The Land Geek Podcast #61

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Hey, it's Mark Podolski, the Land Geek with your feet. Favorite niche real estate website, www.thelandgeek.com. and today, I hope you're ready because this guy is a rock star in a niche that is really near and dear to my heart. Only because of the issues that you don't have to deal with, like with myself. With land, you completely avoid the three T's in his niche. No tenants, no termites, no toilets. Let's add another one forties and no trash. So he is known as the leading expert. The nation's the world's leading expert for all things. That's right. Self storage, it's probably a niche you're not that familiar with. I'm not that familiar with a formerly near bankrupt landlord who invested in a small self storage facility and, and then saw the light, sold off all his assets only to invest in self storage. I am pleased and honored to introduce today on the Land Geek podcast from Indianapolis, a fellow Hoosier, Scott Myers. Scott, how are you?

Hey. I am fantastic, Mark. And that is probably the most exciting or excited announcement to a podcast. An introduction to me that I've ever had. So I appreciate that. I needed that right about now.

That's right, that's right. See, this is, this is the kind of intro you get after a grande Americano.

Starbucks. Love it. Yeah.

Pre Americano would have been Scott Meyer's self storage expert.

Understood. I am very well caffeinated as well, so I'm looking forward to this.

Great, great. All right, so Scott, tell me what's. What's going on? Why self storage? What's. How'd you get into this niche?

Oh my gosh. How much time do you have here? Do you want the 60 second version or the two hour version?

Let's go with five minute version.

Yeah, the five minute version. All right, so gosh, like, I guess many folks look to get into real estate for all the reasons we invest in real estate. You know, we have hopefully passive income when we get into it, but we can leverage money. In other words, borrow money from banks or other places to buy this investment. You can't do that with stocks, you can't do that with gold people. If you Rent out the real estate people pay down the basis, they pay off your mortgage for you and if it cash flows in the meantime, that's even better. But then once it's, they're all totally paid off, then yeah, you've got yourself a nice, you know, the goose that lays the golden egg. Plus it depreciates for tax purposes as well. So I mean, the formula for real estate is fantastic. But what I found is I got myself into the side of rental real estate and single family homes, like where most people start. And I was doing it on the side. I had a full time job, I was doing this as kind of a supplement to my retirement. Worked for a Fortune 500 telecom fir, started buying up rental houses after reading Rich Dad, Poor dad and found it was doing well in the beginning. I'd buy a house or two and rehab them, refinance, pull some cash out and go out and buy two or three more. And I had a couple hundred bucks, positive cash flow on each one of those properties. But what I found very quickly is that, you know, you have one vacancy in a single family house in a year and it wipes out pretty much all of the profit. By the time you pay to get them out, you know, they're behind, you know, 30 to 60 days in rent, they've trashed the place. You have to, you wait another 30 days or so before you advertise a market to try to find another tenant. They were doing about on average 13 to 15 hundred dollars worth of just, you know, damage, let alone wear and tear, just to repaint carpet and all, you know, turn those things around, right. And so I thought that, okay, well, I just need to be hard, work harder and smarter about this. And I was, in the beginning I was, I was actually making pretty decent money and went into the business as a full time investor and thought, well, I could probably make a difference if I ramp this up to 40 hours a week. Well, 40 hours turned into 60 hours and the cash flow still wasn't there. I thought, all right, well I can get smarter by investing in apartments and take advantage of the economies of scale. That didn't really work either. A wise man once said that the definition of schizophrenia is doing the same thing over and over and expecting a different result. And that's what I got, right? I just, I bought apartment complexes and started investing in those thinking that cash flow and appreciation would catch up. And all I did was buy more tenants and toilets. And so we were at the place, really the turning point, as you mentioned in the intro where, yeah, almost went bankrupt, almost had to give it all up and invested in a self storage facility. I was determined to stay in real estate, but I thought, how can they? How can I?

Yeah, but Scott, what made you think, think of. Okay, you know, the tenant thing's not working with single family homes, apartments. I mean, I'm familiar with sure, Guard storage and these public companies and it's phenomenal. But usually when you think of self storage, you think of the bigger national players, you don't think of individual investors. So what prompted you to think, okay, self storage could be a great niche, you know.

