#348: Self-Storage, Facility Investments, and so much more! -with Scott Myers
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.9 • 675 Ratings
🗓️ 25 October 2021
⏱️ 42 minutes
🧾️ Download transcript
Summary
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/
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- 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
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Transcript
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| 0:00.0 | You've been searching for the best way to generate passive income in your life and heard that real estate is a great way to do it. |
| 0:09.4 | But you're tired of all the so-called gurus who are all talk and no substance. |
| 0:15.2 | Get ready to celebrate because Kevin Buck has spent 14 years successfully making it happen. |
| 0:21.7 | This is the Real Estate Investing for Cash Flow podcast. |
| 0:25.2 | Now, here's Kevin Bup. |
| 0:30.1 | Hey guys, Kevin Bup here, and I want to welcome you to another episode of the Real Estate |
| 0:33.8 | Investing for Cashflow podcast, where mission is to help you build and maintain massive amounts of cash flow |
| 0:39.1 | through income producing real estate investments. |
| 0:41.9 | And our guests for this week's show is self-storage expert |
| 0:44.2 | and president of Kingdom Storage Holdings, Scott Myers. |
| 0:47.8 | Now, Scott has acquired, sold, developed, and or converted over 40 facilities, |
| 0:52.1 | totaling over 14,000 units and 2.4 million square feet of |
| 0:56.0 | storage. He's also the founder and president of self-storage investing.com, a leading self-storage |
| 1:01.1 | education company that offers courses, live events, and mentoring and coaching. And aside from |
| 1:06.2 | his real estate activities, I think probably one of the coolest things about Scott is his |
| 1:10.3 | dying devotion to both |
| 1:11.7 | his family and his faith. And Scott's very active in his charity and mission work, both locally |
| 1:16.8 | and around the globe. And then funding and building homes and giving them away to deserving families, |
| 1:22.0 | which is really, really cool. I've been wanting to do it with them for years now. And ultimately, |
| 1:25.2 | one of these days, I'll take my son with me and we'll go do that with Scott. But he's given away lots of homes, the very deserving families. |
| 1:30.7 | And Scott's a real deal, guys. And so I'm excited to welcome it back. It's been a lot of, you know, |
| 1:34.7 | many years since we had them on. And so excited to have them back catch up. I'm doing well. How about yourself? Yeah, doing great. Families well. Everyone's healthy. And so life is good. That's all it really |
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