Financial Independence at 29 by Quitting Rentals to Invest in THIS

Financial Independence at 29 by Quitting Rentals to Invest in THIS

Do you dream of building a real estate empire and reaching financial independence but stop short due to the “tenants and toilets” problem? The irony wasn’t lost on twenty-nine-year-old Dillon Leonard when a renter accidentally burned the roof off one of his properties. This incident, along with several others, prompted him to explore self-storage investing as a way to escape residential rentals while still allowing him exposure to real estate.

Knowing little to nothing about this often-forgotten segment of the market, Dillon sought expert advice by taking local self-storage owners out for coffee. He soon took action on a 12,000 sq. ft. property for around $300,000 and tripled his investment in a year’s time. Encouraged, he scaled his portfolio over the next three years and now receives approximately $70,000 in gross monthly revenue from 800 units!

Dillon’s self-storage success story has allowed him to build a team and implement systems to run day-to-day operations. Not yet thirty, he now enjoys options that many twice his age wish they had, including potentially retiring from the fire department, spending more time with family, and leaving a property package as a legacy. Tune into this episode to explore the nuts and bolts of the self-storage industry as well as the inspiring mindset realizations that Dillon has experienced in his journey!

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Show notes at:

00:00 Intro

01:14 Residential Rental Woes

05:09 Escaping Tenants & Toilets

07:38 1st Self-Storage Deal

10:34 Financing Self-Storage

12:53 Self-Storage vs. Rentals

19:13 Growing His Self-Storage Business

22:47 Time Management Tips & Tricks

26:04 Scaling through Creative Financing

27:50 Hitting Financial Freedom!

31:09 Acquisitions and Due Diligence

34:55 Systems and Processes

37:23 Quitting His Job

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