Self Storage Income AJ Osborne

Welcome back everybody to Self Storage Income! Today we have an exciting guest, Mike Burnam, on to talk about the current state of self storage markets - particularly smaller, tertiary, and subprime markets - as the bubble created by the pandemic is starting to pop.  

Mike is the CEO of StorageMart and has been in the industry for over 42 years, with over $4 billion worth of self storage. He has experience with being publicly traded then went private, and has operated in the US, Canada, and the UK. 

So what's going on with storage? Debt is harsh, ChatGPT is disrupting Google's dominance, and large competitors, like Public Storage, is experimenting with more and more remote & digital solutions in their properties. ExtraSpaceStorage, just bought over $500 million to buy a portfolio of over 100 properties. These changes will determine the future of storage, especially impacting smaller markets in rural areas while high population areas approach these changes head-on. Find out more in this episode! 

You can reach out to Mike directly via his email: 

mike.burnam@storage-mart.com 

Find out more about StorageMart:

https://www.storage-mart.com 

Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here:

https://www.cedarcreekwealth.com/debt

Our partners:

Live Oak Bank - liveoakbank.com/incomepodcast

Tenant Inc. - https://www.tenantinc.com/

Janus International - https://www.janusintl.com/

Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook 

The economy is shuttering: with the Fed raising rates trying to slow down inflation, banks are responding differently to investors than they used to. Developments aren't getting approved as much as they used to. What does this mean if you are wanting to invest in, build, or acquire a new storage facility? 

Today we are joined by Anna Taylor, who is the head of Self-Storage Lending at Live Oak Bank and she is an absolute self storage lending expert. She's kept a close eye on the industry over the last decade.

We talk about the market conditions right now, what she's seeing from a lending perspective, and what needs to be done prior to obtaining the loans and financing you may need. 

Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here:

https://www.cedarcreekwealth.com/debt

Our partners:

Live Oak Bank - liveoakbank.com/incomepodcast

Tenant Inc. - https://www.tenantinc.com/

Janus International - https://www.janusintl.com/

Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook 

When buying a self storage facility, the sale price isn’t always market value - if it was, we’d live in a perfect world.

Thats why having an appraiser come out and inspect the property can be tremendously valuable. They can tell you what exactly adds or subtracts from market value and determines the final sale price.

In this episode, special guest Tim Garey from Cushman & Wakefield Self Storage sheds light on the appraisal process. With over 20 years of experience in commercial real estate, Tim has valued a wide variety of properties: shopping centers, industrial, golf courses, and...self storage! 

Find out more about Cushman & Wakefield here: http://cushwakeselfstorage.com/

Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here:

https://www.cedarcreekwealth.com/debt

Our partners:

Live Oak Bank - liveoakbank.com/incomepodcast

Tenant Inc. - https://www.tenantinc.com/

Janus International - https://www.janusintl.com/

Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook 

In this special Q&A episode of Self Storage Income, we answer YOUR questions directly.

We will be addressing

- The State of Self Storage in 2023

- Developments: The Pros & Cons

- Finding Investors for a Boat & RV Facility

with much more to come.

Thanks to all those to have supported us and sent us questions. You can send your own via our YouTube channel, Instagram, or Twitter. 

https://www.youtube.com/@SelfStorageIncome 

https://www.instagram.com/ajosborne/ 

https://twitter.com/AjOsborne1 

Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here:

https://www.cedarcreekwealth.com/debt

Our partners:

Live Oak Bank - liveoakbank.com/incomepodcast

Tenant Inc. - https://www.tenantinc.com/

Janus International - https://www.janusintl.com/

Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook 

Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/

There are many ways to finance a self storage deal. You can bring your own money, leverage your own assets, or enlist the help of others, like investors, banks, and even the sellers themselves. 

Today we're talking about two of the most common ways to finance a storage facility: Funds and Syndications.

Funds pool together capital to invest across a series of investments or properties, such as a portfolio, hence diversifying the capital you invest. 

Syndications aggregate a group of investors together to "crowd-finance" a single property or deal, but allows for more parties to help manage or secure deals, especially larger ones. 

We're breaking down what you need to know BOTH as an investor AND a sponsor. What are the pros and cons of each? 

Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here:

https://www.cedarcreekwealth.com/debt

Our partners:

Live Oak Bank - liveoakbank.com/incomepodcast

Tenant Inc. - https://www.tenantinc.com/

Janus International - https://www.janusintl.com/

Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook 

Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/

Once you've figured out which market to go in and what price you should pay, the next step is to secure the funding and financing for your deal.

Lending is a tricky business - there are numerous types of loans and fund structures each with their unique benefits, regulations, and interest rates. Each of these factors will directly affect how your deal functions now and years into the future. 

Today we are talking to Ben Benditson, our newest addition to the Cedar Creek team. He's a broker who has helped us fund numerous deals that we now own. We're going through the Pros and Cons of different types of funding for Self Storage (and commercial real estate at large) and what to look for and avoid when you are raising capital. 

Need help funding a deal? We can help you figure out what type of loan or financing structure you need, and where you can get them. Just send us a message here:

https://www.cedarcreekwealth.com/debt

Our partners:

Live Oak Bank - liveoakbank.com/incomepodcast

Tenant Inc. - https://www.tenantinc.com/

Janus International - https://www.janusintl.com/

Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook 

Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/