051: How Mike Wagner Made $750K Flipping a Self Storage Facility (Part 1)
Over the past year, we’ve spent quite a bit of time trying to learn and understand the business of self-storage investing.
It’s one of those businesses that seems pretty simple at first glance (because there are no tenants living at the property, no toilets, the capital expenditures are pretty predictable and easy to forecast), but like any real business out there, when you start looking for deals, crunching the number and working the day-to-day, you’ll probably find that it’s a little more complex than meets the eye.
In my own personal quest to learn more about this business, I’ve done a lot of searching on Facebook and YouTube to find others who are doing this stuff and talking about it, and in the process, I came across this guy named Mike Wagner with a website, YouTube Channel and Facebook Group called the Storage Rebellion.
A few months ago, he posted a 3-minute video on YouTube talking about a recent deal he did where he made $750K (425K in cash and another $325K in homes that he took in trade). He originally bought a facility for $360,000, did another $300K of improvements, and then sold it off for $1,325,000.
And keep in mind, this DOESN’T include the $200K in cash flow he had collected over the course of four years while he owned it. I’ll link to the video in our show notes for this episode, by the way – you can find that at REtipster.com/51.
When I saw this video, I knew we had to get this guy on the podcast to learn more about how he did it and to get his insights on other aspects of the business… so listen in – I think you’ll enjoy this!
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Thanks again for joining me this week. Until next time!
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