Considering RV and Boat Storage

Considering RV and Boat Storage

Rental Property Investor · Nolanville, TX · Member since 2008 · 130 posts · 88 votes

Hey everyone, I'm looking at opening an RV/boat storage in my area (central Texas). I believe I found a great property at around 3.3 acres and zoned for this (confirmed with city).  The price is really good for the location too, however, as I move forward in my planning I have some questions and would love any advice in some areas.

Grading

The property I'm looking at has a slight grade to it. I could probably get away without grading it (it is slight), but I would like to provide the best spots possible.  Anyone with experience in this? Any type of surveying that I would have to do?  Is this too tall of an order, or am I on track for thinking this way?

Parking

I've done my rough estimates based on my own analysis of the property, but are there any rules of thumb to use?  Sure there's standard sized lots (i.e. 12x40), but what about driving areas between the rows? Eventually I will have to get with an engineer, but for estimating income, I think I should estimate total spots.

Security

For this, I'm thinking a standard chain link fence with a pin-style automatic sliding gate.  Since I don't anticipate having a front office, I'd like to be able to turn on and off pin numbers remotely. What is a good price-per-foot I should be using for fencing (materials and install) and how much do automatic gates cost? Is there a software you recommend to manage the pins and accept payments?  Seems like this could be a relatively hands-off aspect of the business if done right.

As for cameras, my first thought is something as simple as Simpli-Safe, but my gut tells me there's more commercial-centric solutions I should be looking at.  Should I be looking at monitored solutions?

Funding

I'm not too well versed in commercial lending as I generally stick to SFRs.  The easiest solution to funding this would be to get my in-laws as a partner.  They've expressed interest in a similar project, they're entrepreneurs, and they have money.  I don't like the idea of partnering with family, but if we did it would be drawn out by lawyer and we would cover our bases.  However, I'm most interested in a small business loan.  I've seen numerous options for veterans out there, anyone have any experience with any programs they'd recommend?  There's a sea of them out there!

Market Analysis

My analysis is done by the fact I've searched for RV storage for myself in the past and realized everyone here is booked up and has waiting lists.  Is there any other sources I could use other than just my own anecdotal experience?  I've called a few storage locations and confirmed they're full-up and how much their rates are, but is there any data online out there that could back this up?

I'm sure I'll have more questions as responses come in.  I'd love to hear what your thoughts are and take any tips and tricks you guys with the experience have to offer.

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Investor · Bentonville, AR · Member since 2014 · 759 posts · 379 votes
7y

@Matt Brown 

A few thoughts:

-You want a little grading for drainage, and if you were to put buildings down they would obviously grade the pad/dirt. Civil engineer would be a good thought for this.

-No rules of thumb. On my Boat/RV I have a minimum of 65 feet in between each building. That should give you enough room for someone with a 20 foot truck and a 40 foot boat/trailer to move. Would probably go a little farther if you are building 50+foot units. 

-Automatic gate will be give or take $6k. You'll want to have internet as well for what you are looking at. You'll want to get cameras installed as well, good one's by a professional company will be give or take $5-$10k Easy Storage Solutions is a good software provider for what you are looking for.

-Look up SBA small storage loans, a number of banks that specialize in doing them.

-You'll probably want to pay for a feasibility ahead of time for a consultant to tell you the demand. Although, if the land is an awesome price then lock it up and see if you can just start with outdoor parking to test your demand. Obviously that depends on zoning, approvals, etc. 

Hope this helps some.

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  • Rental Property Investor · Rutland, VT · Member since 2017 · 61 posts · 16 votes
    7y

    interested to learn more about this too

  • Civil Engineer · Missoula, MT · Member since 2015 · 46 posts · 21 votes
    7y

    You may be able to find parking lot development requirements on a local municipalities website, probably a larger City’s, that you could use as a guideline. A lot of state’s Depts of Transportation (not sure on TX specifically) will post past project bid tabulations online and may even have a document showing average cost from the previous year. There will be a fencing item in there but it will likely be a difficult search.

    I know you say you will eventually get with an engineer, but now may be the time to do this. Most engineers will do a site concept plan for much less than a full blown design. This is common to do before you are locked into the purchase. It also gives you something nice to show investors and lenders. They would also be able to give you an option on the grading. 

  • Ronald RohdePro Member
    Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
    7y
    Originally posted by @Matt Brown:

    Hey everyone, I'm looking at opening an RV/boat storage in my area (central Texas). I believe I found a great property at around 3.3 acres and zoned for this (confirmed with city).  The price is really good for the location too, however, as I move forward in my planning I have some questions and would love any advice in some areas.

    Grading

    The property I'm looking at has a slight grade to it. I could probably get away without grading it (it is slight), but I would like to provide the best spots possible.  Anyone with experience in this? Any type of surveying that I would have to do?  Is this too tall of an order, or am I on track for thinking this way?

