ILAB 106 – How to Build and Profit from a Self-Storage Facility with Kevin Shee

“Self-storage is almost for everybody.”

Kevin Shee

Kevin Shee is the owner of SC Storage, Hong Kong’s leading low-cost self-storage provider with over 60 convenient locations in Hong Kong and Macau, and more than 18,000 self-storage units. He started his self-storage business 18 years ago and has consistently grown in locations and customers. When it comes to self-storage, he is the king!

On this episode, Kevin reveals the step-by-step process of setting up a self-storage facility – from choosing the location to promoting the business. He explains the fundamentals of self-storage and why it is a perfect real estate investment scheme. This discussion teaches entrepreneurs some tips and strategies on how to build a million dollar business, self-storage or not.

Listen to ILAB 106 on iTunes here or subscribe on your favorite podcast app.

ILAB 106 Show Notes


Where we are:

  • Johnny – Chiang Mai
  • Sam & Kevin – Iceland

Links:

 

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  • Wealthfront – get your first $15,000 managed free
  • Betterment – get up to 1 year managed free
  • PeerStreet – get a 1% yield bump on your first loan
  • Traveling Mailbox – get 5% off subscriptions with ‘ILAB’ promo code

 

Time Stamps:

  • 13:24 – Kevin She’s Background
  • 13:54 – The Process of Setting up Self-storage
  • 17:01 – The Building Formula
  • 21:06 – The Renovation Process
  • 23:20 – Real Estate Hack
  • 25:20 – System Input & Customer Access
  • 31:52 – Marketing Strategies to fill-up these Storages
  • 36:53 – Cap Rates for Self-storage
  • 38:34 – Self-storage business competitions
  • 40:04 – Billing defaults & late fees
  • 44:57 – Possible disruptions on self-storage businesses
  • 47:01 – When storage owners become unreachable
  • 51:56 – Countries with good self-storage business potential
  • 59:33 – Recession & Regulation risks

 

 

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