The 3 Qualities that Make Storage a Near Perfect Investment with Ben Lapidus
Ben Lapidus -- Director of Acquisitions for Spartan Investment Group, brings his skills in asset management and financial analysis to launch and grow Spartan’s portfolio business line. With over 2 dozen successful deals under his belt prior to Spartan, Ben is also the founder and host of the national Best Ever Real Estate Investing Conference and managing partner of Indigo Ownerships LLC.
Before Spartan, Ben started a multi-million dollar study abroad company and worked with several start-ups through IPO or acquisition. He graduated Rutgers University with dual degrees in Finance and Economics where he was the founder of the Rutgers Entrepreneurial Society.
Key Lessons Learned: Self-Storage is a supply and demand business. There are many things you can fix about a self-storage facility but if the demand is not there, you will not be successful. It’s also hyper-localized and that demand depends very much on the lifestyles and demographics of the population in the market.
How did they acquire their knowledge or what knowledge did they need to acquire? Learning to invest with other people’s money by starting small with friends and family.
How much money did it take to get started? He started with about $100,000 from the sale of his education company.
How much time does it take now? This is a full-time job.
Could they do this strategy from anywhere in the world? At this time, given his role at Spartan Investment Group, probably not.
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests.