All Forum Posts by: Brett Deas

I do both Mid and short and I like them because it was easier to make them a full time job. Long-term is less work but less money, for me I wanted something active that I could easily scale and STR gave me that choice.

I know a couple of people who use GPT to find out info on national park visitation and breakdown which helps them choose good STR markets.

Legal zoom is always easy, or many states let you form automatically online for cheap then you can have a lawyer write up an agreement. 

You can get a lock that has an auto feature after a set amount of time, I love using those. And why don't you just give somebody a discount on rent to be in charge of all those things? 

If you leave it up to a group of people they will all expect someone else to do it, it is better to single out one person and make it their job.  

You can always quitclaim it into an llc later. IMO the only plus for putting it into an llc early is for business credit, otherwise the legal protection is not as much as people think and your landlord insurance should cover almost all issues that come up. 

I work with a number of sponsors who do 3-5. From my personal experience and what I have seen, anything shorter than 3 years in self storage specifically has not been worth my money because either the returns aren't there or it is not the normal risk profile for self storage. 

There is always risk, they should know that is the case with any sort of investing. 

Showami

 The permit caps are making it harder to get an str, so competition to get them is hard. Thus making the investment not worth it in my eyes unless it is a huge rev earner. 

Wheat ridge/Arvada is now basically impossible with their permit caps and that price point. I am also looking at STR's in the Bailey area, as park county is the easiest to get permits in. Jeffco, and grand county are either extremely competitive or impossible to get permits in.