231. Switching from Single Family Homes to Self Storage w/ Mike Moulton
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 6 February 2024
⏱️ 42 minutes
🧾️ Download transcript
Summary
Single Family homes and Self Storage facilities are drastically different assets. They are both a solid path of investment that can yield great returns. And as a homeowner (or a prospective one), self storage may seen complicated and out of your price range.
Like Mike, you may be a homeowner with 1 or multiple properties. He is an ex-corporate worker in the Charolette, NC area and used to be a player in long-term/short-term rentals for Single Family homes. Barely making it out of 2008, he eventually ended up in storage.
Three years ago, Mike bought his first Self Storage facility, a small deal under 10,000 sq.ft, moving up from there. Mike's story is inspiring and provides great insights into the nuances of being a new storage owner. Are you ready to take on the challenge?
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Ready to buy storage? Have your deals personally evaluated by AJ and our team!
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Transcript
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| 0:00.0 | Education without implementation is entertainment, right? |
| 0:03.7 | So a lot of people will just overeducate, over educate, and never actually do anything. |
| 0:08.8 | And that's the, you know, the best way to overcome your fears is to take action, right? |
| 0:14.1 | Yes. |
| 0:19.6 | One of the best ways to optimize management and to increase the value of your self-storage facility is through property management. |
| 0:27.8 | And that means you're going to need really good property management software. |
| 0:31.6 | That's where Tenet Inc. comes in. |
| 0:33.2 | These guys have a huge amount of tools at your fingertips that you guys can deploy to extract |
| 0:38.8 | the maximum amount of value at your storage facility. |
| 0:41.9 | Again, this is Tenant Inc. |
| 0:43.1 | Be sure to check them out. |
| 0:44.3 | They're all things property management. |
| 0:45.9 | It's truly your one-stop shop. |
| 0:47.9 | Check them out. |
| 0:48.5 | Link is in the show notes. |
| 0:50.4 | Welcome everybody to self-storage income. |
| 0:53.0 | And I am excited about today's episode because we're |
| 0:56.1 | interviewing my friend and a member of our inner circle Mike. Well, he went like all out. He got a big |
| 1:02.0 | deal. Really excited to go through this with them and hear how it went down, especially in these |
| 1:09.2 | challenging times that we've been in in the last eight months. |
| 1:13.1 | So it should be good. Yeah, no, I'm excited to dive into it and let Mike share his story with |
| 1:17.2 | everybody because, again, yeah, it has been challenging for a lot of people. And it's been amazing |
... |
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