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.
Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/
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
Connect with Jay Bowman:
- Website: https://www.gobeyondstorage.com/
- Facebook: https://www.facebook.com/jaybowmanREI
- Twitter: https://twitter.com/jaybowman
Connect with Dave Dubeau:
- Podcast: http://www.propertyprofitspodcast.com/
- Website: https://davedubeau.com/home
- Investor Attraction Workshop: http://www.investorattractionworkshop.com/
- Facebook: https://www.facebook.com/thedavedubeau
- LinkedIn: http://linkedin.com/in/davedubeau