Owning Storage Units-Advice

[Bailey A.]

For starters, I live in an oilfield town.  For me (and many others) this means living somewhere that has a huge influx of people and not enough resources to accommodate their needs.  For example, storage units!  Today I called the only local place we have to see if they had available units and lo and behold, they were full (roughly 20 units).

Right now I see this as a possible business opportunity.  I've been saving for my first rental home with the idea that eventually I would get to storage units but now I'm thinking "Why not storage first in a place that REALLY needs it?"

I would love to hear about your experience with owning/managing storage units.  I have a couple of questions below but feel free to add anything else you think is important to know.

1) How many units do you currently have?

2) Do you manage them?  If so, are you able to compare managing storage units vs. managing rental homes?

3) What's your vacancy rate?

4) What resources would you recommend for education on owning storage units?

Thanks for taking the time, I look forward to hearing from you guys!

[Scott Meyers]

Hey there! You certainly have found a great place to ask these questions! You are also onto something life changing. Self storage is truly the way to go (trust me, I've done both the rental and storage business!). I own several facilities throughout the united states and honestly, this business has been very kind to my family and I.