Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago on . Most recent reply

User Stats

91
Posts
30
Votes
Jason Sung
  • Investor
  • Dallas, TX
30
Votes |
91
Posts

First self storage unit facility investment - Good deal or not?

Jason Sung
  • Investor
  • Dallas, TX
Posted

I am new to self storage investment and educating myself about self-storage investment. I found a property that interests me. Not sure if this is a good deal or not.

It has 30 units and 2021 NOI of 37K. The list price is ~570K. The cap rate is about 6.5%.

I thought this is a small enough property that I can run and learn. I have full time job but can work remotely. Since the storage operation may not need my full attention all the time, I am thinking about staying at the self storage facility and work for my full time job, and handle a bit of storage operation as well. Is this doable?  I would appreciate any feedback.

Most Popular Reply

User Stats

5,037
Posts
4,678
Votes
Taylor L.
  • Rental Property Investor
  • RVA
4,678
Votes |
5,037
Posts
Taylor L.
  • Rental Property Investor
  • RVA
Replied

What's the potential upside? Is there any room to raise rates and gross income? Any space to add new units? Improve operations? 

The Storage Rebellion is the best place to learn about storage, IMO. Lots of other investors have started in storage the same way you are, and there are a ton of case studies amongst that group.

Loading replies...