Topic: Investing In Self Storage With Scott Krone
Listen in this episode to William Morales meet 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 co-founded SSSK Capital Fund – a firm who specializes in managing real estate assets. Since its inception, SSSK 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 $30 million.
In 2018, SSSK Capital Fund was re-branded to Coda Management Group to complement his design build firm Coda Design + Build. Krone founded Coda in 1998. Coda Design + Build is an international award winning design and build firm which specializes in sustainable building practices.
Some key takeaways from the interview include:
The different types of storage units and where they're located
How Scott found and funded his first deal
How Scott's storage facilities are designed and managed
What the typical cap rates are
- The most cost effective and competitive advantages of Scott's properties
Where Scott finds his data to find feasibility reports
Listen to the full interview and read the complete show notes here!