Searching For our 1st Self Storage Facility

[Shane W. Chapin]

Happy Wednesday All! My wife and I spent 2019 rehabbing our first single family rental property utilizing the BRRRR method. The property worked out well and we were able to refinance almost all of our cash out and still cash flow with great tenants. With that being said, due to local law changes and my investing goals, we have adjusted our investment strategy. We are located in Rochester, NY and are currently looking to purchase our first self storage facility. We are also open to facilities in Florida, North Carolina and Georgia. At this point, we are looking for value add potential through expansion and/or operational upgrades. I have been looking at conversions as well but I think it may be best to have SOME income being generated during our turnaround. I want to give credit to The Storage Rebellion for having a fantastic and comprehensive training program that has helped me get to the point I am at now. Thanks for reading and I appreciate any feedback, suggestions or just reach out to chat. Have a great day!

[Ronak Shah]

Yes @Shane W. Chapin I am curious as well on why not self storage around where you live when seems like there are many of same types of properties are within 1 to 2 hours of you.  This is same way @Michael Wagner of The Storage Rebellion started too!  I agree with you that SFRs are mostly a way to play with appreciation as whatever cash flow we think we’re getting is really not enough with all the sub-standard appliances and mechanicals that’s get put in the homes these days!