Self-Storage and COVID with Kris Benson

Find out Kris’ reasons why self-storage facility is one of the best ways to start investing in real estate, know more about the problem self-storage help solve and why that helps it to perform quite well even amidst the pandemic, and learn about the compelling reasons for Kris’ shift from previous investment strategies to self-storage.

 

Resources/Links

• ReliantInvestments.com

Summary:

Kris Benson quit his “corporate job and elected “to find a way to stop trading my time for money and to let my money make money.” He launched his commercial real estate journey, appreciating the value of investing in tangible assets. Kris started investing in small residential units over 10 years ago and expanded to commercial multifamily properties before making the jump to self-storage. 

Partnering with Todd Allen, managing principal at Reliant Investments, Kris focuses his leadership and management skills on the commercial real estate company’s investment committee, which determines what self-storage properties to purchase while growing equity and creating passive income streams for investors. 

In this episode, Kris explains why the self-storage sector has performed well, even in this COVID time, compared to other asset classes. 

Topics Covered: 

00:54 – What is interesting about self-storage facility to invest in real estate 

03:19 – How self-storage started 

04:06 – The four D’s self-storage facility helps solve 

06:17 – What storage facility do they focus on 

08:25 – How do they plan to sell facilities that they added value on 

09:30 – What made him got hooked with self-storage  

12:29 – How will self-storage facility be affected if ever the economy turns worse 

14:02 – If someone defaults in paying rent, how long is the storage be up for auction 

Key Takeaways: 

“If you look at the historical performance of self-storage comparatively with multifamily, office, retail, and industrial, it has outperformed all of them in the last 25 years.” – Kris Benson 

“I’m a big believer that things that are going to happen have already happened, you just have to look in the past to find them.”  – Kris Benson 

“The problem that self-storage is essentially solving is giving you space and allowing you to organize. – Kris Benson

“Storage is like an operational business with a real estate play on the side.” – Kris Benson 

“From my perspective, I believe that storage is somewhat insulated because it’s a small percentage of your monthly income and you’re collateralized by your stuff. Most people don’t want to get rid of it.” – Kris Benson 

Connect with Kris Benson: 

• reliantInvestments.com  
• LinkedIn 
• Facebook 

Connect with Dave Dubeau: 

• Property Profits Podcast 
• www.davedubeau.com 
• www.investorattractiondemo.com 
• Facebook 
• LinkedIn 

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