Self Storage Income

Guest Dillon Leonard achieved financial freedom at 27 by building a self storage business in small towns. He shares secrets on acquiring, managing facilities remotely, raising rents, and competing with REITs. Learn how he transitioned from rental properties and find out his tips for success in self storage investing.

Looking for off-market self storage for sale? Wondering how to get around the high down payment self storage investing requires? How do you measure demand for an area you’ve never invested in? Today, AJ and Conner are answering some of the most commonly asked self storage investing questions so you can get your first or next facility even faster. Think of this as a “Self Storage Investing for Beginners” FAQ session as we get into the nitty-gritty of finding deals, measuring demand, raising down payments, increasing revenue, and more! If you’re still searching for your first facility, worry not. AJ details the exact method he used to get his first small off-market self storage facilities and how to get an owner to ask YOU to buy the property from them. We’ll also get into measuring demand and whether you should use software or go “secret shopping.” Will a ten-percent down loan pencil out for your next facility? And speaking of down payments, how do you raise the six-figure sum you’ll most likely need to buy your first self storage investment?  We’re answering all those questions and a whole lot more in this episode!  What you’ll learn in today’s show: How to find small, off-market self storage facilities in your area (and get owners to sell to you!) Measuring demand BEFORE you buy a facility and how we know a market is worth it Whether an SBA ten-percent down loan is worth it (and if you can even use one) Why you DON’T need to wait to save up a down payment to invest in self stoarge  Exactly what we do within the first thirty days of owning a facility to increase its value Signs that a facility has poor management and could have significant value-add potential  Raising revenues on your first or next facility through smart asset management Self storage smart locks and how they’ve been working at even our biggest facilities  — Growing Wealth in Self-Storage 2.0 Episode 250. The Self Storage Industry is Starting to “Thaw” (Take Advantage Now!) How to Find Off-Market Self Storage Deals in ANY Market My Most Profitable Self Storage Investing Strategy (with numbers)

Former chiropractor Russell Nersesov shares his self storage investing journey at age fifty, buying six facilities in four years. He discusses career transitions, finding deals in tough markets, making offers, and essential investor criteria. Brokers’ adjustments, buying confidence, and market insights are highlighted. The focus is on small markets with low competition and high upside, offering valuable advice for aspiring investors.

The self storage industry is starting to “thaw” as renters return and occupancy begins to rise. But this isn’t happening at every facility. Many self storage operators are still struggling to get new customers in the door, and if your facility is having the same problem, this episode is exactly what you need. We’re peeling back the curtain and sharing exactly what we’re doing to raise occupancy, beat our competitors, and get units rented before the busy season ends. Last week, we talked about a return to “normal” for the self storage industry, with significant year-over-year storage demand drops. Now, it seems that we’re finally getting our busy season back as May rolls in and more facilities experience a seasonal boost. If you’re not taking advantage of this, you need to act fast. Not doing so could force your facility into higher vacancy for longer while your competitors take the customers passing you by. We’re sharing our portfolio stats, the strategies we’re using to increase occupancy, and the operational changes we’re making to bring customers back. If you follow our lead, you could see your facility start to fill up fast this summer! What you’ll learn in today’s show: Why the self storage industry is starting to ‘thaw” and why 2025 - 2027 may be the best years yet Exactly what we’re doing right now to bring in more customers and keep occupancy high Our actual self storage facility stats and why we saw a big uptick in May rentals Operational changes you MUST make if you want to have high occupancy at your facility Whether or not lower interest rates will reignite the hot housing and storage markets Metrics we’re watching closely that point to low or high occupancy rates Get my new book that teaches you everything I know about self-storage- https://a.co/d/aRSKcSq  Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 📌 Ready to buy storage? Have your deals personally evaluated by AJ and our team! https://www.selfstorageincome.com/feasibility 📉 Take advantage of today’s market conditions and invest with us- https://cedar.cc/invest 

Self storage rates are dropping year-over-year with an increase in supply. The market is shifting to 'normal' conditions with declining rates and rising in-place rents. Learn about the impact of new supply in Orlando and Tampa, and how to navigate pricing challenges in changing markets. Discover strategies to increase occupancy by changing unit sizes and focusing on customer service amidst fluctuating rates.

