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StorageAce

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2 contributions to StorageAce
My Path to Seven Deals in 3.5 Years - You're Next! 💪
If you’re new to StorageAce, or we have not had a 1:1, my name is Dave DeMink. I own and operate Six Three Storage, a self-storage company with six locations in the Midwest and roughly 150,000 sq ft. of rentable storage. I own 100% of these six facilities. I am also an ¼ owner of a 30,000 sq ft facility in Mississippi. I have quickly amassed this portfolio over the last 3.5 years. I have been fortunate to have built a solid foundation of facilities and cash flow that I recently was able to separate from my high-paying W2 to focus 100% on 10x’ing my storage portfolio while also showing others how they can replicate my process with my proven frameworks on finding, valuing, buying and operating these deals with the launch of StorageAce. My background and story: 2018: purchased first multi-family as part of a syndication 2019: purchased second multi-family on my own (9 units) 2019: flipped a 4-plex and made $187,000 in 6 months 2020: purchased third multi-family apartment (6 units) 2020: Set goal to leave W2 in 10 years (aligned with my youngest daughter graduating high school) 2020: Epiphany: I wasn't going to hit my 10-year goal with current cash flow and CoC return from multi-family 2020: found self-storage, researched, and made the decision to switch (no toilets, no electrical, no remodeling units when someone moves out after ten years and kills cash flow) 2020: Hired a coach/mentor to teach me the framework 2021: bought first deal in West Fargo, ND - found on Crexi.com (4 months after hiring mentor) 2021: bought 2nd deal in Alamosa, CO - received from broker 2021: bought 3rd deal in Springville, IA - found on Loopnet 2022: bought 4th deal in Ottumwa, IA - found on Crexi 2023: bought 5th deal in Mabelvale, AR - off-market deal from a broker 2023: refinanced 2nd deal, cashed out $325k, used to invest in deal #7 (infinite returns) 2024: invested in 7th deals as ¼ owner in Mississippi - opportunity via my storage network 2024: purchased 6th deal in Somerset, KY
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New comment 27d ago
1 like • 28d
Amazing timeline Dave! What do you think your biggest hurdles were over the last 3-4 years? Thanks again for sharing your journey.
Asset Class Comparison
I am also new to the self storage investment class. What would you say is the best reason to choose self storage over other real estate opportunities?What are the biggest hurdles to closing a deal in this sector vs. other real estate endeavors? From your knowledge, what are the current conditions of the self storage market place? Thank you looking forward to gaining some real knowledge from an expert in this space👍🏽
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New comment 26d ago
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Nadeem Esmail
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2points to level up
@nadeem-esmail-9047
Surgeon in Bellingham, Wa

Active 28d ago
Joined Sep 14, 2024
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