How to Generate Passive Income with Self Storage

A lot of people make a lot of money by investing in self storage. How do you get started in it and collect mailbox money to put yourself into a different asset class and create retirement plans or a financial future that you’ve always wanted?

Today, Clint Coons of Anderson Business Advisors talks to Ryan Gibson, CIO of Spartan Investment Group, which has a half-billion under management and more than 300 million square feet of self storage.

Highlights/Topics:

• What attracted Ryan to self storage? 3 Es: Easy to own, easy to evict, easy to maintain
• Why did Ryan start Spartan? Less involvement and fewer restrictions from government
• Is self storage insulated from the economy? Self storage tends to be recession resistant
• How did Ryan find and acquire his first deal? Off-market by sending letters to owners
• What due diligence did Ryan do? Learn about the industry from top operators
• Why did Ryan go the syndication route? To bring the opportunity to his investors
• What are the demographics for opportunities? Check demand, occupancy, underwriting
• Are there operators that handle the management of units? Yes, small and regional ones
• Is there a minimum size for evaluating units? Depends on price thresholds, expectations
• What should investors avoid? Flood zones, smaller properties, and overpriced facilities
• Is it worth it to build from the ground up? Yes, but the stakes are much higher
• What are the rents for self-storage units? $15 a square foot or higher per year

Resources

Spartan Investment Group

https://spartan-investors.com/

Bob Copper - Self Storage 101

https://selfstorage101.com/

Jay Graham - Self Storage Advisor

https://www.storageadvisors.com/brokerage

Inside Self Storage (ISS)

https://www.insideselfstorage.com/

Inside Self Storage Store

https://shop.insideselfstorage.com/

Clint Coons

https://andersonadvisors.com/clint-coons/

Clint Coons on YouTube

https://www.youtube.com/c/RealEstateAssetProtection

Anderson Advisors on YouTube

https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