Storage Units? Marine Slips?

[Dalton Foote]

Anyone know of someone in Florida investing and building storage units? Also looking for anyone tied to the marine/marina industry. Looking to connect and learn more about the industry since moving down here. Thanks! 

[Henry Clark]

OP.  I would start with dryland marine storage first.  Run the numbers on 1021 S. 82nd St in Tampa.  Asking price is $4mm which could work.  I would make a 3 day offer at $3mm.  If they make a counteroffer, accept their $4mm but with a zero-interest loan of $1.5mm for 5 years.  They would need to take second position if you get a lender involved.

I would get the occupancy rate up to around 60% by year 3 and then put on the market for $11mm. You should make $3 to $4mm profit.

You will have to bring about $2mm to the table for the total deal.  Run the numbers and do your due diligence.  I'm just writing on a napkin.

Or do Conexes or Cargo Containers 8x20; since your near ports should be relatively cheaper.  Should give you about a $30mm valuation once occupancy gets around 90%.  Also depends if they will let you do Conexes and also if they will let you do rock roads or has to be concrete.  You will need about $4mm plus the land cost above.  At 25% down; you would have to bring about, again $2mm to the table.