Self Storage Investing Preparing For the Downturn of the Market with James Hawk
Successful businesses run on structured systems and consistent implementation. That’s what my good friend, James Hawk, will be sharing with us on today’s episode.
James has been investing in real estate since 2010 and has bought and sold over $90 million in residential and commercial real estate. He also owns and operates a successful real estate brokerage firm in Florida.
Listen to this episode to learn more about James and how he prepares for market shifts, standard operating procedures, and finally getting to work on the business instead of in it.
Key Talking Points of the Episode
[00:03] The Self-Storage Academy
[01:40] Who is James Hawk?
[02:52] How did James get started in real estate?
[03:49] What is James focused on today?
[04:49] The haunted house in St. Augustine
[06:23] James’ deal flow
[07:56] Pivoting into 2022
[09:45] James’ status in terms of capital
[11:00] Preparing for the downturn of the market
[12:55] Staffing situation
[14:43] The secret to being successful in real estate
[15:40] Standard operating procedures
[16:55] Having a quality assurance manager on the team
[19:25] Training and onboarding process
[20:30] What’s a quick-start training?
[21:57] What is James focused on today?
[23:35] Selling to bigger players
[24:50] Creating deals
[25:25] Higher exit points in the market
[27:09] Being more creative to get ahead of competition
[28:44] James’ words of wisdom for the storage nation
Quotables
“I would rather use this time to prepare for something that isn’t pending. We don’t have the crystal ball, but we know we’re beyond. It’s inevitable, it is coming, and we can get better deals, potentially, than what they are now.”
“When bad times come about in the marketplace and the economy, people downsize and businesses downsize. Self-storage benefits from that.”
“We’re really just making sure that our structure is tight and our processes are efficient so when this happens, we’re gonna be set up to capitalize in a big way.”
“We’re in an ever-changing market, it’s very fast-paced. Things are always changing and we gotta stay on top of them.”
Links
Live Event: The Self-Storage Developer’s Academy (November 4th-6th, 2021)
https://selfstorageinvesting.com/live-events/
Podcast: Self Storage Investing Podcast
https://selfstorageinvesting.com/our-podcasts/
Instagram: James Hawk
https://www.instagram.com/jamesthehawk/
Facebook: James Hawk
https://www.facebook.com/jamesthehawk