Podcast: Flipping Junkie
Danny Johnson of Flipping Junkie was joined by Scott Krone, Founder of CODA Management that teams up investors to purchase undervalued warehouse space and convert it into climate controlled, self-storage facilities that are managed by a top 3 operator. In this episode, Scott shares with us what he considers to be the most valuable lessons he’s learned throughout his career. He begins by advising “develop a strong team,” and explains how he relies on a strong team of brokers, contractors, lenders, and more to be able to keep everything running smoothly.
Some key takeaways from the interview include:
- You need to develop strong team. The longer you’re in the industry, the more you’ll depend on the team.
- Focus on developing each aspects of your team.
- Use a wide range of resources to find properties.
- Figure out if it is a good time to be in the market.
- You can make “real money” in development, changing the use of the property.
- Go in to markets that are not over saturated. Hire feasibility consultants to get the demographics of the area you are interested in.
Listen to the full interview and read the complete show notes here!