Mike Wagner is a self-storage real estate expert and has transformed his life through deliberate and purposeful action. As a Lifeonaire member, Mike shares why he decided that it was better to take a loss on his single-family rental portfolio in order to transition into a more stress-free self-storage portfolio. Mike has been in real estate since 2007 and purchased his first self-storage in 2011. He shares some of his storage numbers and where you can find some of these lucrative deals.
Key Takeaways:
Mentioned in This Episode:
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Learn more about Investing in Self Storage: Thestoragerebellion.com
Refine your lifestyle: Lifeonaire.com
Tweetables:
“Practicality is often just a disguise for fear and I didn’t want to stay in the realm I had lived in for the first 30 years of my life. I wanted to forge my own paths and take the risk.”
“We were in the subsidized housing arena, so collections were a big hassle and the expenses were hard to control. We were spending half of every dollar that we collected on operating expenses.”
“In storage, our income-to-expense ratio is 30 to 33 cents on the dollar. There’s a margin there.”
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