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Self Storage Investing for Beginners: What You Need to Know
Manage episode 410144522 series 3554728
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In this conversation, Patrick interviews Powell Chee, a commercial real estate investor who transitioned from multifamily to self-storage properties. Powell shares his journey and insights into the differences between operating multifamily apartment buildings and self-storage facilities and why he ultimately decided to invest primarily in self-storage units. Throughout the conversation, Powell explains how to invest in self storage facilities for beginners and discusses everything from the various types of self-storage properties to the importance of market analysis and demand assessment when looking for new self-storage properties. Powell even goes as far as explaining his value-add strategy for increasing occupancy and rates in self-storage facilities. Overall, the conversation provides valuable insights for those interested in self-storage investing. By listening, you'll learn:
- How Powell transitioned from residential real estate investing to multifamily to self-storage investing.
- The different types of self storage facilities.
- How to analyze self-storage business and its surrounding market.
- The differences between operating multifamily apartment buildings and self-storage facilities.
- The most common self-storage operating expenses.
- Key value-add strategies for self storage investing.
- And much more
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