In this episode, Wayne talks to Spencer Hilligoss. Spencer is an active syndicator, real estate investor, and co-founder of Madison Investing. He started his career building high-performance teams across the technology sector and, in 2021, was a member of the Forbes Real Estate Council. Madison Investing has over 6000 units and over $800M in total acquisitions in multifamily and storage units.
Today’s topics include:
- You have to take stock of your reality to find the deals you are looking for.
- You have to honestly know and vet your potential partners before you do a deal with them.
- Storage units are a recession resistance asset class.
- Traffic count and visibility to the road are significant components of a good self storage unit.
- Radius+ website is a great way to compare occupancy of storage units.
- Value can be added to storage units by cleaning up operational inefficiences and renovating the facility.
- Local resources are the best way to get an idea of what other self-storage units are going for in an area.
- Looking at real deals are one of the best ways to educate investors.
- Real Estate forms like Bigger Pockets have great hidden resources.
- When you invest in real estate, you have to take care of your tenants to create long term relationships with them.