003 - Five Self Storage Facilities in 18 months w/ Jon Farling

Terry Royce sits down with Jon Farling, a self-storage owner in Columbus, Ohio. In a span of just 18 months, Jon sold his four, single-family rentals and acquired four storage facilities. Today, Jon shares how he transitioned to self-storage investing, how to deal with security issues, and his business preferences in self-storage. 

Since the birth of Jon’s daughter, he started thinking about his finances differently. After calculating for retirement and his daughter’s college tuition, he realized that he needed to make some changes. He started real estate investing at around this time and bought single family rental homes. In 2019, he discovered self-storage investing. Currently, he operates 4 storage facilities in Columbus, Ohio. Since his transition into self-storage, he has tripled his income. His equities in several self-storage deals are projected to significantly exceed his 401k returns by the time he retires. 

What convinced Jon to go “all-in” on self-storage was his goals. He had done his research and constantly reminded himself of what he wanted to achieve. The roadmap that he created gave him the push to acquire his first facility. During his first two weeks as a storage owner, he faced break-ins and squatting in some of the units. He was unfazed as he recognized that initial problems were part of the process. On his third month of operations, his decision to invest in self-storage was affirmed when he started earning $15,000 monthly.

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