A lot of people make a lot of money by investing in self storage. How do you get started in it and collect mailbox money to put yourself into a different asset class and create retirement plans or a financial future that you’ve always wanted?

Today, Clint Coons of Anderson Business Advisors talks to Ryan Gibson, CIO of Spartan Investment Group, which has a half-billion under management and more than 300 million square feet of self storage.

Highlights/Topics:

What attracted Ryan to self storage? 3 Es: Easy to own, easy to evict, easy to maintain

Why did Ryan start Spartan? Less involvement and fewer restrictions from government

Is self storage insulated from the economy? Self storage tends to be recession resistant

How did Ryan find and acquire his first deal? Off-market by sending letters to owners

What due diligence did Ryan do? Learn about the industry from top operators

Why did Ryan go the syndication route? To bring the opportunity to his investors

What are the demographics for opportunities? Check demand, occupancy, underwriting

Are there operators that handle the management of units? Yes, small and regional ones

Is there a minimum size for evaluating units? Depends on price thresholds, expectations

What should investors avoid? Flood zones, smaller properties, and overpriced facilities

Is it worth it to build from the ground up? Yes, but the stakes are much higher

What are the rents for self-storage units? $15 a square foot or higher per year

Resources

Spartan Investment Group

https://spartan-investors.com/

Bob Copper - Self Storage 101

https://selfstorage101.com/

Jay Graham - Self Storage Advisor

https://www.storageadvisors.com/brokerage

Inside Self Storage (ISS)

https://www.insideselfstorage.com/

Inside Self Storage Store

https://shop.insideselfstorage.com/

Clint Coons

https://andersonadvisors.com/clint-coons/

Clint Coons on YouTube

https://www.youtube.com/c/RealEstateAssetProtection

Anderson Advisors on YouTube

https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