Just subscribed. What incredible wisdom. Can't wait to continue. Also bought your book! Question: Do you have any ratios that you use as rule of thumb...Sqft/Cap, pop growth over capacity, etc. You talked a lot about looking at the facts of the market and it would be great to have some rules of thumb. Of course that shouldn't take the place of deeper analysis, but it would be helpful to prioritize or potentially rule out markets that aren't anywhere close to rule-of-thumb ratios.
I couldn't agree more, Michael! But I believe it was AJ who said, "Self Storage isn't a real estate asset. It's a business." Once I heard that, it completely shifted how I think about real estate. Isn't all commercial real estate a business if that statement is true? To be clear, that's not a declaration. I'm actually asking.
Have you considered markets by the Economic base multiplier analysis? Use employment to determine housing demand, which can be further extrapolated to determine storage demand.
I absolutely LOVE this channel. honest and refreshing insights! I have shared this with my LinkedIn community of 30k members to learn from additionally. That said, I'd love to learn about what 2023 will bring especially with High Interest rates that will continue to dominate. What regions therefore might be on the upswing that are worth looking into. I somehow also feel that may of the best and most lucrative deals just do not make it to an online sales platform such as Flipa etc. How does one become astute and go after niche markets with a big upside especially when such properties are NOT advertised? Could someone here point me in the right direction as far as acquiring Deal evaluations etc. Thanks so much and continue the great work!!
Just discovered your channel and it's packed with self storage wisdom. Thank you for sharing. For you 3 market trajectories, and specifically high growth/stagnant targets, does that apply to new builds from the ground up as well as buying existing facilities with a value addition plan? I would think buying existing facilities would change the targets a bit.
Hey AJ, Always great videos and content. Also think your videos have great sounds, lighting and video quality. I love to know what equipment your using as I am working on putting together a quality set up like yours so I to can put out videos on creative CRE. Thanks in advance.
Hey Brian! Thanks a ton for tuning in. I'm glad you're enjoying it! Definitely higher quality than what I used to have lol. I don't actually know all the equipment that my team uses, but I'll have one of them give me a list and I'll come back and plug it in here for you. Thanks again Brian!
Alright man, I've got it - we shoot on several Sony cameras (main: A7Siii) with a simple soft box light and lavalier mic (rode wireless). We also use the Shure SM7B’s every now and then, and for our podcast. Overkill if you are just starting out, but we love the quality that comes out of these. Mixed with some good editing & content, and you’ll go a long way!
@@SelfStorageIncome Thanks for the update, yes very high end camera. I'm still researching someone more cost effective. For now I have a Blue Yeti Pro, and a Elgato Webcam. Just had to get a new Macbook and sourcing other stuff for the project. I appreciate your time. Maybe I'll see you at the SSA or ISS shows
@@brianvandermeulen7349 I couldn't agree more. AJ's content is top-notch, using top-notch gear produced by top-notch producers. If you're still researching how to create content using higher-quality equipment, I'm happy to help. Just let me know, and I'll reach out to you directly.
So here in Roswell NM, there's about 15 or more storage places in a town of 50K in the middle of the desert. Big towns are 1.5 to 3 hours away. Is this going to be too much competition to bother with in Roswell? Or, like buying a property, is it more about location, location, location in the heart of all this potential competition.
