286: $13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ Osborne
Publish Date: 2018/7/5
BiggerPockets Real Estate Podcast
Frequently requested episodes will be transcribed first
Shownotes Transcript
<p>Ever have a conversation that is just impacts your life so powerfully you wish you could share it with everyone? That’s exactly what our conversation on today’s episode of <a href="https://www.biggerpockets.com/podcast">the BiggerPockets Podcast</a> is! Our guest, <strong>AJ Osborne</strong>, shares an incredible story of building his real estate business — which focuses on self-storage facilities — as a way to transition his family from <em>rich</em> to <em>wealthy</em> (and yes, there is a difference!) This show is <strong>packed</strong> with insight from AJ, including:</p><ul>
This show is one of the most powerful episodes yet of the BiggerPockets Podcast, and we’re excited for you to dive in!
In This Episode We Cover:
- His first deal that didn’t go the way he wanted… but the logic behind doing that deal (super important for every newbie)
- The difference between being rich and being wealthy
- Picking a wealth vehicle — and the difference between a Ferrari and a train
- How to find an underperforming self storage building and turn it around (applies to any kind of real estate)
- The Kmart story that helped him build around $13,000,000 in equity
- Price / Convenience / Quality
- Coma: “One of the most incredible stories I’ve ever heard”
- Subsequent: Does your business survive “the coma test”?
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Webinar
- BiggerPockets Podcast 245: Creating Wealth that Lasts Generations with Bestselling Author Ryan Holiday
Books Mentioned in this Show
- The Essays of Warren Buffett by Warren Buffet & Lawrence A. Cunningham
- The Obstacle is the Way by Ryan Holiday
- Conspiracy Ryan Holiday
Fire Round Questions
- What are the conditions that make for an ideal development opportunity?
- Is there any issue with renting out a storage unit in a self storage facility then subleasing it out to someone else?
- Is Loopnet the best source for self-storage deals or is there another website that focuses exclusively on self-storage?
- Managing Self Storage how far is too far?
Tweetable Topics:
- “It’s not about overthinking things. It’s about finding things that work and putting them into action quickly.” (Tweet This!)
- “There’s no way you win in life without having your agenda and being purposeful towards your agenda.” (Tweet This!)
- “The economic downturn was my lucky break.” (Tweet This!)
- “Work ethic is not enough.” (Tweet This!)
Connect with Aj
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