Thursday Aug 22, 2024

John Lindsey: Finding Success Brokering The Sexiest Asset Class | Ep. 77

Summary

In this conversation, Nick James and Nick Aufenkamp interview John Lindsey, the Self Storage Jedi Master, about his experience in the self-storage industry. They discuss how John got involved in the business, the evolution of self-storage as an asset class, and the growth of his brokerage company. John shares insights on the long sales cycle in the industry, the importance of cash reserves, and the challenges and opportunities of expanding internationally. He emphasizes the need for commitment and patience in building a successful career and advises entrepreneurs to focus on people over products. In this conversation, the Self Storage Jedi Master shares insights on investing in self storage and offers advice for first-time investors. He emphasizes that there are still opportunities for unsophisticated investors in the self storage space, but it is becoming increasingly competitive. He suggests that investors consider partnering with reputable funds or operators to learn from them and make good returns. The Jedi Master also warns against bad advice in the industry, such as unrealistic projections of raising street rates indefinitely. He encourages entrepreneurs to prioritize their well-being and family, and to have an abundance mindset.

Takeaways

Self-storage has evolved from a land banking strategy to a mainstream asset class.
The self-storage industry has experienced significant growth and is now a sought-after investment.
Building a successful career in self-storage requires commitment, patience, and a long-term perspective.
Having cash reserves and controlling debt are crucial for navigating market fluctuations.
Expanding internationally in the self-storage industry offers new opportunities and challenges.
Investing in people and building relationships is key to success in the industry. There are still opportunities for unsophisticated investors in the self storage space, but it is becoming increasingly competitive.
Consider partnering with reputable funds or operators to learn from them and make good returns.
Beware of bad advice in the industry, such as unrealistic projections of raising street rates indefinitely.
Prioritize your well-being and family, and have an abundance mindset.