Additional Income from Empty Spaces with Joseph Woodbury, Ep 95

Journey to Multifamily Millions

Today's guest is Joseph Woodbury, he is the Co-Founder and CEO of Neighbor.com. Joseph has pioneered the concept of full-property monetization, helping investors maximize returns by transforming underutilized spaces into profitable storage solutions.

This episode has Joseph Woodbury delving into the expansion and possibilities of the self-storage industry, which is currently the fastest-growing sector of the commercial real estate market in forty years. He clarifies how Neighbor.com increases the value of properties by turning vacant areas into profitable storage options.

He talks about listing techniques, Neighbor.com's financial strategy, and its effect on property revenue, covering anything from residential garages to multifamily properties. They also discuss the use of technology in pricing optimization and the transformation of bankrupt office buildings into storage units. Value, safety, rules, and flexibility are emphasized as being extremely important factors for both landlords and tenants in this dynamic market.

Episode Topics

[01:15] Meet our guest, Joseph Woodbury
[03:01] How Neighbor.com Works: A Deep Dive into the Process
[04:41] Expanding Beyond Residential: The Commercial Storage Revolution
[08:28] The Multifamily Storage Opportunity: Unlocking New Revenue Streams
[11:35] Safety and Customization: Tailoring Storage Solutions for Multifamily Properties
[25:04] Exploring the Future of Storage: Trends and Opportunities
[31:51] What is one red flag every investor should look out for?
[32:45] What is a myth about the real estate business?
[34:20] Connecting to Joseph

Notable Quotes

• "We started with a simple idea: unused space in every neighborhood could be rented out for storage." - Joseph Woodbury
• "Neighbor operates like Airbnb for storage, making it easy to list your space and find renters while ensuring security." - Joseph Woodbury
• "When it's not your primary use, it's much easier to implement without changing the building or permitting." - Joseph Woodbury
• "Multifamily is the most attractive. You've got two new revenue streams coming to your property." - Joseph Woodbury
• “You're able to drill down to the local market to ensure you're in line with competitors." - Tim Little
• Self storage is very sticky because people just buy more stuff. The need doesn't go away once they have it." - Tim Little

👉Connect with Joseph Woodbury

• LinkedIn: Joseph Woodbury
• Website: Neighbor
• Email: [e-mail]
• Telephone: [phone]

👉 Connect with Tim

• Linkedin: Tim Little
• Instagram: @tim_at_zana
• Email: [e-mail]
• Visit www.ZANAinvestments.com for more info on Tim and how you can passively invest in multifamily real estate
• Get your Passive Investor's Cheat Sheet FREE

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https://podcasts.apple.com/us/podcast/journey-to-multifamily-millions/id1634643497