Self Storage Income

275. Buying vs. Building a Storage Facility: Pros and Cons, Costs, and Timeline with Guest Matt Wallace


Listen Later

Buying vs. building storage units: which is the better choice, especially for beginners? Is buying a pre-fab (kit) facility better than building one from scratch? Or does buying a run-down self storage facility with value-add potential outperform building due to lower costs? We brought back an all-time favorite episode with investor Matt Wallace to get you some answers.

 

Matt has done both—buying and building storage units. He’s taken run-down facilities and made them top performers, as well as taking a plot of land and turning it into a 100% occupied self storage facility. Which one does HE think is the better investment? And would he advise a beginner to start with self storage new builds? 

 

In this episode, Matt gives a masterclass on the pros and cons of building storage units, who should (and shouldn’t) be doing it, what you MUST know before you start building, and how he “makes” phenomenal self storage deals that most other investors miss. 

 

What you’ll learn in today’s show:

  • Buying vs. building self storage facilities and which is better for beginners 
  • How Matt filled up a brand new facility (250+ units!) in under three months! 
  • The building timeline and why it’s (probably) going to take longer than you think
  • Why you DO NOT want to buy a “self storage kit” and build it yourself 
  • How to win a self storage deal even if you feel out of the race 
  • Connect with Matt: https://wealthfit.com/expert/matt-wallace/ 

    Connect with Ben, Cedar Creek’s Debt Expert: https://www.linkedin.com/in/benjamin-benditson-291a6010/ 

    📌 Make self storage management easier than EVER with our podcast sponsor Tenant Inc. - https://www.tenantinc.com/

    🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207

    📖 Get AJ's new book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq

    📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest

    ...more
    View all episodesView all episodes
    Download on the App Store

    Self Storage IncomeBy AJ Osborne

    • 4.9
    • 4.9
    • 4.9
    • 4.9
    • 4.9

    4.9

    585 ratings


    More shows like Self Storage Income

    View all
    BiggerPockets Real Estate Podcast by BiggerPockets

    BiggerPockets Real Estate Podcast

    16,731 Listeners

    The Real Estate Guys Radio Show - Real Estate Investing Education for Effective Action by The Real Estate Guys

    The Real Estate Guys Radio Show - Real Estate Investing Education for Effective Action

    706 Listeners

    Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business by The Rich Dad Media Network

    Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

    3,843 Listeners

    Lifetime Cash Flow Through Real Estate Investing by Rod Khleif

    Lifetime Cash Flow Through Real Estate Investing

    1,407 Listeners

    Tax Smart Real Estate Investors Podcast by Hall CPA

    Tax Smart Real Estate Investors Podcast

    426 Listeners

    Ken McElroy Show by Ken McElroy

    Ken McElroy Show

    722 Listeners

    Real Estate Rookie by BiggerPockets

    Real Estate Rookie

    1,834 Listeners

    Self Storage Investing by Scott Meyers, Stories and Strategies

    Self Storage Investing

    44 Listeners

    The Self Storage University Podcast by Frank Rolfe

    The Self Storage University Podcast

    13 Listeners

    Creating Wealth Through Self Storage by Creating Wealth Through Self Storage

    Creating Wealth Through Self Storage

    8 Listeners

    On The Market by BiggerPockets

    On The Market

    898 Listeners

    The BetterLife Podcast by Brandon Turner and Cam Cathcart

    The BetterLife Podcast

    852 Listeners

    BigDeal by Codie Sanchez

    BigDeal

    917 Listeners

    Self Storage Insights by Ben Shirey

    Self Storage Insights

    4 Listeners

    The David Greene Show by David Greene

    The David Greene Show

    700 Listeners