Anyone own any storage units?
 

Curious to see if anyone on gfy has a storage unit business? I'm looking at making an offer on one that just came up for sale.

A friend of mine owns some. Good money to be made.

Looks that way as I just got back from the realitor's office with some numbers. Two more visits to places and hopefully I can make an offer :thumbsup

I know they make big $$ here, I hate to say it but I had one for 4 years,:Oh crap $75 a month. I got mad one day and put everything in storage and drove up to NJ from NC. I lived in NJ for 4 years so when I moved back down I went to get all the stuff out and most of the "junk" was just that junk. LOL I am glad I got every thing out of there.


:):):):):):):)

They usually do very well :thumbsup

Not really anything adding to the whole owning one as I would imagine they can do very well. I do however know there are a few rules that must constantly be applied to the T at least around here in regards to eviction and disposal of units.

Something that I have thought about myself when visiting them, yes I rent a unit. They are on acreage of paved or at least graveled flat space. Combined with zero tree's as well as a shit load of flat roofs. Kind of made me curious as to why I have yet to see any set up a massive solar farm on top of them just so they could sell off the electricity.

Shit that aint a bad idea, and with the right equipment you can make an ass load.

solar panels on all the roofs would be a decent investment, it would take what a year or year and a half to reach the break-even point and then its all profit? what kind of maintenance is there on these?

WTF

http://www.findsolar.com/index.php?page=rightforme

play with that a bit...
25-year Utility Savings: $14,938
















Assumed Installation cost:
(before rebates, incentives or tax credits). $40,500

unless you're living like on the equator solar just doesn't make sense until costs drop a LOT!

Most "renewable" energy sources just don't make sense yet because they have not been produced at a mass level. Once that's done and all the research is "paid for", the costs will come down considerably. It needs a lot more investment and a lot more interest... that may start happening soon. Who knows.

Anyway, the storage unit idea is always an interesting one... but there are a few factors I would-be concerned about.

Cost of land. You need it to be cheap enough so that it will pay itself off, but you need it to be close enough to populated areas so people will go to them. Many people go to and from their storage units fairly often.

Cost of help. You will need someone working there regular business hours. This person can probably be paid a relatively inexpensive wage. Or perhaps you could work at the location since you work for yourself and could work in the office all day.

Security. Probably doesn't cost much, but is needed.

Demand. Do enough people in your area need storage space? Are they willing to pay what you need to make to turn profit?

If somebody is selling, there is a reason why. Businesses that seem "easy as pie", never end up that way. How many of your friends think you don't work since you work at home? :-)

I'm looking at a couple of these sites... now I'm not a math genius, but I am pretty good at it. I have ran a couple different calculators and they all try telling me that these will pay themselves off within 15 to 20 years. My math says different. Either they are lying or I'm doing something way wrong. Granted, they are adding in the gradual increase of typical utility expenses... but still.

The calculator I'm looking at right now says I will "save" about $400 a year... they forget to mention that I will have a $250 a month loan payment on this system. LOL. How convenient of them.

Does my Avatar say "Dead hahahahahaha Storage"?

I worked for a real estate company out of college and they owed some basic units. They cleared 100k every year from those damn things.

Typically the break even point is 15 years give or take, less if you use a lot of power though.
You have to get special permission to feed excess power into the grid too, and even with that you may be capped on the credit you would get from it, that is providing they allow it.

When doing your calculations you have to account for battery replacement, or account for the power you will use from the power company at night.
Most power is used at night.

I almost built a storage place here last summer, but couldnt get the funding on my own. And I didnt want any partners at that time, I wish I had now though, The plot of land I wanted is still available, and even cheaper now though.....

Also if you can find an electrician to install the panels for cash it will cost you a lot less. When I install them 2/3 of the bill is my time and knowledge.

Some people I do business with in town own several of them. They do quite well. They own some and also sell them. I don't think any of them are climatized and I know none have lights so I don't think they have power to any of them. Basically just cement and metal.

I just rent one myself because I have too much junk to fit into the house :(