Self-storage with OPM!
Today’s guest Ben Lapidus sits down and spills the beans on his strategies for buying self-storage units and running an investment fund with other people’s money.
Ben has some really great advice for those who want to get into self-storage, including how he began by getting 25 percent of other people’s deals, why he jumped from single family into commercial opportunities, and how he mitigates risk in the self-storage space. You also won’t want to miss his strategies regarding choosing a market, his criteria for buying a deal, and his recommendation for brand new self-storage investors (hint: it’s all about size).
You CAN’T miss his mind-blowing technique for negotiating seller financing, where he improves his terms by saving the sellers money on their taxes. Brilliant!
This episode is packed with content, bursting with energy, and full of practical advice for getting into commercial opportunities with other people’s money. We guarantee you will learn a TON.
Download today and buckle your seat belt!
Click here to listen on iTunes.
Listen to the Podcast Here
Watch the Podcast Here
Help Us Out!
Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!
This Show Sponsored By
Enjoy all the benefits of Real Estate Investing without all the headache! Rent to Retirement is your partner in achieving financial freedom & long term wealth! Retire on your terms & timeline by investing in passive income properties!
Learn more by visiting renttoretirement.com or call 307 421 4049
Almost none of us have the time to read everything we’d like to read. Yet we lose countless hours to activities that bring us little joy such as commuting, chores and staring at our phones. What if we could turn these little blocks of unallocated time into precious and rewarding moments for learning and reflection? Founded in 2012 by four friends, Blinkist now connects 6-million readers worldwide to the biggest ideas from bestselling nonfiction via 15-minute audio and text.
Blinkist has a special offer for YOU. It’s a FREE 7 day trial — just go to Blinkist.com/pockets
Second Mid-roll Round Sponsor
Check out SimpliSafe Security’s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn’t require a contract!
Go to SimpliSafe.com/pockets to enjoy their 60-day money back guarantee.
Fire Round Sponsor
Fundrise enables you to invest in high-quality, high-potential private market real estate projects. I’m talking anything from high rises in D.C. to multi-families in L.A. — institutional-quality stuff. And each project is carefully vetted and actively managed by Fundrise’s team of real estate pros.
Their high-tech, low-cost online platform lets you track the progress of every single project, and keep more of the money you make. Oh, and by the way, you don’t have to be accredited.
Visit Fundrise.com/biggerpockets to have your first 3 months of fees waived.
In This Episode We Cover:
- How Ben found real estate after finding success in other business ventures
- Starting off investing with partners and getting 25% of the deal with none of the risk or capital
- Why he jumped from SFR to apartments
- What he learned buying an awful property on his first deal
- How he put together his first syndication
- Why he invests in self-storage
- How he found opportunities while looking for something else
- How he focuses on his strengths and finds partners to handle his weaknesses
- How he finds deals in today’s market
- His criteria for what he needs to see in a market
- How he mitigates risk when buying self-storage
- Why he looks for “expansion potential”
- How he finances his deals
- The strategy he recommends for newer self-storage buyers
- His BRILLIANT tax-saving strategy he uses to save thousands of dollars on seller financing opportunities
- The one thing he thinks should be taught in school that isn’t
- How he recommends people improve their people skills and forming connections
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Webinar
- BiggerPockets Premium
- Best Ever Conference
- BiggerPockets Podcast 227: From Single Family Houses to $130,000,000 in Multifamily with Joe Fairless
- $13M in Equity from One Deal & Cash Flowing Despite Being Comatose with AJ Osborne
Books Mentioned in this Show
- Am I Being Too Subtle by Sam Zell
- Click: The Magic of Instant Connections by Ori Brafman & Rom Brafman
- Never Split The Difference by Chris Voss
- Traction by Gino Wickman
- “A lot of top of producers are impatient.” (Tweet This!)
- “Taxes are such a huge huge piece of your expenses.” (Tweet This!)
- “You can make a deal work that wouldn’t have worked for a difference in tax rate.” (Tweet This!)