Self Storage Ventures | Kevin

Quick reintroduction: I’m Kevin. Firefighter. 36. Wife, 3 kids (5 and under) I bought my first house at 19 during the worst housing crash in modern history. Ended up buying about 50 more over the next 5 years. Quit two corporate jobs before 25. Moved to Australia for a year to figure out what I actually wanted. Turns out it wasn’t to sit behind a desk and work a 9-5 or to manage a bunch of homes. Today I own 12 self-storage facilities across 4 states (acquiring more each year), run a hard money lending business, and coach people getting into storage. Things I believe that most people in real estate won’t say out loud: * High occupancy can be a trap * Most coaching programs are marketing funnels disguised as education * Real estate isn’t passive. Run from whoever tells you it is. * A $500K storage facility in a small town will outperform a $2M multifamily in a “hot market” 9 times out of 10 * Automation is overrated if your processes are broken - you’re just automating chaos faster * You don’t need to quit your W-2 to build real wealth I post real numbers, real mistakes, real lessons learned, and real operations. No fluff. What’s one question you have about self-storage or real estate investing? Drop it below or DM me - I’ll answer every one.

@sweatystartup NO WAY JOSE

Not using any capital letters is a mind virus ego contest. It has immaturity and california sweat pants all over it. Capitalize letters in text messages, emails and social posts or you look like a fool!

@thmoneycircle Let’s see it!

practice underwriting. would you guys like to see short video on how I am underwriting new project?

@ikehobbs 65%

@Storage_Venture LTV?

Funded a small loan through our hard money fund today. Existing free and clear asset (industrial) 225k loan 12.25% interest 2 points $900 doc fee 12 month term, with no prepay penalty after 6 months. They needed cash within 1 week. We got it done.

@StorageStache1 Love it!!

Been too long since I’ve given an update on the next Phase of construction at our Sandusky project: Brutal winter: pushed us back a bit but now pushing hard to stay on-schedule. -20 units - 23,760 sf. -10 units pre-sold. **Completion of this phase will make our investors whole and put the entire project in the green. The remaining 48 units that we build over the next few years will be all profit. -We have another 100k sf starting this summer in Columbia Station, OH and another 9 acre Industrial acquisition closing in a PRIME location in Akron, OH. -Early April closing scheduled for 80k sf vacant Industrial building. Tenant secured, lease will be 🤞signed before closing. -Summerville, SC project is 1-2 months away from land disturbance permit. 34 units - 18 units pre-sold 🔥 There is much more but we’ll save that for later. Let’s gooooo!

@BecomingCritter Statistically women cheat more than men

it's incredible that women don't cheat more often, it's like 10x easier for a woman to cheat than for a man

@bconcpa Absolutely. We keep a small fund working, around 5-8m at any given time. Combination of some of our funds and investor funds. Investors get a 10% return on working capital

@Storage_Venture Super helpful. My wife knows the counterparty really well. She is his CPA so she knows the credit risk well. Just happy to put some money out at a much higher rate than the 3.6% it is currently earning in a MMF.

@hq_storage Yessir.

@Storage_Venture Interest only?

@bconcpa Exactly - interest only, monthly or quarterly payments. Term anywhere from 6 months to 3 years. Built in extensions if need be. Always happy to chat through it if it’d be helpful

@Storage_Venture Great Erma for you. You typically do interest only, monthly payments, with balloon at maturity? Had one of these come up today for someone we know very well (personally and financially).

@Muffican_elon Will always take a look!

@Storage_Venture Heck ya, I actually sell these !

Quick reintroduction: I’m Kevin. Firefighter. 36. Wife, 3 kids (5 and under) I bought my first house at 19 during the worst housing crash in modern history. Ended up buying about 50 more over the next 5 years. Quit two corporate jobs before 25. Moved to Australia for a year to figure out what I actually wanted. Turns out it wasn’t to sit behind a desk and work a 9-5 or to manage a bunch of homes. Today I own 12 self-storage facilities across 4 states (acquiring more each year), run a hard money lending business, and coach people getting into storage. Things I believe that most people in real estate won’t say out loud: * High occupancy can be a trap * Most coaching programs are marketing funnels disguised as education * Real estate isn’t passive. Run from whoever tells you it is. * A $500K storage facility in a small town will outperform a $2M multifamily in a “hot market” 9 times out of 10 * Automation is overrated if your processes are broken - you’re just automating chaos faster * You don’t need to quit your W-2 to build real wealth I post real numbers, real mistakes, real lessons learned, and real operations. No fluff. What’s one question you have about self-storage or real estate investing? Drop it below or DM me - I’ll answer every one.

@REDevManager Yessir! We lend on most assets - primarily MHP, storage, residential, and industrial

@Storage_Venture I didn’t realize you did industrial too on the lending front!

@Muffican_elon Location agnostic but we have facilities in the southeast and great plains states

@Storage_Venture What states you play around in ? Oklahoma here !

@VadimStrizheus Clip

Comment “Clip” for 2 hours worth of clipping credits.

@ikehobbs Nice work man! Here if you need help on the funding side ;)

I wasnt really planning on buying any properties this spring. Expected to just work on stabilizing current properties and saving up for a fall/winter break in the market that I always see. Well with a small amount of passive marketing and a little bit of digging I've got 3 properties under contract that will beat most of my portfolio in cash return. I think next year I'm gonna schedule an advertising blitz for March. Nobody says it to me until late in the conversation but every single person I've met with pulled the trigger on reaching out to me because they got their tax bill in early March.

@supa2001 National average is 8 sq ft of storage per person. So in theory, if you are above that in your market (5 mile radius or so), then you're oversupplied. But every market is unique.

@Storage_Venture People in rural places have plenty of space in their yard? I'm in a town less than 8000. There are more than 5 storage facilities near me. Is this considered highly competitive?

Public Storage just agreed to buy National Storage Affiliates for $10.5 billion. Here’s what most people are missing: NSA wasn’t a big-city REIT. They were the secondary and tertiary market specialist. Smaller towns. Suburban locations. Public Storage - the largest storage company on the planet - just paid $10.5B to get into those markets. This is massive validation for small operators like us. We’ve been buying in towns under 30K population for years. Low competition. High demand. Facilities you can acquire for $300K-$1m that the REITs would never look at individually. But now PSA is telling the world that these markets have value. That means: * Street rates in secondary and tertiary markets will rise as institutional money pushes pricing up * Your small-town facility just became more valuable on a comp basis * There’s a growing exit path if you ever want to sell into a larger portfolio The best part? PSA still isn’t coming for your 80-unit facility in a town of 5,000. The economics don’t work at their scale. But they just proved the thesis that small-market storage is one of the best investments in real estate. If you’ve been on the fence about getting into storage - this is your signal. What’s your take on this deal?

@Storage_Venture Solid take!

@farmhazed It sure doesn't with today's interest rates!

@Storage_Venture Sshhh…till we are ready to sell! Looking at some now, don’t think a 6.4% cap belongs in a rural (stagnant) market. But I’m with you.

@NolanPeek3 2021 rents often higher than today’s rates haha We raise on 1/3rd of customers and let that dictate our decision on next third and let that dictate decision on last third If $17 TP is mandatory that’s a very large raise as it is

@Storage_Venture Buying a 95% occupied storage facility but half the tenants are paying 2021 rents For reference 116 Units $55 vs $120 market When you push rents, how many do you realistically lose? Do you phase increases or rip the band-aid? Also adding $17 tenant protection