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Tech-Enabled Self Storage Investing with Jonah Hall
Investing with Taylor: www.investwithtaylor.com
Manage your properties with Stessa https://stessa.sjv.io/c/2425882/1152983/14113
Jonah Hall is an experienced self-storage investor who specializes in converting existing properties into climate-controlled self-storage units. He started his journey in self-storage in 2017 and has since completed 20 conversion projects. Jonah focuses on secondary markets and leverages technology to streamline operations and provide a self-service experience for customers. He is known for his expertise in remote management and has built a team to handle the day-to-day operations of his properties.
Episode Summary:
Jonah discusses the benefits of adaptive reuse projects and how they offer a prime location and higher quality building compared to ground-up construction. He also explains the process of evaluating supply and demand in a market before undertaking a conversion project. The conversation then shifts to the technology-enabled management of Jonah's properties.
He highlights the use of digital locks and a comprehensive tech stack that allows for remote management and a self-service rental process. Jonah emphasizes the scalability and cost-effectiveness of these technologies and how they contribute to the bottom line of his properties.
Finally, the episode explores Jonah's exit strategy and the challenges of selling properties with advanced technology to buyers who may not be ready to adopt it. Jonah shares his approach of partnering with established software and hardware vendors to ensure the transferability of the technology stack. He also discusses the potential buyers for his properties, including REITs and private equity groups.
Key Takeaways:
Converting existing properties into climate-controlled self-storage units offers prime locations, higher quality buildings, and cost savings compared to ground-up construction.
Evaluating supply and demand in a market is crucial before undertaking a conversion project, especially in underserved secondary markets.
Technology-enabled management, including digital locks and a comprehensive tech stack, allows for remote operations and a self-service rental process.
The use of technology streamlines operations, reduces expenses, and improves the customer experience, leading to higher occupancy rates and profitability.
When planning an exit strategy, it is important to consider the transferability of the technology stack and cater to potential buyers' preferences and needs.
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By Taylor The InvestorInvesting with Taylor: www.investwithtaylor.com
Manage your properties with Stessa https://stessa.sjv.io/c/2425882/1152983/14113
Jonah Hall is an experienced self-storage investor who specializes in converting existing properties into climate-controlled self-storage units. He started his journey in self-storage in 2017 and has since completed 20 conversion projects. Jonah focuses on secondary markets and leverages technology to streamline operations and provide a self-service experience for customers. He is known for his expertise in remote management and has built a team to handle the day-to-day operations of his properties.
Episode Summary:
Jonah discusses the benefits of adaptive reuse projects and how they offer a prime location and higher quality building compared to ground-up construction. He also explains the process of evaluating supply and demand in a market before undertaking a conversion project. The conversation then shifts to the technology-enabled management of Jonah's properties.
He highlights the use of digital locks and a comprehensive tech stack that allows for remote management and a self-service rental process. Jonah emphasizes the scalability and cost-effectiveness of these technologies and how they contribute to the bottom line of his properties.
Finally, the episode explores Jonah's exit strategy and the challenges of selling properties with advanced technology to buyers who may not be ready to adopt it. Jonah shares his approach of partnering with established software and hardware vendors to ensure the transferability of the technology stack. He also discusses the potential buyers for his properties, including REITs and private equity groups.
Key Takeaways:
Converting existing properties into climate-controlled self-storage units offers prime locations, higher quality buildings, and cost savings compared to ground-up construction.
Evaluating supply and demand in a market is crucial before undertaking a conversion project, especially in underserved secondary markets.
Technology-enabled management, including digital locks and a comprehensive tech stack, allows for remote operations and a self-service rental process.
The use of technology streamlines operations, reduces expenses, and improves the customer experience, leading to higher occupancy rates and profitability.
When planning an exit strategy, it is important to consider the transferability of the technology stack and cater to potential buyers' preferences and needs.