All Forum Posts by: Dana Thilges

My husband and I are looking to embark on a self storage investment journey, and hope to be able to scale it up quickly. We are looking to talk with individuals who would be willing to help us learn and possibly be able to introduce us to people in their network who can help us. We would also be interested in possible partnerships or those who have capital they would like to invest. Please reach out if you'd be interested!

My husband and I are looking to embark on a self storage investment journey, and hope to be able to scale it up quickly. We are looking to talk with individuals who may be interested in providing capital for this whether that be as a loan, or having some equity in the project. It would likely depend on the deal and what works best for both of us. Please reach out if you would be interested in this. 

@Leslie Anne Morris My concern with buying turnkey is the lost opportunity for increasing equity (and of course wouldn't be able to do BRRR method and get that cash back out). But if there is something with high enough cash flow potential, sounds like you think it's worth it?

On another note, any advice on best way to find turnkey places? I've perused a few websites, just curious if anyone has had good experience with one vs another...or of there is another way!

Thanks, all for your input! We are very much in the beginning phases of this research and know nothing about the business loan, etc. Advice on where to start with companies for that, and finding out information on zoning? But we have stayed in some places like this and have very much enjoyed it, and were thinking of doing it near a national park (not Smokies but somewhere truly more "out there) or in northern MN near Lake Superior (there are some really beautiful glamping or dome type places up there already that are super popular). 

Like the idea of a money partner with experience, for sure!

And yes, this would definitely be a long term play for retirement. 

Looking for thoughts/experiences on if it makes sense from a long term wealth building perspective to purchase a turnkey/ready to go Airbnb or other STR vs creating one from scratch. Thinking of doing this from afar/remotely. It is very tempting when I consider the time/cost involved with rehabbing a property and furnishing it, vs buying one that already is doing well (with good data on occupancy rates and expected income) and hopefully picking up from there.

My husband and I are interested in potentially creating some cabins on a piece of land to create a short term rental business. They would potentially be simple with no plumbing (central bath/shower house). So far our experience includes the home we live in (which we flipped ourselves) and one other rental property (long term rental). I've only talked to a couple of lenders, but they both told me we'd need more experience under our belts to take on a project like that. Has anyone done this successfully early on....or are we crazy? :)