My name is Scott Meyers, CSSM©

I am also the owner and president of Alcatraz Storage® and several other self storage holding companies based in Indianapolis, Indiana and my company focuses solely on buying and selling Self Storage, Facilities, That’s it. At the present time, I own and operate Several Facilities throughout the Continental United States and growing. We routinely manage various construction projects at our existing facilities in addition to a few development projects from time to time. You see I’m a little different than most educators since I actually do what I teach, and I’m having a blast doing both. But it wasn't always this way, you see my Real estate Career began back in 1993 after purchasing a home study course by one of the top "Guru's" in the country on how to invest in real estate with no money down. And I, unlike so many other people who buy courses and then stick them on the shelf, actually watched those tapes and read the manual.

And Guess what........it worked! I bought my first piece of investment real estate for $30,000 with $0 money down!

Once I bought this home, I followed the steps in the home study course which showed me how to increase the value and force appreciation in my new investment. I rehabbed that first house myself and moved a tenant in at $550 per month, which gave me a $150/month in positive cash flow after the mortgage, insurance, and taxes. Shortly after that, I had the property re-appraised and then I refinanced it and pulled out $15,000 which I used to buy 2 more just like it. I was hooked!

Approximately 6 years and 20 rental houses later, I decided to quit my Job to transform my real estate hobby into a full time business. I was married now and my wife and I were expecting our first child. My first full year in the real estate business went very well and we had acquired several more homes and an apartment complex (pictured to the left). Acquired Apartment Complex

By now, I believed I had finally made it, I was living the dream! As a result, I decided to show my friends and family how successful I was by buying a new car, taking my family on expensive vacations, shopping for the latest clothes, and by basically buying and doing whatever I pleased. I continued to acquire more rental houses and apartment complexes, amassing over 400 rental units, and leveraging ourselves to the max along the way.

Then came the tragic events of September 11, which as many of you may remember, shook our country to the core. In the months afterward, The Fed dropped interest rates to record setting levels to boost the economy and our tenants began leaving in droves to take advantage of all the $0 Down-1st time home buyer programs that were being offered.

As a result, our vacancy rate had taken us below our break even point within a matter of months. In addition, our insurance rates had soared after the attacks, and a statewide property tax increase on all our properties a year later delivered the final blow. I continued to borrow from our credit lines and I maxed out both our business and personal credit cards each month in order to make our mortgage payments, pay our employees, keep the lights on, and provide for my family.

We slashed every possible expense in our business and personal budgets and began selling off our rental houses and apartments in an effort to keep from sinking. At home, my wife began selling everything in the house that wasn't nailed down on EBay® just to make ends meet, and it was working, but we were still holding our breath every 30 days in hopes the money wouldn't run out before the month did.

And Then the inevitable Happened. Our family was in the checkout line at Wal-mart one night when our credit card was declined (again). But this time, our debit card was also declined, and my wife and I didn't have enough cash between the two of us to pay for our groceries. The day I feared had finally come; We were broke! I was a real estate millionaire without a penny to my name. I felt as if I was going to pass out right there in the store. I pulled out another credit card.....declined, and another......declined, and another, until finally, the last card in my wallet was accepted. My wife and I collected the kids, our bag of groceries, and drove home without saying a word. I felt like the biggest failure in the world. I couldn't even provide for my family.

That night, I did the only 2 things left to do. First, I prayed. I prayed that I wouldn't have to file bankruptcy and for direction in my crumbling rental empire. The second thing I did was sit down and began to take a long hard look at where I had been, where I was, and where I wanted my life to go. The first place I knew I didn't want to go was to live with my mother-in-law should I be forced to file bankruptcy and lose everything I own, which seemed to be where I was headed!

So as I continued to think and work through this process over the next several days, I realized that my passion still lied with real estate, and that the main reason I was in this mess was because I was in the business of renting space to PEOPLE. The lost rent from evictions, move-outs in the middle of the night, along with huge collection expenses and extended periods of time with high vacancies during the home sales boom, had literally drained our bank accounts. I then added in the cost to repair, re-paint, and re-carpet each of our 400 units over the years as they became vacant, and that number virtually doubled!

Also, being a victim of 100% to 200% increases in property taxes, insurance, and utility costs over the past 5 years brought me to the conclusion that I didn't want to be in a position where I was slave to these 3 business partners any longer.

After that, I estimated the cost and hassle of hiring and firing several employees and added up the cost of their theft and falsifying payroll reports which ran into several thousand dollars more in losses and lost productivity over the years, and I became even more depressed at how bad things had become.

My dream of owning my own business and enjoying the benefits of being my own boss and the promise of a better life and the creation of wealth through real estate had become my nightmare in a matter of just a few short years.

So the conclusion was that my dream job was to build a low-risk, high cash flow real estate business without all the hassles of tenants, toilets, or employees. Great! Except that what I wanted, didn't exist. It was nothing but an Impossible, pie in the sky pipe dream ...... or was it?

Well, since you logged into SelfStorageInvesting.com, you've probably already figured out the answer to my prayer, so now I'll share with you the top 10 reasons why I decided to eventually sell all my houses and apartments, and ditch all my tenants and toilets to invest in self storage, and realize my dream.

 

People constantly ask me why I continue to teach. It's hard for them to understand why a multi-millionaire would take the time to work with those who aren't. My answer is simple, really. As a result of being spared from going bankrupt and having to move in with my mother in law, I now feel that I have an obligation to help others who desire to become real estate millionaires without the hassles of tenants, toilets, or employees by sharing the mistakes I have made, and teaching them the safe, time-tested strategies for locating, evaluating, acquiring, and managing Self Storage Facilities.

Truthfully, I'm just a simple, Mid-Western guy who has been blessed with a beautiful and supportive wife of 10 years, and 3 incredible children who continue to be my greatest cheerleaders in whatever new endeavor their Daddy decides to pursue. When I'm not out building and working on my Self Storage Empire, I enjoy traveling with my family, cycling, and all forms of Motorsports. I'm also extremely committed to the charitable work of my various Missions & Charities which I formed to help people around the world who simply don't have the opportunities available to them that we have in this fine country.

So, there you have it, the real me. Now browse my site and let's see how I can add your name to our Self Storage Millionaire Club...Quickly.

 
       
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