Business
In this episode of the Beyond Page 1 podcast, host Mickey Serebnitski sits down with Jeff Humphrey, Senior Vice President at Devon Self Storage. With over three decades of experience in commercial real estate, Jeff shares the unique journey that led him from selling satellite systems to managing a $2 billion portfolio in the self-storage industry. He dives into how his early days in sales and passion for woodworking shaped his career, and even credits baseball as a driving force behind his transition into real estate.
Jeff offers valuable insights into the world of asset management, including the importance of accurate financial projections and the significance of approaching deals with an exit strategy in mind. One of his key takeaways: "Buy to sell, don’t buy to buy." He also discusses the complexities of valuing self-storage properties, particularly due to their short-term rental agreements and promotions. On a lighter note, Jeff shares some personal stories, like negotiating property tax appeals and leading Devon’s asset management team with a focus on transparency and teamwork. Whether you're curious about the ins and outs of commercial real estate or just love a good career story, this episode is packed with lessons from a seasoned industry pro.