According to industry experts, storage space is in high demand, and it's expected that the self-storage industry will grow in size and demand as the years roll by. In a detailed conversation with Jacob Vanderslice of VanWest Partners, a top-notch self-storage operator, the intricacies of this booming industry are delved into. Starting with a pivot from multifamily units to self-storage, Jacob underscored the potential profit margins and emphasized the gravity of meticulous expense and income management. The evolving role of REITs, with the mention of significant mergers involving giants like Life Storage and Public Storage, formed a key discussion point. Jacob also touched on the importance of additional revenue streams, such as tenant insurance and late fees.
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[00:00 - 10:26] The Resilience of the Self-Storage Market
[10:27 - 21:31] Strategic Investment in Self-Storage
[21:32 - 28:53] Inside Self-Storage: Mergers, Revenue Insights, and the Philanthropic Heart of VanWest Partners
"The model always lies. The model will tell you whatever you want it to, and the deal never goes like the model says it will. It either goes better or it goes worse." - Jacob Vanderslice
"So much of the value creation in commercial real estate investing is about controlling expenses and growing top line revenue which equates to net operating income growth." - Jacob Vanderslice
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