Self Storage Income

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/

Partnerships can be a huge net positive for your self storage business, especially if the partner brings something different to the table. Unfortunately, they’re also the number one reason self storage deals fall through, and when partnerships fail, it’s messy. Good news—today, we’ll show you how to set up your partnership for success. What’s the key to a long and profitable partnership? You need to prepare for the worst first—divorce, death, and dissolution—and work back from there. In this episode, AJ and Connor will show you how to do just that. You’ll learn about some costly mistakes to avoid and some major red flags to watch out for when teaming up with other investors, and AJ will even share his biggest wins and losses from past partnerships. If you’re new to self storage investing, maybe you don’t possess the knowledge, experience, or capital to take down a self storage facility on your own. But you might have the one thing wealthy investors don’t have—time. Hunt down the right deal and investors will flock to YOU. Don’t believe us? Stick around and find out why! What you’ll learn in today’s show: The number one reason why most self storage deals fall through How to properly structure your own self storage partnership The three financial “mechanisms” to account for in a partnership AJ’s biggest wins and losses from current and past partnerships The easiest way to create value that attracts other (wealthy) investors The only way to maintain “control” in a self storage partnership — Get the AJ Osborne Newsletter https://www.selfstorageincome.com/newsletters/aj-osborne-playbook  Join the SSI Community https://www.selfstorageincome.com/learn  Join the Inner Circle https://www.selfstorageincome.com/inner-circle  __ 📌 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/    🖊️ Enter our survey for a chance to win a signed copy of AJ’s Book: https://form.asana.com/?k=da0pR8v74pC8OEgx9dgKRQ&d=1203571084143207

Self storage has been a “goldilocks” asset for the last 15 years, but it’s a little harder to find opportunity today. If you’re willing to get your hands dirty, though, you can create massive value with self storage conversion projects, and just one or two of these deals could make you VERY wealthy! Today, we’re chatting with Chris Genard and Ronald Fremin—college friends turned self storage investors and co-founders of Safe Space Companies. By combining Chris’ acquisitions expertise and Ronald’s construction background, the duo has built a portfolio of 12 self storage facilities, nine of which were converted from old buildings—including bowling alleys, hospitals, and big box retail stores. In this episode, you’ll learn how buying these properties at a deep discount and repurposing them for storage can be a highly profitable strategy!  If you stick around, Chris and Ronald will show you the pros and cons of ground-up construction and conversions, how to find and analyze conversion deals, and the secrets to maximizing your square footage and increasing revenue. Whether you’re looking to buy your first facility, develop new facilities, or convert old buildings into storage, there’s something in this episode for you! What you’ll learn in today’s show: How Chris and Ronald built their self storage empire from scratch Turning a huge profit by converting old buildings into self storage facilities Creative ways to maximize your facility’s square footage (and revenue!) How to find and analyze potential self storage conversion deals The pros and cons of ground-up construction and converted facilities — Safe Space Companies - https://www.safespacecompanies.com  📌 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 NEW Book: https://form.asana.com/?k=da0pR8v74pC8OEgx9dgKRQ&d=1203571084143207 🎙️ 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 for $1 teaching you everything he knows about self-storage https://a.co/d/aRSKcSq 📉 Take advantage of our current self storage deals HERE: https://cedar.cc/invest 

Self storage is a seasonal business, so if you’re not capitalizing on the busy and slow seasons, you risk your entire year of revenue. Why do we raise rates in the winter, strategically encourage tenant turnover before spring, and constantly obsess over occupancy by unit size? Today, we’re bringing on Jesse Harmon, Cedar Creek’s Director of Revenue Optimization, to reveal our proven game plan for self storage seasonality. This WILL make or break your facility, so get this RIGHT!   We’re about to enter (if not already in) the “busy” season of self storage. People are moving, spring homebuying is picking up, and you BETTER have units ready to lease at your facility—at the highest price possible. Have units below market rates that need to reach street-level pricing? Jesse shares the data to look at before putting in a rent raise and how to “test” higher rents so you can keep the most high-paying customers.   Next, we’re talking about leads: how to get them at a low cost—or even for free—and which marketing services we use most to fill our pipeline with self storage renters. Plus, before paying a service six months’ rent to get a customer, calculate this CRUCIAL metric to see precisely how much you should pay per lead.  What you’ll learn in today’s show:   Self-storage seasonality and how we optimize for busy and slow seasons  “Testing” new rental rates and the one metric that is a sign you can raise rents higher Why you WANT move-outs (especially in one season) to maximize your facility’s revenue  The metrics you should be looking at every day to guide what moves to make at your facility Marketing tactics we use to get more leads and customers while keeping costs low Helpful Related Articles: Calculating For Marketing: https://www.selfstorageincome.com/blog/market-dynamics-key-metrics-and-Insights-for-smart-investments  How To Increase Revenue:  https://www.selfstorageincome.com/blog/how-to-increase-revenue-in-self-storage-investing Why Occupancy Doesn't Matter The Way You Think it Does:  https://www.selfstorageincome.com/blog/why-occupancy-doesn-t-matter-in-self-storage  — Resources Mentioned: 📉 NowMetrics: https://nowmetrics.co/ 📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/   🎙️ Apply to be a Guest On Self Storage Income HERE: https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207  

