Mobile Home Parks vs Self Storage vs Shared Workspace

[Jason Yarusi]

If you are choosing based on cash flow and on two different scenarios, which route would you prefer.

Scenario 1- Which path would you choose if each space is operational and upside is in the management inefficiencies.

Scenario 2 - Which path would you choose if each space was a shell. The self storage facility was a warehouse to convert, the office space was a box to convert, the mobile home park consisted of just pads.

[Scott Meyers]

Jason, 

Agree with the above - Not a fair comparison - too many variables. 

I Own over 4,200 Storage Units nationwide, and so I am biased.  Not management intensive - Smart phones, kiosks, and 3rd party property management companies have removed ALL of my management duties.  

I've owned 80 houses, and 400 apartments, and that was enough of the tenant and toilet business for me. I looked into mobile home parks several times, but it just seemed like a step backwards in terms of my career - Even more liabilities and issues than SFR and Multi-Family.

I also own a 188,000 sf incubator/shared work space building in Indianapolis.  Love the business - so much, I sold it once, bought it back, and I'm getting ready to sell again - each time for a 7 figure profit. 

Office space and flex space, however, is VERY susceptible to the economy, whereas Self-Storage is recession proof and inflation proof.  So for that reason, with the next recession around the corner in the next 12-18 months, we are WAY more bullish on Self-Storage. 

Just my $.02