BPAP 64: Creating a Massive Passive Income with Self Storage with Mike Wagner
Brain Pick a Pro Podcast
English - June 13, 2019 03:26 - 35 minutes - 40.8 MB - ★★★★★ - 5 ratingsInvesting Business Careers realestate realestateinvesting business investing cashflow entrepreneurship finance marketing entrepreneur interview Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
On this week's show, Larry invited Mike Wagner of The Storage Rebellion. Mike bought his first house in February of 2007. Mike has systematically purchased twelve additional houses and one commercial apartment building along with two self storage facilities.
More importantly, he learned that life is far better when you master your money instead of unconsciously letting your money master you. Their mission is to lead others toward a life of freedom that comes with re-learning some important things about money, redefining what success looks like, and implementing a proven plan to help people achieve success.
In this episode, Mike shared different ways to do self storage, different ways to look at it, and different ways to structure the deals.
Topics:
Who Mike Wagner is
How he got into real estate
How he discovered self storage
Different ways to do real estate
What his business looks like now
On buying self storage facilities
On selling their property
New IRS regulation regarding opportunities
His criteria for self storage
Analyzing self storage by the numbers
His remote management structure
On having a fence and a gate
On funding the deal
Determining the geographic location you want to focus on
On finding deals
His advice to those who want to get into self storage
Quotes:
"The better questions you ask, the better answers you're going to get and the more successful you are." "If we don't define success for ourselves, we'll end up chasing somebody else's definition." "Our success as individuals will depend on how much we help other people succeed."