Too small to be big. Too big to be small.

[John Brennan]

Hi everyone. I’m John. I’ve had enough standing on the sidelines and want to jump in. The question is:

I’ve been studying self storage for two years and know a lot about it. My problem is that I don’t want to give up my fulll time job as a doctor (yet anyway). So I want it managed and be hands off. This means buying at least a five million dollar property because the management companies aren’t interested in anything smaller. I have no experience in the business and don’t have partners to help me come up with the 1.5 down. 

So do I jump over to residential multi family as it appears that I can put the money down myself and get something where I can have it managed and be as hands off as I’m hoping to be?

Thanks

[Michael Wagner]

I think you've created a false choice here....you say you need to either buy a $5 million dollar self storage property or switch industries. I have bought 3 storage facilities in the $300-500k range and have spend 5-10 hours per week managing them. Big 3rd party management companies are not the end all and be all for day to day operations. I'm happy to share some resources that you might find helpful (and eye opening). Shoot me a PM if you'd like to connect.

Mike