Mike's Big Breakthrough came when he was working as a physical therapist, investing rental houses/duplexes/fourplexes on the side. His initial goal was 100 units making $100/month each. After 4 years he had 30 units and adjusted his math to reflect for lower performance to require 150 units. Near the end of a vacation with his wife, he realized that in order to be his happiest he had to leave his normal life. In that moment, he decided that he was going to get out of his job no matter what it took.

Mike found self storage as his new investment plan and bought his first property 16 months after his realization on the beach on vacation. He quit his job the same day he bought that property (even though it was losing $2,000 per month).

For apartments, the Operating Expense ratio is typically around 50%. The Operating Expense ratio for self storage is closer to 30%.

Storage facilities default less often than other mortgage-backed asset classes

When he's evaluating a property, Mike asks 3 questions:

• Why does this property have high vacancy or other blatant problems?
• Is this something that I can fix?
• Is there another fatal flaw (supply/demand, location, outside factors)

You can't tell someone they need storage, you just have to be the first person they find when they look for storage

The key to success in storage is being available for customers when they need you

You need to define what you want to get out of any situation

Learn about storage by reading on Bigger Pockets, All Things Self Storage (Mike's blog on Bigger Pockets), The Self-Storage Almanac (industry stats - look for an old PDF), TheStorageRebellion.com (Mike's online presence)

Mike's hardest challenge was overcoming limiting beliefs about himself, what he could accomplish, and what was possible. Things are only impossible until they're not

Mike defaulted into doing the things everyone around him was doing. He later realized that he never sat down to define what he wanted out of life and what success meant to him

Mike and his wife sat down to describe their ideal life and they set out to pursue that vision

One vision-setting exercise: write the eulogy you would like your best friend to give at your funeral

Mike's daily habits include reading his goals, meditating, and exercise

www.TheStorageRebellion.com