Self Storage Investing for Beginners: What You Need to Know

In this conversation, Patrick interviews Powell Chee, a commercial real estate investor who transitioned from multifamily to self-storage properties. Powell shares his journey and insights into the differences between operating multifamily apartment buildings and self-storage facilities and why he ultimately decided to invest primarily in self-storage units. Throughout the conversation, Powell explains how to invest in self storage facilities for beginners and discusses everything from the various types of self-storage properties to the importance of market analysis and demand assessment when looking for new self-storage properties. Powell even goes as far as explaining his value-add strategy for increasing occupancy and rates in self-storage facilities. Overall, the conversation provides valuable insights for those interested in self-storage investing. By listening, you'll learn:

• How Powell transitioned from residential real estate investing to multifamily to self-storage investing.
• The different types of self storage facilities.
• How to analyze self-storage business and its surrounding market.
• The differences between operating multifamily apartment buildings and self-storage facilities.
• The most common self-storage operating expenses.
• Key value-add strategies for self storage investing.
• And much more

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NOTE: All content is for educational, informational, and entertainment purposes only. Nothing we publish is financial advice, investment advice, legal advice, or tax advice. All investments carry inherent risk. You are solely responsible for all decisions you make. Do your own due diligence and always consult with licensed professionals before making and decisions.