Well, interestingly enough, you know, obviously my wife was going through this at the same time our tenant and toilet woes and financial woes. And she said, why don't you look into self storage? And at the time, I guess like many other folks and even some of the students that I talked to, they think, okay, well that's on the opposite end from the trophy. Properties like golf courses and resorts and hotels and office buildings, let alone apartments, are single family homes. And so I just never looked into it until we were forced to make a change. So I did, I began doing some research and what I found, Mark, is that, yeah, unbeknownst to me and contrary to my beliefs and many others, yeah, this is. The industry is only owned the big guys, the REITs, the real estate investment trust, the public storage, the extra space, you store it storageusa. The big guys only own 9% of the entire industry. Of all the square footage of all the number of units and facilities out there in the country, they only own 9%, which means 90% of all these facilities nationwide are owned by mom and pop, just investors just exactly like me. Every bit is approachable, you know, using the same techniques and strategies I was using to buy my homes and single family or my homes and my small apartment complexes from. So I was pretty shocked to see not only the huge opportunity, but also the fact that it's easy enough for anybody, any investor to get into.

Scott, I'm blown away that it's that fragmented. I really thought you were going to say 90% is owned by the public companies and the REITs because they have so much capital to deploy, they've got to deploy the capital. So that is shocking to me. No kidding.

And one would think that as you drive down. Go ahead.

So I mean, is this mainly in. On the fringes of metro areas? Because in the metro areas it's like in Scottsdale, it just seems like it's all bigger players. Am I wrong?

Well, you Know, it's interesting. You'll see now, Mark, after our podcast, as you drive around, you're going to notice these. They'll be top of mind and you'll notice them everywhere. And so, yeah, the big guys, they own the big flashy one, you know, the multi story, they want to be, you know, next to McDonald's and across from Walmart.

Right.

And they're the very nice facilities, but the ones that are owned by the mom and pops, you know, we're behind the retail strip center. We're in a converted older Walmart or Kmart or other warehouse. We're in the, in the primary cities, but on the outskirts or on the areas where nobody else wants to develop, sometimes in older buildings that have been abandoned that we've repurposed and turned around and bought for pennies on the dollar and converted to storage for pennies on the dollar. We're along railroad lines, we're in secondary markets and tertiary markets, you name it. The thing is, Mark, 1 in 10 households uses one or more self storage units, says the Self Storage Association. So as long as there are people living somewhere, you will find a self storage facility, big or small, very nearby.

Oh, absolutely. I mean, do you ever watch Storage Wars?

Yes, I do.

Yeah. I mean it's unbelievable. It's, it's a, it's a thing.

Yeah.

I mean, and you can see on those, in that TV show, those storage companies are not hurting for space, right?

No, no. Here's the other thing to look at. You know, I've seen an awful lot of people, well, we have auctions at our facilities just like that. And like the show, the process is the same. Now a little bit of that is embellished. And hopefully everybody on your show, I think they're fairly intelligent, Mark, and educated enough to know that not all reality tv, all reality, wink, wink intent, neither is this. But what you see on the show, the process is exactly correct. And so when these folks come out there to buy these units, they go through that same process. But the one thing that I guess folks overlook is yeah, you can make a little bit of money. But look at half of the folks that break even or don't make any money. But you know who always ends up making the money and doing well?

The self storage facility.

We're laughing at the bank all the way home all the time. Because, you know, unlike, which is probably the main reason why I get into this business, Mark, is unlike in the single family and apartment world, when somebody moves out and I go to court through eviction, court And I sue them for, you know, a thousand thirteen, fifteen hundred dollars or whatever it is they owe me in repairs and back rent and damages.

Right.

I get virtually zero. I mean, almost every time. I had the best collection folks in the industry, and very, very rarely, you know, these folks had ran into financial woes and they left. That's, you know, can't get blood out of a turnip.

Sure.

But in. In storage, like you see on the shows, you know what? We have the right. We have the ability by law to lock their stuff up and they can't get at it. And if they still don't pay us, then we get to sell it off. And so in many cases, yeah, the owner, I recoup almost all, if not more than what was owed in back rent and late fees. And that is the game changer, my friend. That is a game changer. When you do not have the losses like we have in the tenant and toilet world.

That's fantastic.

How.

I mean, I would think it's a very low percentage that would want to lose their stuff where they would say, scott, I can't pay for this storage facility anymore. Keep my stuff. Is it.

It is.

Is it 10%? Is it 5%? Is it 20%?

You know, here's. It varies, obviously, by demographic and where our facilities are located in location. But, you know, we manage our facilities. I tell my managers we only want to have 5% of each month's accounts receivable outstanding beyond 30 days. In other words, at the end of the month, on day 30, 31, we only want to have 5% of our folks that still owe money to us. And we're usually underneath that. I mean, that's kind of the maximum allowable. Alarms start going off if it's any higher than that.

