106: How to Build and Profit from a Self-Storage Facility with Kevin She
By Sam Marks / Johnny FD
Kevin She is the owner of SC Storage, Hong Kong's leading low-cost self-storage provider with over 60 convenient locations in Hong Kong and Macau, and more than 18,000 self-storage units. He started his self-storage business 18 years ago and has consistently grown in locations and customers. When it comes to self-storage, he is the king! On this episode, Kevin reveals the step-by-step process of setting up a self-storage facility - from choosing the location to promoting the business. He explains the fundamentals of self-storage and why it is a perfect real estate investment scheme. This discussion teaches entrepreneurs some tips and strategies on how to build a million dollar business, self-storage or not. Where we are: Johnny - Chiang Mai Sam & Kevin - Iceland Links: Scstorage.com Sam's IG - Instagram.com/imsammarks Pro pics in Iceland, Contact Michelle Pederson @ Michellepedersonphoto.com Recommended: ArtofFX – start with just a $10,000 account (reduced from $25,000) Fundrise – start with only $1,000 into their REIT funds (non-accredited investors OK) RealtyShares – try it free Wealthfront – get your first $15,000 managed free Betterment – get up to 1 year managed free PeerStreet – get a 1% yield bump on your first loan Traveling Mailbox - get 5% off subscriptions with 'ILAB' promo code Time Stamps: 13:24 – Kevin She’s Background 13:54 – The Process of Setting up Self-storage 17:01 – The Building Formula 21:06 – The Renovation Process 23:20 – Real Estate Hack 25:20 – System Input & Customer Access 31:52 – Marketing Strategies to fill-up these Storages 36:53 – Cap Rates for Self-storage 38:34 – Self-storage business competitions 40:04 – Billing defaults & late fees 44:57 – Possible disruptions on self-storage businesses 47:01 – When storage owners become unreachable 51:56 – Countries with good self-storage business potential 59:33 – Recession & Regulation risks If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2017. All rights reserved. Read our disclaimer here.