Long-Term Effects of COVID on Self Storage w/ Dane Elefante
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- Опубліковано 2 жов 2024
- 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 storage 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: platinumstorag...
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Customers with my employer get 100% increases, sure they're typically on lower priced units but it still offends customers and creates a fun conversation for employees to justify something of that percentage.
All the people you interview seem to be big players in the market. That makes me feel like it would be nearly impossible as someone just starting out to enter and be profitable.
It can seem like that but its not true! I started out learning from AJ about 3.5 years ago and bought my first facility 2 years ago now. We are profitable and in the middle of acquiring some more facilities in our area.
Stick to the process! 🙏🏽
@@abrahamcorral7118Great words of encouragement!
Love the content AJ, thanks for supporting the storage community!
@user-px4rx5wc6v - Always! What other subjects are you eager to see in our upcoming video releases?