How to Buy Your First Self Storage Facility (and Why You Should) | Scott Meyers

#512 Have you ever wondered if self storage could be your next big business move? In this episode hosted by Kirsten Tyrrel, we sit down with the master of the metal box empire himself — Scott Meyers! Known as the nation’s leading expert on self storage investing, Scott breaks down how he traded the chaos of traditional rentals for the simplicity and scale of storage facilities — and now teaches others to do the same. He shares exactly what makes self storage such a powerful investment vehicle, why it has the lowest loan default rate in commercial real estate, and how to evaluate and acquire your first facility. From startup costs and profitability benchmarks to tech-driven marketing strategies and scaling through syndication, Scott delivers a comprehensive 101 on building cash-flowing assets without the headaches of tenants and toilets! What we discuss with Scott: 00:00 Introduction to Self Storage 00:45 The Journey into Self Storage 01:33 Starting and Scaling in Self Storage 04:24 Evaluating and Acquiring Facilities 08:32 Managing and Growing Your Portfolio 20:08 Finding Opportunities in Real Estate 20:47 Scaling Your Business: From One to Five Facilities 24:03 Marketing Strategies for Self-Storage Units 29:59 The Importance of Education in Real Estate 31:31 Building a Community and Expanding Your Network Thank you, Scott! Check out Self Storage Investing at ⁠SelfStorageInvesting.com (https://selfstorageinvesting.com/)⁠. Follow Scott on ⁠Facebook (https://www.facebook.com/selfstorageinvesting)⁠, ⁠Instagram (https://www.instagram.com/self_storage_investing/)⁠, ⁠LinkedIn (https://www.linkedin.com/in/scottameyers/)⁠, ⁠Twitter (https://twitter.com/SelfStorageGuy)⁠, and ⁠YouTube (https://www.youtube.com/user/SelfStorageInvesting)⁠. To get access to our FREE Business Training course go to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠MillionaireUniversity.com/training (https://www.millionaireuniversity.com/training)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. And follow us on: Instagram (https://www.instagram.com/millionaire_university_mu/) Facebook (https://www.facebook.com/MillionaireUniversityMU/) Tik Tok (https://www.tiktok.com/@millionaireuniversity_mu?lang=en) Youtube (https://www.youtube.com/channel/UCyG31bPcrqhbjvGsuz-JaXw) Twitter (https://twitter.com/Millionaire_Uni) To get exclusive offers mentioned in this episode and to support the show, visit millionaireuniversity.com/sponsors (https://www.millionaireuniversity.com/sponsors) . Want to hear from more incredible entrepreneurs? Check out all of our interviews here (https://www.millionaireuniversity.com/podcast) ! #entrepreneurship #realestateinvesting #selfstorage #selfstorageinvesting