Community Services Success Book Podcast Invest

362. 3 Steps to Get Your First Self Storage Facility This Year

Season #1

By the end of this episode, you’ll have everything you need to buy storage facilities—not just any facility, but the facility that is best for you.

 

This is the exact pre-acquisition checklist Conner uses to get prepped to buy self storage investments. Not only can it help speed up your timeline to your first storage facility exponentially, but it will also make buying every facility after that even easier. If you wonder how Conner and AJ invest at scale and can move on deals so quickly, this is how it’s done.

 

We’ll walk you through everything you need, from finding lenders and insurance to getting your buy box set up and connecting to brokers who will send you deals, and finally making offers on facilities that fit your exact criteria. This is everything you need to go from zero self storage investments to your first one under contract, and by next week, you could have deals filling up your inbox if you follow Conner’s checklist.

 

What you’ll learn in today’s show:

  • The three things you need to find, offer on, and buy your first self storage investment
  • It is not too early to talk to a lender and why you should be calling them before the deal hits your inbox
  • The exact buy box you can send to brokers that will get them to send the right deals to you
  • Submitting LOIs (letters of intent) and PSAs (purchase and sale agreements) before closing
  • How to get on mom-and-pop owners’ good side so they offer you the chance to buy first

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Grab AJ’s Book, Growing Wealth in Self-Storage 2.0 : https://www.amazon.com/Growing-Wealth-Self-Storage-2-0-Post-Pandemic/dp/1735258865 

Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/ 

Check out this episode next: The Last Time Self Storage Did This, We Made Millions (You Have 2 Years) - https://www.selfstorageincome.com/podcasts/self-storage-income-2/episodes/2149240630 

Schedule a 1-on-1 Coaching Call with Conner: https://www.selfstorageincome.com/coaching?el=pc-episode-362