Hey @5756372780 - Great questions! While the presence of 15 or more storage places in a town of 50K may indicate significant competition, the success of a storage business can still depend on factors like location, convenience, and unique offerings. Conducting a thorough market analysis to assess demand, identifying unmet needs, and choosing the right location could lead to a successful venture in Roswell, NM. The key metric you want to look for is square foot per capita. The number of facilities (supply) only matters relative to the amount of potential customers (demand) Checkout my video ua-cam.com/video/GjNyoS_6Qs4/v-deo.html&ab_channel=SelfStorageIncome to find out more.💪
Hey @jeremyeastman-realtor1687, there are tons of options you can explore to obtain market data like industry reports, surveys conducted by industry associations, self-storage management software providers, records from regulatory bodies, company data, brokers and so on. Check out this video to find out more! ua-cam.com/video/iP8ZuyfIlPY/v-deo.html&ab_channel=SelfStorageIncome 💪
Apologies for the confusion! This video was more about the types of markets (and how to find them), but I think this guide is more of what you are looking for: ua-cam.com/video/iP8ZuyfIlPY/v-deo.html
Whats going to happen when all the commercial loans are up for refinance at such large interest rates in the next 1-3 years? Is that going to be a good time to get in to storage?
Hey @wmtrombley - thanks for commenting! Deciding whether it's a good time to get into the storage business would depend on various factors beyond just the refinancing of commercial loans. It's important to consider the overall economic climate, the local real estate market conditions, demand for storage in your target area, and your own financial capacity and risk tolerance. Head over to my site www.selfstorageincome.com/ to get my free self-storage starter pack and join our free newsletters to learn more about investing in self storage! 💪
I get the what and why in terms of metrics to look for when it comes to research but that info doesnt help a whole lot if you're going to gatekeep the names of the softwares, reources, etc that you use.
Thanks for tuning Fouad! Check out some of my other videos on analysis (as the exact resources, software, and processes that I use are a massive subject and couldn't be included in this video, but are included in others I've done). I'll also be creating more videos in the future on specific items such as this and dedicate the video just to that one subject (these videos get kind of long sometimes lol). You can also search on Google for any specific software that you're looking for. Something to remember too is that not all your answers will come from a software, some of it will manual data that you'll have to find on your own.
![How to Double the Value of a Storage Facility [Keys to the Value Add Strategy]](http://i.ytimg.com/vi/9MdIAEPmTaY/mqdefault.jpg)
Just subscribed. What incredible wisdom. Can't wait to continue. Also bought your book! Question: Do you have any ratios that you use as rule of thumb...Sqft/Cap, pop growth over capacity, etc. You talked a lot about looking at the facts of the market and it would be great to have some rules of thumb. Of course that shouldn't take the place of deeper analysis, but it would be helpful to prioritize or potentially rule out markets that aren't anywhere close to rule-of-thumb ratios.
market analysis is key to any commercial real estate asset! Thanks for the insight
I couldn't agree more, Michael! But I believe it was AJ who said, "Self Storage isn't a real estate asset. It's a business." Once I heard that, it completely shifted how I think about real estate. Isn't all commercial real estate a business if that statement is true? To be clear, that's not a declaration. I'm actually asking.
Have you considered markets by the Economic base multiplier analysis? Use employment to determine housing demand, which can be further extrapolated to determine storage demand.
Thank you for the videos and podcasts. very helpful!
I absolutely LOVE this channel. honest and refreshing insights! I have shared this with my LinkedIn community of 30k members to learn from additionally. That said, I'd love to learn about what 2023 will bring especially with High Interest rates that will continue to dominate. What regions therefore might be on the upswing that are worth looking into. I somehow also feel that may of the best and most lucrative deals just do not make it to an online sales platform such as Flipa etc. How does one become astute and go after niche markets with a big upside especially when such properties are NOT advertised? Could someone here point me in the right direction as far as acquiring Deal evaluations etc. Thanks so much and continue the great work!!
Just discovered your channel and it's packed with self storage wisdom. Thank you for sharing. For you 3 market trajectories, and specifically high growth/stagnant targets, does that apply to new builds from the ground up as well as buying existing facilities with a value addition plan? I would think buying existing facilities would change the targets a bit.
Hey AJ, Always great videos and content. Also think your videos have great sounds, lighting and video quality. I love to know what equipment your using as I am working on putting together a quality set up like yours so I to can put out videos on creative CRE. Thanks in advance.
