Self Storage starting thoughts

[Mike Carr]

How did you get started? What did your first deal look like? Knowing what you know now, what would you do first if you had to start all over from the beginning?

[Scott Meyers]

Hey Mike, 

How I started - out of frustration with 80 houses and 400 apartments and up to my eyeballs with tenants and toilets, and almost zero cash flow... 

Bought my first property with a partner, each of us signing the note, and putting up 50% of the down payment.   I will NEVER do that Again.   All my partnerships now are structured with one person (ME) as the General partner or Managing Partner and any/all other partners are limited partners.  

Over 6,000 units and 30+ Self Storage Facilities under my belt - what would I do first if I had to start all over from the beginning?    Remove any other distractions to focus on Self-Storage, and quickly learn the craft of raising private equity to syndicate more and bigger deals to grow my holdings much faster and safer.  

Cheers, 

Scott Meyers