The BIGGEST Risks to Self Storage and How You Can Reduce That Risk
Welcome back everybody to the Self Storage Income Podcast! This is your host AJ Osborne.
That’s right, you read the title of this episode correctly. That “Risks to Self Storage” may have caught you off guard. If you’ve spent any time in the storage world or even looked at purchasing a facility, chances are, you’ve heard all the hype:
“Self storage is recession proof.”
“Self storage is a cash cow!”
“Build it and they will come.”
You probably haven’t heard much about the risk and trust me, there are very real risks in self storage investing.
Let’s get some facts straight right out of the gate - you cannot eliminate all risk. You can only plan for risk and do what you can with what you can actually control. That’s right, nothing is ‘risk proof’ and honestly, thinking something IS risk proof is insanely risky.
So what exactly are the biggest risks to self storage?
I’m glad you’re asking this question and even more glad you’re seeking an answer. We should never get carried away by all the hype and should be extra cautious whenever there’s hype surrounding anything. I’m going to share with you guys the biggest risks to self storage as an asset and I’m also going to share some risks regarding the self storage industry as a whole. No this isn’t an all doom and gloom, this is taking a look at real risks and preparing you to face them head on.
Thanks for tuning in 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.
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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
