Self Storage Income

What’s going on everybody, AJ Osborne here with another episode of the Self Storage Income podcast. When we set out to accomplish anything, we have to have the right mindset. The right mindset allows us to plan, execute, and survive. This is no different when it comes to self storage. We need to be able to plan, execute, and survive, and we need to be able to do it effectively and efficiently both now and in the future at scale. No, this isn’t going to be another podcast where we all sing songs and “motivate” each other. Today’s podcast aims to help you see self storage for what it really is and what it can be if you do it right. Today I’m going to talk about the top 4 things that I see people doing wrong in storage:   Not accurately measuring and identifying supply and demand Not accurately underwriting your storage deal The lack of a solid team The lack of a real business plan These are things that can devastate your storage investment if you get them wrong. But don’t worry, we’re going to dive into each one of these subjects and get you set on the right path. Combining these aspects successfully is the recipe for building a great deal. Thanks for listening everybody! AJ Be sure to go to Selfstorageincome.com to get your copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how to contact a current owner, and ultimately how to land a deal and purchase a storage facility. You can also find the Self Storage Income Podcast on: iTunes Spotify Stitcher The Self Storage Income Podcast is Sponsored by: Janus International - https://www.janusintl.com/ Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page Live Oak Bank - liveoakbank.com/incomepodcast

Welcome back everybody to the Self Storage Income Podcast! This is your host AJ Osborne. Today we have the big daddy of them all… unit pricing. If you own, operate, or are looking at investing in storage, have you every asked yourself: What should you be charging for the units at your storage facility? How do you know what the storage market can handle in your area? How much can you increase the rate of your storage units? What’s the BEST price you should charge for your storage units? If you’ve asked these questions before, you’re certainly not alone. You’d be surprised how many storage facilities we come across that are extremely under valued. They’re not charging the rates they could be. This is a great problem to have as an owner or investor, because you can immediately and simply resolve this issue. Not only that, you can increase your revenue by incredible amounts. This is what we’re going to jump into today. We’re going to cover everything unit pricing and help to answer all the questions you might have in regard to pricing units. To do this, we need to be able to accurately measure supply, demand, how to increase storage demand, value of our tenants (even over time), finding your ideal customer, and much more. One super important thing I want you to take away from this episode is to realize that each and every single one of the storage units at your facility is an individual product. I talk more on this idea on the podcast and why this frame of mind is so important. As always, thanks a ton for all your amazing support everybody. Thanks for listening! AJ Be sure to go to Selfstorageincome.com to get your copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how to contact a current owner, and ultimately how to land a deal and purchase a storage facility. You can also find the Self Storage Income Podcast on: iTunes Spotify Stitcher The Self Storage Income Podcast is Sponsored by: Janus International - https://www.janusintl.com/ Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page Live Oak Bank - liveoakbank.com/incomepodcast

Welcome back everybody to the Self Storage Income podcast, I’m your host AJ Osborne. As we all know, this past 2020 year was a little crazy to say the least. Socially, politically, economically… it was the perfect storm. But it wasn’t all doom and gloom and that certainly wasn’t the case for the storage industry. I’m super excited about today’s episode because we have the one and only John Lindsey on the podcast to share his incredible insights into what storage did in 2020 and what storage is expecting to see in 2021. Who is John Lindsey? John is a great friend of mine who has some of the most extensive storage experience of anyone I know. John came from an ownership and development side of storage. John’s father built and owned and operated storage facilities, and as any great dad would, put John to work helping to build these incredible assets. Ultimately John decided that he wasn’t super excited about pouring concrete and building the storage facilities. However, he really enjoyed the storage industry, the potential there was to help others in the space, and the incredible business opportunities there were in owning and operating a storage business. That said, John launched his own brokerage company called the Lindsey Self Storage Group in 2012. From development, to the brokerage side and financing, to owning and operating, John has done it all, and he’s done it all over the world. It’d be an understatement to say that John is an amazing source for self storage industry insights. Which again, is why I’m so excited to have him on the podcast again today. We’re going to dive into 2020, what happened, how storage performed, what we saw and what we see happening in storage for 2021. We talk about the billions of dollars being poured into the industry from some of the largest investors and private equity companies in the world. We talk trends that we’re seeing, the incredible financing and buying opportunities there are right now, and more. All said and done, storage has the recipe for success now and for years to come. But if you plan on getting in, you better do it soon. Absolutely get those note books out, listen to this episode multiple times if you have to, do what ever you need to soak up everything in this episode. Thanks for listening everybody, AJ Get in touch with John at Lindsey Self Storage Group website at: https://lindseyselfstoragegroup.com/ Be sure to go to Selfstorageincome.com to get your copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how to contact a current owner, and ultimately how to land a deal and purchase a storage facility. You can also find the Self Storage Income Podcast on: iTunes Spotify Stitcher The Self Storage Income Podcast is Sponsored by: Janus International - https://www.janusintl.com/ Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page Live Oak Bank - liveoakbank.com/incomepodcast

