REI077: Masterclass on Self-Storage w/ Nick Huber

Robert Leonard talks with Nick Huber about self-storage as an asset class, how to find, finance, and run storage facilities, the requirements to be a successful entrepreneur, and much, much more. Nick is an entrepreneur and real estate investor, who started the Sweaty Startup in December of 2018 because he believes the Shark Tank and Tech Crunch culture is ruining the real spirit of low-risk entrepreneurship. He is also the host of the Sweaty Startup Podcast with a mission to help people do common things uncommonly well. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 04:56 - What self-storage is and why choose to invest in it. 05:31 - If self-storage is an asset class that is realistically doable for new investors. 07:13 - How financing works on a self-storage facility (i.e. typical down payment requirements, loan terms, etc.). 10:57 - How Nick found and funded his first deal property. 11: 44 - What to look for in a location when searching for a piece of land to build on.  12:58 - How important location is for self-storage.  14:45 - Who self-storage investing is right for and who is it NOT right for? 28:08 - What the costs are to acquire the land, do the construction, and run a storage facility.  25:15 - How to estimate what to charge for rent when it comes to self-storage revenue.  28:45 - What reserves to set aside for a self-storage facility and how to estimate those items in a deal analysis. 36:13 - What return metrics one should focus on and what a satisfactory number is for those metrics. 40:57 - How to perceive the competition in self-storage and what to do in order to win in a competitive asset class. 45:52 - Whether it’s best to focus on one thing or one strategy versus working on many things at once. 47:48 - What impact does growing a large social media following has on a business?  53:10 - What is required to be a successful entrepreneur if smarts isn’t a necessity? And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Get more FREE content from Robert. Nick Huber’s The Sweaty Startup Podcast. Ramit Sethi’s book I Will Teach You To Be Rich. Scott Trench’s book Set for Life. Pat Flynn’s book Will It Fly? All of Robert’s favorite books. SPONSORS Support our free podcast by supporting our sponsors: Range Rover Airbnb NetSuite Public Connect with Robert: Twitter | Instagram  Connect with Nick: Website | Twitter  Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm