After one self storage investment, Darren and Jyoti Osten knew they wanted out of residential real estate. They had bought rental properties, a fixer-upper, and an apartment building, but none were as profitable or passive as self storage investing. Now, six years later, they have four self storage facilities and a small, but stable, portfolio that they run from over 1,000 miles away.
When a property manager brought Darren and Jyoti a self storage deal at a time they were tired of the toilets and tenants of rentals, they made the leap. They loved it so much they bought one more, then another, then decided to self-manage, and buy another one. They knew nothing about self storage management from the start, but quickly were able to raise rents, get higher-quality tenants, and do a big self storage expansion on one of their facilities.
Today, they’re sharing the easy moves they made to raise their facilities’ rents, get more revenue, increase security, and fix delinquency. Plus, how they 2x-3x-ed one facility’s value with an expansion project, giving them much higher revenue. You can do this, too, even if you’re working full-time and even if you have no experience.
What you’ll learn in today’s show:
- Why you should self-manage your own self storage facilities (makes much more money!)
- Don’t want to deal with rental properties? Storage might be your best option
- Expanding your storage facility and the cost to double the space (plus a 0% down loan to try)
- Why occupancy is not that important and how to get higher revenue with fewer customers
- Easy online marketing that any self storage facility can implement to fill up faster
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Juniper Investors - https://juniperinvestors.com/index.html
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