Hey Brian! Thanks a ton for tuning in. I'm glad you're enjoying it! Definitely higher quality than what I used to have lol. I don't actually know all the equipment that my team uses, but I'll have one of them give me a list and I'll come back and plug it in here for you. Thanks again Brian!
Alright man, I've got it - we shoot on several Sony cameras (main: A7Siii) with a simple soft box light and lavalier mic (rode wireless). We also use the Shure SM7B’s every now and then, and for our podcast. Overkill if you are just starting out, but we love the quality that comes out of these. Mixed with some good editing & content, and you’ll go a long way!
@@SelfStorageIncome Thanks for the update, yes very high end camera. I'm still researching someone more cost effective. For now I have a Blue Yeti Pro, and a Elgato Webcam. Just had to get a new Macbook and sourcing other stuff for the project. I appreciate your time. Maybe I'll see you at the SSA or ISS shows
You bet! Sounds great! Thanks Brian!
@@brianvandermeulen7349 I couldn't agree more. AJ's content is top-notch, using top-notch gear produced by top-notch producers. If you're still researching how to create content using higher-quality equipment, I'm happy to help. Just let me know, and I'll reach out to you directly.
So here in Roswell NM, there's about 15 or more storage places in a town of 50K in the middle of the desert. Big towns are 1.5 to 3 hours away. Is this going to be too much competition to bother with in Roswell? Or, like buying a property, is it more about location, location, location in the heart of all this potential competition.
Hey @5756372780 - Great questions! While the presence of 15 or more storage places in a town of 50K may indicate significant competition, the success of a storage business can still depend on factors like location, convenience, and unique offerings. Conducting a thorough market analysis to assess demand, identifying unmet needs, and choosing the right location could lead to a successful venture in Roswell, NM. The key metric you want to look for is square foot per capita. The number of facilities (supply) only matters relative to the amount of potential customers (demand)
Checkout my video ua-cam.com/video/GjNyoS_6Qs4/v-deo.html&ab_channel=SelfStorageIncome to find out more.💪
What percent change do you look for and what is considered high and low?
Where do you get your data on occupancy, turnover, etc, when researching specific markets? Thanks!
Hey @jeremyeastman-realtor1687, there are tons of options you can explore to obtain market data like industry reports, surveys conducted by industry associations, self-storage management software providers, records from regulatory bodies, company data, brokers and so on. Check out this video to find out more! ua-cam.com/video/iP8ZuyfIlPY/v-deo.html&ab_channel=SelfStorageIncome 💪
Did I miss where he said how to understand what your own market was doing? How do we pull up all this info and charts per city?
Apologies for the confusion! This video was more about the types of markets (and how to find them), but I think this guide is more of what you are looking for: ua-cam.com/video/iP8ZuyfIlPY/v-deo.html
Whats going to happen when all the commercial loans are up for refinance at such large interest rates in the next 1-3 years?
Is that going to be a good time to get in to storage?
Hey @wmtrombley - thanks for commenting! Deciding whether it's a good time to get into the storage business would depend on various factors beyond just the refinancing of commercial loans. It's important to consider the overall economic climate, the local real estate market conditions, demand for storage in your target area, and your own financial capacity and risk tolerance.
Head over to my site www.selfstorageincome.com/ to get my free self-storage starter pack and join our free newsletters to learn more about investing in self storage! 💪
I get the what and why in terms of metrics to look for when it comes to research but that info doesnt help a whole lot if you're going to gatekeep the names of the softwares, reources, etc that you use.
Thanks for tuning Fouad! Check out some of my other videos on analysis (as the exact resources, software, and processes that I use are a massive subject and couldn't be included in this video, but are included in others I've done). I'll also be creating more videos in the future on specific items such as this and dedicate the video just to that one subject (these videos get kind of long sometimes lol). You can also search on Google for any specific software that you're looking for. Something to remember too is that not all your answers will come from a software, some of it will manual data that you'll have to find on your own.
I def don't wanna live in portland.
17 min video without saying anything concrete