178. Understanding Market Demand & Navigating Risk in an Uncertain Economy

Storage is incredibly localized. Generally, these 3-5 mile zones are what is considered a standard market radius. This means that storage can perform amazingly even when the economy is hurting. But the opposite is true: the market can be doing great and your facility could be failing.  How you execute and react to changing market conditions matter more and more. The market is no longer in the place where being in the market automatically yielded high returns. Consumers and investors are both feeling the pressure from economic conditions, and every decision has more of an effect today and it did just two years ago. In this episode, we discuss some of the criteria of how we look at facility markets and how to truly understand the effects of supply and demand, even in a localized area. But not only that, we also discuss the potential benefits and consequences that arise from an unstable or unpredictable market. Grab my audiobook Growing Wealth in Self Storage for FREE: https://www.selfstorageincome.com/free-audiobook  Our partners: Janus International - https://www.janusintl.com/ Live Oak Bank - liveoakbank.com/incomepodcast Tenant Inc. - https://www.tenantinc.com/ Want to invest in storage without dealing with the day-to-day operations and management? Learn more about our syndication company Cedar Creek here: https://www.cedarcreekwealth.com/