There’s a strategy that smart investors use to take down multiple self storage deals in a relatively short amount of time, all while “recycling” the cash they initially put into that first deal. Tony McNickle and Dennis Pham used this exact blueprint to buy their first two deals, and it won’t be long before they’ll have built an entire portfolio of cash-flowing self storage facilities.
After connecting through our Inner Circle community just a few years ago, Tony and Dennis formed a partnership, combined their capital, and melded their expertise in small business and commercial real estate. It was the perfect pairing, as within a few months, they already had their first deal under contract—a 20,000-square-foot, mom-and-pop facility they were able to improve and stabilize before pulling 150% of their cash back out.
Then, with confidence and capital from that first deal, Tony and Dennis took down a much larger, 71,000-square-foot property and plan to repeat the process all over again. In this episode, they walk through both of these deals, discuss the many advantages of partnerships, and share the hybrid management model they’re using to streamline self storage operations while maintaining a personal touch.
What you’ll learn in today’s show:
- How Tony and Dennis found, bought, and stabilized their self storage facilities
- “Recycling” 100% (or more) of your capital with a cash-out refinance
- Supercharging your investments and scaling fast through the power of partnerships
- Nurturing face-to-face seller relationships to find better self storage deals
- Simple, high-ROI upgrades to implement within your self storage business
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Join the Self Storage Income Community - https://www.selfstorageincome.com/inner-circle
DXT Partners - https://www.dxtpartners.com/
