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Insider Strategies on Investing in Self-Storage with Drake Massa
Manage episode 373487070 series 3486025
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Self-storage facilities can provide lucrative passive income opportunities compared to other types of real estate investments. In this episode, Drake Massa, Director of Acquisitions at Nomad Capital, joins hosts Neil Henderson and Clint Harris to discuss self-storage investing.
Timestamps
00:00:30 - Drake provides background on his role at Nomad Capital
00:02:30 - Drake explains why self-storage is a good passive income investment
00:04:40 - Drake outlines the four main self-storage investment strategies
00:08:00 - Drake details the conversion strategy for self-storage investing
00:15:15 - Drake discusses projected returns and timelines for investors
00:21:40 - Drake explains the refinancing strategy in years 4-6
00:26:00 - Drake emphasizes the work required despite the passive income
00:30:50 - Drake walks through the deal funnel from start to finish
00:37:05 - Drake shares where he would invest $100k right now
Key Takeaways
- Self-storage has outperformed all other commercial real estate over the past 5 years and leads most industries in growth over the past 25+ years, even during recessions.
- The four main self-storage investment strategies are: 1) Buy existing facility and improve operations 2) Buy existing facility and expand it 3) Convert other buildings into storage facilities 4) Build new self-storage facilities from the ground up.
- Conversions provide the best risk-reward balance. Purchasing underutilized buildings for cheap and converting them into self-storage can generate huge returns.
- It takes significant expertise and effort to find, analyze, negotiate, and execute self-storage deals, despite the passive income for investors.
- Drake reviews 100+ deals per week, models 5%, negotiates on 1%, and closes nearly 100% once an offer is made. From contract to completion takes 6-12 months.
Resources & Social Media
LinkedIn: Drake Massa
Website: Nomad Capital
Email: drake@nomadcapital.us
Follow Us on Social Media
YouTube: Truly Passive Income
TikTok: @trulypassiveincome
Instagram: @truly_passive_income
Facebook: Truly Passive
Twitter: @trulypassive
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