Greg Huebner is one of the latest real estate gurus to hit the market and no, he’s not preaching single family rentals, flipping, or wholesaling. In fact, it’s probably something you’ve never really thought of. Wanna take a second to guess? Of course not. He is talking about self storage units and renting those out. Sure 20 years ago he got his start in real estate the traditional way with homes, but today, self storage rentals are responsible for 45k of passive income for him each month. Can it work for you? And how much does Greg Huebner investments cost? Find out in my Greg Huebner investments review!
Why should you consider this model? Well the sad (or maybe not so sad) truth is that even in a downturn economy like ours currently, self storage facilities still turn quite the profit. Why? Well you’ve gotta remember, lots of people are downsizing and in some cases massively…so they need space to store the stuff they plan on keeping long term until they have their own space to store again.
And why should you listen to him? The mans got 320 current self storage facilities and he plans on building out another 200 more for a projected 65k per month in passive income. If that wasn’t enough, he’s got a whole bunch of investors that have no problem throwing money his way because of how he’s able to provide them with 14% year over year returns. Safe to say, he knows what he’s doing.
So what are the first two steps you gotta take? Well first things first you gotta locate your first storage unit. Greg recommends you look for a “fixer upper” because you’ll be able to get quite the discount on it. The second thing Greg wants you to do is put it through a good amount of rehab. The idea behind this is that if you freshen everything up a little bit…you’ll attract some customers you otherwise might not have. Makes sense.
The third step Greg wants you to follow is marketing. Don’t treat this the same way you would rental homes in traditional real estate. Think of it more as like an actual business. The biggest reason for storage units are divorce, disaster, dislocation, and death. As weird as it might be, you need to be advertising to these types of people. Greg recommends using Google ads for this.
Now here’s the pitch. Greg says that if you don’t have enough time for all this, you can become a silent partner in his business by investing with him like all the other people getting those 14% returns. And here’s where it kinda bites…Nowhere on line does it say what the minimum investing amount is or how long it’ll take to see your first “passive check”. You’ve gotta hop on with one of his sales guys to get the details on that.
Personally, I just wouldn’t do it. Not because I don’t trust Greg or that I don’t see any value in what he’s offering. It’s just the business model and all the effort that really has to be put in and the cost of doing so. Think about it. You’ll need cash to buy the property. Then you’ll need cash to pay for the rehab. And then you’ll need cash for the marketing…seems a lot more time and capital intensive than anyone’s really letting on. I’d rather get involved with something that doesn’t have me flying multiple places each month and doesn’t take nearly as much money to get up and running. Maybe you’ll find my solution more like what you’re after…