Project for ya. Go find all your wife’s shoes, and count how many pairs she hasn’t touched in a year.
I dare you throw them away.
1 Like
Actually, you missed again. My wifey may be girlie but she actually is not a shoe girl. She is a purse girl if anything, so Chanel, LV, Ferragamo, etc. I must admit, I am a leg man and my wife looks great in heels but that is not her bag (no pun intended). I think it is part of her upbringing in Malaysia and how Asians like to take their shoes off when entering homes. She feels shoes touch all kinds of gross stuff out on the streets so why would anyone pay 1k for a pair of heels? I concur!!!
The “problem” with your theory (and @Elt1) is again that you two think people will have SO MUCH STUFF that it would require offsite paid for storage. Come on, not that many people have that much stuff and would want to pay for storing it. I fully acknowledge our generation and older folks have cocooned and hoarded stuff. I am saying future generations will not do as we did only because well due to all the things mentioned, like disposable everything, being more green, etc. Hey, I am sorry you signed your life away on that self storage facility in Sac Town or in Bayview!!! Put a window in each unit and call it a studio apartment. Boom, cash flow baby…
OK. A different project for the special you. Throw away your wife’s old purses and report back, if you can make it back alive.
Go ahead. Make. My. Day.
But…where does self-storage facilities come into play??? That, is all we are focusing on. Anybody’s home, regardless of how small, has some storage. OMG! Stop making me drink the Self Storage Facility Kool-Aid!!! I am not drinking!!!
Point is, you are rich. You have a SFH, of what size? Let’s say 1500 ft, between the two of you. Sure, you and wife have enough space to store all your things. But what about a family of 5, renting a small 2BR? Do they not have old purses?
Let that sink in for you. It’s not the rich people who rent self storage. It’s the opposite.
Ok, first of all, no one is having 3 kids anymore… Hello??? I am talking future…you know, ahead???
You guys haven’t read my stats…I take Mini storage magazine. .The growth in Mini storage is a world wide phenomenon. .I have made a ton ridding the wave…Was involved in the building of 4 facilities. .They built more from1998-2005 than all the rest ever…Now they are building again at record pace…In fact they would build more without our fucked up banking system run by corrupt OC criminals…
People like to shop Costco, buy SUVs, live large…The less is more phenomenon is for the effete elite in large coastal cities…The rest of America wants more stuff and has less place to put it…
Just met a young millenial couple from Florida who towed their 40’ toy hauler trailer across country, on vacation…Had a 10000lb truck towing it with a Smart car in the toy hauler. .They were hauling their own garage!!!..Sorry but living in SF gives you a very limited view of the real world…
Go travel the US by car…gas is cheap Rvs are everywhere…A big part of the storage business is RV storage. …In fact indoor RV storage is the latest trend, with bars, pools and a Man cave…Guys like to hang with fellow enthusiasts with their collector cars, boats and Rvs…
In Tahoe there is no storage, the Nazi TRPA has stopped almost all building for 35 years…Nobody has a place to put their summer gear, outdoor furniture, boats, bikes, paddle boards, cars…Carson City builders are forced to meet the demand
I just gave up on an opportunity to double my money on Sac mini storage development deal…Each of the investors had to personally guarantee the $7m dolllar construction loan …too much risk for this old guy…
1 Like
I used to rent self storage spaces for my busIness. There are many who are like me. I saw people putting their lawn mowers for their lawn maintenance business and two others storing balloons, chairs and piñatas for their party business.
And then another set put a sofa, rolled up the gate and just chilled there. He also did some woodworking in between. I always wonder how come they allowed him do that.
Wow, you two must be knee deep in self-storage facilities…
In Tahoe, like the BA houses are too small for modern families, even with 2 kids…The average house is a 3/1 1000sf, no garage…Most old houses in the BA are less than 1500sf with maybe a one car garage. .New homes are more than 2500sf, 4/3…small houses are too cramped for modern living. …self storage helps with storing seasonal stuff…modern families have bikes, paddle boards kayaks, outdoor furniture, boats, collector cars…where can they put all this stuff…
My wife and I cant fit all our shit in a 2300sf house, plus a 3 car garage. .all our paddle boards, kayaks, canoe, dinghy, paddle boat will have to be left out in the snow…The TRPA wont even let us build a 10x12 shed…which is allowed in most other areas…Our boat has to be towed to a yard in Carson City, every winter…
I sold most of my self storage. .Still have a small interest in one in Ventura and Oakland…both are paying over 10% cash on cash…with all the management fees included…
Lets face it stuff is cheap, buildings are not…Self storage fills the gap, because it costs $30/sf compared to $300/sf for new houses…plus land of course…
1 Like
The three of us need to go to Texas and meet the guru of self storage…unfortunately he is dead but his successor builds all over the US…plus San Antonio has great BBQ and strip clubs…
Again, you live the life of a king…
All thanks to self storage…lol…The Ventura storage building cost $9m, is worth $14m…we put $3m cash into it…Borrowed $6m…Net cash flow, $1m a year…33% cash on cash return…better than caps in any other asset class…Unfortunately my percentage is very small…but it is a nice little check every month with no headaches for me…Even at $14m the cap rate is 7%…better than sfhs almost anywhere
1 Like
Commercial RE will come back when the price is right. Same with urban housing.