Episode 68: The Why and How of Self-Storage

April 24, 2023 melissa Real Estate Comments Off on Episode 68: The Why and How of Self-Storage

Episode 68: The Why and How of Self-Storage

In today’s Real Estate Jam Podcast episode, we have Fernando Angelucci as our guest!  We talk so much about multifamily on the show, so here’s a different asset class you might want to consider. Stay tuned!

The points below are from the 68th episode of The Real Estate JAM, where we discussed the why and how of self-storage as well.

Tune in to the full episode on YouTube, Spotify, or Apple Podcasts.

 

Self Storage vs Multifamily

Self-storage can be a better option than multifamily if someone needs to store belongings or items that they don’t have space for in their home or apartment. Self-storage units can provide additional space for a variety of needs, such as business inventory or seasonal items, without the expense of renting a larger living space. Additionally, self-storage can offer greater flexibility in terms of access and usage, as tenants can typically come and go as they please.

 

Self Storage for the Newbie 

For someone new in real estate who wants to get into self-storage, it’s important to research the market, consider the location, evaluate the facility, develop a solid business plan, seek advice from experts, and consider partnering with a self-storage operator. This is the best way for new investors to maximize the potential return on investment in the self-storage market. This also helps new investors increase their chances of success in the self-storage industry.

Want to learn more? You can listen to the full episode on YouTube, Spotify, or Apple Podcasts.

 

Outline of the Episode:

  • [00:03] Welcome to the show.
  • [03:12] Our guest is a risk taker. He applied for 60 cards in one night, got 12 approved, and cash advanced up to $100k. Would you do something like this?
  • [06:03] What do you know about self-storage? Did you know that this can be a lucrative business that you can get into?
  • [08:06] Finding the right partner to help you out is crucial when you want to make a change but don’t have enough funds to do so. Do you have someone in mind who could help you do this?
  • [09:35] What’s a usual timeline when someone wants to make a change from multi-family to self-storage? We discuss that here.
  • [14:49]How can someone new learn to do self-storage? Are there tips and tricks to make it easier?
  • [20:08] Knowing the demographic data of a place can definitely boost up your self-storage business. Find out why it matters.
  • [24:11] So how do you lower property taxes? Here are a few tips.
  • [30:18] What level in self-storage can someone go into if they are just starting out? At what point can you say that you’re ready for the next phase.

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