Scott Krone is the Founder of CODA Management based in Chicago, IL. They partner with investors to find and convert warehouses and office buildings into climate-controlled, self-storage facilities. CODA has over 47 syndications and 400,000 sq. ft with 2,750 storage units under management.

Today, Scott shares where he finds opportunities, his criteria, and tips for working with local officials.

[00:01 – 07:10] Opening Segment

• I introduce and welcome our guest, Scott Krone
• Mistakes people make when buying distressed real estate properties or any type of real estate in general
• How to find deals below the market price
• Finding distressed real estate assets
• How to identify if a distressed asset is worth buying

[07:11 – 22:06] Self-Storage Facilities

• Scott talks about how they generate income through their self-storage facilities
• He shares how he discovered the opportunities in self-storage facilities
• Self-storage’s recession-resistant capabilities

[22:07 – 25:43] Generating Income vs. Building Wealth

• The misconceptions that real estate is a “get rich quick scheme”
• We talk about “generating income vs. building wealth”

[25:44 – 42:29] Self-Storage Facilities (Continued)

• What type of actual shell or type of building has performed better for you?
• Scott shares the process of converting assets into storages
• Why self-storages are essential

[42:30 – 51:33] Opportunity Zones

• Scott talks about opportunity zones
• Scott’s advice on opportunity zones
• Scott shares a story from when he visited Singapore

[51:34 – 56:55] Closing Segment

• Scott talks about his “why?”
• Scott’s final thoughts and words of wisdom for the listeners
• Get in touch with Scott. See the links below.

Tweetable Quotes:

“Everything is for sale at the right price.” – Scott Krone

“The best time to sell is when you don’t have to. You have the most leverage cause you can just walk away from the offer.” – Scott Krone

Get in touch with Scott through LinkedIn or their website https://www.codamg.com/

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