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For decades, real estate investing has been a popular avenue for individuals seeking to build wealth and secure their financial future. Many people state that it’s more efficient and reliable than stock market investing and offers more tangible benefits than any other asset class. While many investors focus solely on traditional assets like residential and commercial properties, there are those who dare to explore alternative opportunities and find remarkable success when they do.

Travis Baucom, CEO and founder of Balcomie Capital, is one such investor who recognized the untapped potential of self-storage facilities, taking the risk of pivoting from traditional real estate assets to an entirely new class.

Balcomie Capital is a private investment group that specializes in self-storage investments and provides investors with a predictable revenue stream while ensuring their capital is managed by a knowledgeable and experienced team, but this wasn’t where Baucom started out, and he had to overcome many challenges to get where he is now.

Switching Focus

Baucom started out investing in traditional real estate, buying his very first house in 2012. By 2018 he bought over 400 houses. Despite the success he found in this space, he decided to exit the house flipping business while he was on top, slowly selling all of his properties over the course of two years.

With over a decade of experience in the real estate industry, Baucom has distinguished himself as a savvy investor with a keen eye for untapped opportunities. Rather than continue to follow the crowd and engage in conventional house flipping or commercial ventures, he knew that flipping houses wasn’t what he wanted to do for the entirety of his investment career, but he quickly found what was—self-storage.

When he was switching his focus in 2018 and 2019, self-storage wasn’t a popular investment class, so Baucom was one of the investors leading the charge into this space. He recognized the potential of self-storage facilities as a lucrative asset class, but his journey into self-storage investments wasn’t without challenges. If it weren’t for Baucom’s ability to adapt and embrace change, he wouldn’t have found nearly as much success as he did.

Valuable Lessons

Like with any significant change in life, Baucom had challenges to overcome to become the investment expert he is today, and here are some of those lessons he learned:

•       Recognize the market potential. Baucom’s decision to pivot towards self-storage was driven by his deep understanding of market dynamics. He recognized the rising demand for storage spaces due to shifting demographics, urbanization, and changes in consumer behavior. By identifying this trend, he positioned himself to tap into a lucrative market with significant growth potential.
•       Conduct thorough market research. Before diving into this investment space, Baucom conducted extensive market research. He analyzed factors such as population density, competition, and local economic indicators to identify ideal locations for his facilities. This meticulous approach helped him make informed decisions and mitigate risks, two important aspects of any investment.
•       Provide a unique value proposition. He understood that to succeed in a competitive market, he needed to differentiate his self-storage facilities. He focused on offering exceptional customer service, state-of-the-art security systems, and innovative features to attract and retain tenants. By providing a superior experience, he was able to maintain high occupancy rates and command premium rental rates.
•       Build strategic partnerships. Baucom realized the importance of building relationships with industry experts and professionals. He forged strategic partnerships with contractors, property managers, and real estate agents who had expertise in self-storage investments. These partnerships provided him with invaluable insights, access to off-market deals, and a support network of like-minded professionals.
•       Continue learning and adapting. His success in self-storage investments can be attributed to his commitment to ongoing learning. He stayed updated on industry trends, attended conferences, and connected with other successful investors. By continuously adapting his strategies based on new information, he was able to stay ahead of the curve and maximize his returns.
  

About Travis Baucom

Travis Baucom, Founder of Balcomie Capital, is a seasoned asset investor with over 10 years of real estate investing experience, with an average above-market return yearly over the past decade. Balcomie Capital is a boutique firm for high-net-worth and high-income professionals. Its mission is to deliver fully-managed, private investments that allow investors to pursue what matters most to them, offering unprecedented access to income-producing private investments to help build a legacy and future for the next generation. To invest with Balcomie Capital, please visit: https://www.investinstoragedeals.com