Self-storage is a booming asset class worth an estimated $48 billion and growing. Many investors are taking advantage of the rewards, but like any asset class, you can face challenges and risks.
Today’s guest shows us how to navigate and reduce the risks involved in self-storage investing.
Tom Dunkel is the Chief Investment Officer of Belrose Storage Group and has over 27 years of experience in real estate and investments.
He has specialized in discount real estate investments nationwide since 2006. Early in his career, he worked as a seasoned leader in corporate finance with over $1.2 billion in M&A and middle-market financing experience. He has proved himself to be a trusted decision-making partner for C-level executives.
He has currently focused his entrepreneurial energy and enthusiasm on building a self-storage investment business.
In this episode, Tom shares his experience with self-storage investing and how recent inflation has affected his self-storage business. He discusses the resistance self-storage has against recession and a one-of-a-kind checklist for investors to consider when weighing a self-storage opportunity.
HIGHLIGHTS FROM THE EPISODE
1. Tom’s Journey into self-storage investing [00:00] – [5:35]
2. Business planning strategy [5:35] – [8:55]
3. Tom’s self-storage investing experience [8:55] – [10:30]
4. Impact of inflation on his self-storage business [10:30] – [12:35]
5. Recession resistance of self-storage investing [12:35] – [15:00]
6. Top risks to pay attention to [15:00] – [18:50]
7. Single assets vs. fund model [18:50] – [23:00]
8. Company goals for 2023 [23:00] – [24:45]
9. Checklist to get started [24:45] – [27:55]
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