FBF #749: Self-Storage, Facility Investments, and so much more!

Today's Flash Back Friday episode is from #348 that originally aired on Oct. 25, 2021.

Scott Myers is a Self Storage Expert and the President of Kingdom Storage Holdings.

Scott has acquired, sold, developed, and/or converted over 40 facilities totaling over 14,000 units and over 2.4 million sq. ft of storage. He is also the Founder and President of: SelfStorageInvesting.com, a leading self-storage education company that offers courses, live events, and mentoring/coaching.

Scott's devotion to both his family and his faith is illustrated through his charity and mission work both locally and around the globe. Here, he focuses on funding, building, and giving away homes to deserving families.

Quote:

"Nobody cares 1% as much about your facility or your apartment complex as you do…Just bottom line. Nobody is going to be able to fight for every dollar that comes in the door and fight to reduce every expense and line item in your P&L like you would, period."

"Storage has really benefitted during this pandemic and it benefitted during a recession…because when there's trauma in transition businesses downsize, people move in with their family and friends, then the demand for storage goes up."

Highlights:

02:24 - Scott tells listeners about his background in real estate.

07:24 - Scott discusses the impact of the 2008 recession on the real estate and self-storage spaces.

11:17 - Scott tells us about creating a holding company.

13:56 - Scott describes running a third-party management.

23:48 - Scott talks to those who are looking to getting their first facility.

28:00 - Scott speaks about lending and the types of debt in the Self-Storage market.

34:00 - Scoot talks about sensitivity to rent increases.

37:26 - Scott talks about one of his worst deals.

Guest Website:

https://selfstorageinvesting.com/

☑️ Recommended Resources:

Check out our company and our investment opportunity by visiting www.SunriseCapitalInvestors.com

Self DirectedIRA Investment Opportunity–Click Here: https://www.advantaira.com/partners/s... To Learn More About How You CanInvest With Us Through Your SDIRA

Accredited Investors Click Here: https://sunrisecapitalinvestors.com/ to learn more about partnering with me and my team on Mobile Home Park deals!

Grab a free copy of my latest book "The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them MobileHomeParkAcademy.com

Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2