I think there is a lot of money in storage facilities. I heard they charge $150 per month for a storage unit that is 50 square feet. That means they are charging $3 per square foot. Now compare that to an apartment. To make the math easy let's say you have a 1000 square foot apartment. At the storage rental rate your rent would be $3000 per month. When I was looking at apartments there was a 1000 square foot apartment at Green Hills. The monthly rent would've been $870 per month. And at an apartment you have to worry about electric, gas, etc. At a storage facility there is only sheet metal and air. To further increase your revenue, build vertically, that way you don't have to worry about taxes increasing, just your potential for even more profit. You don't even have to put lights in the units or worry about repainting, etc. when someone moves out. Anyone want to invest in one with me?
Tuesday, March 3, 2009
at 10:01 AM