Sure.

By that point, the process, it takes 90 days for somebody to. For us to go through the process to then have an auction. And usually within that amount of time, they've come in and they've taken care of the bill, they've done a part, and we let them move out because we don't want to go to auction if we don't have to.

Right.

But either way, you know, we're guarded. It is a small percentage, and we do. We hold an auction about once every three or four months, just as we have a handful that need to be done and we need to free up some units. But we don't do it every 30 days or so because most of the time they just don't. In the instances in which they don't Pay. And typically what happens is that they've just, they've moved away, they just abandoned, they forgot about it. There's been, you know, a divorce, separation or what have you. And most of the times, contrary to what you would see on TV, there's not, you know, $10,000 snap on tool chests and you know, antique motorcycles and jukeboxes and Coke machines and things like that. You know, we've, we've got, you know, they owe us 150 bucks and we'll be lucky if we get a hundred dollars worth of, you know, money out of those boxes. But nevertheless, sometimes it's the same, sometimes it's, you know, it's a little bit more. But at the end of the day it's a great way to manage your, your accounts receivable. And our losses are very, very minimal, minimal rent loss in this industry, period. Right.

And speaking of management, you're not talking about like you would with, let's say a management company for managing single family homes or apartment buildings. You got one person there, right?

Yeah. You know the ratio. I think the last that I've seen, and I used to have my certified apartment manager designation when I was in that business. And they, they said the rule of thumb was usually one full time manager for every hundred tenants, whether you have a single family operation or a apartment complex. And in storage, it's one full time manager for every 400. Because we're not, well, think about it. We're not managing people, you know, that we don't have domestic issues, people parking on the lawn or their dog issues are fighting with each other or catching up on rent. I mean, we don't have anything to manage. Just people depositing their stuff there and we don't see them, you know, they send a check in or they pay online through their debit or credit card account and nine, 12, 15 months or 15 years later, they'll come get their stuff back out. That's it. There's just nothing or no one to manage.

It's fantastic. It's fantastic. So how difficult is it to find these deals? If, I mean, I, if you're saying that only 9% of the REITs and are investing self storage, that's a huge market. Tell me a little bit about your portfolio and what's going on with it.

Yeah, we've, you know, when I began I did a test, I was sending out mailers. That's still my favorite form. I mean you do the normal things. You segment your market, determine what your market is. You know, if it's two hours within a drive from my home or my office. You know, Google search and look at all the facilities that are in that location. Send some mailers out to the owner, say hey, if and when you're interested in selling your facility, I'm an investor and I'd be interested. Give me first crack at it. I'd like to take a look. I'm a serious buyer. I'm not a tech picker. However you want to tweak those letters.

Sure.

We contact the commercial brokers that either specialize in self storage or industrial or just depending upon our market. Just contact some, a couple, three commercial brokers and tell them what you're looking for and say, hey, when these folks come into the office and they want to sell their self storage facility, keep me in mind, let me know. I'd love to have first crack at it and have the pocket listing if you will. But either way, put me on your buyers list and then it's networking, letting everybody else know that you're in the business. It's a shotgun approach. It's like any other form of real estate. You just got to go out there, be in your market and talking to the folks that have access. We network with the folks within our self storage association within the states in which we operate in. And so by word of mouth, I'm in a little different place. Obviously I've been in the industry for a number of years and a national speaker and trainer. So we get a lot of deals that come across our desk.

Right.

And I also partner with my students on deals. And so my portfolio is scattered primarily central Indiana from our efforts over the years. We just closed a facility in New Jersey, looking at another one in Pennsylvania right now. Texas, Florida. I mean we'll go anywhere where there's a deal and then just kind of look at the market to see if it can back up and support that facility. You know, if we purchase it at the numbers that we've underwritten it at.

Sure, sure. Now how about financing? Is it difficult to get?

Not as difficult as the other asset classes. Self storage, because of the nature, mostly because of what we've talked about so far, there's very few losses and the industry is just growing at a tremendous pace. Self storage has the lowest loan default rate of all asset classes in commercial real estate, period.

I believe it. I think I read somewhere that, and you can correct me if I'm wrong, It's about a 30% ROI.

Yeah. Depending on how you slice it, you know, we return a little bit more than that. To our investors, but we're a little better at this, I think than most. But yeah, if you're looking at the real estate investment trust, the public companies and the in kind of the retail type facilities.

Yeah.

And that's nothing to sneeze at.

But no, that's amazing.

