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What are the banks looking for right now when it comes to loans?

In this episode, Scott warms up the conversation with proven strategies for securing self-storage loans amidst a challenging economic climate.

He explains the evolving lending environment, the criteria lenders use to assess loan applications, and provides actionable strategies for presenting strong loan requests.

Scott emphasizes the importance of having a solid business plan, understanding market conditions, and shopping loan requests to multiple lenders.  

WHAT TO LISTEN FOR
05:46 - Qualifying for a Loan: Key Criteria
10:58 - Creating a Compelling Business Plan
18:38 - Conventional Loans vs. SBA Loans
27:37 - Improving Profitability and Operations

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Meet the software turning self-storage ads into occupancy boosters!

In this episode, Scott interviews Jason Zickler, co-founder of Adverank, about how their specialized software is changing paid advertising for self-storage operators.

Jason explains how Adverank's innovative algorithm provides precise budget recommendations to maximize occupancy without overspending.

The discussion includes a live demo of the software, showcasing its real-time data integration with property management systems and Google Ads, and highlights successful case studies, including a remarkable turnaround for a struggling facility.

Listen For:
01:34 - Adverank Overview
14:12 - Adverank Demo
23:12 - PPC Ad Shortfall Explained
41:04 - Real-World Success Stories

CONNECT WITH GUEST: JASON ZICKLER
Website | Email | LinkedIn | 317-698-1309

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Syndicating self-storage deals just got trickier – here’s how to stay ahead.

In this episode, Scott dives into the evolving landscape of the self-storage industry, emphasizing the challenges brought by rising interest rates, construction costs, and stricter lending practices.

Scott outlines nine key fee structures in syndication, offering practical advice on balancing compensation and investor satisfaction.

He provides valuable insights on how syndicators can adapt, including the importance of maintaining investor confidence and effectively managing fees.

Listen For:
03:32 - Fee Structures Explained
19:31 - Competition and Returns
21:05 - Balancing Fees and Incentives
22:32 - Handling Investor Pressure

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Imagine the booming world of self-storage evolving into something even more specialized and lucrative.

In this episode, Scott Meyers chats with Joe Downs of the Belrose Storage Group about the emerging niche of "pro storage" – a unique blend of contractor and RV/boat storage.

They explore the untapped potential of this market, the challenges of zoning and site selection, and the high demand driven by shifting consumer trends.

Joe shares insights from his journey, emphasizing the importance of strategic location and the growth opportunities in this promising sector.

Listen For:
02:38 - The Birth of Pro Storage
12:38 - The Demand for Contractor Storage
24:55 - Overcoming Municipal Challenges
34:50 - Demographics and Site Selection

CONNECT WITH GUEST: JOE DOWNS
LinkedIn | Website

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Turn your savings into a wealth-building machine.

Scott Meyers introduces Donnell and Angelique Stidhum, a dynamic duo dedicated to empowering individuals through financial literacy. They share their journey and strategies for leveraging self-directed 401(k)s, real estate investments, and other financial tools to achieve financial security and freedom.

Highlighting the importance of community and clear goals, the Stidhums provide a roadmap for transforming traditional retirement accounts into a powerful wealth-building machine. Tune in to discover how to take control of your financial future and achieve your dreams.

WHAT TO LISTEN FOR
1:31 The Importance of Financial Literacy
2:17 Donnell and Angelique's Self Directed Journey
17:48 The Power of Self-Directed Investing
19:33 Setting Clear Financial Goals

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GUESTS: Donnell and Angelique Stidhum
Email | Website | You Tube | Facebook | LinkedIn | Instagram |  TikTok

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Site development is critical!

In this episode, Scott shares the essentials of developing the perfect location for your self-storage business. From understanding zoning regulations and gaining community support to identifying red flags like environmental challenges and wetlands, he emphasizes the importance of due diligence and strategic planning.

Scott highlights the critical role of market studies, feasibility assessments, and proactive consultation to ensure profitability and mitigate risks.

He also discusses how a well-thought-out exit strategy and understanding the lender environment can lead to higher returns and a successful project.

Listen For:
03:45 - Zoning Approval Process and Key Considerations
09:09 - Zoning and Height Restrictions
28:39 - Financing Challenges and Current Lending Environment

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Essential strategies for development amidst financial uncertainties.

In this episode, Scott explores the intricacies of evaluating potential development sites for lender approval in today's challenging economic landscape. 

With interest rates on the rise and a potential recession looming, Scott discusses the strategic importance of seizing opportunities during economic downturns, where less competition can lead to greater profits. 

He provides detailed insights on proper site selection, the critical role of feasibility studies, and shares lessons learned from past development challenges, urging investors to be proactive and well-prepared for when the market rebounds. 

Listen For:
4:53 Evaluating Potential Development Sites
10:50 Overbuilding: A Developer's Cautionary Tale
13:37 Navigating Financial Challenges and Recovery Options  

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Technology is transforming self-storage.

Jackson Stevens shows us how tech can reign supreme in the realm of self-storage.

Scott and Jackson discuss the SpareBox Technologies’ rapid growth and the innovative software solutions driving operational excellence.

From AI-driven revenue management to real-time field operations apps, Stevens articulates how the integration of these technologies not only boosts NOI but also fundamentally alters the traditional storage facility management approach.

Listen For:
7:34 Unveiling RaFA: The Remote Field Operations App
11:14 Leveraging AI for Effective Customer Acquisition
16:17 The Philosophy Behind Spare Box's Technological Suite
19:14 Enhancing Tenant Communication via Tech Tools

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GUEST: JACKSON STEVENS CEO and Co-Founder of SpareBox Technologies.
Website | LinkedIn | SpareBox Technologies LinkedIn

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The ISS World Expo sets the stage.

After attending the ISS World Expo in Las Vegas, Scott shares a comprehensive breakdown of the event, highlighting the vibrant community and the dynamic evolution of the self-storage industry.

From technological advancements to the strategic discussions about the future of self-storage investments, Scott's offers a firsthand account of the industry's pulse. His focus on community, networking, and the significance of staying ahead of market trends provides invaluable guidance for anyone looking to scale in this sector.

Listen For:
3:52 Education and Strategy - Choosing Your Path at the Expo
5:02 The Great Rollup - Discussing Industry Consolidation
9:12 Business as Usual? - Self-Storage in Today's Economy

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Software solutions are helping manage all aspects of maintaining facilities, from tracking tasks and schedules to providing insights on operational improvements.

In this episode, Jadob Pandl and Bob Linneman of NodaFi join Scott to highlight the importance of having a centralized system for facility operations, especially for new entrants in the industry.

They also discuss the potential for technology to create an ecosystem where different applications can communicate with each other, leading to more efficient operations.

Storage facility owners need to embrace technology to enhance their operations and improve their return on investment.

WHAT TO LISTEN FOR
2:09 Enhancing Operational Efficiency
3:08 Data-Driven Decision-Making
14:18 Remote Management Capabilities
25:33 Technology Integration and Ecosystem Development

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GUEST: JACOB PANDL, NodaFi
Website | X | LinkedIn

GUEST BOB LINNEMAN, NodaFi
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