TGCI 222: Structural Engineer quitting his job to invest in Self-Storage

The Gold Collar Investor

27-02-2023 • 26 mins

In this episode, Pancham interviews Andrew Leedom - CEO and founder of Self Storage Stewardship.

Andrew earned his master's degree in Civil Engineering from Virginia Tech and practiced as a structural engineer for 12 years before stepping away from engineering to focus on commercial real estate.

Let us know how Andrew got the courage to quit his job to invest full-time, particularly in managing self-storage properties. Let us also discover his journey from his first investment in residential multi-family in 2015 before transitioning to self-storage.

Listen and enjoy the show!

Quote:

"If it is something that you desire to do, you can do it. There are roadmaps that plenty of people have done it."

Timestamped Shownotes:

  • 0:36 - Pancham introduces Andrew Leedom to the show
  • 1:43 - How Andrew started in Self-Storage stewardship
  • 4:56 - Mindset struggle in quitting his full-time job
  • 9:08 - Andrew's first step in his self-storage journey
  • 10:17 - His first deal in commercial real estate
  • 17:03 - Advice for those who want to start a self-storage business
  • 21:29 - First time Andrew invested outside of Wall Street
  • 21:43 - Fears he had to overcome in his first deal
  • 23:30 - His advice for people starting their investing outside of Wall Street

3 Key Points:

  1. Self-storage fits the model of having the ability to have a simple business and can run things remotely.
  2. Self-storage has a resistant nature to recession.
  3. Self-storage is like owning a small business with involvement on the active and the passive side.

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