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Ep 154: Is self-storage better than apartments and houses? | Jacob Vanderslice
07:41 – They’ve been studying the self-storage business for a number of years and leading up to their first deal. They did their first acquisition through a programmatic joint venture with some high net-worth guys and a life insurance company that they did in Denver.
09:38 – The best way for someone to learn how to do real estate is to go out and do a deal. Try to do the right deal and try to buy it right but don’t think too hard about it. If you lose a bit of money, you can look at that as your education of real estate.
09:52 – You can file the principles that you learned by making mistakes into your next deal. But being active in the investment space and pulling the triggers is the best way to learn.
10:15 – We haven’t learned anything from our home runs, we have learned so much from our mistakes.
15:06 – You can respond realtime to supply, demand, and changes not only within the submarket but on the specific unit type.
20:48 – The first step is to buy a deal. Like we mentioned earlier, the best way to learn the business is to buy a deal. You can read books, you can get educated but you’re not gonna learn as much unless you actually go out there and operate it.
21:00 – If you are gonna buy a storage facility, one of the first things you should consider are the supplies ratios in the submarket. Self-storage is very supply sensitive. Make sure you understand the seasonality of the submarkets.
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