233 episodes

The authority on creating wealth and income through self storage.

Self Storage Income AJ Osborne

    • Business
    • 4.9 • 565 Ratings

The authority on creating wealth and income through self storage.

    237. How to Improve Operations - This is how we compete w/ storage REITs!

    237. How to Improve Operations - This is how we compete w/ storage REITs!

    Big REITs can raise and lower prices whenever it suits them - but is this actually the best way to treat your customers? We don't think so.

    Instead, we focus on operations - how can we improve, so the customer gets a better product??

    Our operations team has been visiting our facilities to look at what we can do to improve the value we provide to customers. Are we missing a piece of equipment that would make cleaning easier? Are we making sure we respond to customers' concerns in a timely manner? Then, how do we pass this feedback along from customers to employees to managers? 

    These are all critical areas of day-to-day business that hugely impact our customers' experience. This is how we compete with the big REITs. They have the means to slash prices that many operators cannot afford. But what you CAN do is to IMPROVE the value you provide for the money. 

    If $90 can get you a bigger unit for the same cost as a smaller one, making this known to your customers when they're looking to purchase can be a huge win and help you stand out from the REITs that move you in at $50 then jack up the prices in a few months. As a customer, which company would you think more positively about? 

    We talked about the Pros & Cons of buying out of state in a recent YouTube video, but in this episode, we dive deeper into the ins and outs - the caveats, the behind-the-scenes - of how we manage our facilities despite them being hundreds of miles away.

    Enjoy this podcast? Leave us a great review wherever you listen! 

    Ready to buy storage? Have your deals personally evaluated by AJ and our team! 

    https://www.selfstorageincome.com/feasibility 

    Take advantage of today’s market conditions and invest with us: 

    https://cedar.cc/invest 

    Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 

    • 27 min
    236. Long-Term Effects of COVID on Self Storage w/ Dane Elefante

    236. Long-Term Effects of COVID on Self Storage w/ Dane Elefante

    Self Storage was hit during the COVID-19 shutdown. But during that time, storage saw a surge in demand, which put it ahead of many other asset classes. It reacted in a way that many thought not possible in a recession.  

    But the problem is, the industry reacted very strangely. There became an assumption that you can succeed in storage with very little effort or improvement. As the economy shifts back towards the pre-pandemic normal, this approach HAS to change. The market will not simply work in your favor "just because."  

    In this episode, we talk with Dane Elefante about how the industry has shifted in recent years, but more importantly, how the shutdown impacted the mindset of storage owners and operators. And how that no longer works today.  

    Dane is the Chief Operating Officer at Platinum Storage Group. He has 16 years of commercial real estate experience in the self-storage property sector, and leads the firm’s data analytics business to integrate property-level, portfolio-level, and market data to inform sub-market location and design decisions.

    Learn more about Platinum here: https://platinumstorage.com/ 

    Ready to buy storage? Have your deals personally evaluated by AJ and our team! 

    https://www.selfstorageincome.com/feasibility 

    Take advantage of today’s market conditions and invest with us: 

    https://cedar.cc/invest 

    Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/ 

    • 1 hr 10 min
    235. Real Talk w/ AJ

    235. Real Talk w/ AJ

    It's real. It's talk. It's Real Talk w/ AJ.

    Ready to buy storage? Have your deals personally evaluated by AJ and our team! 

    https://www.selfstorageincome.com/feasibility 

    Take advantage of today’s market conditions and invest with us: 

    https://cedar.cc/invest

    • 33 min
    234. "Contactless" Self Storage - Is the Technology Ready?

    234. "Contactless" Self Storage - Is the Technology Ready?

    Storage tech has not kept up with the times - just think: how easy was it to book a storage unit vs booking a flight? Or ordering off of Amazon? 

    Large companies have condition us, the consumers, to accept new methods of paying for goods and services. We have contactless payments, Apple/Google Pay, Amazon Prime Two-Day shipping, and many more. But what does this have to do with self storage?

