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The Investors Guide to Growing Wealth in Self Storage: The Step-By-Step Playbook for Turning a Real Estate Asset Into a Thriving Self Storage Business
The Essential Playbook to Earning a Lifetime of Income Through Self Storage Over the past decade in AJ Osborne’s self storage investing career, he’s built a portfolio of over $100 million in self storage investments with no outside capital or management. In this step-by-step playbook, you will discover how to identify investment opportunities, allocate capital, and leverage management expertise to turn a mom and pop real estate asset into a thriving income-producing business. Master the principles of self storage investing by learning from someone who’s done it before. The business of self storage has evolved over the years. What started as a mom and pop business in the 70s and 80s has become a truly institutional asset class with value-add and management opportunities not found in any other real estate investment. By viewing self storage as not only a real estate asset but a consumer-oriented retail business, incredible opportunities are available to those who understand and implement the framework laid out within this book. “AJ’s ability to dissect and break down complex business principles and overlay them into a remarkably powerful investing vehicle like self storage provides an entirely new perspective on an age-old industry, and lights the way for new investors interested in self storage.”—Roc Pilon, Founder/CEO, Gymreapers “AJ Osborne is one of the most legit, successful real estate investors I’ve ever had the privilege of knowing. He’s one of the people I trust more than anybody. AJ is the real deal.”—Brandon Turner, host of the BiggerPockets podcast AJ Osborne is an entrepreneur and investor. He owns and manages a self storage portfolio of over $100M in assets. AJ is a national speaker on investing in, buying, and managing self storage facilities, wealth, financial freedom, and he actively manages his facilities. In addition to buying and turning around many existing facilities, he has developed self storage from the ground up, expanded existing facilities, and converted a failed Super Kmart into a storage facility. He has additional development projects ongoing across the United States. AJ specializes in buying and turning around underperforming facilities with a value-add strategy. He has created a management company to run his facilities and focuses on growing his portfolio. He is a leader in the industry with a focus on technology and self storage automation. He built one of his largest facilities with full automation technology. He is the owner and host of the self storage industry’s largest self storage podcast, Self Storage Income.
- GenresBusinessNonfiction
186 pages, Kindle Edition
Published June 22, 2020
172 people are currently reading
114 people want to read
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Displaying 1 - 8 of 8 reviews
March 15, 2021
This guy is sharp & your probably leaving $ on the table by passing this gem up.
What my 👂 heard ⤵️
Turner real estate asset into a thriving business
the difficulty with sales and maintaining clients is that you don't own that revenue stream clients want to make changes and things happen they fire you they leave and that revenue stream ends it is extremely unpredictable and not secured
on and control the source of revenue
make money save money invest in your wealth vehicle and scale
it's a Fourth tier market
the diamond is the asset class itself
self storage is not a real estate asset it's a business
I was lucky that the home I left was though I came back to
self storage is recession resilient
your market research will equip you to know what price you can pay
focus on revenue potential and upside what I call money on the table
the best thing is also the worst thing about self storage and that is that it's a business it's operations heavy
in general people don't want to use a self-storage unit that's 5 miles away from their home
approximately 10% of the country uses self-storage
times will pay anywhere from 30 to 80 cents per square foot
usually it's an adult female who will decide to buy the self storage unit
the cost of a manager in a small unit can decimate any chance of profit
200,000 square feet behemoth are waste of money because there isn't enough demand to support
you can't change the location of a self storage site so evaluate that before anything else
double the revenue it's a good deal because you're doing brrr
all businesses produce revenue how much revenue they produce is a question of management
a self-storage unit is more like retail and real estate
any size Market can be a bad one if it's over built
I would rather go to a third-tier market with not a lot of demand than a second tier Market that's overbuilt
any Market that is overbuilt is not a good place to start no matter what size it is research competitors in the area and zoning laws for ones that can be built
don't leverage so much that if your profit margin was reduced 10 to 20% you couldn't make payments
70% of self-storage units are owned by Mom and Pop only 30% are by institutional owners
which is the opposite 80% of apartments are owned by institutional owners and 20% by Mom and Pop
even though many institutional investors have started to invest in self storage it's still an opportunity for individual investors with many local opportunities to find
we get 80% of our tenants online
people buy more stuff because they can afford to especially online
easy to obtain financing like boats and clothes make more stuff to be stored
in the 70s if you didn't have the cash you didn't buy it
people are running businesses out of storage units especially online
part of your upside are the add-on products you can sell insurance packaging products which can be 5 to 10% of gross revenues which can translate to millions of dollars because of leverage
a higher valuation allows you to refinance
