To Storage - or not to Storage

2 Replies

I think this should go in this forum... So, maybe it is a little desperate on my part but I could squeeze into this what appears to be a highly cash-flowing storage facility (actually 4 separate) in Trenton, NJ. It is about 1/2 hour from my house. Some of the neighborhoods are iffy. Numbers are good --- NOI - if it s true is around 40K for a 250K investment. It's a total of about 46 units. They are the kind that are garages that are curb side in the middle of a city neighborhood. There are 4 sets of these of about 10-13 each. So, I could borrow to get this down-payment and walk away, after I got some financing (I think I can get), of about 10K a year. Hopefully, I am having other money coming in to pay down this loan as well. Now, it's not in the best area - that is a concern.

Anyway- just putting it out there - thanks for anyone's help here. 

Dan

@Dan S. I'm guessing if you're worried about the area, you should pass on it. At that small of a unit count, my guess is there isn't adequate security (fence/gate/cameras) etc. 


You can post more about the specific numbers and we could probably help, but judging by your post all of that won't matter as much as the area.