533: No Tenants, Toilets, or Trash? It's Possible, Through Self Storage w/ Paul Moore

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 18 November 2021

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s easy to get caught up in the world of residential real estate investing. Maybe buy a single-family buy-and-hold deal, or try and flip a house, or why not BRRRR? But, residential real estate comes with many challenges: complicated evictions, clogged toilets, a noisy tenant in your upstairs unit, and many, many more. But, there is an asset class you can invest in without toilets, tenants, or trash problems. Paul Moore, author, capital raiser, and real estate educator joins us to talk about his newest obsession: self storage investing. Why self storage? Maybe it’s because nobody is living in the property, or that many existing facilities have HUGE value-add potential, or maybe it’s the tax savings, or the ability to increase equity by hundreds of thousands, if not millions, seemingly overnight. There are so many reasons why self storage investing could be one of the greatest yet rarely spoken of assets in the world of real estate investing. Wondering how you can get started in this high-profit, low-maintenance investing world? Grab Paul’s new book, Storing Up Profits! In This Episode We Cover: Why commercial real estate allows you to build wealth faster, smarter, and with scale The four strategies you can use to build your self storage empire The massive tax-saving strategies you may be missing out on Looking for value-add that’s hidden in plain sight The seven paths a new investor can take to get started in the self storage industry Income opportunities that could turn thousands in revenue into millions in equity And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Blogs BiggerPockets Podcast 285: 3 Reasons Multifamily Rentals Might Be the Perfect Investment with Paul Moore BiggerPockets Podcast 286: $13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ Osborne Paul Moore’s Blogs in BiggerPockets Blog Blackstone U-Haul Airbnb Forbes Amazon Wellings Capital Sam Zell J Scott's Personal Website Tarl Yarber's BiggerPockets Profile Gary Keller Jeff Bezos Tom Wheelwright's Personal Website Check the full show notes here: https://biggerpockets.com/show533 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast show 533 where we talk about self-storage strategies,
0:06.2	super-charging NOI, and saving taxes with Bigger Pockets author Paul Moore.
0:11.6	This is very powerful and the point is in all of commercial real estate you have an asset,
0:17.3	and if you can find a way to significantly increase the income by extracting that extra value,
0:23.1	you can get great returns. What's going on everybody this is David Green, your host of the
0:34.4	Bigger Pockets Podcast where we teach you how to build wealth through real estate.
0:40.2	We dive into the tactics and mindset of our guests who have been successful in specific
0:44.8	niches of real estate and break down their strategies so you can follow them and have the same
0:49.9	results as long as you take the same consistent action. Today I am going to be speaking with
0:56.0	Bigger Pockets new author Paul Moore who wrote the book for Bigger Pockets on self-storage.
1:02.3	This is a fantastic conversation. It is literally one of the best ones that we put out.
1:07.2	Paul goes into incredible detail about just how you can get into the self-storage game.
1:12.5	I know after listening to this I was thinking this doesn't seem so bad. I think I can get into it
1:16.8	as well. Paul does a great job of highlighting just why you would want to. A lot of the things
1:23.5	that stop people from investing in real estate traditionally Paul calls them toilets trash
1:27.8	and tenants. They're not a problem in the self-storage space. It's much easier to add value in
1:33.3	these ways than it would be in traditional residential real estate in many cases. One point that
1:37.9	came up during this conversation that I didn't think of. The contractors that you need to add the
1:42.1	value in the self-storage space are more readily available than they are in the residential space.
1:47.1	This is a way that you can go left when everybody else is going right. It might be the most informational
1:52.5	interview I've ever done on a specific topic. Make sure you listen to this one all the way
1:58.1	through and take some really good notes because by the time this is done you are going to want to
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