Self Storage

[Jablev]

Self Storage is something that seems like it was touted on here a few years ago. I haven't seen any threads lately. I was curious what kind of success people have had with it. Also, I brought this site up in another thread and I don't wanna seem like i'm affiliated with them it's just a pretty expensive home study course (for me anyway), but if it delivers it would seem like it was worth it. Self Storage Products, Self Storage Marketing Products, Self Storage Business Products | Self Storage Investing

Now I'm saying most of these kinda products usually suck, and they are merely used as the author's personal fastlane. I don't know if it's good, and i'm not saying anyone should buy it. I'm just curious if anyone has used it, heard of it, or knows if this guy is legit.

Buying property with no money out of pocket sounds nice, maybe even pants on fire nice...idk...i have zero experience and am just asking for thoughts.

 

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[cashflow3000]

These guys are the real deal: SelfStorageInvesting.net

They stopped doing boot camps but they still own mobile home parks and self storage units.

If you want to learn from someone who has been there, you could do worse.

Have fun, and good luck!

 

[Jablev]

I was hoping for a couple more responses. I thought there'd be a lot more people in the forum trying to go this route. I looked at what you suggested and it looks good but it doesn't seem as thorough as the other one. It is 1/3 the price though lol. Okay decisions, decisions. I am pretty sure my fastlane at least initially will be self storage

 

[cashflow3000]

Self Storage is a great business but it does require a lot of capital ($100K-$500K down payment) to get involved.

Good luck Jablev!

 

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[Jablev]

Oh That explains why there aren't as many ventures on the forum then? I'm going to try to get some loans for it. Thank you for the encouragement.

 

[andviv]

Have you read the post by AroundTheWorld?

 

[Jablev]

Which one? I've seen a couple of hers. I tried going to her website but it appears to be down, and i haven't seen any posts from her lately. Aroundtheworld is the only one i found on the forum doing self-storage I think, and i would guess that she's the one that MJ is referring to in fastlane.

Her bit about it being recession proof is a good point, i saw that, and her comments on passive income are great too. I'm willing to put in years of work if need be in order to get this thing up and running effectively. So net worth first, then putting key people in place. Are there any other posts by her I should look at?

 

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[andviv]

https://www.thefastlaneforum.com/real-estate-commercial/11000-self-storage-industry.html

 

[Jablev]

I saw that one but i didn't read the entire thing until just now. Now i'm more exited and informed then ever. You mentioned a video on that thread though. Is that still accessible somewhere?

 

[CPisHere]

I think it's a good industry, IF your local area isn't already over-saturated. I know my town has seen several of these pop up over the past few years. They all seem to be doing well, but I don't think our market needs any more of them.

As cashflow said, this business requires a large DOWNPAYMENT (in addition to loans) to get into.

IMO, it's a great way to place a long-term bet on commercial real estate, as you are cashflowing the monthly bills but own a large commercial property that could potentially sell for much more in 10 or 15 years.

 

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[Jablev]

Yeah, there is a lot of self-storage companies out here. I don't know if their operating at 100% capacity and if they all are...chances another company could thrive. I've noticed that there aren't any located in sight of the US60 (a major freeway around mesa/phoenix). Location opportunities are there perhaps. Maybe within 30-50 miles of where i'm living their could be untapped need for a storage facility. I haven't run a full battery market assessment...but I can almost guarantee that there is still need somewhere in my area. So step 1 for me has to be assessing need through market analysis.

If i find something, a reasonable step 2 is start hustling for some capital.

 

[Pete799p]

One of the important factors in assessing the viability of building a storage facility beyond land costs is steel prices. Most people don't think to check those numbers when deciding to do a deal and find out really quickly that their costs are much higher then they projected or they are going to have to post pone building until prices drop.

Other then that it seems like a good business given the right situation of course.

 

[JasonKerwin]

Yeah, there is a lot of self-storage companies out here. I don't know if their operating at 100% capacity and if they all are...chances another company could thrive. I've noticed that there aren't any located in sight of the US60 (a major freeway around mesa/phoenix). Location opportunities are there perhaps. Maybe within 30-50 miles of where i'm living their could be untapped need for a storage facility. I haven't run a full battery market assessment...but I can almost guarantee that there is still need somewhere in my area. So step 1 for me has to be assessing need through market analysis.If i find something, a reasonable step 2 is start hustling for some capital.

yes storage service is all people needs. but now self storage service company offers some affordable packages which is amazing things who don't afford high paying service.

 

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[AroundTheWorld]

bump. Just curious. Are there people on the forums now that are involved in self storage?

 

[Jablev]

I have spent the past year with my emergency brake on. My investment capital has been put towards survival mode. I got discouraged when my local area seemed to be flooded with self storage units. I was no longer searching for any other needs but my own. Im back now though, and trying to build cash flow, and learn skills with affiliate marketing while finding a need.