World Travel by Investing in Self-Storage with Erik Hemingway

Passive Wealth Strategy Show - Real Estate for Busy Pros

Have you ever dreamt of breaking the chains of routine, retiring early, and traveling the world?

In this episode, we chat with Erik Hemingway, a highly experienced self-storage investor who achieved early retirement and used his wealth to travel the world. We discuss his journey of building his first storage in Arizona in 2006, moving to Costa Rica a year later, and living on a sailboat in Greece for three and half years while traveling to 24 countries. We learn how they sold their cars, houses, and possessions to make the journey possible and met other boaters who encouraged them. After returning to the US, Erik reveals how he invested in fixing and flipping, constructing buildings, and converting them into storage units to build a nest egg.

Join us as we dive deep into Erik's story of taking risks and achieving financial freedom through self-storage investing!

[00:00 - 07:47] From Construction to Self Storage Investor

• Introducing Erik to the show
• He and his family took an early retirement through self-storage investing and traveled the world

[07:48 - 15:17] Exploring the Possibilities Through Boating and Real Estate Investing

• Living on a boat is economical and freeing
• Found fix and flips, built new construction, and got back into storage
• Launched Nomad Capital off the boat adventure

[15:18 - 22:47] Facing Fear and Following Gut

• Heavy-value add projects like renovating old buildings, grocery stores, K-marts, hosiery mills, and soda bottling facilities
• Fear is a muscle that you can exercise

[22:48 - 26:23] Closing Segment

• Best investment:
• Worst investment:
• The most important lesson learned:

Quotes:

"One key thing about life is always being willing to be surprised. Let life surprise you. And it's certainly done that for us. And I think that's a great way to live." - Erik Hemingway

"It's surprising how little you can live on when you're just not distracted by everything that everybody's telling you when you're not kind of sucked into the consumer stuff of just every day on the treadmill." - Erik Hemingway

"Fear is kind of a muscle that you can exercise. And as you step out of your comfort zone, that muscle gets strengthened suddenly. The next stretch is not so hard." - Erik Hemingway

Connect with Erik!

Website: www.NomadCapital.us

Email: [e-mail]

Phone: [phone]

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