Updated 8 months ago on . Most recent reply
Self Storage Investing Advice
Hi everyone, I'm in the residential real estate space but I'm finding commercial to have more opportunity and upside for the money. I'm very interested in investing self storage facilities. Is anyone in here experienced in buying self storage facilities? I would love to get some advice on the best way to get started. Thank you!
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OP. Looks like you're in San Diego. My son is headed there in a month with the Navy so I have looked around that area. You're looking at $5mm minimum to break into that market. Up to $15mm. So, you can't take them Head on. Unless you have 25% downpayment. Since you're a realtor. Look for the nastiest and cheapest Industrial zoned property. 2 acres or larger. With or Without building. Nasty. Then PM me and have me take a look at options.
Don't lose hope. I have looked at LA and SF and there are ground up opportunities in those metro areas.
@Nick G. decide on your deal level to narrow the discussion. Example: At 25% down, $250k equals a $1mm deal. Look up Loopnet Tampa. There are a couple of properties I looked at that I would pursue even at the asking price.
Guys read my posts and vote on them. That way I know you invested "your" time, then I can steer you. Look up my post "Will they come?" Then do that exercise in a town near you.