Are you a seasoned residential investor but want to make the change to self-storage investing? In today’s episode, we invited Alex Quezada to speak with us about how to make this transition and avoid any mistakes.
Alex Quezada is a managing member of Vault Ventures, LLC., Holding Vault, LLC., and Quick Cash Offer, LLC. His team is dedicated to acquiring off-market, discounted investment properties in the Florida area. His team helps motivated cash buyers find the right property at the right price to add to their investment portfolio. Let’s find out what some of his top tips are for transitioning to self-storage.
Build Your Portfolio
Before you make the transition to self-storage, you need to focus on building your residential portfolio. Once you have a few residential properties under your belt, you can build sufficient income to purchase a storage facility or other commercial properties. You should use your first residential properties to gain experience and learn from your mistakes before starting self-storage investing.
Real estate investing is a business of connections. One of the most important tips when transitioning to self-storage is to make as many connections as possible with the right people. You should never stop learning and expanding your mind with new skills and people who can help you succeed in your business.
One of the best ways to meet like-minded people is to network by going to real estate investing events and meetups. If you are looking to invest in a new commercial property, you should get to know real estate agents who work with people in the area. We recommend getting involved in as many events as possible such as summits, speaking events, and social meetups. You never know when a person you meet might become useful to your next storage facility investment.
One factor that is critical to your success in self-storage is to maintain consistent and persistent marketing. You should utilize every marketing tool that you have at your disposal. If you continue to pursue a business venture with diligence and perseverance, you might be surprised at the outcome.
Marketing is how you get ahead of your competition. In this new day and age, digital marketing is the most important way you can get in front of the right people at the right time. You should be utilizing all of your social media platforms and your website to track down the right people to help you succeed. Marketing can help build your reputation, which will lead to a smoother transition to self-storage.
While residential real estate is a solid investment, many people are interested in moving into the commercial sector with bigger properties and bigger returns. In today’s episode, we discussed the most important tips an investor should follow when transitioning into self-storage. The first step should be to build your portfolio, which will provide you with the capital to buy commercial properties. You should also focus on making connections and marketing once you invest in your first self-storage facility.
For more information on how you can start investing in self-storage today, check out our comprehensive guide!