It's a pretty good return. And that's for all those reasons. We love the business. But yeah, the ROI is good, the losses are minimal. So therefore the loan default rates are low. So yeah, banks are, I don't want to say they're climbing over each other, but when we hold our live events, we have a number of lenders in the industry and the big brokers that want to come to our events and talk about what they can do because we put them in a room full of hungry self storage investors and they want access to them because those are the properties that they want to keep in their portfolio. They take a risk and they need to balance their portfolio with everything else that they're doing. But self storage is kind of like the anchor for the bank banker's portfolio. And it could just because it performs, it's very, very predictable. And, and my banker once told me, mark, he said I was buying one from a bank, it had gone back. And it just so happened that that investor who had it, he actually had another a few other forms of real estate that tanked and took the self storage facility into bankruptcy with it. Because I was asking, I said, hey, what happened here? This just doesn't occur very often. He said, yeah, well, you know, you get in trouble in these other asset classes and you got a good deal here. He said, it's a good thing you're in self storage. He said, a brain died in my brain. Dead moron can make a million dollars and sell storage. I said, well, okay, I'll take that as a compliment, I think. But at the end of the day, if you mind the store, it is a pretty good business model and the bankers love it as well, which makes it easier. Private lenders do too. Private lenders are bankers and they follow what the bankers are doing and they look at the stats they've dissected and they underwrite these deals along with me. I speak at a lot of self directed IRA and other private money events and I usually get a good big group of people around me at the end after I speak about that topic.

Yeah, I can imagine. I can imagine. So, all right, let me ask you this. Let's take a look at your last deal. How big was it? Where did you get it? And kind of walk us through an actual deal.

Sure. Yeah. This was a deal that two of our students found. We have a mentoring program and these two gentlemen were. They're the consummate students. It's a student that everybody likes to have, Mark. And that they actually did what we told them to do.

And so I love those types of students.

Yeah. And they're rare and few and far between. So these, these two partners, they're partnering in the real estate business. And they went out and found the self storage facility. It was an expired listing. So they tracked it down, went through the records, they didn't give up there. And found the owner of record, which was a bank. So they drove over to the bank and said, hey, we found this self storage facility at XYZ and we're interested in buying it. And so talk to the loan officer who was in charge of. He made the loan originally and so he was in charge of disposing of the property. Well, they had it listed at a ridiculous price at like $1.2 million. Okay. But the facility had been built for $3.9 million.

Let me ask you, when you're looking at it, are you looking at cap rate?

Yeah. Yep. We're primarily cap rate buyers for the most part. Yeah. But on some of these deals, we're really specializing in buying these distressed properties tied up in these bankruptcies. And that's what this one was. So these guys negotiated a deal with the banker, just a phenomenal deal, and they were going to finance it at the time. And so we were helping the students through the process. Well, long story short, they were both in the printing business, both living in New Jersey. And Sandy came through and wiped out their printing businesses, the companies they worked for, literally into the ocean, the buildings and all.

That's crazy.

It is crazy. So they came to me and said, hey, that bank was going to loan us the money to buy that facility from them. They were going to finance it, but now we have no jobs. So they came to me, we put together, contacted our private lenders and syndicated the deal. And they brought me in as a partner, or I took them out as a partner, however you want to take a look at it. And we formed a partnership and then along with our private lenders and closed on the deal. And now we're in the process of leasing it back up and putting our marketing plan in place, rebranding it, and things are trudging along.

That's fantastic. So how big a facility was it?

Yeah, this was. You could call it a bite size. Deal. It's a 39,000 square feet, 230 units. The value when we're done with it, when it's stabilized, will be somewhere in the two million dollar range.

That's, that's not bad. That's not bad. So Scott, are you primarily buy and hold or do you do a combination of buy and flip and buy and hold? I mean are you primarily in. Are you saying, look, this is a great cash flowing way of creating passive income or you can also generate short term gains by buying, flipping? What do you typically preach?

