Why People Fail in Self Storage (4 Things You Need to Get Right)

What’s going on everybody, AJ Osborne here with another episode of the Self Storage Income podcast.

When we set out to accomplish anything, we have to have the right mindset. The right mindset allows us to plan, execute, and survive. This is no different when it comes to self storage. We need to be able to plan, execute, and survive, and we need to be able to do it effectively and efficiently both now and in the future at scale.

No, this isn’t going to be another podcast where we all sing songs and “motivate” each other. Today’s podcast aims to help you see self storage for what it really is and what it can be if you do it right.

Today I’m going to talk about the top 4 things that I see people doing wrong in storage:

1. Not accurately measuring and identifying supply and demand
2. Not accurately underwriting your storage deal
3. The lack of a solid team
4. The lack of a real business plan

These are things that can devastate your storage investment if you get them wrong. But don’t worry, we’re going to dive into each one of these subjects and get you set on the right path. Combining these aspects successfully is the recipe for building a great deal.

Thanks for listening 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.

You can also find the Self Storage Income Podcast on:

• iTunes
• Spotify
• Stitcher

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