How to Buy Your First Self Storage Facility (and Why You Should) | Scott Meyers
Description
#512 Have you ever wondered if self storage could be your next big business move? In this episode hosted by Kirsten Tyrrel, we sit down with the master of the metal box empire himself — Scott Meyers! Known as the nation’s leading expert on self storage investing, Scott breaks down how he traded the chaos of traditional rentals for the simplicity and scale of storage facilities — and now teaches others to do the same. He shares exactly what makes self storage such a powerful investment vehicle, why it has the lowest loan default rate in commercial real estate, and how to evaluate and acquire your first facility. From startup costs and profitability benchmarks to tech-driven marketing strategies and scaling through syndication, Scott delivers a comprehensive 101 on building cash-flowing assets without the headaches of tenants and toilets!
What we discuss with Scott:
+ Transition from rentals to storage
+ Why self storage is low-risk
+ Startup costs and funding options
+ How to evaluate a facility
+ Common reasons facilities are sold
+ Marketing mistakes owners make
+ Leveraging tech for growth
+ Building vs. buying facilities
+ Scaling through syndication
+ Creating passive income with storage
Thank you, Scott!
Check out Self Storage Investing at SelfStorageInvesting.com.
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