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Updated over 2 years ago on . Most recent reply
Looking to get into self storage
Hoping everybody can share some insight. I started with residential rental and hoping to move into self-storage. I saw an intersection corner lot with "out of business" self-storage ~ 1.5 acres of total property size. The current building sits on half of the lot will need renovation, ( new roof, new door, etc) with about 30 units. I have found the owner and sent them a mail requesting to negotiate a purchase deal.
do you think this is would be a good deal to start within self-storage? it is a rural area that is developing. Mostly farm field currently with new house development coming in. The high school is 2 mins down the road.
thanks