Self storage is one of the most passive forms of real estate investing out there, but only if it’s run correctly. On this episode of the BiggerPockets Podcast, you’ll learn from CPA and real estate investor Michael Rogers about the process of finding, rehabbing, and cash flowing self storage units—and they systems that have allowed Michael to buy 350 units and partially quit his job.
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In This Episode We Cover:
- Michael’s thoughts on having a part time job while investing in real estate
- How he bought a duplex while still a student
- What you should know about loan to value
- How to find the right sub contractors
- How Michael got into self storage
- Tips for investors looking to start with self storage
- Why you should be aware of the “Declining Spiral“
- How he structures his system to get clients for storage rentals
- How auctions work when tenants don’t pay the rent
- What you should look out for in the self storage niche
- The software that Michael uses
- 3 lines of defense for self storage
- How to find tenants
- How he uses Search Engine Optimization to his benefit
- The numbers involved in his deals
- Why he’s an active BiggerPockets member
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Webinar
- BiggerPockets Calculator
- 50% Rule
- BiggerPockets Podcast
- Automating Your Investing, Long Distance Rehabs and Spec Building with J Scott
- Growing Your Real Estate Company Into a $30 Million Dollar Business with Brian Burke
- My Latest BRRRR is Rehabbed and Ready to Rent
- BiggerPockets Files
- Easy Storage Solutions
Books Mentioned in this Show
- The Millionaire Real Estate Investor by Gary Keller and Jay Papasan
- Every Landlord’s Legal Guide by Marcia Stewart and Janet Portman
- The Essays of Warren Buffett by Warren Buffett
- Brandon Turner’s Book: Investing With No or Low Money Down
- “When you are at that job and you’re doing that work, you got to give it your 100%.” (Tweet This!)
- “You always look at how much cash are you going to lay out and then what it’s going to bring back in time.” (Tweet This!)
- “Find out what the big guys are doing. You don’t have to reinvent the wheel.” (Tweet This!)