A Self-Storage Broker's Warning to First-Time Buyers
Notes de l’épisode
Is the self-storage brokerage relationship the most misunderstood edge in storage investing? And are first-time buyers quietly destroying their own deal flow without knowing it?
Joe Downs sits down with David Perlleshi, Managing Director of Self-Storage at Franklin Street, one of the nation's leading self-storage brokerage firms.
David leads a national team with a buyer list of 10,000–15,000 active prospects and is currently on the front lines of a wave of COVID-era vintage loans from 2019–2022 coming due into a dramatically higher-rate environment.
He and Joe dismantle the fear-based myths holding first-time storage investors back, from lowball offer anxiety to blacklist paranoia, and reveal what actually gets a buyer frozen out.
With more than $1 trillion in commercial real estate loans maturing in the next two years, the storage investing window is opening.
The investors who understand how to work with brokers right now will be first in line.
Listen For:
4:12 Is self-storage really one of the most recession-proof asset classes lenders track?
11:50 Did compressed cap rates in 2021 create the underwater loan crisis hitting storage owners right now?
23:53 Why does a broker's commission structure make them just as motivated to find you a deal as close one?
25:43 Are $1 trillion in maturing CRE loans about to flood the self-storage market with new inventory?
26:43 What expansion opportunities are first-time storage investors missing on listings?
CONNECT WITH GUEST: DAVID PERLLESHI, MANAGING DIRECTOR, SELF STORAGE INVESTMENT SALES | FRANKLIN STREET
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60 minutes
Storage Moguls Live. Friday, October 16 in White Marsh, Maryland. One day with self storage owners. Walk through a real facility and learn how they find, finance, and close deals. Only 15 tickets. Register at https://go.storagemoguls.ai/white-marsh-md before Thursday.
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