Podcast: The Jason And Pili Project
Topic: How Scott Krone Strategically Creates Recession Resistant Self Storage with Warehouse Conversions
On this podcast episode, Jason Yarusi sits down with Scott Krone, a Chicago native whose career in architecture began in 1991 by pursuing his Masters of Architecture from the Illinois Institute of Technology. While obtaining his degree, he also worked as a Project Manager for Optima, Inc. During his time at Optima, Krone’s responsibilities included such notable projects as the 400 unit Cormandel in Deerfield, IL, the 40 unit HedgeRow in Winnetka, IL, and the 51 unit Optima Center Wilmette in Wilmette, IL.
In 2012, Krone founded Coda Management Group – a firm who specializes in managing real estate assets. Since its inception, Coda has manages a wide range of real estate including single and multi-family homes, retail, commercial warehouse and self-storage and multi-use flex athletic spaces. Currently, the platform of investments is in excess of $55 million.
In 1998, Krone founded Coda, an award winning Design + Build | Sustainability | Consulting firm. Since its inception, Coda has won numerous design/build awards including the international Green GOOD Design Award in 2010, Best of Houzz 2014 and 2015, and Design Evanston Award. Their work has been featured in notable publications as Dream Homes - Chicago, Midwest Luxury Homes, Crate & Barrel 2010 Best Catalogs, NBC TV Show Taste, and national ACE Hardware Commercials.
In addition, Krone has authored High Performance Homes – Navigating the Green Road to Your Dream Home, a book for homeowner’s seeking to incorporate green technology into their home.
Krone resides in Wilmette, IL, with his wife and three children.
Some key takeaways from the interview include:
Scott's pinnacle point from moving into storage facilities and away from multi-family buying
What makes the conversion process that much more buyable than the ground up in terms of being able to maximize space
- Metrics that Scott looks forward to, to show that the market is or isn't meeting demand
Whether or not there's opportunities to find space in predominantly areas that were oversaturated with retail and office space that maybe you can use for this conversion process (thanks to COVID)
- Mistakes that are commonly made when people go into self storage investing
Listen to the full interview and read the complete show notes here!