Converting Buildings to Self-Storage Facilities with Scott Krone - Episode 527
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 27 September 2019
⏱️ 34 minutes
🧾️ Download transcript
Summary
Self-storage is one incredibly fascinating area within the real estate investing industry. Self-storage investing involves many of the staples of running a real estate business like taxes, acquisition, and monthly cash flow—but without having to worry about on-site tenants.
On this episode of Investing in Real Estate, I’m joined by Scott Krone of Coda Management Group. Scott is here to share his unique approach to self-storage investing, including building a simplistic business model and why demographic trends can create a need for self-storage. You’ll learn about converting buildings for self-storage, what it takes to get started, and much more!
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Book a call with our team: https://goo.gl/qr6iat Show notes: http://morrisinvest.com/episode527
Transcript
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| 0:00.0 | Welcome in everyone to the Investing in Real Estate Show. I'm your host Clayton Morris. |
| 0:09.3 | So good to have you here. If you are new to the show, this is the show where we teach you how to build financial |
| 0:14.8 | intelligence so you can build ultimately financial freedom. We love talking about buying |
| 0:20.5 | and hold real estate. That's how I've been able to achieve financial freedom. I left my day job and |
| 0:24.7 | morning television for so many years because of buy and hold real estate. But there are many |
| 0:28.9 | different avenues of buy and hold real estate, right? There's owning commercial properties, |
| 0:33.5 | single family residential, like I'd like to do. |
| 0:36.0 | There are self storage units, which is what we are going to talk about today. |
| 0:39.7 | It's always been a deep fascination of mine, |
| 0:42.3 | owning self storagestorage facilities and Scott |
| 0:44.4 | Krohn is an expert in that he's been doing it for a number of years he's done |
| 0:48.5 | over he's done over 47 syndication deals he's been in real estate for over 20 years so he knows the |
| 0:55.0 | thing or two about all of the different ups and downs in the marketplace. And Scott is |
| 0:59.6 | joining us today though to talk about self-storage units. Good to have you on the show, Scott. |
| 1:04.0 | Oh, thank you very much for having this. |
| 1:05.3 | I really appreciate the opportunity. |
| 1:07.0 | Absolutely, thanks for joining us. |
| 1:08.3 | So give our audience a little bit of background. |
| 1:10.4 | Just kind of give us a brief overview. |
| 1:12.2 | I mentioned 21 years in real estate, but kind of paint a picture for us. How did you get started and why did you eventually turn to self storage units? |
| 1:20.0 | I got into real estate and getting my master's degree in architecture and during the first semester that I was doing that I quickly realized that the ones that really control the whole process were the developers versus the architect. |
| 1:32.9 | And I was fortunate enough to have a professor |
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