invest upgrade the facility Market to the right customers and collect the dramatically increased revenue and benefit from the improved valuation collect the revenue or refinance to get your capital back and do it again while you continue collecting revenue from the first purchase
what makes an asset safe is how secure the revenues are
self-storage units are subject to over built markets
self storage owners are the biggest threat to self-storage competition and not doing adequate research before committing to a new facility
because the market is fragmented owned by Mom and Pop you can't research it easily
due diligence looks different and involves more creative approaches in order to get a true picture of the local market
like all industries self-storage is vulnerable
knowledge reduces risk
I have two things to manage my physical property and my online presence
I want to build a business not a real estate asset
you don't want to buy a problem especially a surprise problem
by based on proforma information but don't pay for it
the value of self storage is based off the revenue
dive into your comsumers perspective
the more you leverage your cash the more property you can buy
MOS margin of safety
I want good stable assets with very low risk
a 20% irr minimum
the value of the asset should not be tied to the person that's running it
What my 👂 heard ⤵️
Turner real estate asset into a thriving business
the difficulty with sales and maintaining clients is that you don't own that revenue stream clients want to make changes and things happen they fire you they leave and that revenue stream ends it is extremely unpredictable and not secured
on and control the source of revenue
make money save money invest in your wealth vehicle and scale
it's a Fourth tier market
the diamond is the asset class itself
self storage is not a real estate asset it's a business
I was lucky that the home I left was though I came back to
self storage is recession resilient
your market research will equip you to know what price you can pay
focus on revenue potential and upside what I call money on the table
the best thing is also the worst thing about self storage and that is that it's a business it's operations heavy
in general people don't want to use a self-storage unit that's 5 miles away from their home
approximately 10% of the country uses self-storage
times will pay anywhere from 30 to 80 cents per square foot
usually it's an adult female who will decide to buy the self storage unit
the cost of a manager in a small unit can decimate any chance of profit
200,000 square feet behemoth are waste of money because there isn't enough demand to support
you can't change the location of a self storage site so evaluate that before anything else
double the revenue it's a good deal because you're doing brrr
all businesses produce revenue how much revenue they produce is a question of management
a self-storage unit is more like retail and real estate
any size Market can be a bad one if it's over built
I would rather go to a third-tier market with not a lot of demand than a second tier Market that's overbuilt
any Market that is overbuilt is not a good place to start no matter what size it is research competitors in the area and zoning laws for ones that can be built
don't leverage so much that if your profit margin was reduced 10 to 20% you couldn't make payments
70% of self-storage units are owned by Mom and Pop only 30% are by institutional owners
which is the opposite 80% of apartments are owned by institutional owners and 20% by Mom and Pop
even though many institutional investors have started to invest in self storage it's still an opportunity for individual investors with many local opportunities to find
we get 80% of our tenants online
people buy more stuff because they can afford to especially online
easy to obtain financing like boats and clothes make more stuff to be stored
in the 70s if you didn't have the cash you didn't buy it
people are running businesses out of storage units especially online
part of your upside are the add-on products you can sell insurance packaging products which can be 5 to 10% of gross revenues which can translate to millions of dollars because of leverage
a higher valuation allows you to refinance
invest upgrade the facility Market to the right customers and collect the dramatically increased revenue and benefit from the improved valuation collect the revenue or refinance to get your capital back and do it again while you continue collecting revenue from the first purchase
what makes an asset safe is how secure the revenues are
self-storage units are subject to over built markets
self storage owners are the biggest threat to self-storage competition and not doing adequate research before committing to a new facility
because the market is fragmented owned by Mom and Pop you can't research it easily
due diligence looks different and involves more creative approaches in order to get a true picture of the local market
like all industries self-storage is vulnerable
knowledge reduces risk
I have two things to manage my physical property and my online presence
I want to build a business not a real estate asset
you don't want to buy a problem especially a surprise problem
by based on proforma information but don't pay for it
the value of self storage is based off the revenue
dive into your comsumers perspective
the more you leverage your cash the more property you can buy
MOS margin of safety
I want good stable assets with very low risk
a 20% irr minimum
the value of the asset should not be tied to the person that's running it
March 6, 2023
A.J. Osborne's Guide to Self Storage is a comprehensive and informative guide for anyone looking to either rent or own a self storage unit. The book covers all aspects of the self storage industry, from the basics of renting and owning a unit to the different types of storage units available. It also provides helpful advice on how to maximize your storage space and tips on how to save money on storage costs.
