Ep 37: REI MBA: How to Underwrite Self Storage Investment Deals - with Bruce Stankavage
In this episode, Bruce Stankavage sits down with us for an interview and we cover a wide range of topics all related to Self Storage Investing.
💥Remember, this is your MBA. Have a notepad handy and get ready to take some 📝 notes!
Below are few topics that we covered during the interview:
✅ What skills he learned working for the McDonald's Corporation with with site identification, were transferrable to self storage investing.
✅ What are the common mistakes new self storage investors make?
✅ How technology is impacting self storage.
✅ Underwriting deals and what to focus on.
✅ Debt financing options for self storage.
✅ Bruce's next step suggestions. These are actionable steps that you can do today!
Bruce began investing in the self-storage industry in 1999 co-founding North State Storage to own and manage self-storage assets. He acquired both operating facilities and also land where he developed ground up new construction. In 2013 his company sold 13 self-storage locations for approximately $55 million. Shortly after, Bruce co-founded another company called Outbox Self Storage to own, manage and develop self-storage facilities.
Prior to entering the self-storage space, Bruce was an Area Real Estate manager for McDonald’s Corporation. He performed market analysis, financial underwriting and site acquisition duties for restaurant expansion in North and South Carolina. Bruce began his real estate career in 1993 as a commercial broker in the Raleigh-Durham area. Over the course of his career, he has completed over $250 million worth of real estate transactions.
You can reach Bruce my phone or email. His phone # is: (843) 331-2339 and his email is: bstankavage@me.com.
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