Scaling Up in Self Storage with Joe Evangelisti
Manage episode 356621082 series 3364636
Welcome to the Mario Dattilo Show Podcast!
In this podcast episode, Joe Evangelisti shares his origin story in the self storage industry. He started out in construction before serving in the Navy, as a springboard to starting his own business. He then transitioned from single family homes to self-storage to avoid burnout and find something more scalable. Joe discusses his approach to finding deals and working with others, as well as the importance of expanding into new markets. He also talks about the benefits of investing in the self-storage industry and how to assess the risk factors of different markets. Joe shares his experience in building a strong personal brand and offers advice for those looking to get into commercial real estate. He emphasizes the importance of commitment and provides contact information for those interested in working with him.
Once known as “The Flip King”, Joe Evangelisti is now the host of The Legacy Blueprint podcast and a leading expert in real estate investing - specifically in the self storage industry. After experiencing “burn out” from chasing single and multi-family deals, Joe walked away from his wildly successful flipping empire and transitioned to the world of Self-Storage. Today, Joe’s mission is to show others how to tap into the massive opportunities hidden inside the self-storage industry. Opportunities that require far less time, less risk and exponentially more profits than any industry in real estate. In addition to The Storage Syndicate, Joe also serves as the CEO of
three 7 and 8 figure companies. Prior to building his business and real estate empire, Joe served in the military as a Builder in the US Navy Seabees. He holds Letters of Commendation from the US Navy and The White House, a Letter of Appreciation from President Clinton, and numerous service medals. Joe lives with his wife Ashley and their 2 girls in beautiful Haddonfield, New Jersey.
https://www.investwithlegacy.com/
Find out more about Mario at MarioDattilo.net
Talking Points:
00:01 Joe Evangelisti Is A Rockstar In The Self Storage Industry
00:44 Joe Shares His Origin Story
01:14 Early Years Working On Construction With Rolemodel Dad
01:43 Serving In The Navy Seabees As A Springboard To Business
02:53 Buying First Houses In 2007 During A Tumultuous Economy
03:40 The BRRRR Method, Building A Rental Portfolio, & Single Family Homes For Twelve Years
03:56 Handling Burnout By Transitioning Into Something More Scaleable
05:50 How Joe Goes About Finding Deals & Working With Others
06:33 Moving From Red Ocean To Blue Ocean Strategies
07:18 Creating “A Certified Feild Agent Training” Program
09:22 Expanding Into Markets From Colorado To The East Coast
10:02 Benefiting From Inflation In The Self Storage Industry
13:25 What You Need To Be Aware Of Before Going Into Self Storage
15:45 Working With Big Marketing Teams To Speed Up The Process
16:58 Raising Captial By Caring About The Details
19:04 Getting Into Self-Storage By Investing In Your Network
21:33 How To Think About Rates & New Developments In The Current Economy
23:32 How To Know Whether An Area Is Oversaturated or Undersaturated
26:28 Optimizing Occupancy When Developing & Operating New Sites
28:59 Assessing Markets For Greater Or Lesser Risk Factors
31:41 Thoughts On Building A Strong Personal Brand
34:07 Buying First Storage Sites in 2018 and 2019
34:20 Joe’s Biggest Challenge On A Specific Deal
39:24 One Thing Joe Would Tell Those Looking To Get Into Commercial Real Estate
40:30 Knowing Whether You’re Interested Or Committed Makes All The Difference
44:30 How To Get Ahold Of Joe & Work Together
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34 episode