The answer is yes. I learned. I've been investing for over 20 years now and started out kind of following the Carlton Sheets model. You buy 15 homes and, or you buy 30 homes over the years and you sell 15 and pay the other 15 off and live off of those. So I was always in the buy and hold mode. But over the years I've been through a number of recessions and investment cycles now and we're paying attention much more closely. I follow the money. I look to see what the markets are doing, I look to see what global markets are doing. And we invest dependent upon election cycles. And so nothing is long term anymore. I mean of all the asset classes, nothing's easy. Let's face it. I'm not here to tell you and your folks that this is an easy business, but it's certainly easier than all the other forms of real estate that I've invested in. But at the end of the day there's work. It's not a set it and forget it type business. And so we mind our store, we mind the markets, and we mind what's going on within the financial markets and the economy and elections. And so our deals primarily now are syndicated. We like to pay cash. And so we use private lenders, private money for that instead of the banks. And so we're usually looking, our investors want no longer than a five year turnaround. So at that point our exit strategy will be either to sell and everybody cashes out or some of the partners, including myself, may buy out the other private investors. It really just depends. And it also depends on how much value we've created, if we have the ability to do so. So we're kind of all across the board but nothing over five years at this point. And quite honestly, if you look at over the years, the buy and hold strategy versus buy, create a ton of value and then sell and then recapitalize and go out and do it again, you know, as long as I've got air in my lungs and the ability to go out and do this, that that is the quicker way to more wealth than just the buy and hold. And graphs and charts will show that, improve that all day long.

Right, right. And I would think, you know, as far as a recession proof type model, wouldn't self storage fit in that asset class as opposed to apartment buildings or typical commercial real estate and single family homes? I mean, people always have to have somewhere to put their stuff. And if you're downsizing, you got to put your stuff somewhere.

Mm, right. Yeah, it is. You know, if you've heard me say once, you'll hear me say a dozen times, you know, that's the beauty of self storage because there's literally just, you know, endless reasons to love this industry and that, that is another one of them that you hit on is it's essentially recession proof and inflation proof. Because when times are good, what do we do in this country and elsewhere? Glad that recession's over. Let's go buy a bunch of stuff and celebrate. And that's what we do. We are the hyper consumers in the world economy. And so we have a lot of stuff. Our houses are double the size they used to be back in the 40s and 50s. We have two and a half, three car garages, we have full basements and we still don't have room for our stuff. So that's just what we do. And then when times are bad, there's no development, so there aren't any more new units coming online. And you couple that with the fact that yeah, businesses are downsizing, individuals and couples and families are downsizing, moving back home, moving in with each other, and there's still a lot of stuff that won't fit that they don't want to get rid of. And even though they gave up a $800, 1200, $1500 a month housing payment, you know, for 50, 100, 150 bucks, they can store their stuff that they don't want to get rid of for the time when they're able to go back into a larger home or purchase a home again or when business starts back up again. So it actually is one of the few businesses that we do better during the recession. The storage industry actually, occupancy wise, it goes up, it skyrockets because there's less development and we just have this huge absorption and therefore goes the law of supply and demand and revenues and margins go up as well. So during a recession, it's a good place, good asset class to be in. And it also is during inflation and even a hyperflationary mode.

I love it. I love it. So, all right. We're at that point in the podcast where I'd love to put you on the spot.

Sure.

And I want to know what is your tip of the week?

My tip of the week? Let's see. You know, go ahead. I'll tell you what, this is more of a tool or I guess a resource. It's one called Fancy Hands. Are you familiar with it?

I am familiar with Fancy Hands. I am. You know what's funny about it? I've never used it, but I've looked into it. So go ahead and tell us. What about Fancy Hands?

Well, I've been using virtual assistants for years, you know, after reading Tim Ferriss Four Hour Workweek. And I have virtual assistants doing things for me. And Fancy Hands is, I guess it's just another version of that. But a. A buddy of mine turned me on. He said, hey, you know, why don't you go get onto fancy hands? For 25 bucks a month, you could get random tasks done. I forget, I forget how many tasks I get done now. And just any type of request. Here's the rule of thumb that I have.

Mark, right.

A friend of mine told me this a long time ago. When do you turn something over to a va? And he said, my rule of thumb is If I spent 15 minutes trying to figure it out or get something done and it's not in my skill set, something I need to learn, or it's just draining and I'm getting frustrated. He said, then I will take the next 10 minutes and explain what I want to have done to a virtual assistant or my own virtual assistant and have them do it and offload it. And so that's, that's kind of the litmus test for me is if it's something that either my day is just so packed or I'm just looking at something thinking this is going to take me longer than that, or if I get into it and it's 15 minutes, I'll offload it. And so Fancy Hands is just.

What was the last thing you used Fancy Hands for? I'm just curious.