Welcome back everybody to the Self Storage Income Podcast! This your host, AJ Osborne.    I’m super excited about today’s episode because we have another incredible guest on the podcast today. That awesome guest is Rob Labonne.    Rob was the perfect guest to have on today because like a lot of us, he’s just getting started on his self storage investment journey. Just 10 months ago, Rob acquired his first storage facility and since then close to DOUBLED the facility’s value.    How? I’m glad you asked because we’re going to dive into all of it!    Rob shares how he found the storage facility, how he financed it, and how he dramatically increased the value of the facility in just a few short months.    As most of you know, we can’t just wait for deals to come our way. We have to put in the work and build the systems necessary to put ourselves in the path of opportunity. This is a long term game that requires long term thinking and solutions. One of the largest aspects to consider is the building of real and authentic relationships with storage owners. And not just any storage owners, but the RIGHT storage owners with just the RIGHT kind of facility that meets your criteria. Yes, we’re going to talk about those key indicators you need to look for to help you identify a great value add storage opportunity.    We’re also going to go over the exact steps that Rob took to increase the value of his facility, exactly how he financed it (and the number one thing you need to look for when financing a storage facility), how to work with the city when planning any expansions, and so much more.    Get the note pads out and get ready to absorb all the value Rob brings to the table in today’s episode.  Thanks for listening everybody!  AJ     Be sure to keep up with Rob on Twitter: https://twitter.com/roblabonne?lang=en Be sure to go to Selfstorageincome.com to get your  copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how to contact a current owner, and ultimately how to land a deal and purchase a storage facility.     You can also find the Self Storage Income Podcast on: iTunes Spotify Stitcher The Self Storage Income Podcast is Sponsored by:   Janus International - https://www.janusintl.com/ Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page Live Oak Bank - liveoakbank.com/incomepodcast

Welcome back everybody to the Self Storage Income podcast! This your Co-host Conner Skeen.   Today we’re going to dive into AJ’s step by step guide on how to get started in self storage investing. That guide is actually AJ’s best selling book “The Investors Guide to Growing Wealth in Self Storage”.   We know that there are a lot of you out there who are just starting their self storage investment journey. We couldn’t be more excited for you and we’re happy to be here to help. Getting off on the right foot is critical for any investor and we want to be sure to help give you the knowledge and the tools to be able to find and execute great storage deals.   AJ’s book is a wealth of knowledge for anyone wanting to invest in self storage. It walks anyone through from start to finish - the self storage industry, how to find deals, how to finance deals, how to analyze markets, operations, and more. Here’s the table of contents to give you an idea of the value this book holds: Chapter 1: How I Found Self Storage and How It Saved Me Chapter 2: Overview of the Self Storage INdustry and Why It’s a Great Investment Opportunity Chapter 3: How to Get Started in Self Storage Chapter 4: The Art of Valuation and Finding Deals Chapter 5: Financing Your Self Storage Facility Chapter 6: How to Evaluate the Competition and the Deal Chapter 7: Self Storage Operations: Turning Around a Self Storage Facility Chapter 8: How to Reduce Risk Chapter 9: Static Real Estate Asset to Dynamic Self Storage Business Terms and Concepts of the Trade Resources Not only does this book go over in hyper detail every one of these aspects, the information provided is actionable. Something you don’t get with so many books and resources out there.   Listen in, get ready to take notes, and if you haven’t already, be sure to pick up a copy of AJ’s book at the link below. Thanks everybody, Conner Skeen Be sure to go to Selfstorageincome.com to get your copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how to contact a current owner, and ultimately how to land a deal and purchase a storage facility. You can also find the Self Storage Income Podcast on: iTunes Spotify Stitcher The Self Storage Income Podcast is Sponsored by: Janus International - https://www.janusintl.com/ Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page Live Oak Bank - liveoakbank.com/incomepodcast

