Hi all, I have an opportunity to purchase 30 storage units in a remote area off of a 2 lane highway in an area about 3 hours from where we currently invest, Way out in the Country. We own a lot of rental property, but I have no experience in storage units. The acquisition price on these makes a Ton of sense, IF we can manage them remotely. That said, I am having a hard time locating anyone who as done anything like this and succeeded (maybe this should tell me something). Is there any advice out there on buying small storage complex's and using technology to manage them? The number of units just doesn't justify having a property manager on site and I think having a realtor help with showings or rent collection would be a major challenge. The best deals usually require creativity, but Im really struggling with this one. Any advice is much appreciated!
@Emmett McNulty No doubt this could be a good deal. I was very interested in a 20 unit in a remote Wyoming town last year but ended up figuring it would be more of a hassle, and in your case, I would stick to your guns of buy and hold rentals. Seems like the best option from an outside perspective. Especially since a remote storage unit probably has very little chance of appreciation.