Its cheaper, can be locked up at the end of the night, can be used for mobile storage, can still transport basically everything you need, and in the event you need to move something larger, most work vans can accommodate/tow a small trailer.

I tired to explain a self storage value add deal today to my mom and she said she needed pictures and didn't like my back of a napkin approach!

@Elizabeth DiskinYou should be able to open an account at any bank of your choice for the LLC, but I would recommend Solera, they offer great system allowing you to do all your banking needs from the convenience of your home office or your mobile device.

Purchase price: $129,500 Cash invested: $20,000 3 bd/1.5 bath on double lot. 1 car detached garage, summer kitchen with root cellar, workshop and long storage-building on property.

To your other point regarding parking, yes, you are NOT required to ad additional parking but losing parking for your existing unit occupants could result in having to reduce the rent so you need to weigh that against the added income from the new unit(s).Additionally under the new laws, you may also convert existing non livable space like hallways, breezeways, laundry rooms, storage rooms, etc in multi family lots and turn them into added livable space so long as you meet fire code/egress laws.

They were going to pay her a storage fee, but that never materialized.How do you deal with problem tenants?

BP,How many people out there are currently investing (or considering investing) in 'MINI WAREHOUSES' (500 - 1,000 sq ft over-sized storage units) which have A) power outlets, B) fire suppression equipment, and C) you can use to hang a business license at / conduct business operations?

My husband and I need to evaluate a Self Storage development opportunity and decide whether to invest 50K of our self directed IRA funds as a passive investment on a 506c TIC deal. 

In a well maintained co-op with an onsite superintendent (the best), laundry room, storage unit, short distance to the public transportation 6 trains and buses (:30 minute Express train to midtown Manhattan), a block away from all shopping Macy's, Starbucks, Blink Fitness, restaurants and nearby parks.

I have a current need to rebuild some storage rooms under a carport that one of my tenants hit with her car.