All Forum Posts by: Account Closed

@Shaun Moore - I would recommend looking at the Montana Self Storage Association, and attending one of their meetings if possible. I would also recommend the website for Inside Self Storage - there are many informative articles there on virtually every subject in self storage. Finally, I have written a few articles (which have been posted by Inside Self Storage), which can also be found at the website for Investment Real Estate, LLC (the firm I work for.)

@Andy N. I definitely wouldn't put money into an electronic gate. It will run you about $15,000 to get a gate with keypad entry, with ongoing maintenance costs per year of roughly $2,500. An alternative is to get a manual fence with a wheel on the bottom so that tenants can pull up, unlock the gate with a copy of a key you've given them, and then enter.

@Saran Mandhadapu - It's pretty competitive, especially with flips, but it sounds like you're doing pretty well. How many units do you have in both? York Haven is a really small town.

I would definitely consider self storage if it's along a road with at least 10,000 vehicles per day traffic count. 21 acres would certainly be excessive for that purpose, however, so I would consider ways to use the rest in a way that would be beneficial to the whole, with a sort of "master plan" development. So, for example, a great model with self storage is to build self storage in the front of the parcel, where it can be seen from the main road, and then build housing behind it to sell off. Senior housing works well with this model. As an example, look at 19 Broadmoor Blvd, Douglassville, PA.

@Michael Trout - I can definitely stand by that recommendation. I would honestly recommend someone from outside the area working with an investor in York city on a few deals before buying their own. There's a few investors in York city right now that are really making a difference, and would always love another cash partner.

@Michael Trout - Part of me agrees and part of me disagrees with your assessment. I've lived in York County my entire life, and many people from outside the city do feel very negatively about the city. West Poplar and East Cottage are both very bad neighborhoods, and I'd be hesitant to buy in them. That being said, I did just submit an offer on a property located on West King Street, two streets up from West Poplar. Key to my comfort in investing in York City, however, is my intimate knowledge of the city. I've been both a property manager and subcontractor for properties in York - from the crack houses of South Queen to the upscale loft apartments on West Market, I've seen them all. It's not impossible to have a stable property with tenants in place for five years with great returns, and feel safe while managing it.

@Donald Powell - How did you open credit cards in LLCs without that effecting your credit score? I'm really curious about what you did.

Hey @Steven Martin, welcome to BP! I'm a self-storage broker out of York, PA, but I also used to manage single family and commercial rental properties in York City. If you have any questions about the area and the competition, feel free to send me a message.

@John Verduzco - Would you look at self storage in the Mid Atlantic region? If so, I could help you find deals. I work as an analyst and broker for an established brokerage specializing in self storage from Massachusetts to Virginia.

I'll be in the office from 8a-5p tomorrow, and our website is IRELLC.com