Realty411 Magazine Featuring Scott Meyers | Page 31
Others who have been seeing
great results from their real estate
ventures over the past decade, are
also now wisely questioning what’s
next. It seems like 90% plus of those
in real estate today from gurus to
property managers and retail
investors have only been in
since 2008. Let’s be honest. It
has almost been impossible
not to make money during
these years. You needed no
talent, and may not even the
ability to write good deals.
While some might deny or
minimize it, most forms of
real estate will dip again. That
requires a plan to sustain things
and a plan B to generate cash and
revenue. If you want to be a major
player through the next recession,
you might even need a new A game.
When You’re Blessed
with Much, You Give
Much & Want to Bring
Others with You
Those that know Scott Meyers
may admire him most for all of the
missions and charity work he does
and backs. He and his family
really appreciate how blessed
they’ve been with their adventures
in real estate. In turn giving back
is a big thing for them. Now they
are on a mission to help take as
many others along with them as
possible. That doesn’t just mean
achieving financial independence
and what many would consider a
success lifestyle, but more
importantly, to be able to get out
there and help others. Not just by
donating to good causes, but going
and volunteering too.
Today, this is mostly thanks to
what Bloomberg has called the best
real estate investment of the past
decade. One with ‘riskless returns’.
Scott’s Journey
While working in the telecom
industry, Scott Meyers discovered
house flipping. He took on his first
deal with creative financing, and
found his way in with an assumable
VA mortgage.
He kept doubling what he was
doing in real estate. He graduated
from the intensity of flipping houses
to the ‘passive income’ of multifamily
investing, and built a portfolio with
400 apartment units.
Yet, all of the headaches and
hassle of dealing with tenants was
still a drain. Regardless of all the
money that was coming in, he was
really tempted to quit.
Still, he knew the benefits of real
estate and how essential they are.
So, he started looking at other
strategies. What types of real estate
don’t mean a lot of hassle, time
and cost to get nonperforming
tenants out, and produce more real
passive income? Parking lots is
one, but they aren’t a great value
add play, and cars and parking is
really on its way out thanks to Uber
and new green initiatives.
That left one solid option.
The Cinderella of Real
Estate Investing
Scott landed on selfstorage.
The often neglected stepchild
of real estate, but which
actually delivers some pretty
magical and dazzling
advantages.
1 in 10 US households use
selfstorage. It is a part of
every community in America.
It has performed great in the
good times, and is only second
to performance to liquor in a
recession.
Think about it. How many people
are about to get forced to move in
the next crisis? Recent stats from
ATTOM Data, put the number of
homeowners with serious negative
equity (owing at least 125% of their
property value) at over 5.2M. It is
probably far higher than that now.
That’s just one form of distress in
the current housing market. Even if
we avoid a crisis, people will be glad
to take on more storage.
That doesn’t count the growing
demand in the storage space from
drop shippers and ecommerce
companies. Nor all the vehicle
owners who are moving to buildings
with no storage or parking or whose
HOAs have banned extra and over
sized vehicles. Second and third
cars, contractors’ vehicles, boats and
RVs.
In fact, with a little creativity,
Scott says there are numerous ways
to add value to selfstorage
properties today, and generate much
larger incomes.
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