The Transition from Multifamily to Over 2.2M SqFt of Self Storage - with Scott Meyers | TLS122

Scott Meyers and his affiliated companies focus on the acquisition, development, and syndicating of self-storage facilities nationwide.  He currently owns and operates over 2.2 million square feet and over 13,000 units nationwide.  His education organization, SelfStorageInvesting.com, provides courses, tools, live events, and mentoring to help others launch their own self-storage business to enjoy a lifestyle as his saying goes, “free from tenants, toilets, and trash!”.  His various companies are also very mission-focused and funded the construction of 12 houses in Mexico and the Dominican Republic by taking his staff, partners, and other associates on their all-expense-paid short-term mission trips.

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WE DISCUSS:

• How he started in real estate and eventually in the self-storage business.
• When and how he transitioned to pursue real estate full-time.
• The effect of recession on their business.
• The challenges faced by his multifamily and single-family businesses during the tech bubble time.
• What his current focus is.
• His insights for the future of the self-storage business.
• What someone needs to have if they want to make a shift in their real estate business.
• The challenge is in matching their deals with the number of investors.
• His biggest mistake.
• His biggest win.
• His best advice for someone just starting.

KEY QUOTE:
“When people downsize, when businesses downsize, they need storage. We’re in the trauma and transition business.”

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