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Updated over 2 years ago on . Most recent reply
![Jason Sung's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1529811/1694577126-avatar-jasons409.jpg?twic=v1/output=image/cover=128x128&v=2)
First self storage unit facility investment - Good deal or not?
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.
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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.