Updated over 6 years ago on . Most recent reply
Storage Units
My passion is to become a full-time real estate investor but will not start investing until after I earn my Bachelors degree. Because I am attending school, I am spending my free time researching investment ideas, strategies, etc. and have come across the idea of developing storage units. What are the pros and cons of investing in these? I do not have experience fabricating or constructing buildings so I would have to consider hiring a contractor, but I have been told storage units are a very fast way of building a cash flow (not sure how steady of a cash flow). Is there anyone that can give me their input? Please & thank you!
Most Popular Reply
@Tyler Sample - Why are you waiting on a piece of paper?
Poke around, look who owns some nearby storage units and buy him or her lunch. Have a list of questions prepared.
If you dont like the answers they give you, move on.
Since you're still in school (and likely in a college town, but I dont know for sure) You should consider house hacking. Pull a 3.5% down FHA loan for a multi-unit, and rent the other units to friends while you live for free.