From Mobile Homes to Self Storage: The Investors Edge in Commercial Real Estate with Jeremiah Boucher

Published: April 4, 2023, 7 a.m.

b'Jeremiah is a seasoned investor who has successfully navigated his way through the mobile home park and self-storage sectors to build his company Patriot Holdings.\\xa0\\n\\xa0\\nIn this episode, Jeremiah shares his journey from mobile home park investing to self-storage facilities, discussing the challenges and opportunities he encountered. He highlights the importance of vetting assets and operators before investing in unconventional assets for higher yields. Overbuilding in certain areas is a concern in the self-storage industry, but Jeremiah quickly discusses how they have dealt explicitly with this issue. Self-storage is a market within a market, and location and visibility are critical factors in determining success.\\xa0\\n\\xa0\\nHis book "Finding Your Edge" offers additional insights into his approach to investing. If you\'re interested in commercial real estate investing or want to learn more about self-storage facilities, this episode is a must!\\xa0\\n\\xa0\\n[00:01 - 07:27] Opening Segment\\nJeremiah\'s background and career\\nHe pivoted from mobile home parks to self-storage investing due to better opportunities\\nHis company, Patriot Holdings, aggregates facilities around the country and is a pure value-add investor\\n\\xa0\\n[07:28 - 13:06] From Mobile Homes to Self-Storage: How One Investor Found Peace of Mind and Predictable Distributions\\nMobile home park investing comes with challenges, such as difficult tenants and high maintenance costs\\nIt\'s essential to focus on owning the land rather than the units themselves\\nSelling mobile homes to tenants can be a successful strategy to get them off your books\\nSelf-storage became an attractive asset class due to predictable capital expenditures and consistent monthly distributions.\\nOverbuilding in a given area is a concern in self-storages\\n\\xa0\\n[13:07 - 21:09] Navigating the Self-Storage Market: Location, Competition, and Expansion Opportunities\\nOversupply is the biggest enemy of storage\\nStorage is a market within a market, with different regions and neighborhoods\\nLocation and visibility are critical factors in choosing a storage facility\\nCompetition should be assessed before investing in new units\\nGood deal flow is vital in an inflated market\\nMismanaged facilities offer the potential for value-add opportunities\\n\\xa0\\n[21:10 - 29:03] Real Estate Investor Shares Tips on Avoiding Shiny Object Syndrome and\\xa0\\nFinding Your Investing Edge\\nMitigating risk by having additional land with existing use\\nJeremiah is against buying land without zoning approvals and rezoning residential/agricultural to commercial\\nAvoid shiny object syndrome by sticking with one asset class at a time\\nFocused on critical levers in business: acquiring storage, fundraising, and delivering on reporting/management\\nTo find investing edge, choose an asset class and region to get to know the inefficiencies\\n\\xa0\\n[29:04 - 36:41] Closing Segment\\nBest investment: a storage facility in a small town in New Hampshire\\xa0\\nWorst investment: an office condo building in Puerto Rico\\nMost important lesson: you have to have the self-awareness to know what your strengths are\\n\\nQuotes:\\n\\xa0\\n"Focus is the key asset that we have, our energy and focus because without those, time gets obliterated anyway. So what\'s the use of time if you can\'t channel it right with energy and focus?" - Jeremiah Boucher\\n\\xa0\\n"You need to have the self-awareness to know your strengths or advantages and what you enjoy doing better than others. And then you have to play to that strength because if it isn\'t inherent in who you are, you won\'t succeed." - Jeremiah Boucher\\n\\nConnect with Jeremiah!\\nBook: https://www.amazon.com/Finding-Your-Edge-Commercial-Investing/dp/1612062458\\xa0\\nWebsite: www.PatriotHoldings.com\\xa0\\n\\nInvest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/\\n\\xa0\\nParticipate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/grou'