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Why are self storage facilities popping up all over?
Posted on 2/5/18 at 1:21 pm
Posted on 2/5/18 at 1:21 pm
Obviously there is money in it. Boomers going into homes? Mobile millenials?
Posted on 2/5/18 at 1:23 pm to weagle99
because people are buying more and more shite and they don't have anywhere to put the shite
Posted on 2/5/18 at 1:23 pm to weagle99
people are dumb. they pay to store stuff that costs more money than the value of shite stored.
Posted on 2/5/18 at 1:23 pm to Salmon
Buying more shite than you need is the American way.
Posted on 2/5/18 at 1:24 pm to Salmon
ROI is higher for lower initial investment.
Posted on 2/5/18 at 1:24 pm to weagle99
I don't know man but that's a good point. The things literally show up everywhere. I know one guy who owned a few around BR for decades. He put them in locations that he speculated would one day be business valuable with intent to sell later on. Some of these things now days are multi-story buildings though.
Posted on 2/5/18 at 1:24 pm to weagle99
They must make a lot of money, they are even popping up on prime real estate.
Posted on 2/5/18 at 1:24 pm to weagle99
Because avg rent on a small unit is $100/mo. Multiply that by total number of units.
Posted on 2/5/18 at 1:25 pm to TigerNlc
overhead costs are next to nothing
once your initial investment into the building is paid off, its pretty much straight profit
once your initial investment into the building is paid off, its pretty much straight profit
Posted on 2/5/18 at 1:26 pm to weagle99
Well, I can only speak for me. I have a house that is much smaller than what people with my income normally would have. It fits all of my needs and is well within my means. But I do have more stuff than I have room.
Posted on 2/5/18 at 1:26 pm to weagle99
Those mattress stores need somewhere to store all that cash until they can launder it.
Posted on 2/5/18 at 1:27 pm to momentoftruth87
Mobile millennials could be a reason and a lot of people are working remotely these days
Posted on 2/5/18 at 1:27 pm to weagle99
I am working on building and/or developing a few at the moment. You can charge close to the same rent as an apartment while only having to provide a lightbulb and HVAC, and occupancy rates are through the roof.
People are hoarders and continue to buy and buy.
People are hoarders and continue to buy and buy.
Posted on 2/5/18 at 1:28 pm to weagle99
They're actually a great investment in areas with positive economic and population growth.
Its a way to earn passive income while sitting on investment land that you can sell at a premium years down the road.
Its a way to earn passive income while sitting on investment land that you can sell at a premium years down the road.
Posted on 2/5/18 at 1:29 pm to weagle99
low overhead....low risk if they don't pay liquidate their shite....Americans are overindulged and we have to much of everything so we need 3k sq foot houses and then another 1K for the shite we don't use.
Posted on 2/5/18 at 1:29 pm to weagle99
quote:
Why are self storage facilities popping up all over?
Because I got to keep all the cool drawings I made in kindergarten that even my Moms wanted to throw away.
Posted on 2/5/18 at 1:31 pm to weagle99
I want to own one. Seems simple, you might have at Max 3 employees on a given day. Sometimes prob none at all. Plus when people don't pay up, you can sell their stuff like storage wars.
Posted on 2/5/18 at 1:33 pm to weagle99
Living in Austin and Houston there are more and more condos and high rise apartments popping up than I could ever imagine. These are typically the types that need extra storage so maybe there's a correlation.
Posted on 2/5/18 at 1:40 pm to Chad504boy
quote:
pay to store stuff that costs more money than the value of shite stored.
As someone who occasionally buys abandoned storage units at auction, this is the truth.
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