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The Real Estate Way to Wealth and Freedom - Jacob Ayers EPISODE 378, 26th April 2021
Self Storage Fundamentals with Scott Krone
00:00:00 00:47:06

Self Storage Fundamentals with Scott Krone

Scott Krone is a real estate investor, real estate coach, an expert in the self-storage asset class, Principal of an international award-winning Design + Build firm and at Coda Management Group Chicago, a company that purchases undervalued warehouse space and converts it into climate-controlled, Class-A, and REIT ready self-storage properties.  He has a background in architecture and enjoys creating and developing things. He had learned about real estate from his college instructor who owns a real estate development company where he began working until finally started his own real estate company!

 

KEY POINTS

  1. Self-storage benefits and value-add returns
  2. Why scott switched from multi-family to self-storage
  3. How to find and analyze self storage investments
  4. Types of buildings that are convertible to self-storage facilities
  5. Rules of thumb and metrics for analyzing self-storage deals

 

LIGHTNING QUESTIONS

1.   What was your biggest hurdle getting started in real estate investing, and how did you overcome it?

  • How to build credibility for himself and gain trust from people to buy what he was selling. Scott crafted his story around what success he had up to that point.

2.   Do you have a personal habit that contributes to your success?

  • Getting up early, spend quiet time with his wife and dog walking on the beach at 5:30 in the morning. Scott practices accountability in business and his personal life, always looking to improve and grow.

3.   Do you have an online resource that you find valuable?

4.   What book would you recommend to the listeners and why?

5.   If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?

  • Be patient and enjoy the process!

 

RESOURCES

Coda Management Group

Email: info@codamg.com and reference this podcast for a free 100+ page Sustainability Report on a self-storage property. 

Connect with Scott on LinkedIn

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