Welcome back everybody to the Self Storage Income podcast (or the AJ Osborne podcast – whichever one you’re listening to right now). I’m your host AJ Osborne and this episode was so great, we wanted to be sure to release it on BOTH of our podcasts – Self Storage Income and the AJ Osborne podcast (formerly Cashflow 2 Freedom). Are you a current real estate investor? Looking to become a real estate investor? Then today’s episode is definitely for you. Whether it’s storage, multi-family, single family, homes, manufactured homes, or pretty much any other real estate asset, the strategy and concept we’re going to cover today can apply to you all. That said, I’m extra excited about today’s episode because we get to dive into this subject that could save you thousands and even millions of dollars in taxes. The subject? Cost segregation. Not only do we get to learn about this amazing tax strategy and tool, we get to learn about if from the expert himself - Yonah Weiss. Yonah shares with us his story of how he went from being a teacher, to commercial real estate, to making taxes interesting by becoming a cost segregation expert. Yes… we used the words “taxes” and “interesting” in the same sentence… don’t worry! You’ll totally understand after listening to this episode. Saving thousands or millions of dollars in taxes is certainly an exciting idea. You might even be wondering at this point - what even is cost segregation? Don’t worry you’re not alone. As a teacher, Yonah discovered that a large number of real estate investors needed to be educated about cost segregation and the power it can hold. Yonah goes into what exactly cost segregation is, when you can use it, how to use it, and the amazing benefits it has to offer real estate investors. This is absolutely one of those episodes you’ll want to take notes on. It’s also a subject that you’ll want to learn more about. That said, talk to Yonah himself by reaching out to him at: https://www.yonahweiss.com/ and… https://madisonspecs.com/ Thanks for listening as always everybody and we’ll see you next time! AJ

Welcome back everybody to the Self Storage Income podcast, I’m your host AJ Osborne. Today’s episode is going to be a slight change of pace. We go in depth on almost every single episode on tactical and strategic steps that will either get you started investing in self storage, or that will help you take your storage portfolio to the next level. This is all great and fantastic for you guys to see and implement in your storage investing journeys, however, there’s a lot more that goes into building a storage investment business. Did you catch that? “Building a storage investment business.” Building a business and taking the steps to truly move the needle is exactly what we're going to dive into on today’s episode. For whatever reason, you most often see business and investing segmented and separated. Why is this? I have NO idea!? Building business and investing should be treated and looked at as one in the same. If you’re building a business, you’re investing. If you’re investing, you’re building business. Simple as that. Rarely though do you see investors talking about building a fully functioning, systematized, scalable business around their investment strategy (or investment vehicle I like to call them). This is a major problem and one I want to dive into today. As a storage investor, you need to prepare to build a storage investment business that is going to allow you to move the needle and to accomplish what other investors can’t. We’re going to dive into these entrepreneurial “break-away activities” that will help you get started on this journey to truly building a self storage investment empire. Thanks for listening everybody, AJ Be sure to go to Selfstorageincome.com to get your copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how to contact a current owner, and ultimately how to land a deal and purchase a storage facility. You can also find the Self Storage Income Podcast on: iTunes Spotify Stitcher The Self Storage Income Podcast is Sponsored by: Janus International - https://www.janusintl.com/ Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page Live Oak Bank - liveoakbank.com/incomepodcast

