Looking into Self Storage


#1

I’m growing tired of dealing with SFR tenants and the low returns of SFR.

So I"m starting to look at self storage buildings. Due to lack of experience, I’ll be buying an existing place and not build one. Any information related to due diligence, site selection, unit mix, etc. is greatly appreciated.

Would love to glean any information & advice that I can.

Thanks,
Mitch


#2

Have you tried looking up information on Self Storage Association’s site?


#3

Look up…

information online about Scott Myers Self Storage. There is also another guy who does this as well. All I know is that a friend of mine bought a run down storage facility and fixed it up and sold it for a profit of $348,000!


#4

When it comes to self storage, it’s all about the units. The more units you have, the more cash flow you will have. I’ve looked into it as well as there are advantages over residential. I’ve even seen a facility that has a self serving kiosk so you don’t even need to pay someone to be there.


#5

Self Storage

[QUOTE=alcrealestate;887544]information online about Scott Myers Self Storage. There is also another guy who does this as well. All I know is that a friend of mine bought a run down storage facility and fixed it up and sold it for a profit of $348,000![/QUOTE]

Hi Gang, Scott Meyers here! Thankful for the recommendation. I’ve been away from this forum for awhile as we’ve been focused on Investing. Glad to help any way I can.

To your success,