Purchase to Profits - Real Estate Investing Podcast Seth Ferguson

Scott Krone Featured On The Purchase To Profits Show

In this episode, Seth Ferguson meets with Scott Krone who hailed from Chicago and started his architecture career in 1991. He pursued his Masters of Architecture from Illinois Institute of Technology. While finishing up his studies, he worked as a Project Manager for Optima.

He founded Coda, an award-winning Design + Build | Sustainability | Consulting firm, and has won numerous awards.

In 2012, Scott Krone also founded Coda Management Group which focuses on managing real estate assets. Coda manages single and multi-family homes and a whole lot more.

Some key takeaways from the interview include:

  • What are his goals and where is he currently at it now
  • When and how did his design-build firm and fund all start
  • What experience has led him into fund management
  • What preparations does he make when anticipating a recession
  • What routines and rituals have he developed that made him successful today
  • What is his keystone deal
  • What made him decide that he need to take his business to the next level 

Listen to the full interview and read the complete show notes here!

WEBSITE FORM HERE

Scott Krone Featured On Your Accelerated Investor Podcast

In this episode, Josh Cantwell sits down with Scott Krone who's company Coda Management Group moved into storage units after seeing a  tremendous amount of volatility in the single family area of real estate and a cap rate on multi-family units in their area.

Scott and his company currently manage over 400,000 square feet of storage units across the Midwest, and they are actively looking for more warehouses to convert to self-storage and flex space.

Death, divorce, and down-sizing are three reasons people rely on self-storage. In addition, as people move to a more urban setting, they lose the garage, attic, or extra bedroom where they may have stored their extra stuff. And if they need to downsize for a while, as most people do during a recession, then a storage unit is a lot cheaper than renting a bigger apartment or house.

Using PACE funding, which stands for Property Assessed Clean Energy Act, Scott has been able to fund these projects in opportunity zones (OZ). This federal program has to be state adopted and implemented at the local level, but it’s designed to help buildings become more energy efficient. Instead of paying this back like a debt payment, it gets applied to your real estate taxes through a special assessment. There are huge and exciting benefits to utilizing the PACE funding on your properties.

Typically, Scott is looking to convert warehouses that are between 80-110,000 square feet, and he prefers warehouses in a growing urban market. If you’re interested in bird dogging a deal for him, he would love to connect with you.

Some key takeaways from the interview include:

  • Some of the really cool tax benefits of PACE funding for properties.
  • Why self-storage is an attractive addition to your real estate portfolio.
  • The perfect kind of warehouse to convert into storage space.
  • Scott’s current model for investors, and how long it takes to turn a profit.

Listen to the full interview and read the complete show notes here!

WEBSITE FORM HERE

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Scott Krone Featured On Bigger Pockets

In this episode, Paul Moore meets with Scott Krone to discuss the four different paths someone can go down when investing in self-storage.

Key takeaways from this episode:

  • Learn about the different classes of self storage
  • Learn about the current landscape of self storage during the pandemic
  • How self storage performs better in a downturn
  • Managing risk within the space

Listen to the full interview here!

WEBSITE FORM HERE

Scott Krone Featured On The Real Estate Syndication Show

Listen to this episode as Whitney Sewell discusses converting distressed buildings into storage units with Scott Krone. What Scott does is converts distressed buildings into self-storage units, primarily in rural areas throughout the Midwest. In this episode, we discover that this niche is both environmentally friendly and profitable too.

By utilizing existing buildings, these projects decrease much of the waste that is synonymous with construction. There are also financial incentives for being involved in projects that lower the carbon footprints of buildings and increase their energy efficiency. Scott talks about how he ensures that his self-storage units will succeed by going into areas with heavy demand and very little supply. We also learn why self-storage is as close to a failsafe investment as is possible, some of the creative financing he uses to fund these projects, and much more. 

Key Points From This Episode:

  • An introduction to Scott and the work that his two firms are currently involved in.
  • Why Scott works in the Midwest: it’s underserved and there are development incentives.
  • Criteria Scott looks for in buildings: size, competition, and more.
  • A ‘look green’ concept that underpins Scott’s self-storage conversion projects.
  • How long a deal on these types of buildings usually takes to close.
  • PACE Funding: the federal program that looks to reduce a building’s carbon footprints.
  • What motivated Scott to pursue his niche.
  • How the market is not the biggest hurdle in self-storage.
  • The two biggest self-storage mistakes: not knowing your competition or your market.
  • Creative ways of increasing investor returns: historic tax credit, opportunity zones, and PACE.
  • The markets Scott is looking at buying in and how he locates properties.
  • Challenges in Scott’s journey with real estate: getting people to believe in him.
  • How Scott has used the Enneagram to improve his business recently.
  • Why Scott understands investors well: he does the design, development, and the build.

Listen to the full interview and read the complete show notes here!

WEBSITE FORM HERE

Best Ever Show with Joe Fairless

Scott Krone Featured on The Best Ever Real Estate Show

In this episode, listen to Joe Fairless and Scott Krone discuss how to leverage capital stack in a conservative manner, but help yield good trajectory returns for investors. 

 

Some key insights of this episode include:

  • When Scott made his pivot away from multi family into self storage and why
  • Why efficiency is the most important thing
  • Scott's exact process for identifying if a location is suitable for a new project
  • Looking at immediate income vs other demographics to decide what type of locker to put in
  • How Scott got his latest project in Milwaukee on the National Park registry
  • Finding the barriers to entry in the market place and identifying how much resistance there is to the product
  • Looking at all case scenarios and seeing if weathering the "worst case" is viable
  • Where you can find Scott giving his latest advice and insider tips online
     

Listen to the full episode and read the show notes here!

WEBSITE FORM HERE

Scott Krone Featured On Real Estate Investing For Cash Flow

In this episode, Kevin Bupp sits down with self-storage expert Scott Krone. With a solid background in architecture, Scott co-founded Coda Management Group, an international award-winning design firm which specializes in sustainable building practices.

Kevin and Scott dive into self-storage real estate, which has been Scott’s more prominent venture. Scott shares a lot of valuable information about the factors and challenges concerning self-storage and how to identify building candidates for potential adaptive reuse. He also explains other aspects of the market such as financing and some market strategies.

 

Key takeaways from this episode:

  • 5:55 Scott’s background in architecture and his first foray into self-storage
  • 12:46 Scott talks about their business model and demographics to look out for
  • 17:40 Other factors and challenges in converting buildings to self-storage
  • 21:30 What is PACE financing?
  • 24:02 More common forms of adaptive reuse of buildings
  • 30:07 Scott shares his longterm strategy


Listen to the full interview and read the complete show notes here!

WEBSITE FORM HERE

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