    Yes you will have to get a survey, if you don't want to grade may need a detention pond. too many unknowns

    Check city website or ask local architect, they know sizes of spaces, etc.

    Commercial solution, if no one is on site, depends on your risk tolerance, neighbors, etc.

    Local bank or friends and family

     Hope this helps!

  • Investor · Bentonville, AR · Member since 2014 · 759 posts · 379 votes
    7y

    @Matt Brown 

    A few thoughts:

    -You want a little grading for drainage, and if you were to put buildings down they would obviously grade the pad/dirt. Civil engineer would be a good thought for this.

    -No rules of thumb. On my Boat/RV I have a minimum of 65 feet in between each building. That should give you enough room for someone with a 20 foot truck and a 40 foot boat/trailer to move. Would probably go a little farther if you are building 50+foot units. 

    -Automatic gate will be give or take $6k. You'll want to have internet as well for what you are looking at. You'll want to get cameras installed as well, good one's by a professional company will be give or take $5-$10k Easy Storage Solutions is a good software provider for what you are looking for.

    -Look up SBA small storage loans, a number of banks that specialize in doing them.

    -You'll probably want to pay for a feasibility ahead of time for a consultant to tell you the demand. Although, if the land is an awesome price then lock it up and see if you can just start with outdoor parking to test your demand. Obviously that depends on zoning, approvals, etc. 

    Hope this helps some.

  • Rental Property Investor · Nolanville, TX · Member since 2008 · 130 posts · 88 votes
    7y

    @Eli Molloy

    I didn't realize an engineer would do something smaller scale to help me make purchasing decisions. That sounds great!

  • Real Estate Broker · The Woodlands, TX · Member since 2016 · 63 posts · 28 votes
    6y

    Hi Matt,

    I'm also in Texas (The Woodlands) and I own a boat & rv storage facility in Montgomery (close to Conroe). The property is a total of 4.7 Acres but the boat & rv portion is only on 3.1 Acres of it, the rest is used by a residential home that we're leasing out. 

    I also just put the tract next door under contract so we're expanding into an additional 4.75 acres. I'm detailing every step of the expansion project in the course. 

  • Ronald RohdePro Member
    Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
    6y
    Originally posted by @Lance Langenhoven:

    Hi Matt,

    I'm also in Texas (The Woodlands) and I own a boat & rv storage facility in Montgomery (close to Conroe). The property is a total of 4.7 Acres but the boat & rv portion is only on 3.1 Acres of it, the rest is used by a residential home that we're leasing out. 

    I've owned it since Jan 2016 and I've learned a LOT about the business since then. During the recent coronavirus lockdown I wrote a course on how to develop / operate one. Check it out at cashflowguru.teachable.com. 

    I also just put the tract next door under contract so we're expanding into an additional 4.75 acres. I'm detailing every step of the expansion project in the course. 

     Glad to hear it! Adjacent land is very useful! Who's doing your GC work?

  • Real Estate Broker · The Woodlands, TX · Member since 2016 · 63 posts · 28 votes
    6y

    Hi Ronald,

    I'm doing it myself. Simply hiring the relevant sub-contractors directly. 

    Not everyone can do this but in my current situation I have the time to go to the property every day to take care of things. 

  • Rental Property Investor · Member since 2020 · 9 posts · 0 votes
    6y

    @Lance Langenhoven

    I too am in Texas and am in the process of doing the same thing. I am a full time firefighter that just finished my Home Inspection schooling. I was lucky enough to find a good piece of property on a major highway. After speaking to a buddy of mine who owns a site prep company, I am looking at about 200k in improvements to get the land in proper gradient for the storage (outside) usable.

    I will definitely be reading your write up and look forward to reading more in this thread.

    Bobby

  • Real Estate Broker · The Woodlands, TX · Member since 2016 · 63 posts · 28 votes
    6y

    @Robert Ortiz - congratulations Robert! Hope your deal works out. I love boat & rv storage... it's a great business. 

  • Member since 2020 · 1 post · 0 votes
    5y

    Hi

    I am in the process of opening a totally enclosed (indoor) RV storage business in an empty warehouse. The building is 15,000 sq ft and can hold about 25 Class A motorhomes. However, I also have the same question about The coaches turning and maneuvering. One way I am compensating by placing smaller travel trailers and class B units.

     I am planning on having nice amenities such as having a trickle charger for the batteries, complete video recorded (stored in the cloud) security, airport pick-up, and detailing. There is nothing like this for hundreds of miles. Within a 1/4 mile there are four truck stops, multiple restaurants, three 24-hour/ 7 days a week truck repair facilities, and a grocery store.

    Any information you would care to share would be welcomed

  • Rental Property Investor · Lampasas, TX · Member since 2020 · 6 posts · 1 vote
    5y

    Hey Matt, I live around nolanville Tx. Was wondering if you ever built a storage facility. We are soon and would like to chat if possible. Thanks 

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