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Self-storage is one incredibly fascinating area within the real estate investing industry. Self-storage investing involves many of the staples of running a real estate business like taxes, acquisition, and monthly cash flow—but without having to worry about on-site tenants.
On this episode of Investing in Real Estate, I’m joined by Scott Krone of Coda Management Group. Scott is here to share his unique approach to self-storage investing, including building a simplistic business model and why demographic trends can create a need for self-storage. You’ll learn about converting buildings for self-storage, what it takes to get started, and much more!
On this episode you’ll learn:
How Scott got involved in self-storage real estate investing.
Why Scott’s business model is different than traditional self-storage investing.
What the conversion process looks like.
The types of improvements that make a building suitable for self-storage.
Why the self-storage business remains steady in a down economy.
Typical vacancy rates for self-storage facility.
If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.