Hitting the High Notes for Passive Income with Corinn Altomare, Ep. 502

Corinn Altomare is co-founder of Hearthfire Holdings – a private equity firm focused on self storage, with a growing portfolio across the Northeast and MidAtlantic regions. Founded in 2012, Hearthfire began initially with multifamily assets, delivering average 23% IRR to investors in 5 full cycle multifamily investments. Hearthfire pivoted to self storage with a first acquisition in 2019, which recently went full cycle delivering 33% IRR to investors. Since that first investment, they have grown the storage portfolio to another 14 locations across 5 states, and have invested significantly in the systems and management team to support the growth. Corinn is a keynote speaker and thought leader on the self storage industry. She holds a Masters in Music Performance from the University of Southern California.  In our conversation with Corinn, we talked about her investing journey from multifamily to the self storage space, how to build your company, what makes self storage recession resistant, and the things to pay attention to before getting into the space.   Announcement: Download Our Sample Deal and Join Our Mailing List   Self Storage - A Recession Resistant Asset Class 00:00 Logic and thinking of investing in multifamily; 07:11 Building your own company; 15:41 Why self storage is more recession resistant; 20:13 The things to pay attention to before getting in the self-storage space;     24:59 Round of Insights Apparent Failure: Her past experiences as a musican Digital Resource: ReMarkable Most Recommended Book: Holy Moments Daily Habit: Meditation and movement #1 Insight for Self-Storage Investing: Build your team, identify your team and get started. Best Place to Grab a Bite in Philly: Zaytoon    Contact Corinn: To learn more go to hfireholdings.com   Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW,  and be sure to hit that subscribe button so you do not miss an episode.