In this episode, Andrew Bean shares an in-depth look at his newest self-storage value-add project located on the Central Coast of NSW. Building on the success of his previous $5.7M to $8M transformation in Wollongong, Andrew walks us through how he sourced this underperforming asset, structured the deal, and is rapidly increasing its value through smart operations, automation, and future development potential.
Key Takeaways:
- The Self-Storage Strategy: Why industrial self-storage is Andrew's current investment focus and how it compares to SaaS-style recurring revenue businesses.
- Sourcing the Deal: The importance of long-term agent relationships and how patience and timing landed this opportunity.
- The Numbers: Purchase price at $3.2M, with an $81K increase in NET income already—boosting the property’s value by $1.3M within 8 months.
- Hands-On Value Add: Learn how Andrew cleaned up an overgrown site, implemented a management system, improved occupancy to 98%, and prepared the property for expansion.
- Future Upside: Plans to add 26 portable units and a full first-floor development, projecting the property’s value to hit $8M–$9M.
- The Deal Structure: How Andrew negotiated a win-win for all parties involved—sellers, agents, and property managers—using a creative license fee and option fee model.
Resources & Links:
- Connect with Andrew: andrewbean.com.au
- Email Andrew: ab@andrewbean.com.au
- Interested in joint ventures or value-add projects? Reach out to discuss upcoming opportunities.
Join the Community: Want to partner on future self-storage deals or learn how to apply these strategies to your own portfolio? Get in touch and see how you can get involved.
Check Out Our YouTube Channel Click HERE
HOSTED BY: Andrew Bean
Ph: 0410 694 633
Website: www.andrewbean.com.au
Email: ab@andrewbean.com.au
YouTube: @andrewbean28
LinkedIn: http://linkedin.com/in/andrew28
Download your FREE DIY Cash Flow Kit!
Start crunching numbers on your next Property like a PRO!
Click to Download: www.andrewbean.com.au
What’s Included:
- Cash Flow Calculator
Crunch the numbers & calculate returns on your next property deal.
- Inflation Risk Analyser
Figure out when your deal doesn't make sense if interest rates continue to rise.
- Value Add Calculator
Calculate to the exact dollar how much value you can add to your next deal.
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