Ep #246: Building Massive Wealth Through "Value-Add" Self Storage Investments -- with Kris Benson
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.9 • 675 Ratings
🗓️ 10 September 2019
⏱️ 47 minutes
🧾️ Download transcript
Summary
In this episode of the Real Estate Investing for Cash Flow podcast, Kevin talks to real estate and self-storage expert, Kris Benson. Kris is a managing principle at Reliant Investments, a subsidiary of Reliant Real Estate Management, a top 30 operator in the self-storage space. Kris oversees investor relations and equity contributions for Reliant’s portfolio expansions.
In this podcast, Kris shares his inspiring decision to leave his job and pursue business in real estate. He explains how and he got into self-storage real estate and talks about advantages of getting into this asset class. Kris also talks about his involvement with Reliant real estate management and explains how and why he stays with the company.
Kevin and Kris dive further into self storage real estate and discuss the current market in comparison to other asset classes. Kris shares some perspective on the business and talks about value-adds, supply and demand, the risks, opportunities and other things to be considered when acquiring space for development. Kris also tackles marketability and pricing in this highly competitive and dynamic market.
QUOTES:
“I’m a big believer that everything in the market that’s going to happen has happened in the past and so for us, it was a function looking at what happened in the last recession and understanding how the asset class was affected.”
“My role is managing and kind of institutionalizing he equity arm of our business so that as we’re growing our portfolio, we have access to equity along the way.”
“At some point, you have to jump in, even if you’re uncomfortable, that’s where you’re going to do the most learning.”
“Our sweet spot really is not too similar than multifamily where you’re trying to find kind of that C property in a B+ or A area.”
“Our pricing definitely changes depending on what we’re seeing because when a facility opens up, most of the time they’re going to drop the rates to get you in the door, and then slowly burn off those discounts and concessions as they go.”
HIGHLIGHTS:
6:07 Kris shares his background and perspective on deals
9:58 How Kris got into the self storage asset class
15:26 Kris’s involvement with Reliant Investing
21:56 Kevin and Kris talk about self-storage space
34:18 Retrofit projects
39:40 Self-storage pricing
43:57 Buying opportunities
Recommended Resources:
- Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
- Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
- Grab a free copy of our book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them click here
- https://www.reliant-mgmt.com
- www.reliantinvestments.com
- www.krisbenson.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 Bup 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. |
| 0:31.6 | Hey guys, Kevin Bup here, and I want to welcome you to another episode of the Real Estate |
| 0:35.4 | Investing for Cash Flow podcast, where missions to help you build and maintain massive amounts of cash flow through income-producing |
| 0:41.9 | real estate investments. Now, our guests for this week's show is Real Estate and Self-Storage |
| 0:46.3 | expert, Chris Benson. Now, Chris is a managing principle with Reliant Investments, a subsidiary |
| 0:52.3 | of Reliant Real Estate Management, which is a top 30 |
| 0:55.4 | operator in the self-storage space. |
| 0:57.8 | Now, Chris spends his days overseeing investor relations as well as equity contributions |
| 1:02.2 | slated for Reliance Portfolios Expansion. |
| 1:05.4 | Now, in today's show, Chris and I are going to hit on a variety of topics, ranging |
| 1:08.9 | from where we are in the current real estate cycle, |
| 1:12.0 | the pros and cons of raising capital via a deal-specific syndication versus a fund structure. |
| 1:17.4 | We're going to talk about vertically integrated management versus outsourcing. |
| 1:20.9 | We're going to talk about finding opportunities even in today's competitive environment. |
| 1:25.1 | And we're also going to chat about what value ad really means |
| 1:28.0 | in the self-storage space, guys, and much, much more. And so with that, I'm super excited to get |
| 1:32.5 | on to the show with Chris. But before we do, just have a few quick housekeeping items I like to |
| 1:36.3 | run through. First and foremost, I always like to share my one personal best and one professional best |
... |
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