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My wife and I are closing in on our dream of not having to work. We have various investments and speculations and stores of value, however, we are now interested in adding REITs to our portfolio. Our research has not shown us much actionable information. We find many stockbroker types, many too-good-to-be-true options, however we are not finding a good actionable patch to purchasing. We are specifically interested in the "storage" sector. We are also interested in the Boomer housing sector.
We had hoped that our investigations would lead to the REIT equivalent to Vanguard's Index Funds, kind of a widely accepted good way to go. We are not finding specific, actionable info. Are you an experienced REIT investor? May we pick your brain?
Some of our experiences/reasoning:
*A trusted distant-kin fellow explained that to properly scale a personal storage business, it requires a minimum of $2.7m, anything less is typically not worth the hassle. For example, you need a $50k/yr person to run it, and if they are running a 6-unit place; it doesn't break even, but 600 units does. There are a zillion other things that we know that we don't know, and we only want to allocate less than $450k, so we want to go the REIT route, likely divided between 3 or 4 different funds for further diversification.
*We have some residential rentals (Grand Junction, CO & Fountain Hills, AZ), however, we predict inflation and also national residential rent control at some point, so we want to diversify into storage, hoping that it will not be subjected to as much woke regulation.
We had hoped that our investigations would lead to the REIT equivalent to Vanguard's Index Funds, kind of a widely accepted good way to go. We are not finding specific, actionable info. Are you an experienced REIT investor? May we pick your brain?
Some of our experiences/reasoning:
*A trusted distant-kin fellow explained that to properly scale a personal storage business, it requires a minimum of $2.7m, anything less is typically not worth the hassle. For example, you need a $50k/yr person to run it, and if they are running a 6-unit place; it doesn't break even, but 600 units does. There are a zillion other things that we know that we don't know, and we only want to allocate less than $450k, so we want to go the REIT route, likely divided between 3 or 4 different funds for further diversification.
*We have some residential rentals (Grand Junction, CO & Fountain Hills, AZ), however, we predict inflation and also national residential rent control at some point, so we want to diversify into storage, hoping that it will not be subjected to as much woke regulation.
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