In today’s Real Estate JAM Podcast episode, our guest is Jake Chambers. We’ll talk about the potential of self-storage facilities. Are you looking for another niche to dive into? This one might be worth your while. Stay tuned!

The points below are from the 51st episode of The Real Estate JAM, where we discussed a new niche you might be able to get into, self-storage facilities.

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

Added Value to Properties

In the real estate business, there is a lot of competition. Sometimes, you need to be creative in thinking of your advantage over the competition. Sometimes, you have to think outside the box, just like Jake Chambers. Find out if self-storage does add value to his business in this episode.

Self-storage, self-earning?

In the business of self-storage, can there be a steady stream of income? Is this something that people should look into as a new business niche? Is there space to earn when you lease out space?

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

Outline of the Episode:

• [01:02] We welcome our guest, Jake Chambers!
• [02:58] Have you ever gone into anything after reading a couple of books? Do you think that you’d be brave enough to go for it? Our guest did just that.
• [07:38] Do you know anything about Self Storage? What kind of deals can be made off of them? What’s the added value?
• [10:33] What’s the average rent on a self-storage unit? How many units are needed? These are just some of the more exciting things to know about.
• [14:42] When you have a partner, how do you decide where to spend the money? How to market things? What is the decision-making process?
• [17:30] What’s the proper process for deciding how much money will be spent on an aspect of the business, such as marketing? Jake talks more about this.
• [20:18] How do you increase occupancy while also increasing rent? Are there strategies to make this happen?
• [24:02] How many units would you need to have someone on site for this self-storage? How do you plan the staffing, and what do you look for during hiring?
• [27:35] What’s your average projection or timeline to become stable in this business? Is it the occupancy rate?
• [32:02] In the Self-Storage business, syndication matters. What are the different syndication-type opportunities available out there?

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