Evaluate a Storage Unit Deal

[Ryan Baker]

Hi all,

Long time reader, first time poster. In keeping with my 2020 goal of actually starting (rather than fantasizing about) getting into real estate investing, I’m investigating a storage unit facility for sale. I have a couple of potential partners lined up, so excitement is building.

I have some experience in rental housing, so I’m not completely green to the industry. However I wonder what’s the best strategy for evaluating a storage unit deal vs a housing deal? I imagine the concepts are the same- compare income vs expense? Is there anything I’m missing?

Thanks in advance.

- Ryan