So a deal just came across my path where I may be able to get a small plot of land for very cheap. The problem with the land is that it really is too small to build anything on. It really is just a storage space. However, could a guy get some standard 20ft shipping containers and make his own self storage facility? This particular deal would have amazing cash flow but... I feel like I'm missing something here?
Would there be zoning issues, tax issues, or other legal shenanigans?
Do you know what the property is currently zoned? Is it in a residential area, or is it retail, office, or industrial nearby? I have seen self storage facilities made up entirely of shipping containers. It seems like if it's big enough for several 20' containers, than you should be able to build something on it. I'm in the process of building on a 0.05 acres lot. It will be a tiny home, but I had originally planned for a shipping container home.
@Joseph Cacciapaglia That sounds super cool! I guess I could buy the containers, charge for storage till the land is paid off, then convert the containers to a container home and sell. I was just asking if there are any laws or codes against that type of thing?
@Chad Tessmann there will almost always be zoning rules and other locality regulations you will need to look at (for example you may need a business permit/license). Visit the website of the town the land is in or call the building department and ask them what the property is zoned for and what you would need to do to put self storage in.