289. Discovering the Storage Goldmine with Joe Downs
Join us on Average Joe Finances as our guest Joe Downs, CEO of Belrose Storage Group, shares his 17-year journey in commercial real estate. Joe recounts his early career as a financial advisor, the impact of 9/11 on his career shift, and his ventures, including owning a bar and moving into real estate. Joe delves into his current focus on the self-storage industry, offering insights into market dynamics, the importance of mentorship, and the unique opportunities in storage, especially during economic cycles.
In this episode:
- Learn how adaptability and resilience can turn career setbacks into real estate success.
- Discover why self-storage is an overlooked yet profitable niche in commercial real estate.
- Understand the importance of seeing opportunity in every deal, even beyond your initial criteria.
- Gain insights on why hands-on business oversight is key to long-term investment success.
- And so much more!
Key Moments:
00:00 Introduction and Welcome
01:00 Guest Introduction: Joe Downs
01:23 Joe's Journey into Real Estate
01:39 From Financial Advisor to Real Estate
02:00 The Impact of 9/11 and Career Shift
02:56 Venturing into Real Estate
04:00 Owning a Bar: Lessons Learned
04:57 Transition to Radio and Real Estate
07:14 Discovering Self Storage
09:28 The Self Storage Business Model
13:20 Challenges and Opportunities in Storage
27:49 Advice for Aspiring Investors
31:24 Final Thoughts and Contact Information
Find Joe Downs on:
Website: https://www.belrosestoragegroup.com/
Instagram: https://www.instagram.com/belrosestoragegroup/
Facebook: https://www.facebook.com/belrosestoragegroup
LinkedIn: https://www.linkedin.com/in/joe-downs-7990851/
Youtube: https://www.youtube.com/@belrosestoragegroup
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