerated depreciation - and how you can use it to write off the depreciation of your property in the FIRST YEAR, effectively saving a small fortune in property tax.  Learn more about Yonah: https://www.yonahweiss.com/  NEW sign up for our SSI community on facebook! https://www.selfstorageincome.com/ssi-community  Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Join Copper Storage Management + Live Oak Bank for a discussion about self-storage remote 3rd-party management, financing and more! Mark your calendars for Nov. 17th at 2PM EST. Register now: https://us06web.zoom.us/meeting/register/tZ0tceGvrDsjHtKGAsfwMJfcgG2KKospDdyw  Our partners: 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? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/  

Self storage is known for its low maintenance costs and relatively low upkeep compared to other real estate types. However, offering certain features to customers, such as convenience, privacy, and improved customer service, can help you stand out amongst your competitors. Today, we're talking with Hayden Buettner from Janus international. They pioneered the NoKe automated locking system that we use on our facilities. We talk to him about how the advancement in technology, which used to be a competitive advantage, has more or less become a necessity. Additionally, how has NoKe improved our operations, and what's next for the future of Self Storage tech?  Check out Janus - https://www.janusintl.com/ NEW sign up for our SSI community on facebook! https://www.selfstorageincome.com/ssi-community  Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Join Copper Storage Management + Live Oak Bank for a discussion about self-storage remote 3rd-party management, financing and more! Mark your calendars for Nov. 17th at 2PM EST. Register now: https://us06web.zoom.us/meeting/register/tZ0tceGvrDsjHtKGAsfwMJfcgG2KKospDdyw  Our partners: Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ 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/  

Storage is incredibly localized. Generally, these 3-5 mile zones are what is considered a standard market radius. This means that storage can perform amazingly even when the economy is hurting. But the opposite is true: the market can be doing great and your facility could be failing.  How you execute and react to changing market conditions matter more and more. The market is no longer in the place where being in the market automatically yielded high returns. Consumers and investors are both feeling the pressure from economic conditions, and every decision has more of an effect today and it did just two years ago. In this episode, we discuss some of the criteria of how we look at facility markets and how to truly understand the effects of supply and demand, even in a localized area. But not only that, we also discuss the potential benefits and consequences that arise from an unstable or unpredictable market. Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Our partners: Janus International - https://www.janusintl.com/ Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ 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/  

The deals are coming back, but the economy is shifting rapidly. How do you find and land a self storage deal during a time of uncertainty?  The ability to execute and find good deals is coming back (we discussed this in the last episode). Now is the time to buy. And buyers and sellers are both facing massive industry changes in deal flow. Deal flow is increasing, and this affects prices, margin, contracts, and how brokers approach closing these deals.  We're taking you through the experience of a few of our past deals and some of the big red flags we see. What makes a GOOD deal and what should you avoid? Find out in this episode of Self Storage Income. Our guide for what to do on Closing Day: https://youtu.be/UBaqhaKfNug Thread on financing: https://twitter.com/ajosborne1/status/1581670937723695104?s=46&t=mHsxTpKT6O4qr_ttvUmlFA  Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Our partners: Janus International - https://www.janusintl.com/ Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ 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/

As the economy continues to decline: is now a good time to buy self storage deals?  What happens when the government "protects" people and business from the effects of an economic contraction (or an all-out shutdown)? The Federal Reserve raised rates AGAIN and they are scheduled to continue to raise rates until inflation is halted or reduced back to a normal level.  THIS is the time to buy.  Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Our partners: Janus International - https://www.janusintl.com/ Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ 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 is no easy feat. And one of the biggest factors to consider is, which market do I want to be in? And will that market be profitable with the size of facility I'm looking at?  With the Fed hiking interest rates to fight high inflation, the market is changing at an incredible rate. Buying a facility is no longer the "guaranteed" return on investment it has been in recent years. What are the large REITs doing in response to the changes?  In this episode, we invited Jeremiah Boucher to talk about smaller facilities in the current market, specifically in sub-prime markets. He flew all the way out to Couer D' Alene, Idaho, where we held our Self Storage Income Live Event, and recorded this podcast with us live on stage! He is a returning guest, but for those of you who don't know, Jeremiah is a value investor who specializes in the acquisition and development of alternative commercial real estate assets. He learned the real estate business from the ground up and currently owns and operates Patriot Holdings, a $300M-plus portfolio of high-performing commercial properties. Jeremiah brings a lot of value and interesting discussion to this episode. You don't want to miss this one! You can find out about Jeremiah's company here: https://www.patriotholdings.com  Be sure to leave us a review on Apple podcasts. It only takes a second and really helps us out!  My best-selling book on Growing Wealth with Self Storage is now available in audiobook format! Pick it up for free here: https://www.selfstorageincome.com/free-audiobook  Our partners: Forge Building Company - https://forgebuildings.com/podcast  Janus International - https://www.janusintl.com/ Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ 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/

Putting money into an investment deal can seem daunting - for both the investor and the sponsor. Funding a deal with private equity from investors can be extremely powerful, but it matters what happens to their money! It matters how contracts, problems, and returns are communicated and structured.  In this episode, we get to hear from Caley Acevez, who is the Director of Investor Relations here at Cedar Creek Capital. Caley's been with us since the beginning of AJ accepting investors to work with him. She has brought so much value in the form of overseeing capital raises, helping mitigate risk, administering contracts, and more.  Don't miss this incredible episode! Thanks for tuning in. Exclusive to SSI listeners, Forge Building Company is offering a FREE consultation and Complimentary Site Layout to jumpstart your development project. Find out more: https://forgebuildings.com/podcast Remember to SUBSCRIBE for our upcoming episodes - we have a roster of all-star guests you won't want to miss! Be sure to check out our partners: Janus International - https://www.janusintl.com/ Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ 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/   Want to pick up my best-selling book for free? You got it - just head over to the Self Storage Income website and download your free copy here: https://selfstorageincome.com/