Rethinking Risk: Tom’s Self-Storage Strategy, ep. 353

Have you ever wondered what it takes to transition from a secure job to forging your own path in the challenging world of real estate? In this episode, Jeannette interviews Tom Dunkel, Chief Investment Officer at Belrose Storage Group, who shares his journey from being laid off in 2006 to becoming a successful entrepreneur. This discussion delves into the resilience and strategic thinking necessary to navigate and excel in the competitive real estate market, particularly through the 2008 financial crisis and beyond.

Listeners will gain insights into:

-Entrepreneurial Mindset: Tom discusses the pivotal mindset shifts that helped him move from a secure corporate job to taking risks as an entrepreneur.

-Niche Specialization: Learn how Tom found success in the self-storage sector, emphasizing the importance of specializing in niche markets to enhance business sustainability.

-Overcoming Adversity: Tom shares his experiences during the 2008 financial crisis, providing valuable lessons on perseverance and strategic adaptation.

-Investment Strategies: The episode explores innovative investment strategies, like distressed mortgage notes, that can yield significant returns while offering solutions to market needs.

-Future Trends: Tom provides his perspective on current economic conditions and how past lessons are shaping responses to potential upcoming challenges in both residential and commercial real estate markets.

This episode is a treasure trove for both seasoned and aspiring real estate investors, offering lessons on resilience, strategic investment, and the importance of innovation in finding success amidst challenges. Whether you're considering a shift towards entrepreneurship or looking to deepen your investment portfolio, Tom's journey provides both inspiration and practical advice.

Prefer to listen in? View the transcripts here.

Watch the full episode here.

Are you REady2Scale Your Multifamily Investments?

Learn more about growing your wealth, strengthening your portfolio, and scaling to the next level at www.bluelake-capital.com.

To reach Ellie & her team, email them at info@bluelake-capital.com or complete our investor form at www.bluelake-capital.com/new-investor-form and they'll connect with you.

Time Stamps:

00:00 The Positive Impact of Proactive Banks on Real Estate and Economy

00:17 Welcome to REady2Scale: A Fresh Start in California

01:04 Meet Tom Dunkel: From Corporate to Self-Storage Success

02:05 Tom's Journey: Embracing Entrepreneurship Against All Odds

07:00 The Shift to Real Estate: Building a New Future

09:32 The Financial Crisis: Lessons and Growth

13:11 The Power of Distressed Mortgage Notes in Real Estate

17:22 Commercial Real Estate: Predictions and Preparations

19:30 Self-Storage Investing: A Niche Within a Niche

24:55 The Appeal of Self Storage Investing

26:01 Specializing in RV and Boat Self Storage

27:28 Addressing Supply Chain Disruptions with Contractor Storage

29:30 Addressing Asset Management Challenges

29:57 Leveraging Technology for Efficiency

31:09 Advantages of Self Storage Over Traditional Real Estate

33:39 Dealing with Security Issues and Squatters

34:32 Security Measures and Handling Squatters

36:52 Advice for New Investors in Self Storage

40:42 Personal Insights and Lightning Round Questions

Producer: Blue Lake Capital

Strategist: Syed Mahmood

Editor: Emma Walker

Opening Music: Pomplamoose

Learn more about your ad choices. Visit megaphone.fm/adchoices