Self Storage Knowledge Base: https://retipster.com/category/self-storage-investing/?utm_source=youtube&utm_medium=social&utm_campaign=blog&utm_content=wmCH2X8KEMY Join Our Community: https://welcome.retipster.com/newsletter/?utm_source=youtube&utm_medium=social&utm_campaign=blog&utm_content=wmCH2X8KEMY 0:00 - Intro 0:34 - When and why did you enter the storage business? 1:31 - What's the size of your facilities? 2:03 - What makes this facility unique? 2:25 - Is there growing demand for self-storage? 3:00 - Has your business been impacted by the economy? 3:41 - Self-storage Investments: How to find new opportunities? 5:05 - Any improvements to this facility? 5:38 - Is this land currently used for RV parking? 6:57 - What's the typical deferred maintenance when buying an existing facility? 7:42 - Facility Management Software 10:00 - Challenges when switching facility management software? 11:10 - Why switch from ESS to Storage? 12:04 - What research before buying a self-storage facility? 13:11 - Why increase rental rates among your first moves as a new owner? 14:09 - How much can you increase rental rates before people leave? 15:54 - What's your role in the day-to-day operations of this business? 17:53 - Are there ever emergencies in this business? 18:40 - What would you do differently today if starting over? 20:04 - How much capital is needed to start this business? 21:05 - Does borrowing power increase as you buy more facilities? 22:11 - What's the purchase price and cash needed for a facility of this size? 23:35 - Have you ever built a new facility instead of buying one? 23:57 - Boxwell Self-Storage Units- Hidden features and benefits 25:23 - How did you accelerate business growth? 27:00 - How is property value determined? 27:56 - Have any of your facilities performed better or worse than expected? 28:57 - What's your 5-year business plan? 29:24 - What unique challenges have you faced in this business? 31:39 - What are your security cameras most useful for? 32:36 - How do you deal with the anxiety of something bad happening? 34:28 - What's your unfair advantage in this business? 35:44 - What encouragement for those wanting to enter this business? 37:29 - How many hours a week do you work? Are you tired of working a 9 to 5 job and feeling like you're not making enough money to live the life you want? Are you seeking a way to gain financial freedom and live on your own terms? If so, you're in the right place. In this video, we're talking with Jon Farling about his self-storage business and how he used it to quit his job and live a financially free life. First, we'll talk to Jon Farling about how he bought 11 storage facilities in just 4 years. He'll tell us how he started the storage business and found facilities to buy. Jon will also share his insights on managing each facility remotely, setting goals, and overcoming limiting beliefs. He'll give us a glimpse of how this business has allowed him to live the life of his dreams. Jon's story is fascinating, and he has plenty of personal anecdotes to share. We'll hear how he started small, with a single storage unit, and grew his business. He'll also share his failures and the lessons he learned, giving viewers valuable insights into the self-storage business. But Jon's story is just the beginning. We'll also discuss the benefits of investing in self-storage, including the low overhead costs, passive income potential, and high ROI. We'll cover the basics of self-storage investing, such as how to find and evaluate facilities, how to secure financing, and how to manage and maintain your facilities for optimal success. Self-storage can be an excellent way to quit your job and live a financially free life. Jon Farling's story is a testament to the potential of this business, and we hope his insights have inspired you to consider this strategy for your own financial future. So, if you're ready to take the next step, we invite you to join us on the REtipster forum and share your experiences with self-storage investing. #selfstorage #selfstoragefacility #selfstorageinvesting #retipster #realestateinvesting #realestate #realestateinvestor #realestatelife #passiveincome #passiveincomebusiness #passiveincomestrategies #lifestylebusiness