REI151: Multifamily to Self-Storage Conversions w/ Scott Krone

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Investing, Education, Business

4.6 • 592 Ratings

🗓️ 5 December 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:51 - His experience with Jesse Itzler in the Ultimate Entrepreneur 60-day Challenge. 04:07 - Why he decided to pivot from multi-family to converting distressed buildings into self-storage facilities. 17:15 - His thoughts on building new versus retrofitting distressed buildings. 18:22 - If self-storage is the “perfect business”. 28:14 - Ideas on mentorship. 35:15 - What he learned from his biggest setback. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Robert’s book The Everything Guide to House Hacking. Related Episode: Listen to REI077: Masterclass on Self-Storage with Nick Huber, or watch the video. Related Episode: Listen to REI108: Mastering Self-Storage and Commercial Real Estate with Paul Moore, or watch the video. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Robert: Website | Instagram | Twitter Connect with Scott: Website | LinkedIn Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.3	The ones that make me more money.
0:03.8	Which are what?
0:05.2	It depends on the market.
0:06.3	I wouldn't say that single story or multiple story make more money, but...
0:09.6	In this week's episode, I interviewed Scott Crone, who is converting distressed buildings
0:18.3	in the Midwest and repurposing them into self-storage facilities.
0:23.0	Scott is a Chicago native who began his real estate career in 1991 as an architect. He is the co-founder
0:29.4	of Coda Management Group and holds a masters of architecture from the Illinois Institute of Technology.
0:35.8	Coda manages a wide range of real estate including single and
0:39.0	multifamily homes, retail, commercial warehouses, self-storage, and multi-use flex athletic spaces,
0:46.6	which I think is pretty cool. Their platform of investments is currently in excess of $30 million.
0:53.4	I'm a fan myself of self-storage, and I really enjoyed learning from Scott.
0:58.2	It was great getting to know him, and I hope you guys all enjoy this episode as much as I did.
1:02.8	Now, without further delay, let's get into this week's episode with Scott Crone.
1:10.8	You're listening to Real Estate Investing by the Investors Podcast Network,
1:15.2	where your host, Robert Leonard, interview successful investors from various real estate
1:20.2	investing niches to help educate you on your real estate investing journey.
1:33.5	Hey everyone.
1:36.5	Welcome back to the Real Estate 101 podcast.
1:39.0	As always, I am your host, Robert Leonard.
1:41.6	And with me today, I have Scott Crone.
	...

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