Boat & RV Storage
Introduction...In our last issue of the Self-StorageInsider.com, we discovered the first self-storage facilities were probably in China. About 6,000 years ago, the Chinese would often store their possessions in clay pots in public underground storage pits. These pits were monitored, to make sure that nobody could remove any pot or its contents except for their own.
What drives today’s industry…You’ve run out of room to stash that old cherrywood table, your high school sports trophies, Grandma’s wedding dress and those bulging boxes of tax records. What to do? Rent a 10-by-15-foot storage unit, for about $100 per month, and stick all the excess stuff in there. Even if your home doesn’t come with an attic, you have one now.
And where can you store your boat and RV. Most residential neighborhoods don’t allow you to store them in front or behind the house. The demand is so strong for boat and RV storage, that you are wise find storage before you buy that boat or RV. Prices for these storage units run $200 to $500 per month.
As commercial property goes, self-storage has none of the sex appeal of a gleaming office building or a ritzy shopping mall. There are more than 50,000 self-storage facilities in the U.S. — nondescript warehouses filled with cubicles where Americans keep the belongings that don’t fit into their homes. But even though self-storage is about as unassuming an industry as you can get, it turns out to be a pretty solid investment — often better than other kinds of real estate.
For several years, the wealthy’s favorite kind of real estate investment was the apartment property. But in the last several months, they’ve shifted to self-storage, a property type that seems a little humdrum.
Why? It is recession-resistant. There are other interesting factors that I’ll explain. But first, here’s some good news. Though some of the most exciting types of self-storage investments are restricted to only the wealthiest investors, anybody can get in on this trend. Ordinary investors can participate in the self-storage real estate market.
And even very wealthy investors can learn a lot about the sector by studying self-storage REITs and taking a cue from Forbes 400 member B. Wayne Hughes, who built his $2.4 billion fortune on self-storage. Mr. Hughes founded Public Storage in 1972 which is now the largest self-storage REIT with 2,200 locations in U.S. and Europe, totaling 142 million square feet of rentable space.
In conclusion…Does self-storage intrigue you? Drop me a note at firstname.lastname@example.org and we can discuss in private.