#10 How to Maximize Your Self-Storage NOI with Paul Moore

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Join us as we speak with Paul Moore, found of Wellings Capital. Paul started his career at Ford Motor Company, went on to co-found a staffing firm that he later sold, and then got involved in real estate. After investing in single families he progressed to multi-family properties, and then evolved to self-storage and mobile home parks.

In this episode we go into detail about how to maximize your NOI, and force appreciation in self-storage properties by adding additional income beyond your normal rents. We also discuss different tax strategies that every commercial real estate investor should be using, how to find tax strategists instead of just CPAs, how to find cost seg analysts and more.

Tax Strategies Mentioned in the Episode: 

• You need to fire your CPA if they’re not a tax strategist
• 1031 exchange
• Delaware Statutory Trusts
• Cost Segregation and Engineering Cost Segregation Study - accelerate depreciation
• Section 179 - ensures capex is pushed into 1st year rather than over 15 years
• Reset Basis at Death - Heirs can reset the basis on the asset that you 1031’ed over the years
• Qualified Real Estate Professional (QREP)

Best Way to Contact Paul:

https://www.wellingscapital.com/

Helpful Links:

Store Local - self-storage co-op that shares marketing expenses and ideas

How to Lose Money podcast

Getting There Book

Best way to contact your host, Mason Klement:

mason@masonklement.com

https://www.masonklement.com/

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