- August 11, 2023
- Thomas Tona
- Categories: Podcast
The traditional avenues of real estate investments have been the bread and butter for many investors for decades. However, a new wave of savvy investors is paving the way for an unconventional investment strategy – focusing on mismanaged or undervalued storage facilities. One such trailblazer is Ryan Auger, a young entrepreneur who has amassed a seven-figure net worth in less than a decade by following this unique approach.
New Age Entrepreneurship
The modern entrepreneur’s journey is often non-linear, fraught with challenges, and ultimately rewarding. This is particularly true for individuals like Ryan, who, at the young age of 27, chose to specialize in buying mismanaged or undervalued storage facilities. By acquiring these facilities and turning them around, Ryan has not only amassed a net worth of seven figures in a short span of time but also provided an inspiring roadmap for other aspiring investors.
The Importance of Mentorship and Becoming an Expert
One of the key elements in Ryan’s journey was finding mentors in the real estate field. Their expertise and guidance were invaluable in his understanding of the sector. Moreover, he understood the importance of becoming an expert himself. He dedicated time and effort to thoroughly researching the industry, attending masterminds, understanding financials, and familiarizing himself with market differentiators.
Investing in Self-Storage Opportunities
One of the most fascinating aspects of Ryan’s investment strategy is his focus on self-storage facilities. These properties often fly under the radar of traditional real estate investors, yet they hold immense potential. The key lies in identifying facilities that are underutilized or mismanaged and understanding why they are in such a state. Once identified, the next step involves devising a plan to increase rent and maximize long-term value.
The Power of Social Media
In today’s digital age, social media plays a significant role in promoting businesses and differentiating them from competitors. Whether you’re a law firm or a real estate investor, having a strong online presence can significantly boost your visibility and attract smart investors. Moreover, it’s not just about being present on social media platforms but also effectively utilizing them to stand out from the crowd.
Success in Business and Real Estate
Achieving success in any business requires dedication, hard work, and a well-thought-out strategy. In the realm of real estate, this involves taking the time to conduct in-depth research, getting specialist counsel, and becoming an expert in your chosen field. Moreover, it’s crucial to have a long-term vision and the ability to adapt quickly to market changes.
While the path of investing in mismanaged or undervalued storage facilities may not be the conventional route in real estate, it offers a fresh perspective and lucrative opportunities. As Ryan’s journey illustrates, with the right strategies, in-depth knowledge, and a long-term vision, this approach can lead to impressive financial success. Whether you’re a seasoned investor or a budding entrepreneur, exploring these unconventional investment strategies could potentially revolutionize your financial future.
If you want to learn more about Lead Counsel, check out https://tonalaw.com/podcast/lc018