Join us in this episode as we sit down with Jordan Farrer, a prominent figure in Utah's self-storage market. Working with Marcus & Millichap, Jordan shares his unique insights into the remarkable surge in the self-storage sector, especially during the COVID-19 pandemic. From record occupancies and rate growths to the changing landscape post-2020, we delve into various aspects of self-storage investments and management.

Key highlights include:
00:02  Jordan Farrer discusses his role in Utah's self-storage market and industry trends.
00:58  COVID-19 led to a surge in the self-storage sector with record growth and sales from 2020 to 2021.
02:22  Increased average tenant stay in self-storage, now 12-15 months, due to smaller home sizes.
03:30  A development boom in 2018-2019 in self-storage slowed by recent high costs and debts.
05:32  Utah's self-storage market is less mature, with many small operators and slower growth.
06:40  The self-storage industry is seeing more large-scale institutional buyers and property aggregations.
11:25  Shift in pricing strategy to low initial rates with subsequent increases to retain customers.
13:28  A strong link between self-storage usage and the housing market, especially during moves.
21:42  SBA loans as a viable entry point for new investors in self-storage.
24:37  Growing trend towards remote management in self-storage, with adoption by larger operators.
27:33  Increasing importance of online advertising and presence in the self-storage industry.

Do you have any questions, tips, or ideas about career transitions in real estate development? Share your thoughts in the comments section below!

About Us:

Webster Real Estate, established in 2018, is dedicated to providing investment opportunities that deliver long-term value and high returns for our investors. Learn more about our approach to real estate investment at https://websterrealestate.com

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Today I got to sit down with former CCO of Zions Bancorporation Michael Morris, we spoke about his career progression, meeting Jamie Dimon, his time as the chief credit officer for Zions Bancorporation where he oversaw $87B of debt across the platform, he also mentioned the current strength of the regional banks. The answer might surprise you!

In this video, we’ll provide an in-depth explanation on the transition from architecture to real estate development, as experienced by Jon Galbraith.

In this discussion, Jon Galbraith shares his transition from an architect to a key developer.

Jon Galbraith:
E-mail [email protected]

Instagram Profile   / alchemy_development 

LinkedIn Profile   / jon-galbraith-aia-6070766 

- [03:35]  Embrace Land Constraints for Unique Architecture
  - Emphasizing the importance of embracing the unique constraints of each piece of land to create distinctive architectural projects.

- [04:55]  Strategic Design Choices Impact Financial Outcomes
  - Demonstrating how strategic architectural design choices can significantly impact the financial viability and returns of a development project.

- [10:39] Essential Collaboration Between Architects and Developers
  - Highlighting the necessity for architects and developers to work closely together, integrating various perspectives for better project outcomes.

- [25:25]  The Importance of Efficient Construction Meetings
  - Discussing the critical role of effective communication and problem-solving during architect-contractor meetings to navigate construction challenges.

- [32:41]  The Value of a Tailored Approach in Architecture
  - Advocating for a personalized, collaborative approach in architectural projects, emphasizing the benefits of not relying on a one-size-fits-all methodology.

Do you have any questions, tips, or ideas about career transitions in real estate development? Share your thoughts in the comments section below!

About Us:

Webster Real Estate, established in 2018, is dedicated to providing investment opportunities that deliver long-term value and high returns for our investors. Learn more about our approach to real estate investment at https://websterrealestate.com.

Additional Content to Consider:

Sign up for the Webster Real Estate Newsletter! https://go.websterrealestate.com/connect

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Jordan Atkin is the founder of TAG SLC. TAG was founded in 2010 starting with fixing and flipping house then transitioning to ground up development and now is focused on covered land plays along the wasatch front with a total of over 200 transactions to date. 

I was joined today by Moses and Rhett from Reseed Partners. We dicussed their backgrounds, the formation and evolution of reseed, a look at Cohort I who they are, where they came from, and lessons learned from the first round. 

We later got into the benefits of operators joining the program, the benefits from an investors perspective, as well as the next cohort's expansion plans. 

Today I was joined by my friend, Chris Hatch of Forza Development, a 3rd generation commercial real estate developer and 6th generation Utahn, Chris’s focus has been on the drive thru retail space and he has been involved in over 1,000 drive-thru real estate deals since 2002. He has recently shifted his focus to entirely development focused, and we spoke in depth about the transition from broker to developer. We also spoke in depth about how to develop NNN retail properties. Chris can be found on twitter @NNNincome and Chris is desperately looking for dutchbros sites across the nation so please send him sites!

Barrett Linburg is a co-founder of Savoy Equity Partners, based in Dallas, specializing in multifamily real estate investments. Starting in commercial real estate 2005, Barrett has expertise in sourcing and capitalizing multifamily projects in all parts of a real estate cycle. Since 2012, he has been involved in the ownership, development, and rehabilitation of several thousand multifamily units. Barrett's niche lies in navigating transactions with intricate structures, notably opportunity zones, historic tax credits, and mixed-income restrictions. His background as a mortgage broker further solidifies his grasp on the financial nuances of real estate, having arranged debt financing for various property types. Barrett earned both his BBA and MBA from SMU Cox School of Business, focusing on Real Estate and Finance. Outside of his professional life, he cherishes time with his wife, Heather, and their daughters, Natalie and Abigail, and has a passion for golf, hiking, scuba diving, and in-depth discussions on Opportunity Zones.

Steve Maddox is the founder and owner of Utah's largest homebuilder, Edge Homes. Edge Homes rose from the ashes of 2008 and has delivered thousands of homes since. We discussed master planned communities, building condos, the mentors in his life, and how he got started in the business.  

Edge is one of the few developers in the starter home market, and I am honored to share his story. 

Luke Morong began his career flipping houses and syndicating apartments, he then transitioned to industrial cannabis cultivation facilities, and has now shifted to more stable industrial assets as the industry matured. Hear how one vacant building led him to a key defense contractor lease requiring $1.5 million in tenant improvements. He explains the financial engineering behind converting risky short-term leases into valuable 10+ year extensions. With insider tips on industrial underwriting, Luke outlines the key value-add strategies of industrial assets beyond the obvious paint and flooring plays. 

David Jangro took an unorthodox path into finance. Navigating the chaos of the 2008 crisis on a Florida bank's trading desk set started his career of investment experiences. Listen in as David shares rare insights into sourcing new clients in wealth management, constructing "fund of funds" hedge fund portfolios, and venturing into real estate private equity. Now at Axia Partners, he's got his eyes on recession risks and bond yields.