FBF #755: Self-Storage, Facility Investments, and so much more! - with Scott Myers

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:

• Accredited Investors, you're invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club!

• If you're a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.

• Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.

• Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.

Learn more about Kevin's investment company and opportunities for Lifetime Cashflow at sunrisecapitalinvestors.com.