Join Daniel Nickles and Chris Thompson with their guest Scott Krone, the Founder of CODA Management, as they talk about the overall viability of self-storage properties. In this episode, Scott compares self-storage properties to multifamily properties on low cost and predictability, a point that’s important for passive investors to note. For him, self-storages are dumbed down multifamily properties that are apartments without toilets and sinks. Find out what more Scott has to say about self-storage as you tune in with us in this episode.
In this episode you will learn:
- From real estate development to self-storage projects.
- What are the mechanics that determine a property’s potential when scouting?
- The effect of current events on the self-storage industry.
- Other passive investments that are as viable as self-storage properties.
- What makes self-storage viable and sustainable?
About Scott Krone:
Mr. Krone is a Chicago native whose career in architecture began in 1991 by pursuing his Masters of Architecture from the Illinois Institute of Technology. While obtaining his degree, he also worked as a Project Manager for Optima, Inc.
During his time at Optima, Krone’s responsibilities included such notable projects as the 400 unit Cormandel in Deerfield, IL, the 40 unit HedgeRow in Winnetka, IL, and the 51 unit Optima Center Wilmette in Wilmette, IL.
In 2012, Krone founded Coda Management Group – a firm that specializes in managing real estate assets. Since its inception, Coda has managed a wide range of real estate, including single and multifamily homes, retail, commercial warehouse, self-storage, and multi-use flex athletic spaces. Currently, the platform of investments is in excess of $54 million.
In 1998, Krone founded Coda, an award-winning Design + Build | Sustainability | Consulting firm. Since its inception, Coda has won numerous design/build awards, including the international Green GOOD Design Award in 2010, Best of Houzz 2014 and 2015, and Design Evanston Award.
Their work has been featured in notable publications as Dream Homes – Chicago, Midwest Luxury Homes, Crate & Barrel 2010 Best Catalogs, NBC TV Show Taste, and national ACE Hardware Commercials.
In addition, Krone has authored High-Performance Homes – Navigating the Green Road to Your Dream Home, a book for homeowners seeking to incorporate green technology into their homes.
Krone resides in Wilmette, IL, with his wife and three children.
Connect with Scott Krone on:
Connect with Two Smart Assets on:
Check out our free apartment syndication sample deal:
Don’t forget to grab our free passive investing guide for apartment syndications: