Summary
Tom Dunkel, Chief Investment Officer at Belrose Storage Group, shares his journey from being a miserable landlord to building a successful self-storage business. He discusses his background in corporate America and how he transitioned into real estate after getting fired from his corporate job. Tom explains the process of acquiring self-storage facilities and the importance of finding value-add opportunities in growing markets. He also highlights the use of dynamic pricing and the shift towards attracting commercial storage customers. Tom emphasizes the strong demand for self-storage and the stability of the industry, making it an attractive investment option.
Takeaways
Self-storage is a growing industry with increasing demand, making it an attractive investment option.
Acquiring value-add self-storage facilities in growing markets can lead to higher returns.
Dynamic pricing allows for optimizing revenue by adjusting prices based on supply and demand.
The shift towards attracting commercial storage customers provides a more stable revenue stream.
Self-storage facilities have a low default rate, making them a safer investment compared to other real estate asset classes.
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