A.J. Osborne's Guide to Self Storage provides an easy to read and comprehensive overview of the self storage industry. Written in a straightforward and accessible style, the book gives readers a good understanding of the different types of storage units available and the different ways to use them. It also offers helpful advice on how to maximize your storage space, how to save money on your storage costs, and how to make sure your belongings are safe and secure.
The best thing about A.J. Osborne's Guide to Self Storage is that it covers all the major aspects of the industry in one concise and comprehensive package. Whether you are looking for information on renting or owning a self storage unit, the different types of storage units available, or tips on how to maximize your storage space, this book has you covered. We used some tips on https://divinemoving.com
Overall, A.J. Osborne's Guide to Self Storage is an essential read for anyone looking to rent or own a self storage unit. The book is written in an easy to read style and offers comprehensive coverage of the self storage industry. Highly recommended for anyone looking to make the most of their storage space.
A.J. Osborne's Guide to Self Storage provides an easy to read and comprehensive overview of the self storage industry. Written in a straightforward and accessible style, the book gives readers a good understanding of the different types of storage units available and the different ways to use them. It also offers helpful advice on how to maximize your storage space, how to save money on your storage costs, and how to make sure your belongings are safe and secure.
The best thing about A.J. Osborne's Guide to Self Storage is that it covers all the major aspects of the industry in one concise and comprehensive package. Whether you are looking for information on renting or owning a self storage unit, the different types of storage units available, or tips on how to maximize your storage space, this book has you covered. We used some tips on https://divinemoving.com
Overall, A.J. Osborne's Guide to Self Storage is an essential read for anyone looking to rent or own a self storage unit. The book is written in an easy to read style and offers comprehensive coverage of the self storage industry. Highly recommended for anyone looking to make the most of their storage space.
June 28, 2021
My primary interest when reading was what he valued in self storage properties and how he processed acquisitions in SS. A lot of what is in this book I've already learned from other SS books as well as his video series on YouTube. The information was still informative and gave me a good mental picture of what to look for when purchasing SS.
Some of this book felt repetitive and could have benefitted from some editing as well as a more in depth case study on one of his properties. At some points he identifies problems without giving solutions (like hiring the right people).
His main strategy of buying value-add SS properties will unfortunately become less viable due to the professionalization of the industry. Relying on others incompetence will eventually lead to a lack of purchasable inventory.
Overall I enjoyed the book and thought many of it's lessons were useful. A good read for anyone looking to enter the industry
Some of this book felt repetitive and could have benefitted from some editing as well as a more in depth case study on one of his properties. At some points he identifies problems without giving solutions (like hiring the right people).
His main strategy of buying value-add SS properties will unfortunately become less viable due to the professionalization of the industry. Relying on others incompetence will eventually lead to a lack of purchasable inventory.
Overall I enjoyed the book and thought many of it's lessons were useful. A good read for anyone looking to enter the industry
January 28, 2024
One avenue to achieve Financial Freedom
Tons of very helpful information to help you achieve your goals. One of the key points once you start on your journey is always do your due diligence. Once you check out the facility and received all the financials verify for yourself that this information is true.
Tons of very helpful information to help you achieve your goals. One of the key points once you start on your journey is always do your due diligence. Once you check out the facility and received all the financials verify for yourself that this information is true.
December 29, 2020
This book is a great resource for anyone interested in self storage. We’re in the process of purchasing our first facility and this book was extremely helpful in guiding us through that process (especially coordinating transfer day). AJ is a wealth of knowledge with a desire to pay it forward and help others. If you’re in the self storage industry or thinking about it, this book is a must have!
Read
July 19, 2021Great book. Would love to get into this type of real estate one day.
November 17, 2023
Good book. Personally don’t think this asset class is for me but who knows. Maybe one day
March 1, 2021
One of the BEST real estate books you will read ! If you’ve ever been curious about investing in self storage this is the step by step guide that will tell you how to do it and how to do it phenomenally. Full of insider best practices, real experiences and actual tactile information this will change your perspective on how self storage is successfully done and will guide you to wealth in self storage. The author’s personal examples and shocking personal story give this book the interest and credibility readers crave. 11 out of ten - awesome book !!
Displaying 1 - 8 of 8 reviews