Self Storage Advice Needed

11 Replies

Anybody out there i can connect with regarding Storage units? I am considering this as an additional avenue but i have a bunch of questions. I would probably starting from the ground up.

If so please drop me a line.

Thanks
Ken

Check out www.Bigger Pockets.com/show138

This may answer some of your self storage questions.

Thanks

Michael

This post has been removed.

Thanks Dave!  I appreciate the kind words.

Michael

Yes it was. It taught me alot before i placed my offer today on storage units. 

Kenneth, 

If you need any further assistance, we've bought and sold 8 facilities, developed a few, and assisted in about 50 other transactions with our students totaling well over 1 Million Square feet.  

And if you haven't already, seek legal counsel with regard to your Purchase agreement.  And remember, do your DUE DILIGENCE - you CAN renegotiate if the #'s don't look right. 

Let us know how it turns out.  

I just read Creating Wealth Through Self Storage by Mark Helm and it was a great introduction to self storage units.

if you have cash to invest take a look at fedessa report europe

the business is still new there and many possibilities of growth 

public storage just purchased 5 facilities in germany for 75 million

Just had my offer accepted on my first storage unit.  Plenty of room for expansion and a huge opportunity to turn it around.  I cannot wait!

@Kenneth Picha

Congrats on your offer acceptance,  I'm sure you're excited.  Please keep us posted on the progress.  I've considered self storage also but haven't taken the time to research the ins/outs yet. How did you find this property? Mind sharing a few details on how the numbers/analysis work?

Thanks all.  I will post more in a few but I learned a heck of a lot.  It is a bit of a deviation from houses or mutli-family, but storage units are still real estate investment.

On another note we are now with a lead to multi-family and working in that direction.  Hopefully this will amount to another investment with the closure of the storage units.

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