When you think about investing in real estate, buying and selling property, renting out Airbnb, and flipping houses probably comes to mind. While all such ventures are profitable, one particular niche hasn’t been explored wholly, albeit its ability to generate stable income- the self-storage business.
According to IBIS World, this real estate niche generates $184,500 annually, a decent income for a business that doesn’t need much capital input. If this sounds like something you’d be interested in, AJ Osborne’s playbook – The Investors Guide to Growing Wealth in Self Storage might be useful.
With over a decade’s experience in the trade, AJ shares insights into investing in the business. Here’s more about the guide.
I want to be upfront before we go any further. This course WILL teach you more about operating a self-storage business. What it WON’T teach you is how to make it your full-time job! If you’re looking to start your first business here, this program can’t give you the experience you need. You need the life experience of how to take a business from failing to success, or AJ Osborne’s program won’t do you any good.
My other issue with this business model is you have to CONTINUALLY be on the search for new clients. I prefer a much more autopilot business model. A business I can setup that runs without me needing to keep hustling for new clients.
Here is a much more beginner-friendly business model where you can replace your day-job all by yourself, without all the extra client hustle. On top of that, you own all the products, keep all the profits yourself, and takes less time to setup than ecommerce. I have a free video showing this business model here. My own teenagers are using this to make money every week!
Click Here to Get The Course My Daughter Used.
The course my daughter used above is a much more autopilot model than AJ Osborne’s program. But since you are here to learn about AJ Osborne, lets get back to our review of that:
Who is AJ Osborne? The Brains Behind The Investors Guide to Growing Wealth in Self Storage
AJ Osborne is an investor, entrepreneur, and businessman. He started as an insurance and later followed in his father’s footsteps as a real estate investor. However, AJ quickly felt that real estate wasn’t his thing. The income was too uncertain and the large chunk of money that went to the government in taxes.
As a result, AJ decided to venture into the self-storage business. He and his father decided to purchase a small self-storage facility and rent it to customers. AJ has since made investments in the business, buying and renting out units to potential clients.
He loves that the business provides a stable source even when he can’t work. The business particularly helped him when he fell sick with paralysis for nearly six years. He could still feed his family and pay bills, and the value of his self-storage portfolio increased.
This experience made him so passionate about the business that he decided to help others learn about it through his book- The Investors Guide to Growing Wealth in Self Storage. He has a 100 million-dollar portfolio of self-storage units occupying over 1.5 million square feet today.
He plans to expand his portfolio even further by adding seven facilities and inviting interested investors to join him. AJ Osborne also owns and operates an insurance brokerage, is the CEO of Cedar Creek Wealth, and is a key speaker at national conferences discussing various topics relating to self-storage. He also hosts Self Storage Income, the most influential podcast about self-storage.
What is the Investors Guide to Growing Wealth in Self Storage Book?
Growing Wealth in Self Storage is a step-by-step playbook that helps you invest in the self-storage business. It helps you identify investment opportunities, invest in a unit, and leverage management expertise to convert it into an income-generating business. Here are three points to summarize the book:
Find Out the Risks of Investing in Self Storage Business
Having worked in the industry for over 20 years, OJ helps you understand the risks of investing in a self-storage business. He notes that the biggest threat to this business is the likelihood of oversupplying the asset, causing the rates to drop and vacancy rates to increase.
The Business is Highly Localized
AJ asserts that the business is highly localized, hence the need to find units nearby, usually within a three-mile radius. For example, Texas is one housing market, but there are over 100 different self-storage markets.
Self-storage is Different from House or Apartment Rentals
Osborne notes that business people often can’t differentiate between a self-storage business and an apartment or house up for rent. He cautions investors to treat the units as self-storage, not a house rental.
As such, you want to treat it like a retail store where people come in to buy different products. For example, a client looking for space to store household goods will get a different unit from one looking to store an RV trailer during the winter.
What is the Cost of Investors Guide to Growing Wealth in Self Storage Book?
A hard copy of the book costs $24.95, while a paperback version costs $15.89. However, those who prefer the audio or Kindle formats of the book get it for free.
What Do Others Think About Investors’ Guide to Growing Wealth in Self Storage Book?
Although the book is affordable, it’s important to determine if it provides value to its prospective audience. Here’s what I found:
Incredibly Informative
This client found the book helpful given that he is a self storage owner too.
Great for Learning the Basics of Operating a Self Storage Business
This client found that the book helps aspiring business people understand the basics of operating a self-storage business. However, he also recommends listening to AJ’s podcasts and videos to understand the business better.
Switched to the Self Storage Business
The client learned about AJ and the business after investing in single and multi-family units in a small market. It marked his turnaround as he switched to the self-storage business and has never looked back ever since.
Should You Invest in the Investors Guide to Growing Wealth in Self Storage Book?
Although the self-storage business isn’t new, it remains largely unexplored. Most people hardly know how to operate the units, while others haven’t heard about it. AJ Osborne is kind enough to share his knowledge from his wealth of experience using a book worth a little over $20. If you’re interested in the business, it’s definitely worth buying the book.