In the midst of the recent bank collapses, economists and investors alike are shuddering at the impact of high cost of capital and the Fed's continual interest rate hikes. Banks are extremely nervous and wary of investments - all investments. INCLUDING storage. Why is this happening, and how will it affect us? When we saw storage being oversupplied with falling demand, we knew a bubble was coming. Now it's here.  When we look at investing in self storage, we always underwrite a "worst case scenario" - what will happen to our money if rates spike or cashflow wasn't as expected? There's a t ..read more

Welcome back everybody to Self Storage Income! Today we have an exciting guest, Mike Burnam, on to talk about the current state of self storage markets - particularly smaller, tertiary, and subprime markets - as the bubble created by the pandemic is starting to pop.   Mike is the CEO of StorageMart and has been in the industry for over 42 years, with over $4 billion worth of self storage. He has experience with being publicly traded then went private, and has operated in the US, Canada, and the UK.  So what's going on with storage? Debt is harsh, ChatGPT is disrupting Googl ..read more

The economy is shuttering: with the Fed raising rates trying to slow down inflation, banks are responding differently to investors than they used to. Developments aren't getting approved as much as they used to. What does this mean if you are wanting to invest in, build, or acquire a new storage facility?  Today we are joined by Anna Taylor, who is the head of Self-Storage Lending at Live Oak Bank and she is an absolute self storage lending expert. She's kept a close eye on the industry over the last decade. We talk about the market conditions right now, what she's seeing from a lend ..read more

When buying a self storage facility, the sale price isn’t always market value - if it was, we’d live in a perfect world. Thats why having an appraiser come out and inspect the property can be tremendously valuable. They can tell you what exactly adds or subtracts from market value and determines the final sale price. In this episode, special guest Tim Garey from Cushman & Wakefield Self Storage sheds light on the appraisal process. With over 20 years of experience in commercial real estate, Tim has valued a wide variety of properties: shopping centers, industrial, golf courses, and...self ..read more

In this special Q&A episode of Self Storage Income, we answer YOUR questions directly. We will be addressing - The State of Self Storage in 2023 - Developments: The Pros & Cons - Finding Investors for a Boat & RV Facility with much more to come. Thanks to all those to have supported us and sent us questions. You can send your own via our YouTube channel, Instagram, or Twitter.  https://www.youtube.com/@SelfStorageIncome  https://www.instagram.com/ajosborne/  https://twitter.com/AjOsborne1  Need help funding a deal? We can help you figure out what ..read more

Once you've figured out which market to go in and what price you should pay, the next step is to secure the funding and financing for your deal. Lending is a tricky business - there are numerous types of loans and fund structures each with their unique benefits, regulations, and interest rates. Each of these factors will directly affect how your deal functions now and years into the future.  Today we are talking to Ben Arnoson, our newest addition to the Cedar Creek team. He's a broker who has helped us fund numerous deals that we now own. We're going through the Pros and Cons of differen ..read more

Valuation is a key step in buying a self storage facility. You need to know how much it costs, after all. Price is a measurement of value. But in commercial real estate, value is not determined only by the price. You also need to look at things like revenue, growth, expenditures, and operations. It’s not just a single line item. Not anymore.  As an investor, what are those drivers that determine the total cost?  As a seller, what factors in the market affect your property right now?  That and more in this episode! Our partners: Live Oak Bank - liveoakbank.com/incomepod ..read more

Self Storage hasn’t always been the real estate class that we all know today. It’s one of the youngest and was originally developed under drastically different circumstances. Cities often approved storage to gain an income producing property that didn’t stress the infrastructure by adding more traffic or population.  Understanding the key changes from how storage started and how it got to where it is today will shed some light into what exactly affects the demand, markets, and revenue. What makes it tick?  Today, we’ve invited Steve Mirabito, President of StoragePRO, Inc and a board ..read more

Starting out in Self Storage can seem scary and complicated. Even if you've studied the topic and the math, nothing beats experience in the industry and knowing what metrics to achieve and what pitfalls to avoid.  Ben Kall is a real estate agent and broker out of Minnesota. He's dealt in multi-family, triple net lease (NNN), and now Self Storage. His first investment (outside his first home) was a $1.5 million facility. We've invited him on to share some of his experiences just starting out, what it's like,and what you need to know about acquiring your first facility! Check out Ben's comp ..read more

In the last 6 months, the Self Storage market has shifted. We've discussed this before, but in today's episode, AJ and Conner discuss how this affects occupancy and revenue. Namely, how can you increase your revenue despite the market conditions driving occupancy down?  AJ and Conner are fresh off of an internal meeting where they reviewed a market he currently owns more square footage than the REITs in that area. So for this episode, he pulls information from his accounting and underwriting teams to break down the changes happening and what needs to be adjusted.  Don't miss the mark ..read more