Updated about 6 years ago on . Most recent reply
Self Storage Units for Cash Flow
Investment Info:
Other other investment in Circleville.
Purchase price: $25,000
Cash invested: $100,000
Storage units in Circleville, Ohio. Built them ourselves and now generating a lot of cash flow!
What made you interested in investing in this type of deal?
Cash-flow
How did you find this deal and how did you negotiate it?
I actually got the land very very cheap from a family friend who has passed away.. Then we built the storage units on the land.
How did you finance this deal?
Paid cash to build the units.
How did you add value to the deal?
We do a lot of marketing to rent out all of our units, to raise more value we have also added a security system as well with a electric gate.
What was the outcome?
We could potentially sell the land up too 1.5 Million.
Lessons learned? Challenges?
Lessons I have learned was to make sure you keep track of all your tenants paperwork and make sure you get a copy of there drivers license. We have challenges we face all the time, for example, last week our units got broken into. It was a huge challenge to get ahold of all of our tenants and email them to ensure safety of their belongings.
