Bodacious B-Class Self Storage with Jay Bowman

Are you looking for something to invest in where you do away with all the long-term commitment to tenants and the utilities involved in running and managing a business?

Well, you've come to the right place.

Jay Bowman lives in Kentucky, married with two kids. He is a former SFR rental purchaser, and rehabber turned self-storage investor.

In this episode, Jay shares how you can replace a day job's income with a few self-storage facilities. And depending on the lifestyle you want to achieve; you can always add up more.

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What you'll learn in just 14 minutes from today's episode:

Find an investment strategy that lets you operate with speed and ease.
Discover how this portfolio is a good source of steady cash flow without expensive maintenance.
Hear about how you can have a lien on an individual's stuff and have it auctioned in a matter of days, completely rent it out to someone else when there is payment default

Resources/Links:

Website: https://www.gobeyondstorage.com/

Topics Covered:

00:41 - How A, B, and C storage facilities differ from each other

02:07 - When and what made him venture into storage facilities

02:57 - Number of square footage they have with the four facilities they own

04:27 - The process of getting to one's storage facility unit and when do these facilities needed

06:19 - Benefits of switching to self-storage facilities

09:22 - What more is there to love about self-storage facilities

11:39 - The number of facilities to own to replace your day job income

13:11 - Where to find Jay

Key Takeaways:

"In a single family, you have evictions. If you're in major cities, we don't have eviction laws in self-storage; we have lien laws. So, the moment somebody does not pay, you can go by that state's lien law." - Jay Bowman

"We like to keep it simple. I think that we're going to see many people in the future start moving towards investments where simplicity rules. There's just a lot of cash, a lot of ease; it's a very in and out type of business. While residential is not that way." - Jay Bowman

"What used to be digging through a very small pile of coal to find a diamond, nowadays, through a very large pile of coal is the value that has really just gone up." - Jay Bowman

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