Transitioning from Multifamily to Self Storage with Corinn Altomare
Corinn Altomare – Owner of Hearthfire Holdings talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Corinn Altomare is a classically trained musician turned real estate investor. Along with her husband, they have been investing in real estate for nearly a decade starting with multifamily but made the strategic decision to pivot into self-storage and other “affordable lifestyle and leisure” assets like RV and campground properties.
Key Lessons Learned: In real estate, there is always an individual situation with a property that could make it a good deal, independent of what the larger market is doing.
How did they acquire their knowledge or what knowledge did they need to acquire? They learned mostly by doing. There is only so much you can learn from books and podcasts, eventually, you need to get out there and start doing it, and it’s there that you will learn the most.
How much money did it take to get started? About $25,000
How much time does it take now? It’s mostly a full-time job while they are in acquisition mode.
Could they do this strategy from anywhere in the world? Yes, she is setting up her self storage business such that she could pretty much run it from anywhere that she has access to the internet.
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