Jump to content

Self Storage


CallMeJarob
 Share

Recommended Posts

I have been contemplating opening a self storage facility and have a good opportunity on some prime land in a great location at a fantastic price. I have no previous experience in real estate development as I have been in sales most of my life but I have been doing a lot of research and my due diligence on this piece of land and the general area. Self storage is appealing because of the comparatively low (against industrial or retail) development and operating costs and decent annual rent per sq/ft in the area for storage. ROI seems very appealing for my entry into this segment.

 

Do any of you own any self storage lots and if so have any advice or thoughts?

 

_

Jarob

Share this post


Link to post
Share on other sites

Mobile home park is also a fantastic idea for raw land. Long term tenants and no structures to destroy except their own.

 

I know someone that owns a decent size mobile home park... that thing brings in more cash than you would ever believe.

Share this post


Link to post
Share on other sites

  • 3 weeks later...
I know someone that owns a decent size mobile home park... that thing brings in more cash than you would ever believe.

Met someone in 2009 who was doing self storage. Their profit growth rate was unbelievable. Anyone knows if the markets are over saturated by now?

Share this post


Link to post
Share on other sites

I know someone that owns a decent size mobile home park... that thing brings in more cash than you would ever believe.

What he said. Serious money in this.

Share this post


Link to post
Share on other sites

Met someone in 2009 who was doing self storage. Their profit growth rate was unbelievable. Anyone knows if the markets are over saturated by now?

 

Has to be 100% area dependent. I just looked online at a few local places and HOLY PISS are they expensive. $80-100/mo for a 5x10?

 

It makes me more curious how emotionally/economically fcuking retarded the average person is. I mean the shit in the storage unit must be pretty god damn valuable to warrant spending $1200/yr to keep it someplace.

 

 

Share this post


Link to post
Share on other sites

What he said. Serious money in this.

 

I'm looking into it, but setting up something new seems to be a huge headache. Most cities aren't keen on you building one out at this point, and the ones that are, well they are fcuking shitholes.

 

If you have any personal experiences with them I'd love to hear it. The buddy of mine that owns one bought it turn-key in a foreclosure a few years ago so he doesn't know much about kicking one off.

Share this post


Link to post
Share on other sites

Yea it's amazing how much storage units rent out for.. pretty much the same as a retail space rents out for per sq/ft which is absur and more than industrial!

 

You are right about the trailer parks too. I'm looking into them but cities are not too keen on opening a new one. I've got some great land opportunities so we will see what can be done with them!

Share this post


Link to post
Share on other sites

  • 5 weeks later...

I have a close friend that has been developing self-storage in TX. Management, equity, development, etc are all lined up. Feel free to shoot me a PM if you're looking for a partner in the deal.

Share this post


Link to post
Share on other sites

Mobile home park is also a fantastic idea for raw land. Long term tenants and no structures to destroy except their own.

 

MHP development will be tough in many areas, many cities wont allow them anymore because they are an eye sore. Development and absorption will take alot of time/$$$, would not suggest it at all.

But it is the highest grossing CRE investment you will find. Best bet is to find a value add play the same applies for self storage.

 

 

 

Share this post


Link to post
Share on other sites

 Share

×
×
  • Create New...