Welcome back everybody to the Self Storage Income podcast, I’m your host AJ Osborne. There’s a lot that goes into analyzing a storage facility and the market that that facility is located in. As you know from our other episodes, the due diligence process is lengthy, in depth, and is a complete undertaking. But that process is necessary to help you invest in only the best storage deals. Just one question though - is there a way to make this process more efficient? The answer is yes, and that is exactly what we’re going to dive into today on this episode of Self Storage Income. Today I’m going to introduce you all to my due diligence Probability Funnel. This a personalized process that me and team have used to help identify and secure the best storage deals. Not only that, the probability funnel measures key indicators of a storage facility and the storage market in a way that helps streamline and make the due diligence process go that much quicker. We’re going to dive into what exactly this probability funnel is, what metrics are being weighed and measured, and ultimately how to identify a great storage deal in a great storage market. At the end of the day, smart investing means eliminating the unknowns. Eliminating unknowns significantly reduces risk. And this probability funnel process helps you do exactly that. Thanks for tuning in everybody! AJ

Welcome back everybody to the Self Storage Income Podcast! This is your host AJ Osborne. We have another incredible guest episode for you today and you just might recognize the name. Zach Quick was one of our first guests on Self Storage Income and his episode has been one of the most downloaded episodes of the podcast for quite some time. That said, we wanted to bring him back on for you all for a follow up episode. Today Zach shares with us where he’s at, how far he’s come and what his next steps are to continue growing his self storage investment portfolio. As Zach has come to find, there is a lot that goes into scaling your investing across multiple facilities. Zach shares what he’s been doing to help scale and what systems he’s focusing on right now to further build upon his storage investing foundations. We talk about optimizing operations, systems building, and making that transition from owner/operator to simply owner while you have your systems do the operating for you. We also dive into how Zach continues to drive leads by speaking with other storage owners and what he’s done to build out his very own deal pipeline that you can build out too. Zach is an incredible example of someone who made the leap into self storage investing and has absolutely started dominating. Learn what’s he’s doing, how he’s doing it, and how you can apply what Zach has done to your own self storage investing journey. Thanks for listening everybody! AJ Keep up with Zach on the platforms below: LinkedIn: https://www.linkedin.com/in/zach-quick-720862a1 Bigger Pockets: https://www.biggerpockets.com/users/ZQ4444 Be sure to go to Selfstorageincome.com to get your copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how to contact a current owner, and ultimately how to land a deal and purchase a storage facility. You can also find the Self Storage Income Podcast on: iTunes Spotify Stitcher The Self Storage Income Podcast is Sponsored by: Janus International - https://www.janusintl.com/ Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page Live Oak Bank - liveoakbank.com/incomepodcast

Welcome back everybody to the Self Storage Income Podcast, this your host AJ Osborne! I’m especially excited for today’s episode and here’s why - we talk a lot about storage investing, storage deals, how to find them, how to analyze them, and so forth. Today we’re going to do something similar, but we’re going to walk through the step by step process of my very own deals when I first started investing in self storage. Ultimately, I want to show you how we went from owning ZERO storage to reaching $4 Million in just a few short years using the value add approach. When I first started in storage, there were zero resources when it came to self storage or how to invest in it. My approach in the beginning was simple - find a storage facility that cash flowed, purchase it, watch the appreciation grow along with our equity over time, w collect the cash flow, do this with a number of small facilities…. and retire. We learned a couple things - this approach didn’t really work or produce the outcome we thought it would, and there was much more potential in the self storage industry to be realized. In the episode, we go through this process of how I started, the facilities that we bought, how we found them, what we learned, and ultimately how we went from nothing to growing our wealth substantially in a relatively short amount of time with an investment that we had total control over. We talk 1031 exchanges, storage facilities and leverage, the importance of knowing what the market wants and then providing it, and understanding the real power of money, compounding, and leverage over time. Listen in, take notes, and enjoy listening in as I share our experience of fumbling our way through the self storage industry to ultimately end up where we are today. Thanks for listening everybody, AJ Be sure to go to Selfstorageincome.com to get your free copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how contact a current owner, and ultimately how to land a storage facility deal. You can also find the Self Storage Income Podcast on: iTunes Spotify Stitcher The Self Storage Income Podcast is Sponsored by: Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page Live Oak Bank - liveoakbank.com/incomepodcast