    We brought back Lance Watkins, the CEO of Tenant Inc., who specializes in self storage management software and technology. His expertise in the field allows him to point out several common weak points that the storage industry suffers from compared to other businesses today. 

    Stroage operators are missing out on all the technology advancements of the last decade. It's now possible to rent your facility completely contactless, cancel or move out of your unit, and have that listing be reposted to your website for a new renter. 

    How are YOU using tech to make your facility more efficient? As a customer, is it REALLY easier or did it just complicate your life? You have to think about this when you buy, invest, or even rent from a storage facility. 

    Check out Lance's company Tenant Inc. (who is also a regular podcast sponsor here!) - https://www.tenantinc.com/

    Ready to buy storage? Have your deals personally evaluated by AJ and our team! 

    https://www.selfstorageincome.com/feasibility 

    Take advantage of today’s market conditions and invest with us: 

    https://cedar.cc/invest

    • 45 min
    233. Can you Make Money from Cell Towers on your Storage Property? w/ Hugh Odom

    233. Can you Make Money from Cell Towers on your Storage Property? w/ Hugh Odom

    Cell towers play an integral role in our modern world - but they also impact the self storage industry directly. We bought a facility years ago that had a cell tower onsite. We put $800K down, but in the first 2-3 years, we received $500K back utilizing the cell tower on our property. 

    Today, we bring back Hugh Odom, co-founder & president of Vertical Consultants. He works with property owners presented with cell tower leasing opportunities. Understanding the true value of that lease agreement can impact not only where the tower is, but your surrounding property as well. Hugh brings his years of experience as a lawyer from AT&T - he knows the book inside and out.

    Cell towers can be a GREAT play - BUT the people in the mobile technology industry know exactly what they're doing - and how they can beat you. 

    So how does a property owner take on this kind of company? This, and much more in this week's episode of Self Storage Income! 

    Check out Hugh's business here! https://www.celltowerleaseexperts.com/ 

    Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/

    Ready to buy storage? Have your deals personally evaluated by AJ and our team! 

    https://www.selfstorageincome.com/feasibility 

    Take advantage of today’s market conditions and invest with us: 

    https://cedar.cc/invest

    • 44 min
    232. Are Self Storage Price Drops a Lie? Well, sort of...

    232. Are Self Storage Price Drops a Lie? Well, sort of...

    Like any industry, self storage has recently adopted the idea of "promotional pricing." Think "first month's rent" for housing or "device trade in credit" for buying the newest smartphone. At some point, it is just too good to be true. 

    There's a fine line between "promotional" and "false advertising." Attracting the right customer base - and getting them in the door the RIGHT way - is what Conner and Jesse Harmon talk about in this episode of Self Storage Income.

    Jesse recently got back from the Tenant Inc. Innovation Conference, where there was a lot of discussion on customer acquisition, customer service, and the role of AI in revenue management. The overwhelming consensus in the industry (particularly the REITs), is to lower prices, get people renting, and then jack up prices. But that takes the choice away from the consumer (and as a consumer, you may feel swindled or ripped off. Rightly so!). Questionable ethics aside, is this really a sustainable long-term strategy? Is there any other way? 

    Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/

    Check out Storelocal!

    https://www.storelocal.com/

    Ready to buy storage? Have your deals personally evaluated by AJ and our team! 

    https://www.selfstorageincome.com/feasibility 

    Take advantage of today’s market conditions and invest with us: 

    https://cedar.cc/invest

    • 38 min

Customer Reviews

4.9 out of 5
565 Ratings

565 Ratings

Lwl64 ,

Amazing info

Self storage income opened my mind to an amazing idea in real estate I’m thinking about taking this route now.

Tayasay ,

Hidden Niche Of Real Estate

I loved listening and learning more about the self storage industry. I’m new to this area so I will be binge listening to get all the info I can! Thanks for being a great host :)

Orob03 ,

The Best Podcast for Self Storage!

I just started listening to the Self Storage Income Podcast and there is so much great information on here. AJ, Connor and their team provide a lot of great knowledge, wisdom, and experience and they truly want others to succeed. I look forward to listening to more episodes in the future!

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