Self storage is much more than a piece of real estate, and if you’re not “in the business of storage,” your investment is doomed to fail. Today, AJ and Conner will give you the blueprint for running not just a functional self storage facility but a profitable self storage business you can scale! Your customers might see a large metal box, but there is much more going on behind the scenes of your self storage business—including people, operations, systems, and processes—that will make or break your success. In this episode, AJ winds back the clock and shares why he got into self storage investing in the first place, the four “pillars” he used to build his business, and the secrets that allowed him to scale a company that is now worth several hundred million dollars! Along the way, you’ll learn why you need to prioritize talent—even if it means taking a temporary cash flow hit—and how to transition from “wearing many hats” to creating specialized roles and departments in your business. You’ll also learn the dos and don’ts of people management and why you can’t afford to stop learning, even as you delegate responsibilities! What you’ll learn in today’s show: How to build and run a profitable self storage business in 2025 The four-bucket strategy AJ used to build his own company The number one mistake that causes new self storage owners to fail Common operational expenses that many investors don’t account for How to effectively manage the people within your self storage business The one thing you can’t afford to do when hiring a new employee — Enter our survey for a chance to win a signed copy of AJ’s NEW Book - https://form.asana.com/?k=da0pR8v74pC8OEgx9dgKRQ&d=1203571084143207  Sign up for the Self Storage Income newsletter - https://www.selfstorageincome.com/newsletter/ 

Trump’s tariffs are back, and they could send shockwaves through the self storage industry. With new tariffs on building materials, development costs are rising, demand is shifting, and investors need to prepare. Whether you’re a self storage owner, developer, or investor, these US tariffs could impact everything from occupancy to rental rates and long-term supply and demand. At the time of this recording, Trump’s tariff policies remain in place, affecting trade with Mexico, Canada, and China. With uncertainty surrounding US tariff negotiations, how will these changes reshape the self storage industry? Will new restrictions drive rents up, slow development, or create unexpected opportunities? We’re explaining the first, second, and third-order consequences of these tariffs, breaking down how they affect self storage investors at every level—from REITs to mom-and-pop operators. Plus, what lessons can we learn from previous tariffs and economic cycles, and how should you adjust your self storage investing strategy moving forward? What you’ll learn in today’s show:   How Trump’s tariffs could impact self storage development costs Why higher steel prices could slow new facilities and reduce supply How shifting trade relationships with Mexico, Canada, and China affect self storage industry players What happened in 2018’s US tariff cycle and what it means for today Whether storage rental demand will rise as new development projects stall (good news for owners?)  Why you MUST update your underwriting/analysis for these new tariffs  — Why U.S. Debt is Everyone’s Problem (Including Yours) - https://youtu.be/DFDZwj64EeQ?si=9yppssHb01hhcWUr

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    Brady McDonald is not only a fellow self storage investor but also the founder of Barefoot Land Co., a company that specializes in acquiring and entitling land for self storage development. Only a few years ago, Brady owned a large portfolio of rental properties in Canada. But when he realized that “you can’t eat equity” and needed more cash flow, he packed up his young family, moved to the US, and started a business that sources land off-market, entitles it, and then sells it to other developers. He has even developed a couple of his own self storage facilities, too!   In this episode, Brady shares his journey into self storage investing, the major changes he’s noticing throughout the self storage industry, and the steps he takes when analyzing a market for development opportunities. Stay tuned if you want to know where rental rates are headed and where class A storage could take off in 2025! What you’ll learn in today’s show:   Crucial metrics to look at when analyzing a self storage market Forecasting where storage rental rates are headed in the next 12 months The “smaller” markets where class A storage could explode in 2025 Building a cash-flowing business to offset low-cash-flow investments Brady’s journey from residential real estate to self storage investing  — Barefoot Land Co.: https://www.barefootlandco.com Brady’s Instagram: https://www.instagram.com/brady.mcdonald84   📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 📑 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/  🎙️ Do you have a great story to share on the Self Storage Income 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