Inspired Or Acquired
Baird Kleinsmith - Building a +$28M Storage Portfolio & LatAm Staffing Firm
Sep 5, 2024
Baird Kleinsmith is a savvy entrepreneur who built a self-storage portfolio worth over $28M and founded HireLATAM, an offshore staffing firm. He shares the journey from corporate life to successful investments, revealing critical financial strategies and his experiences with challenging property acquisitions. Baird discusses effective hiring practices in Latin America, team dynamics, and the balance between scaling his business and personal satisfaction. His insights on turning around underperforming properties are both practical and inspiring.
44:16
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Quick takeaways
- Baird Kleinsmith transformed a struggling self-storage portfolio into a $28M asset by applying calculated risk and operational improvements.
- He founded Hire LATAM to connect U.S. companies with skilled Latin American talent, aiming to optimize hiring processes and support local workers.
Deep dives
Rapid Growth in Self-Storage Acquisition
The entrepreneur shares his journey into the self-storage industry, starting with a decision to shift away from a corporate career. He initially struggled to find suitable businesses until he was inspired by a podcast discussing the acquisition of mom-and-pop storage facilities. This led him to make his first purchase in February 2021, ultimately acquiring a total of ten properties, including a significant $12 million facility in October 2023. Notably, he turned around this troubled property, increasing its revenue and occupancy through operational improvements and effective management strategies.
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