The Tax Advantages of Self Storage Investing | Marc Goodin, Storage Authority
Self-storage isn’t just extra space—it’s one of the fastest-growing real estate opportunities with steady returns and tax advantages waiting for savvy investors.
Summary
Summary
In this episode, Heidi Henderson interviews Marc Goodin, CEO of Storage Authority Franchise, discussing the lucrative world of self-storage investing. Marc shares his journey from civil engineer to self-storage expert, highlighting the profitability and tax advantages of this asset class. The conversation covers the development process, common mistakes investors make, and the importance of understanding local market dynamics. Marc emphasizes the support provided through franchising and the potential for significant returns in the self-storage market. Listeners will gain insights into why self-storage is a compelling investment opportunity and how to navigate the complexities of the industry.
Contact info:
Email: Marc@storageauthority.com
Contact info:
Email: Marc@storageauthority.com
Phone: 860-830-6764
LinkedIn: www.linkedin.com/in/marcgoodinstorageauthority
Website: www.storageauthorityfranchise.com
Website: www.storageauthorityfranchise.com
Takeaways
- Self-storage is a profitable real estate business.
- The market for self-storage is growing steadily.
- Investors can benefit from tax advantages in self-storage.
- The development process is crucial for success in self-storage.
- Understanding local market dynamics is key to self-storage success.
- Self-storage has a low failure rate compared to other real estate investments.
- Franchising offers support and guidance for new investors.
- Building a self-storage facility can be a lucrative venture.
- Mistakes in self-storage investing can be costly and should be avoided.
- The auction process can help recover costs from defaulting tenants.
Chapters
00:00 Introduction to Self Storage and Marc's Journey
04:34 The Evolution of Self Storage Franchising
07:31 Market Insights and Location Strategies
10:35 Why Self Storage is a Profitable Investment
13:39 The Secret Sauce of Storage Authority
16:28 Navigating the Self Storage Market
19:29 Tax Advantages of Self Storage Investments
22:37 Future Trends in Self Storage
25:35 Common Mistakes in Self Storage Investments
28:40 Building vs. Buying Self Storage Facilities
34:22 Introduction to Coaching and Support
36:46 Building a Team for Success
40:18 Navigating the Construction Process
43:36 Franchise Structure and Financials
48:18 Understanding Auctions and Tenant Payments
51:59 Identifying the Ideal Candidate for Self-Storage Investment
01:01:54 Introduction to Self-Storage Investing
01:02:24 Marc's System for Fast-Tracking Success