106: How to Build and Profit from a Self-Storage Facility with Kevin She
Invest Like a Boss
Sam Marks Johnny FD Derek Spartz
4.8 • 518 Ratings
🗓️ 12 October 2018
⏱️ 71 minutes
🧾️ Download transcript
Summary
Kevin She is the owner of SC Storage, Hong Kong's leading low-cost self-storage provider with over 60 convenient locations in Hong Kong and Macau, and more than 18,000 self-storage units. He started his self-storage business 18 years ago and has consistently grown in locations and customers. When it comes to self-storage, he is the king!
On this episode, Kevin reveals the step-by-step process of setting up a self-storage facility - from choosing the location to promoting the business. He explains the fundamentals of self-storage and why it is a perfect real estate investment scheme. This discussion teaches entrepreneurs some tips and strategies on how to build a million dollar business, self-storage or not.
Where we are:
- Johnny - Chiang Mai
- Sam & Kevin - Iceland
Links:
- Scstorage.com
- Sam's IG - Instagram.com/imsammarks
- Pro pics in Iceland, Contact Michelle Pederson @ Michellepedersonphoto.com
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- Traveling Mailbox - get 5% off subscriptions with 'ILAB' promo code
Time Stamps:
- 13:24 – Kevin She’s Background
- 13:54 – The Process of Setting up Self-storage
- 17:01 – The Building Formula
- 21:06 – The Renovation Process
- 23:20 – Real Estate Hack
- 25:20 – System Input & Customer Access
- 31:52 – Marketing Strategies to fill-up these Storages
- 36:53 – Cap Rates for Self-storage
- 38:34 – Self-storage business competitions
- 40:04 – Billing defaults & late fees
- 44:57 – Possible disruptions on self-storage businesses
- 47:01 – When storage owners become unreachable
- 51:56 – Countries with good self-storage business potential
- 59:33 – Recession & Regulation risks
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Transcript
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| 0:00.0 | Hi bosses, Sam here. This week's episode is brought to you by Traveling Mailbox. Traveling |
| 0:04.5 | Mailbox is a virtual mail solution for businesses and entrepreneurs. It's going to be the future |
| 0:09.7 | for all of us. Virtual Mailboxes, my gosh, I wish I had gotten started with this years ago, |
| 0:14.5 | being on the road as much as I have, and always moving addresses, mail, including checks, |
| 0:19.2 | regularly go missing. As any regular listeners know, |
| 0:22.6 | two months, I've had two different things end up in collections simply because they went to the |
| 0:27.5 | wrong address and I never received them. Now I'm in Greece as part of a two-month European |
| 0:31.5 | circuit. I no longer worry about mail. Traveling mailbox receives all my mail, scans it to an email, |
| 0:37.2 | and then lets me decide what |
| 0:38.7 | I want to do with it, whether it's shred it, forward it, or even deposit checks on my behalf. |
| 0:42.9 | It truly makes life, investing, and business more efficient and worry-free. |
| 0:47.3 | Traveling mailbox has given us a 5% off promo code. If you want to try it, I definitely recommend |
| 0:52.0 | it. Just go to the link in our show notes and use promo code, ILab. |
| 0:56.0 | It's a great service. |
| 0:57.2 | Get after it. Welcome to the Invest Like a Boss podcast. I'm Sam Marks. And I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss. Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash. |
| 1:15.8 | Hey, guys, this is Johnny, and welcome to episode 106 of an Invest Like a Boss podcast. |
| 1:21.4 | I'm in Chiangai, Thailand, and Sam, are you in Iceland or where are you now? |
| 1:26.7 | Hooga. |
| 1:44.6 | Hooga. Oh, that was actually Denmark. I forgot. What did they do? What did they say in Iceland? I don't know. I have no idea. I can't pronounce any Icelandic words. Rijivik. I can't either. I think it's probably one of the most difficult languages in the world to know, if not the most. Yeah. |
| 1:44.7 | It's a really odd. |
| 1:47.1 | It doesn't sound like anything at all. |
| 1:49.1 | It's almost like a bit of Middle Eastern, a bit Nordic, and then all different types of things thrown in there. |
... |
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