It was research on a property that I found. Believe it or not, we were on our way down to Florida and we stopped off at a. Stopped off at an exit, went to a CVS pharmacy. And I'm just a self storage junkie. And so I saw this facility nearby and it looked like it was older and distressed, a lot of doors up and vacant. So I grabbed the number, didn't Want to mess around with it at the time. And so when we got back from vacation, I couldn't find much information on it. Called the manager off that number and she wouldn't give me any seller's information. So I went up to Fancy Hands. I said give me the owner of record for this property here. And they went and found it, got the owner of record and I sent the mail, my mailers off to them. And I just did that like three days ago. And so we'll see if I get a response back from that. But just that to all kinds of personal things. I was looking to buy a new cruiser, a bike online.

Right.

I had them find that for me. You know the one, here's the parameters that I wanted. I mean just you name it. Personal to business, you know, I don't know. I haven't dug into them enough to know the. I haven't talked to them because that's not the way their service works. But the English, you know. Again, I've worked with a lot of EA students from Philippines and India and other places and the written responses I get leads me to believe that they're US based. But I don't know that for certain.

I think they are all US based, man.

Well, they all respond different person every time. It's not anybody dedicated. So I really don't know. But they're all very prompt and they go over and above. We even had somebody find us a place for dinner on vacation. Hey, go find the number one spot in this city to go out to eat and make us a reservation the next time. And done. And so we just go off on an adventure and it was just phenomenal.

My wife needs fancy hands.

Oh, everybody needs fancy hands.

I love it. I love it. All right, well great. Okay, so for my tip of the week is going to be somewhere along the same route as far as VA management and it's going to be online jobs.ph and Onlinejobs ph can competes with Odesk and Elands and all these virtual assistant sites, but it only focuses on the folks in the Philippines. And a bunch of my students are having great success with onlinejobs Ph so check it out. And not that there's anything against any of the other countries but for whatever reason the Philippines, these people speak really good English and they're very tech savvy and they have good Internet over there.

Yep, they do very well. Is a reliable compared to more reliable compared to other places. You're right. They are taught English but also their work, the work ethic and their desire to please is a little different than other places. And so all our VAs right now are from the Philippines. We don't have anybody unless it's just a one off project. They're all located there. So. Yeah, good choice.

Yeah, yeah. So, Scott, any last comments before we.

Yeah, I guess that I don't want to sound like a broken record, but you know, there's, there's so much information out there. You know, what should I do? Should I go buy rental houses? I've heard that's now hot, but the bubble's gonna burst, so maybe I shouldn't land. Sounds great, but I've heard these bad things about it. And you know, self storage sounds fantastic, but I bought all these other courses and all these other things. I don't have time to learn a new science. Well, you know what? Find what you're passionate about, something that you know the next day you're still excited about because it makes sense. And then go learn what you need to know enough to pull the trigger. And then pull the trigger. Take action. Most of what I do, and I imagine it's the same for you, Mark, I don't want to put words in your mouth, but people just have this underlying fear right now and they just won't go out and do anything and make it happen.

Yeah, yeah, yeah, absolutely. I mean, you've got to take action. And I say this to my students all the time. How many offers did you make today? How many offers did you make this week? If you're not making offers, you're not really doing, you're not really in the business.

No, it's a hobby. It's a hobby. And I've never bought a facility, Mark, that I didn't first place an offer on it.

Yeah, exactly. So it's just a numbers game. You make 100 offers, something's going to come up that's going to be great and you're going to be able to invest in it. Scott Myers, I really appreciate you coming on the podcast. You know what, we're gonna have a training webinar with Scott and I'm gonna link to the webinar so you can learn a lot more detail than what we've discussed today about how Scott actually does this. And it's gonna be really, really eye opening. So I'm really excited about it. And Scott, I really appreciate you taking the time to be on the webinar or not be on the webinar, be on the podcast. Are you going to come back?

Oh, absolutely, absolutely. Looking forward to it. I love to talk about this stuff. It's just a great biz.

Alright, great. So I will have a link for everyone to learn more. Get on the training webinar and do that now. In the meantime, if self storage isn't your thing and land is, go to www.thelandgeek.com and download the Passive Income Blueprint. Get the ebook how to Avoid the three Fatal Land Buying Mistakes. And of course get this always informative and engaging podcast delivered each week to your email inbox. And look, if you're looking for some wholesale property, give me some love. Go to www.frontierpropertiesusa.com we're always having new inventory in that on that site and so check it out. So Scott, thanks again and I want to thank all the listeners for taking time out of your busy days to learn more about investing in self storage as well as raw land. And we'll see everybody next time.

Thank you for listening to another episode of the Land Geek. Join us next time for more tips, secrets and information that will help you succeed. Stay connected with the Land Geek on Facebook Facebook. Com thelandkeek.