545: Self Storage Investing and Avoiding “Monster Houses” w/ Sergio Altomare

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 16 December 2021

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sergio Altomare didn’t start out investing in self storage. He made a massive leap, making lots of mistakes along the way until he found this gold mine of an asset class. For years, Sergio was buying small multifamily properties, one of them being a “monster house” which he later had to sell due to some serious zoning issues. Once he was introduced to syndications, he knew he could take his portfolio higher, without the headaches of large multifamily. Now, Sergio has twelve self storage facilities, with a combined valuation of close to $40M. He’s been able to increase his equity by many, many millions with simple value-add strategies like increasing rent, paving parking lots, and installing key-accessible gates for his customers. This isn’t the regular value-add you’re used to with granite countertops and freshly tiled showers; self storage value-add can be minimal with massive results. Sergio also dives into his long-term exit plans—something every investor should be thinking about. Are you planning on selling your properties one by one to the highest bidder, or will you package them up and walk away with a huge payday? In This Episode We Cover: What a multifamily “monster house” is and why you should avoid them Zoning laws and how they can affect your long-term profit The pros and cons of investing in self storage facilities What to look for in self storage facilities and other types of commercial real estate How to raise money for your deals (even if you’re a new investor) Defining your exit plan so you can walk away rich after building your portfolio And So Much More! Links from the Show: BiggerPockets Talent Search BiggerPockets on Itunes BiggerPockets on Audible BiggerPockets on Twitter Facebook Ads Google ads Radius Plus U-Haul's Facebook page Blackstone Open Door Capital Bird-in-Hand Self Storage The Real Estate InvestHER Facebook Community GoBundance Hearthfire Self Storage BiggerPockets Podcast 388: The 7-Step “Playbook” for Scaling Your Real Estate Business With AJ Osborne BiggerPockets Podcast 286: $13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ Osborne Paul Moore's BiggerPockets Profile Ashley Wilson's BiggerPockets Profile Liz Faircloth's BiggerPockets Profile Check the full show notes here: https://biggerpockets.com/show545 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Hey, everybody, it is David Green here.
0:02.9	As you all know, Brandon's stepping away from the show at the end of the month.
0:06.4	Now, we have some Grecohost lined up in the new year, and we also want to take this chance
0:10.3	to get to know anyone else out there who's interested in contributing their talent to
0:14.5	the bigger pockets podcast network.
0:16.7	If you think that's you, you can make a submission to our system at biggerpockets.com slash talent.
0:22.8	That's biggerpockets.com slash talent.
0:24.9	You'll see a few questions and a place to submit a video reel of yourself.
0:28.7	Again, that's biggerpockets.com slash talent.
0:31.5	If you'd like to lend your voice to the growing bigger pockets podcast network.
0:36.2	This is the bigger pockets podcast show 545.
0:38.7	Where we sit down with our body of Sergio Altamare.
0:43.0	When I'm looking at the guy that I'm competing with for a property, he might be looking at
0:47.0	the same property for a different purpose, right?
0:49.1	So I can maybe even pay a bit more for it because it fits what I'm doing better.
0:54.9	And that gives you a different advantage to get to the closing pay when we get more deals.
1:05.4	What's going on everyone?
1:06.4	It's Brandon Turner, host of the biggerpockets podcast here with my co-host.
1:10.0	Once again, Mr. David, second to the last time together, Greene.
1:14.6	What's up, man?
1:15.6	How you doing?
1:17.6	That was a sad thing that you just said.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.