Self-Storage Masterclass w/ Nick Huber (REI077)
Robert Leonard talks with Nick Huber about self-storage as an asset class, how to find, finance, and run storage facilities, the requirements to be a successful entrepreneur, and much, much more. Nick is an entrepreneur and real estate investor, who started the Sweaty Startup in December of 2018 because he believes the Shark Tank and Tech Crunch culture is ruining the real spirit of low-risk entrepreneurship. He is also the host of the Sweaty Startup Podcast with a mission to help people do common things uncommonly well.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
02:22 - What self-storage is and why choose to invest in it
03:29 - If self-storage is an asset class that is realistically doable for new investors
05:11 - How financing works on a self-storage facility (i.e. typical down payment requirements, interest rates etc.)
08:55 - How Nick found and funded his first deal property
10:55 - How important location is for self-storage and what to look for in a location when searching for a piece of land to build on
14:06 - What is an LOI
15:24 - What the costs are to acquire the land, do the construction, and run a storage facility
24:02 - What reserves to set aside for a self-storage facility and how to estimate those items in a deal analysis
28:51 - What return metrics one should focus on and what a satisfactory number is for those metrics
33:03 - How to perceive the competition in self-storage and what to do in order to win in a competitive asset class
37:14 - Whether it’s best to focus on one thing or one strategy versus working on many things at once
40:26 - What impact growing a large social media following has on a business
44:41 - How to deal with the haters
45:35 - Nick’s advice to the listeners
✔️ Subscribe to Real Estate 101 podcast show: https://open.spotify.com/show/7dnn22E...
🖊️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com/r...
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK:
₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: • ⚡️ Bitcoin Fundamentals 🔑
📚Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: • 💰 The Investor’s Podcast 🥇
🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: • 🏠 Real Estate 101 💵
💸Get introduced to the world of investing with our Millennial Investing podcast show: • 💸 Millennial Investing 🎯
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
FOLLOW US ON SOCIAL MEDIA📱:
💻 Facebook: / theinvestorspodcast
👔 Linkedin: / the-investor's-podcast
🐦Twitter: / tip_network
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
📥 Download Stig & Preston's 1-page checklist for finding great stock picks: https://www.theinvestorspodcast.com/f...
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
❗DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.