Self Storage Investing

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Despite a high-paying job, our guest George Fitz thought that getting into real estate would be the best thing to do for his future. In this episode, we’ll be diving into what makes self-storage better than multifamily and the vital role of networks and connections in growing in this business.
WHAT TO LISTEN FOR
Why do highly-paid individuals get into real estate?
Disadvantages of operating your own multifamily business
Tips for ensuring you’re buying a good self-storage property
The importance of knowing people when finding deals
Advice for investors who are new to the self-storage space
RESOURCES/LINKS MENTIONED
Who Not How by Dan Sullivan | Paperback https://amzn.to/3lGWoDf & Audiobook https://amzn.to/3GiLop2
ABOUT GEORGE FITZ
George Fitz is one of our incredible mentors and is responsible for assisting a number of our clients in purchasing their very first self-storage facility, as well as growing and scaling an existing portfolio. Born and raised in the small mining town of Hazard, Kentucky, he went on to get a degree in film from Northwestern University. He later moved to California and began investing in beachfront condos, single-family, and multi-family rentals, and eventually in self-storage where he has experienced a great deal of success. But his greatest achievements are in giving back to his local community by contributing to the local theater, other groups that support domestic violence, the Shriners, and children's suffering and poverty. Eventually, he found an IT consulting business, which is truly his passion but credits self-storage for allowing him to create his dream company. And we are thankful that George takes the time to mentor our clients and for sharing the blueprint for making their dreams a reality with self-storage as the engine to make it all happen.
CONNECT WITH US
Website: https://www.selfstorageinvesting.com/
Facebook: https://www.facebook.com/selfstorageinvesting
Twitter: https://twitter.com/SelfStorageGuy
LinkedIn: https://www.linkedin.com/in/scottameyers/
Youtube: https://www.youtube.com/user/SelfStorageInvesting
Instagram: https://www.instagram.com/self_storage_investing/
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Today, our guest Kathryn East is back on the show to share common pitfalls new and existing owners make in their self-storage business. Get to learn the disadvantages of some storage facilities and how to resolve them. Listen in and acquire valuable tips from one of the experts!
WHAT TO LISTEN FOR
The common self-storage gate issues to avoid
Better ways to effectively communicate with your managers
Advice on handling self-storage customer delinquencies
A strategy for raising your storage facility’s rates and rents
Why it’s important to have good communication and proper meeting schedules
RESOURCE/LINK MENTIONED
If you want to join gatherings of elite self-storage investors, visit thestoragemastermind.com to apply for the mastermind.
ABOUT KATHRYN EAST
Kathryn East is a wonderful Mentor/Coach with the Self Storage Investing Team and owner of Sopapta, LLC, who helps new storage owners valuate and define facilities to fit their goals. Kathryn is also an Operations Specialist specific to self-storage with 13 years of experience in the industry from ground level to ownership. She is an experienced Executive Director with a demonstrated history of working in the executive office industry. She is skilled in Negotiation, Business Planning, Operations Management, Microsoft Word, and Coaching. Strong business development professional with a vast knowledge of the Storage Industry.

CONNECT WITH KATHRYN
LinkedIn: https://www.linkedin.com/in/kathryn-east-22859564/

CONNECT WITH US
Website: https://www.selfstorageinvesting.com/
Facebook: https://www.facebook.com/selfstorageinvesting
Twitter: https://twitter.com/SelfStorageGuy
LinkedIn: https://www.linkedin.com/in/scottameyers/
Youtube: https://www.youtube.com/user/SelfStorageInvesting
Instagram: https://www.instagram.com/self_storage_investing/
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Today, CEO of Hearthfire Holdings Sergio Altomare talks about the solid history of high returns on investment, reveals the secrets to scaling your business, and thriving in the real estate market using suitable systems and processes. Take advantage of this once-in-a-lifetime opportunity to expand your business right now!
WHAT TO LISTEN FOR
The importance of wisely investing in your company's growth
How does assessing business models result in effective exit strategies
Profitable business opportunities based on current market trends
Two things that can generate massive business returns
RESOURCES/LINKS MENTIONED
Who Not How | Paperback https://amzn.to/3w3r3AW and Kindle https://amzn.to/3L3S23w
The E-Myth Revisited
Traction | Paperback https://amzn.to/3yrzUh8 and Kindle https://amzn.to/3yxgp6X
ABOUT SERGIO ALTOMARE
Sergio Altomare is the CEO and co-founder of Hearthfire Holdings alongside his wife. Sergio began his career working for the U.S. Federal Reserve System and worked his way up the ladder in all facets of technology. He entered real estate as a side business in 2012 and, using his experience and IT skills, scaled Hearthfire Holdings through solid systems, processes, and data analytics. Hearthfire Holdings has built a portfolio of more than $50M in assets under management and syndicated over $12M in assets, returning more than $2M in profit and 25 percent IRR to investors.
CONNECT WITH SERGIO
Website: https://hfirecapital.com/
LinkedIn: https://www.linkedin.com/in/sergio-altomare-7823294/
CONNECT WITH US

