Would You Invest All Your $$ Into This Self-Storage Deal?
Hi all!
I have about $40K I want to start investing into RE. I'm leaning towards multi-family rentals, and possibly doing Brrrr. A friend of mine just approached me with a deal on a self-storage business. It would take $50K, and that would max out all of my monies to invest. I don't like the idea of all in one, I was hoping I could use this $ over a few different deals. But also, I hear such good things about storage facilities as an investment, I want to make sure I don't pass up a good thing.
If all the numbers are correct, I would be a 1/3 owner (The other owner putting up 2/3 of the capital), $50K in with profit in my pocket of $1K per month.
Is this an appealing deal in your opinion? What am I not looking at that I should be? (Besides the all eggs in one basket thing and only wanting to invest $40K. I know it's POSSIBLE to do deals thereafter without using your own capital, but I'd imagine it would be MUCH easier to do more deals WITH some capital.
Thank you for your input. David's BRRRR book comes in the mail today along with Frank Gallinelli's popular cash flow book. I'm in learning mode. : )