RG 294 - Factors You Need to Consider Before Investing in Self-Storage – w/ Paul Moore

Join me in welcoming an old friend to the podcast, none other than the great Paul Moore! Paul has been on our show a couple of times before in the early days, and today, he is back to share even more helpful advice on real estate investing—particularly, in the self-storage industry. Paul is a seasoned real estate investor, the host of the How to Lose Money podcast, a regular contributor at BiggerPockets, and the founder and managing partner at Wellings Capital, a real estate private equity firm that helps investors grow their wealth through commercial real estate. With his extensive experience and proven expertise, Paul is one of the best people to when it comes to commercial real estate. We touch on quite a number of topics on the self-storage industry today. Specifically, we talk about how it has grown during the pandemic, the advantages and the drawbacks, and the factors you need to know before investing in this asset class (location, traffic, visibility, income, etc.). More than that, we explore the operational side of the industry, particularly in terms of marketing, cap rates, management, and everything in between. In short, we discuss what you need to know before investing in self-storage! If you’re thinking of starting your own self-storage business, look no further. From the factors you need to consider to the operational techniques that will help your business flourish, this episode is definitely one you wouldn’t want to miss. KEY TAKEAWAYS 1. Real estate is like a team sport; you cannot succeed on your own. 2. There has never been a better time to invest in the self-storage asset class. 3. In self-storage, Paul believes that cap rates don’t matter as much as one would think. 4. Contactless is the key to efficiency, especially in times of COVID-19. LINKS https://www.wellingscapital.com/ https://www.linkedin.com/in/paul-moore-3255924/ https://www.biggerpockets.com/blog/contributors/paulmoore https://www.amazon.com/Paul-Moore/e/B098ZWXXHD%3Fref=dbs_a_mng_rwt_scns_share Want to invest in my deals? - Click Here to Find out More! https://reedgoossens.com/investment-portfolio/