Get my new book that teaches you everything I know about self-storage https://a.co/d/aRSKcSq  In the past 4-5 years, so many new investors have come into the storage industry (which I love). However, the issue is that all of these new investors came into the industry when self-storage was at its absolute peak. It means that for the past few years you could basically just buy a facility and it would increase in value simply because there was so much demand for self-storage. Back in 2020, I called it the self-storage bubble, and now the bubble has popped. In this episode, I talk about my BRAND NEW book that just released (June 2024). This book is the 2.0 version of my first book and took me over 2 years to write. It literally contains everything I could fit into those 450 pages about the storage industry. If you want a sneak peek of my book - this episode is for you. Lastly, I just want to give a special thank you for all of my podcast listeners throughout the years. It’s because of you that my first book hit the Amazon Best Seller and inspired me to write the second book. Now the 2.0 version hit Amazon Best Seller again in less than a week. So seriously, thank you. Thank you for being a listener throughout the years and for helping turn Self Storage Income into what it is today. Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 📌 Ready to buy storage? Have your deals personally evaluated by AJ and our team! https://www.selfstorageincome.com/feasibility 📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest 

In this episode of the Self Storage Income Podcast, we delve into the crucial aspects of raising capital and working with partners and investors. Join us as we explore proven strategies for securing funding, building strong investor relationships, and leveraging partnerships to grow your self-storage business. We emphasize the importance of recognizing that you can't do it alone – working with others not only broadens your resources but also creates opportunities for people to invest alongside you. This episode offers valuable insights and practical advice to help you navigate the complexities of capital raising and partnership building, whether you've never invested or have dozens of times. Tune in to learn how to maximize your capital, foster collaborative success, and take your self-storage investments to the next level. Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 📌 Ready to buy storage? Have your deals personally evaluated by AJ and our team! https://www.selfstorageincome.com/feasibility 📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest  

Self storage investing vs. multifamily investing: Which wins in 2024? With the popularity of rental property investing rising over the past few years, competition has remained hot for beginner investments like duplexes, small multifamily properties, and house hacks. But if you’re looking to grow your money the most, is self storage a better pick? Would you rather deal with a few tenants and toilets or hundreds of customers simultaneously? We’re breaking down each of these investments piece by piece, from the prices to buy each investment property to raising the property value, cash flow, evictions, auctions, competition, appreciation, and more. Both self storage and multifamily real estate have huge benefits for those willing to put in the work, but is the stress of a midnight toilet call from your tenant worth the benefits that residential real estate provides?  Plus, if you think you don’t have the money to buy a commercial real estate investment, think again. We’ll share examples in this episode of how you can buy a self storage facility for less than a duplex in your area. Don’t believe us? Stick around, and we’ll show you precisely what we mean! What you’ll learn in today’s show: Residential real estate vs. self storage investing and which is a better buy in 2024 Property price differences and how it may be even cheaper to buy a self storage facility in your area More units = more problems? Why it’s easier to have a hundred customers than ten tenants  Evicting tenants and the considerable benefit self storage has that multifamily can’t beat  Forced appreciation and how to use self storage to boost your wealth Multifamily vs self storage competition and which is easier to buy in today’s market 

Industry experts Andrew Freeman and Jon Marshalla discuss the changing landscape of the self storage sector, highlighting the struggles faced by operators in recent years. They share insights on building a successful portfolio, targeting new markets, and navigating industry shifts. The conversation covers key topics like strategic growth, cost management, market trends, acquisition strategies, and the importance of adapting to technological advancements and changing consumer behaviors.

Today’s guest built a twenty-five facility self storage business in just two years! Even more impressive? He didn’t come from a real estate background, yet he was able to build a serious storage portfolio across multiple states, all by “taking the punches” as they came. If you want to quit your job and start investing full-time, this is an episode you CANNOT miss. You’ll hear how Faraz Hemani left his high-paying Google job to invest in small-market, mom-and-pop self storage facilities.  The question is, did it pay off? After making some good income at his tech sales job, Faraz needed somewhere to park his money. Like most people, he thought rental properties were a great option, but as the market began to climb, Faraz realized that he had no control over whether his portfolio’s price went up or down. He sold off his rental properties and found an asset he could control—self storage. Now, two years later, Faraz has a self storage portfolio of over twenty-five facilities across the southern United States. How did he scale up so quickly? Which markets is he targeting? And how does a complete novice get that many facilities so quickly? If you want to learn how, stick around for this episode as Faraz shares his buy box, favorite markets, and which facilities small investors should target. What you’ll learn in today’s show: How to quit your job and build a self storage business (and whether it’s worth it) Why self storage beats rental properties IF you can master THESE skills Faraz’s exact buy box and the “mom-and-pop” facilities new investors should look for Why Faraz DOESN’T buy in the big cities but sees huge success in smaller towns  Syndicating, raising private capital, and when it’s time to take on investor money The truth about entrepreneurship and why 99% of people CAN’T handle it  Faraz’s LinkedIn Pebble Ridge Capital Group  Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ Check out Storelocal! Our national self storage brand.  https://www.storelocal.com/ Ready to buy storage? Have your deals personally evaluated by AJ and our team!  https://www.selfstorageincome.com/feasibility  Take advantage of today’s market conditions and invest with us:  https://cedar.cc/invest