Website: https://www.selfstorageinvesting.com/
Facebook: https://www.facebook.com/selfstorageinvesting
Twitter: https://twitter.com/SelfStorageGuy
LinkedIn: https://www.linkedin.com/in/scottameyers/
Youtube: https://www.youtube.com/user/SelfStorageInvesting
Instagram: https://www.instagram.com/self_storage_investing/
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What does it mean to scale or partner with people continuously growing on a more significant level? Live from the Inside Self-Storage (ISS) World Expo 2022 in Las Vegas, Herby Bowman joins us in our booth to briefly talk about Store Space’s journey and success stories. Scalability is the theme, and we got you covered.
WHAT TO LISTEN FOR
Non-traditional ways of structuring deals
Store Space’s value proposition in the market
The entrepreneurial side of self-storage
Next-level play, geography wise
The importance of delegation and focusing on one’s strengths

RESOURCES/LINKS MENTIONED
Chis Harris https://www.linkedin.com/in/harrisstorespace/
Rob Consalvo https://www.linkedin.com/in/rob-consalvo-16a7474/
iStorage https://www.istorage.com/

ABOUT HERBY BOWMAN
Herby has been successfully growing brands for decades. In the mid-’90s working with hospitality brands like Days Inn, Howard Johnson, Ramada, and more recently with Choice Hotels’ brands. He has had success in many areas. He has closed well over 100 hotel deals with brands like Comfort Inn & Suites, Days Inn, Sleep Inn, MainStay Suites, and Suburban Extended Stay Hotels and has helped these systems grow into the ubiquitous names they are today. June 2019 brought new challenges in the self-storage sector, promoting Public Storage's newly created Third Party Management Platform. In late 2021, he joined Store Space Self Storage to guide their growth and development efforts. Since graduating from the University of Tulsa in 1991, he has flourished in brand development and product promotion. Beginning his career at Sysco Foods, he quickly moved into hospitality product sales, working for Guest Supply. While at Guest Supply, he led the charge to build the amenity program for Guest House International. After a stint in Franchise Development with HFS (now Wyndham), the world of pharmaceuticals beckoned. He spent several years promoting brands for Johnson & Johnson, Bayer, and Roche. Before returning to Franchise Development, he earned the coveted “CMR,” Missing the art of the large deal, he then transitioned back into the realm of Hospitality Franchise Development. Working with Choice Hotels International since late in 2007, I earned six consecutive President’s Club Trophies and was awarded two prestigious “Deal of the Year” awards. Currently, he is Store Space Self Storage’s Vice President of Strategic Partnerships.

CONNECT WITH HERBY
Website: https://www.storespace.com/
LinkedIn: https://www.linkedin.com/in/herbebowmanjr/
Email: [email protected]
CONNECT WITH US

Website: https://www.selfstorageinvesting.com/
Facebook: https://www.facebook.com/selfstorageinvesting
Twitter: https://twitter.com/SelfStorageGuy
LinkedIn: https://www.linkedin.com/in/scottameyers/
Youtube: https://www.youtube.com/user/SelfStorageInvesting
Instagram: https://www.instagram.com/self_storage_investing/

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It was all about cold calls in the early days.
Rachel Parham of Noah's Ark Development remembers her dad making call after call to manage a portfolio of over 400 facilities.
Nothing wrong with good, honest, nose to the grindstone hard work. And it paid off. Rachel emphasizes the importance of due diligence, market studies, and experienced partnerships while discussing the challenges and opportunities in today's market.
WHAT TO LISTEN FOR:
05:14 - A Family Affair
15:37 - Strategic Site Selection
18:27 - Adapting to Market Demands
24:00 - The Power of Technology
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GUEST: RACHEL PARHAM | President Noah’s Ark Development
Website | Facebook | Learn Self Storage Videos | Blog | Invest in Noah’s Ark
CONNECT WITH US
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