Looking at my first Storage Unit Deal
Good Afternoon Everybody:
I am currently looking at my first Storage Unit deal.
Because this is my first opportunity in this space - I would love to get your thoughts as to what should I be looking for?
What questions should I be asking when reviewing this opportunity?
I look forward to your thoughts/response on this.
All the best,
Eric
Most Popular Reply
From my experience investing in storage units: Look at the local market cycle and then consider the risks. Are these units seeing a pattern in occupancy? What is the seasonal pattern going to be affected by? How much competition is there within 2, 5 and 10 miles of the property? Who will manage the facilities? Do you like how they are marketing the facilities and how they are pricing the units? What are the demographics around the property? What is the projected growth for the area? How long do you want to hold the property? These are the basics to consider.