Self Storage Income

Learn how to acquire your first or next self storage deal in 2024 by building an investing 'buy box' and avoiding rookie mistakes. Explore the benefits of property management software and feasibility studies. Discover the importance of building relationships and networking within the self-storage industry. Surround yourself with experts, access abundant resources, and enjoy the lower risk and faster growth of the current industry era. Overcome obstacles in closing deals by understanding sellers' wants, having a team, and being confident in decision-making.

The Fed chair Jerome Powell decided to stop interest rate hikes. It's in the news, it's what's trending - but is it accurate? If so, what are the effects on storage?   The potential rate drop creates a weird dichotomy. Despite wanting GDP to drop, and for unemployment to rise, the Fed changing its tune is surprising. Recessions are the most effective way to stop inflation...when it works. It's also an election year: historically, the Fed has only changed rates once before an election. It threatens the politics involved, and they want to step back.    If they're going to do something, they have to make a decision quickly.   In self storage, this affects more than just the price of a storage unit. This can hit maintenance costs, building/renovations, staffing costs, advertising, and much more. 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

Reflecting on past experiences to achieve storage goals in 2024, including handling crises and the importance of standard operating procedures. Aligning oneself with the right conditions and distinguishing between signals and noise. Making investment decisions based on reality and focusing on controllable factors in the self-storage business.

Commercial lending is a mess. Interest rates are up, deals aren’t getting done, and banks are becoming very selective with who they lend money to. And whether you’re a beginner or a veteran investor, you’re feeling the sting of struggling to find the money to make your next deal happen.    But what if we told you it wasn’t impossible to find funding even in 2024’s tough real estate market? What if you knew exactly what a bank wanted BEFORE you brought them your deal? How easy would funding be then?   In today’s show, we brought on Vice President of Capital Markets at Cedar Creek Capital, Ben Benditson, to share what investors NEED to know about today’s interest rates, predictions for 2024, and how to get a loan on your next self storage deal, even when everyone else is telling you it’s impossible.   What you’ll learn in today’s show:  - How rising interest rates destroyed demand and occupancy for many self storage operators   - “Semi-black swan” events that changed the real estate market forever  - What lenders want to see from you NOW to lend on your next deal  - DSCR explained, and the one metric banks NEED to see   - Alternative commercial lending products that’ll help you get a deal done WITHOUT the banks    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

This podcast explores the business aspects of the self-storage industry, including legal, accounting, acquisitions, and technology. It emphasizes the need for a team of professionals and discusses the importance of property management software, growth, and asset management. It also highlights the significance of evaluating goals and aspirations, networking, and forming a strong team of experts.

Investing in self storage is not a "passive" investment. It's about how the business is run. We talk a lot about the investment side of things, but what about the business itself?  In this 2 part episode, we focus on how the business side of self storage is executed, with our very own co-host Conner Skeen, who is the COO of our asset management side. He brings over key concepts and ways we approach managing the self storage business. He calls it, the 4 Pillars of the Self Storage Business. - Management - Customer Acquisition Process & Revenue Management - Maintenance - Core Departments We couldn't fit all the good knowledge and stories in one episode, so we're talking about the 4th pillar, our backend Core Departments, in the next episode. Follow the podcast so you don't miss that episode! Want to take advantage of todays market conditions with us? Invest in our opportunistic Fund 2 Here: https://cedar.cc/invest Our Sponsor - Tenant Inc. - https://www.tenantinc.com/ Ready to buy storage? Have our team do the leg work for you! Our feasibility studies: https://www.selfstorageincome.com/feasibility 

Brian Mullally, VP of Acquisitions from Cedar Creek Capital, discusses the effect of 2023 on real estate transactions, the importance of buying criteria, challenges going forward in 2024, changes in the storage market and buying criteria, decline in on-market deals in self-storage industry, analyzing market trends and cap rates, determining loan terms and building relationships with brokers, and overcoming emotions in real estate investments.

Since we have numbers and charts, this episode is better experienced over on our YouTube channel: https://youtu.be/-FYu86WdZSY  2023 SUCKED. It was a hard year for storage. We talked about how the market has changed in the last episode, but today, we want to see how those changes have affected our assets. Yes, we're sharing with you OUR NUMBERS and talking about insights. I can't control the market. You can't either. But what can we control to measure the true value of your assets? And just as importantly, how long will it take you to make changes?  Measuring performance according to a previously established plan can work well if you know how that performance is being affected. If performance is down because of something I did, then I obviously did something wrong. If it's down, but the market is what brought it down, then I need to be proactively adjusting the original plan.  That's what we did this year. We saw the numbers come in, and now we have to change our business plan just as the market has changed.  Want to take advantage of todays market conditions with us? Invest in our opportunistic Fund 2 Here: https://cedar.cc/invest Our Sponsor - Tenant Inc. - https://www.tenantinc.com/ Our architecture services can be found here: https://cedar.cc/services

Want to take advantage of today's market conditions with us? Learn more: https://cedar.cc/ The Self Storage Market is now more different than ever. This is the first time we're seeing the impact of high interest rates in this industry. All the policy changes in the last year have culminated in us approaching storage in a way we have never before. What's going on with the self storage market? In this episode, Conner and AJ break down what they're seeing in their private equity side as well as the operations side. If you're an investor, owner, or wanting to get into it - this is a time of consolidation that will impact every corner of our industry.   Our Sponsor - Tenant Inc. - https://www.tenantinc.com/ Our architecture services can be found here: https://cedar.cc/services

When Jonas started investing in Self Storage, he sent out turkeys to storage owners in his area - TURKEYS - during the Thanksgiving season. He didn't use mailers or run ads, but was able to secure 3 deals, despite this unconventional "tactic." Our guest today, Jonas Duckett, now owns over 30 facilities that he acquired with his wife. His valuable insight into the dealmaking process is why we wanted him on our podcast - to share them with you!  Connect with Jonas! https://www.storeitquick.com/  Want to take advantage of todays market conditions with us? Invest in our opportunistic Fund 2 Here: https://cedar.cc/invest Our Sponsor - Tenant Inc. - https://www.tenantinc.com/ Our architecture services can be found here: https://cedar.cc/services