Realistic ROI from self storage facilities

[Marcus Perkerson]

I have about $70,000 to invest in a self storage facility. Could someone let me know the ROI I might be able to achieve? I have a background as residential landlord. I'd like to remove residential tenants from the equation. Thank you in advance for any information.

[Rich Weese]

Daniel- sorry for the delayed reply. You're in for an uphill fight for SO many reasons.
4 projects and total of 500 units? This will be a mgmt nightmare. Also, hard to share advertising budget when they are in different locations. @0 years old is a dinosaur as well is probably security, surveillance and computer software if there is any. Someone asked me to take a look at a project in FL. It had 8" curbs into each unit! Liability and access problem.
You can't use a per door # or you'll get screwed. We have al the way from 5X5 cube up to 40X70. We have outside vehicle, inside non a/c and inside a/c also for vehicles. Same size spot ranges from $95 to $250 standard rate.
One last thing- if You have 82% occ. I'm thinking one of the following
1. Half the tenants are billie bobs family
2. Rents have been reduced too much
3. There are no doors on units ....
4. The seller has doctored #'s.
The nicer, newer buildings aren't anywhere close to 82% Something is wacko. As I posted before, do your due diligence---at least twice! Good luck. Rich